2112 53rd St · Kenosha, WI 53140

$235,000

4 bd · 2.0 ba · 1,794 sqft · MultiFamily public records · 21 Days on market

Built 1905 5,662 sqft lot Est $233k · at est.

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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 +26.4/30.0
• DSCR +9.0/10.0
• ARV discount +7.2/15.0
• 1% rule +6.5/10.0
• Livability +4.2/5.0
• Rent growth +4.0/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Income Maker! Large 2 family w/ 2 bedroom each unit, detached garage, paved alley entrance, plenty of off street parking in the front and rear, large fenced yard. being sold as is. * * rooms sizes estimated * *

Key facts

• Fresh paint
• Completely remodeled
• New appliances

Tags

• WELL MAINTAINED DUPLEX
• COMPLETELY REMODELED
• NEW APPLIANCES
• NEW LVP FLOORING
• FRESH PAINT
• MODERN FIXTURES

Property features AI

Finance

• Other: Tenant personal property excluded

Exterior

• Parking: Detached 1-car garage; Additional 0.5 garage parking space (total 1.5 garage spaces); 1 on-site parking space
• Utilities: Municipal water; Municipal sewer
• Home design: 2-story duplex (multi-family property); Two-unit building
• Construction: Information source: Assessor/Public Record
• Exterior features: Vinyl exterior; Lot size approximately 0.13 acres; Acreage less than 1/2 acre; Zoned RG2

Interior

• Kitchen: Unit 2 kitchen on main level; Includes 2 ranges/ovens and 2 refrigerators (inclusions listed)
• Bedrooms: Unit 1: 2 bedrooms; Unit 2: 2 bedrooms (master on main level, second bedroom on main level)
• Bathrooms: Unit 1: 1 full bathroom; Unit 2: 1 full bathroom
• Interior features: Full basement
• Laundry & utility: 2 electric meters; 2 gas meters

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $235k.

Deal economics

• At list price, monthly cash flow is $611 ($7k/yr) — positive. Per door: $305/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $235k).
• Recommended offer: $231k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.4% vs local median 4.0% in Kenosha — 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 84/100 on livability (#31 in WI, #680 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: employment C-, schools D+.
• Kenosha School District (suburban): math 26% / reading 31% proficiency, ranked #287 of 342 in WI (top 84%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+6.0%/yr); 43 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 259 units permitted in Kenosha County in 2024 (8 in 5+ unit buildings).
• At $2,692/mo this rent would consume 56% of the median local household income ($58k/yr) (locally 1576% 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 $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 6.0% rent growth), your $66k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($231k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 11y 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 $71k; list at $235k implies a 230% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1905 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $231,475 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1905 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.15% ✓
• Cap rate: 9.41%
• Cash-on-cash: 11.14%
• DSCR: 1.50
• GRM: 7.3

CMA / ARV

• ARV (on-the-fly): $233,220
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2005 56th St	0.28mi	3/2.0 (-1)	1,809 (+1%)	10mo	$215,000	$119	72
5432 25th Ave	0.27mi	3/2.0 (-1)	1,844 (+3%)	10mo	$240,000	$130	69
5428 25th Ave	0.27mi	4/2.0	1,668 (-7%)	9mo	$150,000	$90	68
4615 10th Ave	0.73mi	4/2.0	1,806 (+1%)	0mo	$257,500	$143	65
1205 58th St	0.61mi	4/2.0	1,856 (+4%)	3mo	$212,000	$114	63
1828 45th St	0.56mi	4/2.0	1,728 (-4%)	7mo	$250,000	$145	62
4826 20th Ave	0.33mi	4/2.0	1,610 (-10%)	8mo	$205,000	$127	61
5007 25th Ave	0.31mi	4/2.0	1,539 (-14%)	2mo	$217,500	$141	60
5003 26th Ave #5005	0.35mi	4/4.0	1,696 (-6%)	8mo	$338,000	$199	59
6018 20th Ave	0.50mi	4/2.0	1,920 (+7%)	9mo	$225,000	$117	58
5619 14th Ave	0.47mi	4/2.0	1,968 (+10%)	7mo	$270,000	$137	56
4413 19th Ave	0.59mi	3/2.0 (-1)	1,628 (-9%)	0mo	$178,000	$109	52

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 · 5.98% rent growth · sell at horizon

5-year hold

• IRR: 3.5%
• Equity multiple: 1.14×
• Total profit: $9,116
• Equity at exit: $35,039

10-year hold

• IRR: 15.5%
• Equity multiple: 2.43×
• Total profit: $94,199
• Equity at exit: $20,319

Cash invested: $65,800 (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 53140

• Rents YoY: 6.0%
• Active inventory: 43
• Price-to-rent: 14.5×

Monthly cashflow live

• Estimated rent: $2,692 high
• Mortgage (P&I): −$1,232
• Tax from tax record: −$185 /mo · $2,226/yr
• Insurance: −$98
• HOA: −$0
• Vacancy / Maint / Mgmt: −$565
• Net cashflow: $611

Break-even live

Break-even rent $1,919

Max offer price $235,000

Occupancy floor 72%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,692
Total (2 units)			$2,692

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: $58,750
• Closing costs: $7,050
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5432 23rd Ave Kenosha, WI	4.0	2.0	1400	$1,695	$1.21	3d	1	0.17mi
1510 57th St Unit 2 Kenosha, WI	4.0	2.0	1700	$1,800	$1.06	43d	1	0.42mi
3905 29th Ave Kenosha, WI	3.0	2.0	1550	$1,600	$1.03	18d	1	1.12mi
2114 36th St Kenosha, WI	3.0	2.0	1889	$3,200	$1.69	43d	1	1.21mi

Listing history 28 events

1. 2026-06-18
   days on market $235,000 Active 21 DOM
2. 2026-06-17
   days on market $235,000 Active 20 DOM
3. 2026-06-16
   days on market $235,000 Active 19 DOM
4. 2026-06-15
   days on market $235,000 Active 18 DOM
5. 2026-06-13
   days on market $235,000 Active 16 DOM
6. 2026-06-09
   days on market $235,000 Active 12 DOM
7. 2026-06-08
   days on market $235,000 Active 11 DOM
8. 2026-06-07
   days on market $235,000 Active 10 DOM
9. 2026-06-04
   days on market $235,000 Active 7 DOM
10. 2026-06-03
    days on market $235,000 Active 6 DOM
11. 2026-06-02
    days on market $235,000 Active 5 DOM
12. 2026-06-01
    days on market $235,000 Active 4 DOM
13. 2026-05-31
    days on market $235,000 Active 3 DOM
14. 2026-05-28
    listed $235,000 Active
15. 2024-04-23
    historical $900
16. 2024-04-16
    listed $900
17. 2018-06-22
    soldstatus $71,200 Sold 213-char remark

    Show marketing remark (213 chars)

    Income Maker! Large 2 family w/ 2 bedroom each unit, detached garage, paved alley entrance, plenty of off street parking in the front and rear, large fenced yard. being sold as is. * * rooms sizes estimated * *

18. 2018-05-25
    historical Contingent 213-char remark

    Show marketing remark (213 chars)

    Income Maker! Large 2 family w/ 2 bedroom each unit, detached garage, paved alley entrance, plenty of off street parking in the front and rear, large fenced yard. being sold as is. * * rooms sizes estimated * *

19. 2018-05-23
    price $79,000 213-char remark

    Show marketing remark (213 chars)

    Income Maker! Large 2 family w/ 2 bedroom each unit, detached garage, paved alley entrance, plenty of off street parking in the front and rear, large fenced yard. being sold as is. * * rooms sizes estimated * *

20. 2018-05-18
    price $80,000 213-char remark

    Show marketing remark (213 chars)

    Income Maker! Large 2 family w/ 2 bedroom each unit, detached garage, paved alley entrance, plenty of off street parking in the front and rear, large fenced yard. being sold as is. * * rooms sizes estimated * *

21. 2018-05-07
    price $84,900 213-char remark

    Show marketing remark (213 chars)

    Income Maker! Large 2 family w/ 2 bedroom each unit, detached garage, paved alley entrance, plenty of off street parking in the front and rear, large fenced yard. being sold as is. * * rooms sizes estimated * *

22. 2018-04-23
    listed $89,900 Active 213-char remark

    Show marketing remark (213 chars)

    Income Maker! Large 2 family w/ 2 bedroom each unit, detached garage, paved alley entrance, plenty of off street parking in the front and rear, large fenced yard. being sold as is. * * rooms sizes estimated * *

23. 2015-03-10
    historical 233-char remark

    Show marketing remark (233 chars)

    Large 2 family 2 bedroom each unit, detached garage, paved alley entrance, plenty of off street parking in the front and rear, private fenced fenced yard. Currently under renovation, being sold as is. * * rooms sizes estimated * *

24. 2015-02-17
    price $44,900 233-char remark

    Show marketing remark (233 chars)

    Large 2 family 2 bedroom each unit, detached garage, paved alley entrance, plenty of off street parking in the front and rear, private fenced fenced yard. Currently under renovation, being sold as is. * * rooms sizes estimated * *

25. 2015-01-26
    listed $49,900 Active 233-char remark

    Show marketing remark (233 chars)

    Large 2 family 2 bedroom each unit, detached garage, paved alley entrance, plenty of off street parking in the front and rear, private fenced fenced yard. Currently under renovation, being sold as is. * * rooms sizes estimated * *

26. 2014-10-30
    soldstatus $17,500
27. 2014-09-03
    soldstatus $12,000
28. 1980-03-01
    soldstatus $30,000

ⓘ 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: $2,226 · $185/mo
• Projected year-2 tax: $3,287 · $274/mo
• Expected delta: +$1,061/yr (+$88/mo · 47.7%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 47% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥96°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,304
• − Mortgage interest: −$13,164
• − Property taxes: −$2,226
• − Insurance: −$1,175
• − Repairs & maintenance: −$2,584
• − Management: −$2,584
• − Depreciation: −$6,836
• Taxable income: $3,735
• Est. tax owed @ 24.0%: −$896
• After-tax cash flow: $6,435/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: Kenosha School District
• NCES district ID: 5507320
• Math proficiency: 26% ▼ -9.00%
• Reading proficiency: 31% ▼ -6.00%
• Median HH income: $52,407
• Composite: 25.17/100
• National rank: #7516
• State rank: #287 of 342 in WI

Livability — Kenosha

• Score: 84/100
• State rank: #31
• US rank: #680

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kenosha, WI
• County: Kenosha County · 130,343 people
• City population: 85,271
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 30,238
• Household income: $58,006
• Rent vs Own: 47.7% rent · 52.3% own
• Severe rent burden: 1576.0

Population outlook (Kenosha County) Hauer SSP2

• Today (2025): 174,032 people
• By 2030: 174,923 · +0.5%
• By 2040: 173,895 · -0.1%
• By 2050: 170,102 · -2.3%
• By 2075: 162,952 · -6.4%
• By 2100: 154,781 · -11.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (66%)
• Race & ethnicity: White 66% Hispanic / Latino 19% Two or more races 14% Black 9% Asian 2%
• Hispanic origin (detail): Mexican 14% Puerto Rican 2%
• Common ancestry: Romanian 7% Lithuanian 3% Portuguese 3%
• Foreign-born: 10% · Canada
• Languages at home: 83% English-only · Spanish 12% Other Indo-European 3% Other Asian/Pacific 1%

Political lean MEDSL · Kenosha

• 2024 margin: Lean R (+6.2) · D 46.2% · R 52.5% · Other 1.3%
• 2008→2024 swing: -24.3pp toward R · 2008: 18.1pp · 2024: -6.2pp
• All cycles: 2024: R+6.2 2020: R+3.1 2016: R+0.3 2012: D+12.3 2008: D+18.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -187.92%
• Current HPI: 235.0929
• Rent YoY: ▲ 5.98%
• Metro: Chicago-Naperville-Elgin, IL-IN-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

+683.3% since first listed

15 events — show timeline

• 2026-05-28 Listed $235,000 METROMLS
• 2024-04-23 Rental Removed $900 APPFOLIO
• 2024-04-16 Listed for Rent $900 APPFOLIO
• 2018-06-22 Sold (MLS) $71,200 METROMLS
• 2018-05-25 Contingent — METROMLS
• 2018-05-23 Price Changed $79,000 METROMLS
• 2018-05-18 Price Changed $80,000 METROMLS
• 2018-05-07 Price Changed $84,900 METROMLS
• 2018-04-23 Listed $89,900 METROMLS
• 2015-03-10 Listing Removed — METROMLS
• 2015-02-17 Price Changed $44,900 METROMLS
• 2015-01-26 Listed $49,900 METROMLS
• 2014-10-30 Sold (Public Records) $17,500 Public Records
• 2014-09-03 Sold (Public Records) $12,000 Public Records
• 1980-03-01 Sold (Public Records) $30,000 Public Records

Property tax history

+1.9%/yr

Latest (2025): $2,226 · +5.6% YoY. Source: county tax records.