9473 S Chicago Rd · Oak Creek, WI 53154

$289,900

4 bd · 1.0 ba · 1,087 sqft · Other · 87 Days on market

Built 1868 0.35 ac lot

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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 +20.0/30.0
• ARV discount +7.5/15.0
• DSCR +6.3/10.0
• Livability +4.2/5.0
• Schools +4.0/10.0
• 1% rule +3.9/10.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Discover endless possibilities with this historic 4-bedroom, 1-bath home situated on a spacious . 35-acre corner lot in the heart of Oak Creek. Whether you're looking to update and remodel to create your own unique home, tear down and build your dream residence, or develop a multi-unit property for investment, this location offers unmatched potential. Nestled in a prime Oak Creek neighborhood, the property provides both charm and opportunity for future growth. Bring your vision--this is your chance to make something truly special.

Key facts

• 0.35 acre lot
• Parking
• Built 1868

Property features AI

Finance

• Other: Appliances included: stove/range, refrigerator, dishwasher, microwave, washer, dryer; Seller and tenants' personal property excluded

Exterior

• Parking: Attached garage with 1 parking space
• Utilities: Municipal water; Municipal sewer
• Home design: Bi-level single-family home; Less than 1/2 acre lot (0.35 acre); Residential zoning
• Construction: Year built information from assessor/public record
• Exterior features: Aluminum trim

Interior

• Kitchen: Dishwasher; Microwave; Oven; Range; Refrigerator; Stove/range included
• Bedrooms: Upper-level bedrooms (additional bedrooms on upper level); Main-level bedroom (10 x 10 listed as other room)
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air; Natural gas heating
• Interior features: Basement: full
• Laundry & utility: Washer included; Dryer included

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath other listed at $290k.

Deal economics

• At list price, monthly cash flow is $356 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $259k (10.5% below list).
• Recommended offer: $259k (10.5% below list) — sets the bar for 1% rule.
• Cap rate 7.8% vs local median 3.2% in Oak Creek — 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 83/100 on livability (#40 in WI, #851 nationally) — a professional / high-income tenant draw. Strengths: employment A+, housing A+, health & safety A+; Watch: amenities F.
• Oak Creek-Franklin Joint School District (suburban): math 44% / reading 46% proficiency, ranked #81 of 342 in WI (top 24%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 20% free/reduced lunch — higher-income household profile.
• Zoned schools: Oak Creek High (math 40% / reading 49%, grade F, #60 of 483 statewide, top 14%, 2,168 students, 29% FRL).
• Market conditions: Rents rising (+1.8%/yr); 142 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,017 units permitted in Milwaukee County in 2024 (803 in 5+ unit buildings).
• This rent runs 32% of the median local income ($97k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Milwaukee County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 87 days — a 6% lower offer ($273k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1868 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $259,323 (10.5% below list)

Questions for the listing agent

1. It's been on market 87 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
2. Built in 1868 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.89% ✗
• Cap rate: 7.76%
• Cash-on-cash: 5.26%
• DSCR: 1.23
• GRM: 9.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.82% rent growth · sell at horizon

5-year hold

• IRR: -9.4%
• Equity multiple: 0.66×
• Total profit: $-27,529
• Equity at exit: $43,225

10-year hold

• IRR: -1.4%
• Equity multiple: 0.91×
• Total profit: $-7,626
• Equity at exit: $25,065

Cash invested: $81,172 (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 53154

• Rents YoY: 1.8%
• Active inventory: 142
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $2,593 medium
• Mortgage (P&I): −$1,520
• Tax from tax record: −$52 /mo · $625/yr
• Insurance: −$121
• HOA: −$0
• Vacancy / Maint / Mgmt: −$545
• Net cashflow: $356

Break-even live

Break-even rent $2,143

Max offer price $289,900

Occupancy floor 81%

Sensitivity live

Price	-10% $520	-5% $438	+0% $356	+5% $273	+10% $-155
Rent	-10% $151	-5% $253	+0% $356	+5% $458	+10% $560
Rate	-1.0pp $502	-0.5pp $429	base $356	+0.5pp $280	+1.0pp $204

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: $72,475
• Closing costs: $8,697
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9401 S Breakwater Blvd Apt 301 Oak Creek, WI	3.0	2.0	1347	$2,495	$1.85	24d	1	0.49mi
9437 S Breakwater Blvd Oak Creek, WI	1.0–3.0	1.0–2.0	1209	$2,895	$2.39	2d	54	0.51mi
9324 S Breakwater Blvd Unit 301S Oak Creek, WI	3.0	2.0	1337	$2,600	$1.94	24d	1	0.54mi
9045 S Chicago Ct Oak Creek, WI	3.0	1.5	1300	$2,200	$1.69	4d	1	0.54mi

Listing history 17 events

1. 2026-06-18
   days on market $289,900 Active 87 DOM
2. 2026-06-17
   days on market $289,900 Active 86 DOM
3. 2026-06-16
   days on market $289,900 Active 85 DOM
4. 2026-06-15
   days on market $289,900 Active 84 DOM
5. 2026-06-13
   days on market $289,900 Active 82 DOM
6. 2026-06-09
   days on market $289,900 Active 78 DOM
7. 2026-06-08
   days on market $289,900 Active 77 DOM
8. 2026-06-07
   days on market $289,900 Active 76 DOM
9. 2026-06-03
   days on market $289,900 Active 72 DOM
10. 2026-06-02
    days on market $289,900 Active 71 DOM
11. 2026-06-01
    days on market $289,900 Active 70 DOM
12. 2026-05-31
    days on market $289,900 Active 69 DOM
13. 2026-03-22
    historical 536-char remark

    Show marketing remark (536 chars)

    Discover endless possibilities with this historic 4-bedroom, 1-bath home situated on a spacious . 35-acre corner lot in the heart of Oak Creek. Whether you're looking to update and remodel to create your own unique home, tear down and build your dream residence, or develop a multi-unit property for investment, this location offers unmatched potential. Nestled in a prime Oak Creek neighborhood, the property provides both charm and opportunity for future growth. Bring your vision--this is your chance to make something truly special.

14. 2025-10-18
    price $289,900 536-char remark

    Show marketing remark (536 chars)

    Discover endless possibilities with this historic 4-bedroom, 1-bath home situated on a spacious . 35-acre corner lot in the heart of Oak Creek. Whether you're looking to update and remodel to create your own unique home, tear down and build your dream residence, or develop a multi-unit property for investment, this location offers unmatched potential. Nestled in a prime Oak Creek neighborhood, the property provides both charm and opportunity for future growth. Bring your vision--this is your chance to make something truly special.

15. 2025-10-02
    listed $300,000 Active 536-char remark

    Show marketing remark (536 chars)

    Discover endless possibilities with this historic 4-bedroom, 1-bath home situated on a spacious . 35-acre corner lot in the heart of Oak Creek. Whether you're looking to update and remodel to create your own unique home, tear down and build your dream residence, or develop a multi-unit property for investment, this location offers unmatched potential. Nestled in a prime Oak Creek neighborhood, the property provides both charm and opportunity for future growth. Bring your vision--this is your chance to make something truly special.

16. 2025-09-27
    historical $300,000 536-char remark

    Show marketing remark (536 chars)

    Discover endless possibilities with this historic 4-bedroom, 1-bath home situated on a spacious . 35-acre corner lot in the heart of Oak Creek. Whether you're looking to update and remodel to create your own unique home, tear down and build your dream residence, or develop a multi-unit property for investment, this location offers unmatched potential. Nestled in a prime Oak Creek neighborhood, the property provides both charm and opportunity for future growth. Bring your vision--this is your chance to make something truly special.

17. 2025-09-21
    listed $289,900 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: $625 · $52/mo
• Projected year-2 tax: $2,994 · $250/mo
• Expected delta: +$2,369/yr (+$197/mo · 379.1%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥96°F today · 13 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: $31,119
• − Mortgage interest: −$16,239
• − Property taxes: −$625
• − Insurance: −$1,450
• − Repairs & maintenance: −$2,490
• − Management: −$2,490
• − Depreciation: −$8,433
• Taxable loss: −$607
• Est. tax savings @ 24.0%: +$146
• After-tax cash flow: $4,412/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: Oak Creek-Franklin Joint School District
• NCES district ID: 5510830
• Math proficiency: 44% ▼ -6.00%
• Reading proficiency: 46% ▼ -4.00%
• Median HH income: $66,558
• Composite: 40.22/100
• National rank: #3779
• State rank: #81 of 342 in WI

Livability — Oak Creek

• Score: 83/100
• State rank: #40
• US rank: #851

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Oak Creek, WI
• County: Milwaukee County · 926,379 people
• City population: 37,325
• Metro: Milwaukee-Waukesha, WI
• Population (ZIP): 37,325
• Household income: $96,555
• Rent vs Own: 42.5% rent · 57.5% own
• Severe rent burden: 1038.0

Population outlook (Milwaukee County) Hauer SSP2

• Today (2025): 995,758 people
• By 2030: 1,009,124 · +1.3%
• By 2040: 1,028,128 · +3.3%
• By 2050: 1,040,066 · +4.4%
• By 2075: 1,057,849 · +6.2%
• By 2100: 1,039,774 · +4.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Hispanic / Latino 12% Two or more races 9% Asian 7% Black 4%
• Hispanic origin (detail): Mexican 10% Puerto Rican 1%
• Common ancestry: Romanian 16% Portuguese 2% Lithuanian 2%
• Foreign-born: 11% · Canada, China
• Languages at home: 83% English-only · Spanish 6% Other Indo-European 5% Other Asian/Pacific 2%

Political lean MEDSL · Milwaukee

• 2024 margin: Solid D (+38.5) · D 68.3% · R 29.8% · Other 1.8%
• 2008→2024 swing: +2.7pp toward D · 2008: 35.9pp · 2024: 38.5pp
• All cycles: 2024: D+38.5 2020: D+39.9 2016: D+37.5 2012: D+34.6 2008: D+35.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -163.29%
• Current HPI: 163.9711
• Rent YoY: ▲ 1.82%
• Metro: Milwaukee-Waukesha, 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

+0.0% since first listed

5 events — show timeline

• 2026-03-22 Listing Removed — METROMLS
• 2025-10-18 Price Changed $289,900 METROMLS
• 2025-10-02 Listed $300,000 METROMLS
• 2025-09-27 Coming Soon $300,000 METROMLS
• 2025-09-21 Listed $289,900 METROMLS

Property tax history

-44.8%/yr

Latest (2016): $625 · -83.2% YoY. Source: county tax records.