1533 Winslow St · Racine, WI 53404

$495,000

8 bd · 4.0 ba · 3,370 sqft · MultiFamily public records · 36 Days on market

Built 1900 871 sqft lot $147/sqft · 128% above area

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Why this score? — see what drove the C+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +26.8/30.0
• DSCR +9.2/10.0
• ARV discount +7.5/15.0
• 1% rule +6.7/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Investment opportunity! This unique property features two residences on one lot; a 5 unit apartment building plus a separate single family home with full basement. Each apartment unit offers 2 bedrooms, 1 bathroom, and a private balcony. Four of the five units have been updated with durable LVP flooring and modern gray and white paint, giving the units a fresh, updated feel. This well maintained property also includes a 1 car attached garage on site. Excellent opportunity for investors looking to expand their portfolio with a versatile multi building property offering strong rental income! The property is currently generating $4,925 in rental income with $5,875 total rent potential (1 vacant unit).

Key facts

• Private balcony
• Full basement
• Two residences

Tags

• TWO RESIDENCES
• 5 UNIT APARTMENT BUILDING
• SEPARATE SINGLE FAMILY HOME
• FULL BASEMENT
• PRIVATE BALCONY
• DURABLE LVP FLOORING

What this means for you Summary

Snapshot

• This is a 8-bed/4.0-bath multifamily listed at $495k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $495k).
• Recommended offer: $480k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.6% vs local median 4.0% in Racine — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 80/100 on livability (#58 in WI, #1,622 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: employment D, schools D-.
• Racine Unified School District (urban): math 12% / reading 20% proficiency, ranked #335 of 342 in WI (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 24 active listings in the ZIP; 505 units permitted in Racine County in 2024 (287 in 5+ unit buildings).
• At $5,809/mo this rent would consume 138% of the median local household income ($50k/yr) (locally 746% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $15k of value loss. Plan a longer hold.
• Racine County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $139k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($480k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 12y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $122k; list at $495k implies a 306% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $480,150 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
6. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
7. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.17% ✓
• Cap rate: 9.56%
• Cash-on-cash: 11.68%
• DSCR: 1.52
• GRM: 7.1

CMA / ARV

• ARV (median comp): $294,055
• List price: $495,000
• Delta: 68.34%
• Verdict: OVERPRICED
• Comps: 13 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
932 Center St	0.68mi	9/2.0 (+1)	2,900 (-14%)	21mo	$150,000	$52	15

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 1.1%
• Equity multiple: 1.04×
• Total profit: $5,681
• Equity at exit: $73,806

10-year hold

• IRR: 10.7%
• Equity multiple: 1.83×
• Total profit: $115,482
• Equity at exit: $42,799

Cash invested: $138,600 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 73 Landlord-Friendly
• State Wisconsin: 73 Landlord-Friendly · R+2
• County: — inherits STATE
• City: — inherits STATE

5-day notice; preempted; Madison / Milwaukee have some local enforcement.

Methodology + full state rankings →

ZIP-level market 53404

• Home prices YoY: -33.1%
• Active inventory: 24
• Price-to-rent: 35.5×

Monthly cashflow live

• Estimated rent: $5,809 high
• Mortgage (P&I): −$2,596
• Tax from tax record: −$438 /mo · $5,257/yr
• Insurance: −$206
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,220
• Net cashflow: $1,349

Break-even live

Break-even rent $4,101

Max offer price $495,000

Occupancy floor 72%

5-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 5× units	2	1	$5,810
Total (5 units)			$5,809

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $123,750
• Closing costs: $14,850
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-19
   days on market $495,000 Active 36 DOM
2. 2026-06-18
   days on market $495,000 Active 35 DOM
3. 2026-06-17
   days on market $495,000 Active 34 DOM
4. 2026-06-16
   days on market $495,000 Active 33 DOM
5. 2026-06-15
   days on market $495,000 Active 32 DOM
6. 2026-06-14
   days on market $495,000 Active 30 DOM
7. 2026-06-13
   days on market $495,000 Active 29 DOM
8. 2026-06-10
   days on market $495,000 Active 27 DOM
9. 2026-06-09
   days on market $495,000 Active 26 DOM
10. 2026-06-08
    days on market $495,000 Active 25 DOM
11. 2026-06-07
    days on market $495,000 Active 24 DOM
12. 2026-06-05
    days on market $495,000 Active 21 DOM
13. 2026-06-03
    days on market $495,000 Active 20 DOM
14. 2026-06-02
    days on market $495,000 Active 19 DOM
15. 2026-06-01
    days on market $495,000 Active 18 DOM
16. 2026-05-31
    days on market $495,000 Active 17 DOM
17. 2026-05-30
    days on market $495,000 Active 16 DOM
18. 2026-05-14
    listed $495,000 Active 707-char remark

    Show marketing remark (707 chars)

    Investment opportunity! This unique property features two residences on one lot; a 5 unit apartment building plus a separate single family home with full basement. Each apartment unit offers 2 bedrooms, 1 bathroom, and a private balcony. Four of the five units have been updated with durable LVP flooring and modern gray and white paint, giving the units a fresh, updated feel. This well maintained property also includes a 1 car attached garage on site. Excellent opportunity for investors looking to expand their portfolio with a versatile multi building property offering strong rental income! The property is currently generating $4,925 in rental income with $5,875 total rent potential (1 vacant unit).

19. 2024-08-02
    historical $875
20. 2024-07-18
    listed $875
21. 2024-02-05
    historical $825
22. 2024-01-12
    listed $825
23. 2022-08-18
    price $750
24. 2014-01-30
    listed $135,000 340-char remark

    Show marketing remark (340 chars)

    Two residences on the same lot; one is a five unit complex and the other is a single unit apartment. The single unit is currently occupied and the larger structure is in the process of being ''re-habbed. '' Tenants were removed to allow for owner's updating. Square footage and lot size from public web-site sources; not verified by broker.

25. 2014-01-30
    historical 340-char remark

    Show marketing remark (340 chars)

    Two residences on the same lot; one is a five unit complex and the other is a single unit apartment. The single unit is currently occupied and the larger structure is in the process of being ''re-habbed. '' Tenants were removed to allow for owner's updating. Square footage and lot size from public web-site sources; not verified by broker.

26. 2001-07-13
    soldstatus $122,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast WI · Partial reset (capped growth)

• Current annual tax: $5,257 · $438/mo
• Projected year-2 tax: $7,207 · $601/mo
• Expected delta: +$1,950/yr (+$163/mo · 37.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥95°F today · 13 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $69,708
• − Mortgage interest: −$27,728
• − Property taxes: −$5,257
• − Insurance: −$2,475
• − Repairs & maintenance: −$5,577
• − Management: −$5,577
• − Depreciation: −$14,400
• Taxable income: $8,695
• Est. tax owed @ 24.0%: −$2,087
• After-tax cash flow: $14,101/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Racine Unified School District
• NCES district ID: 5512360
• Math proficiency: 12% ▼ -7.00%
• Reading proficiency: 20% ▬ 0.00%
• Median HH income: $50,716
• Composite: 14.64/100
• National rank: #9405
• State rank: #335 of 342 in WI

Livability — Racine

• Score: 80/100
• State rank: #58
• US rank: #1622

Category grades

Amenities B- Commute A+ Cost of living A+ Crime C Employment D Housing A+ Health & safety A+ User ratings D

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Racine, WI
• County: Racine County · 146,693 people
• City population: 67,505
• Metro: Racine, WI
• Population (ZIP): 13,703
• Household income: $50,428
• Rent vs Own: 50.3% rent · 49.7% own
• Severe rent burden: 746.0

Population outlook (Racine County) Hauer SSP2

• Today (2025): 195,281 people
• By 2030: 193,725 · -0.8%
• By 2040: 188,159 · -3.6%
• By 2050: 181,323 · -7.1%
• By 2075: 174,342 · -10.7%
• By 2100: 166,870 · -14.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.67)
• Race & ethnicity: Hispanic / Latino 40% White 35% Black 21% Two or more races 21%
• Hispanic origin (detail): Mexican 34% Puerto Rican 5%
• Common ancestry: Romanian 4% Lithuanian 2% Iranian 2%
• Foreign-born: 7% · Canada, South Korea
• Languages at home: 83% English-only · Spanish 14% Other Indo-European 1% Tagalog/Filipino 1%

Political lean MEDSL · Racine

• 2024 margin: Lean R (+6.2) · D 46.3% · R 52.5% · Other 1.2%
• 2008→2024 swing: -13.6pp toward R · 2008: 7.4pp · 2024: -6.2pp
• All cycles: 2024: R+6.2 2020: R+4.1 2016: R+4.4 2012: D+3.6 2008: D+7.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -104.32%
• Current HPI: 210.906
• Rent YoY: —
• Metro: Racine, WI
• State GDP YoY: ▲ 2.10%
• F500 in state: 20

Industry mix (Fortune 500 HQ in WI)

Industry	F500 HQs	Revenue
▸Industrial Machinery	4	$23B
▸Industrial Technology	2	$36B
▸Insurance	1	$36B
▸Professional Services	1	$19B
▸Utilities	1	$9B
▸Consumer Goods	1	$3B

Price history

+305.7% since first listed

9 events — show timeline

• 2026-05-14 Listed $495,000 METROMLS
• 2024-08-02 Rental Removed $875 APPFOLIO
• 2024-07-18 Listed for Rent $875 APPFOLIO
• 2024-02-05 Rental Removed $825 APPFOLIO
• 2024-01-12 Listed for Rent $825 APPFOLIO
• 2022-08-18 Price Changed $750 RENT.
• 2014-01-30 Listing Removed — METROMLS
• 2014-01-30 Listed $135,000 METROMLS
• 2001-07-13 Sold (Public Records) $122,000 Public Records

Property tax history

+3.8%/yr

Latest (2025): $5,257 · -4.1% YoY. Source: county tax records.