1842 Lasalle St · Racine, WI 53402

$174,900

4 bd · 2.0 ba · 1,988 sqft · MultiFamily public records · 12 Days on market

Built 1920 3,920 sqft lot Est $197k · 11% under

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Why this score? — see what drove the B 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 +30.0/30.0
• ARV discount +12.5/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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 (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

This cash-flowing duplex was earning a total of $2,105 per month in rent. The property features a 3-bedroom lower unit and a 2-bedroom upper unit. Consider adding this investment to your portfolio or move in yourself and let the other unit cover your expenses!Lower unit is vacant and will demand a higher rent!!

Key facts

• 3,920 sq ft lot
• Built 1920
• Listed 12 days

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $175k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $538/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $175k).
• Cap rate 13.7% vs local median 3.9% 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.
• 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.
• Zoned schools: Roosevelt Elementary (math 2% / reading 12%, grade F, #957 of 1,041 statewide, top 92%, 215 students, 84% FRL); Starbuck - An Ib World School (math 8% / reading 21%, grade F, #366 of 383 statewide, top 96%, 509 students, 62% FRL); Horlick High (math 11% / reading 22%, grade F, #411 of 483 statewide, top 85%, 1,340 students, 67% FRL).
• Market conditions: 105 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 505 units permitted in Racine County in 2024 (287 in 5+ unit buildings).
• At $2,938/mo this rent would consume 47% of the median local household income ($76k/yr) (locally 820% 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 $1k of loan paydown is wiped out by about $5k 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 $49k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 10y 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 $127k; 38% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $174,900

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 1920 — 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: 1.68% ✓
• Cap rate: 13.68%
• Cash-on-cash: 26.38%
• DSCR: 2.17
• GRM: 5.0

CMA / ARV

• ARV (on-the-fly): $196,812
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1842 Lasalle St	0.00mi	5/2.0 (+1)	1,988 (0%)	1mo	$165,000	$83	94
1922 Lasalle St	0.06mi	4/2.0	1,960 (-1%)	7mo	$181,122	$92	89
823 Yout St	0.09mi	5/2.0 (+1)	1,821 (-8%)	3mo	$180,000	$99	74
1623 Charles St	0.33mi	4/2.0	2,078 (+4%)	5mo	$127,500	$61	73
1430 Douglas Ave	0.43mi	5/2.0 (+1)	1,999 (+1%)	3mo	$134,900	$67	72
1715 Saint Clair St	0.22mi	4/2.0	2,209 (+11%)	6mo	$169,000	$77	67
1221 Yout St	0.18mi	3/2.0 (-1)	1,782 (-10%)	6mo	$175,000	$98	64
2207 Blake Ave #2209	0.60mi	4/2.0	1,910 (-4%)	2mo	$273,300	$143	64
2326 Saint Clair St	0.43mi	3/2.0 (-1)	1,868 (-6%)	7mo	$226,000	$121	59
2119 Lasalle St	0.26mi	3/2.0 (-1)	1,750 (-12%)	5mo	$249,900	$143	59
712 Wolff St	0.61mi	5/2.0 (+1)	2,072 (+4%)	3mo	$211,000	$102	56
2700 Lasalle St	0.59mi	3/2.0 (-1)	2,212 (+11%)	7mo	$265,000	$120	43

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: 20.2%
• Equity multiple: 1.82×
• Total profit: $40,288
• Equity at exit: $26,078

10-year hold

• IRR: 28.4%
• Equity multiple: 3.52×
• Total profit: $123,638
• Equity at exit: $15,122

Cash invested: $48,972 (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 53402

• Active inventory: 105
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $2,938 medium
• Mortgage (P&I): −$917
• Tax from tax record: −$254 /mo · $3,053/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$617
• Net cashflow: $1,077

Break-even live

Break-even rent $1,575

Max offer price $174,900

Occupancy floor 58%

Sensitivity live

Price	-10% $1,176	-5% $1,126	+0% $1,077	+5% $1,027	+10% $977
Rent	-10% $844	-5% $960	+0% $1,077	+5% $1,193	+10% $1,309
Rate	-1.0pp $1,165	-0.5pp $1,121	base $1,077	+0.5pp $1,031	+1.0pp $985

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,938
Total (2 units)			$2,938

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: $43,725
• Closing costs: $5,247
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1840 Saint Clair St Racine, WI	3.0	1.0	1250	$1,350	$1.08	22d	1	0.16mi
1300 Buchanan St Racine, WI	5.0	1.5	2282	$1,850	$0.81	22d	1	0.58mi
1210 Erie St Racine, WI	3.0	1.0	1350	$1,150	$0.85	15d	1	0.67mi
945 N Memorial Dr Unit 1-2-3 Racine, WI	3.0	1.0	1500	$1,450	$0.97	22d	1	0.91mi
2220 Northwestern Ave Racine, WI	1.0–3.0	1.0–2.0	899	$2,175	$2.42	15d	19	0.93mi

Listing history 15 events

1. 2026-03-31
   status Pending
2. 2026-03-19
   listed $174,900 Active
3. 2025-06-27
   historical 312-char remark

   Show marketing remark (312 chars)

   This cash-flowing duplex was earning a total of $2,105 per month in rent. The property features a 3-bedroom lower unit and a 2-bedroom upper unit. Consider adding this investment to your portfolio or move in yourself and let the other unit cover your expenses!Lower unit is vacant and will demand a higher rent!!

4. 2025-05-28
   price $168,900 312-char remark

   Show marketing remark (312 chars)

   This cash-flowing duplex was earning a total of $2,105 per month in rent. The property features a 3-bedroom lower unit and a 2-bedroom upper unit. Consider adding this investment to your portfolio or move in yourself and let the other unit cover your expenses!Lower unit is vacant and will demand a higher rent!!

5. 2025-04-21
   status Active 312-char remark

   Show marketing remark (312 chars)

   This cash-flowing duplex was earning a total of $2,105 per month in rent. The property features a 3-bedroom lower unit and a 2-bedroom upper unit. Consider adding this investment to your portfolio or move in yourself and let the other unit cover your expenses!Lower unit is vacant and will demand a higher rent!!

6. 2025-04-11
   status Pending 312-char remark

   Show marketing remark (312 chars)

   This cash-flowing duplex was earning a total of $2,105 per month in rent. The property features a 3-bedroom lower unit and a 2-bedroom upper unit. Consider adding this investment to your portfolio or move in yourself and let the other unit cover your expenses!Lower unit is vacant and will demand a higher rent!!

7. 2025-04-08
   listed $179,900 Active 312-char remark

   Show marketing remark (312 chars)

   This cash-flowing duplex was earning a total of $2,105 per month in rent. The property features a 3-bedroom lower unit and a 2-bedroom upper unit. Consider adding this investment to your portfolio or move in yourself and let the other unit cover your expenses!Lower unit is vacant and will demand a higher rent!!

8. 2023-10-10
   soldstatus $127,000
9. 2023-10-10
   soldstatus $127,000
10. 2022-02-18
    price $950
11. 2021-08-23
    soldstatus $85,000 Sold 335-char remark

    Show marketing remark (335 chars)

    Two Unit Family home with fenced in back yard. Both units have 2 bedrooms and 1 bathroom. Nice two unit decent condition, great for investor, both have good sized kitchen, both units use basement. Two entry doors to both units. Property on corner of LaSalle and English. One unit has entrance on English and on has entrance on LaSalla

12. 2021-07-26
    historical Contingent 335-char remark

    Show marketing remark (335 chars)

    Two Unit Family home with fenced in back yard. Both units have 2 bedrooms and 1 bathroom. Nice two unit decent condition, great for investor, both have good sized kitchen, both units use basement. Two entry doors to both units. Property on corner of LaSalle and English. One unit has entrance on English and on has entrance on LaSalla

13. 2021-07-22
    listed $100,000 Active 335-char remark

    Show marketing remark (335 chars)

    Two Unit Family home with fenced in back yard. Both units have 2 bedrooms and 1 bathroom. Nice two unit decent condition, great for investor, both have good sized kitchen, both units use basement. Two entry doors to both units. Property on corner of LaSalle and English. One unit has entrance on English and on has entrance on LaSalla

14. 2016-08-31
    soldstatus $29,900 Sold
15. 2016-06-02
    listed $29,900 Active

ⓘ 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: $3,053 · $254/mo
• Projected year-2 tax: $3,145 · $262/mo
• Expected delta: +$91/yr (+$8/mo · 3.0%)

ⓘ 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: $35,256
• − Mortgage interest: −$9,797
• − Property taxes: −$3,053
• − Insurance: −$874
• − Repairs & maintenance: −$2,820
• − Management: −$2,820
• − Depreciation: −$5,088
• Taxable income: $10,802
• Est. tax owed @ 24.0%: −$2,592
• After-tax cash flow: $10,326/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): 34,850
• Household income: $75,751
• Rent vs Own: 28.1% rent · 71.9% own
• Severe rent burden: 820.0

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: Predominantly White (71%)
• Race & ethnicity: White 71% Hispanic / Latino 14% Two or more races 10% Black 9% Asian 2%
• Hispanic origin (detail): Mexican 12% Puerto Rican 1%
• Common ancestry: Romanian 7% Portuguese 5% Lithuanian 2%
• Foreign-born: 5% · Canada
• Languages at home: 91% English-only · Spanish 6% Other Indo-European 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: ▼ -128.62%
• Current HPI: 182.6117
• 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

+484.9% since first listed

15 events — show timeline

• 2026-03-31 Pending — METROMLS
• 2026-03-19 Listed $174,900 METROMLS
• 2025-06-27 Listing Removed — METROMLS
• 2025-05-28 Price Changed $168,900 METROMLS
• 2025-04-21 Relisted — METROMLS
• 2025-04-11 Pending — METROMLS
• 2025-04-08 Listed $179,900 METROMLS
• 2023-10-10 Sold (Public Records) $127,000 Public Records
• 2023-10-10 Sold (Public Records) $127,000 Public Records
• 2022-02-18 Price Changed $950 RENT.
• 2021-08-23 Sold (MLS) $85,000 METROMLS
• 2021-07-26 Contingent — METROMLS
• 2021-07-22 Listed $100,000 METROMLS
• 2016-08-31 Sold (MLS) $29,900 METROMLS
• 2016-06-02 Listed $29,900 METROMLS

Property tax history

+1.4%/yr

Latest (2025): $3,053 · +10.8% YoY. Source: county tax records.