1220 N Wisconsin St · Racine, WI 53402

$300,000

None bd · None ba · 2,018 sqft · MultiFamily public records · 4 Days on market

Built 1887 5,662 sqft lot $149/sqft · 111% above area

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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
• DSCR +10.0/10.0
• 1% rule +9.4/10.0
• ARV discount +7.5/15.0
• 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: 4 units. 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

GREAT INCOME PRODUCER! This well-maintained 4-family property includes a mix of units: one spacious 2-bedroom, one 1-bedroom, one large efficiency, and one smaller efficiency--ideal for maximizing rental income. Recent updates throughout include modern flooring, refreshed kitchens and bathrooms, and updated fixtures, offering turnkey appeal for both tenants and investors. Located within walking distance to Lake Michigan, the Root River, vibrant Downtown Racine, and public transportation, this property combines convenience, steady cash flow, and long-term value. A smart addition to any portfolio!

Key facts

• Refreshed kitchens
• Updated flooring
• New windows

Tags

• NEW WINDOWS
• REFRESHED KITCHENS
• UPDATED FLOORING
• FRESHLY PAINTED EXTERIOR
• TUCKPOINTED CHIMNEY
• SEALED FOUNDATION

What this means for you Summary

Snapshot

• This is a 1×2bd/1ba + 3×1bd/1ba units multifamily listed at $300k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive. Per door: $322/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $300k).
• Cap rate 11.4% 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: 106 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 505 units permitted in Racine County in 2024 (287 in 5+ unit buildings).
• At $4,326/mo this rent would consume 69% 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 $2k of loan paydown is wiped out by about $9k 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 $84k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 12 sale attempts since 9y 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.

Risks & watch-outs

• Watch-outs: built in 1887 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $300,000

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 1887 — 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: 1.44% ✓
• Cap rate: 11.44%
• Cash-on-cash: 18.39%
• DSCR: 1.82
• GRM: 5.8

CMA / ARV

• ARV (median comp): $141,933
• List price: $300,000
• Delta: 100.80%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1217 Erie St	0.03mi	6/2.0	2,070 (+3%)	6mo	$205,000	$99	89
1430 Douglas Ave	0.30mi	5/2.0	1,999 (-1%)	3mo	$134,900	$67	82
1842 Lasalle St	0.65mi	5/2.0	1,988 (-2%)	0mo	$165,000	$83	67
1623 Charles St	0.63mi	4/2.0	2,078 (+3%)	5mo	$127,500	$61	62
630 Hagerer St	0.52mi	6/2.0	1,833 (-9%)	2mo	$245,000	$134	59
1715 Saint Clair St	0.47mi	4/2.0	2,209 (+10%)	5mo	$169,000	$77	58
1419 Geneva St	0.43mi	6/2.0	1,803 (-11%)	6mo	$150,000	$83	57
1922 Lasalle St	0.71mi	4/2.0	1,960 (-3%)	7mo	$181,122	$92	56
1723 Erie St	0.48mi	5/2.0	2,311 (+14%)	4mo	$110,000	$48	50
823 Yout St	0.70mi	5/2.0	1,821 (-10%)	3mo	$180,000	$99	49
1312 Hamilton St	0.53mi	3/3.0	1,767 (-12%)	8mo	$141,500	$80	48
1910 Lasalle St	0.68mi	6/2.0	2,219 (+10%)	7mo	$232,000	$105	46

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: 10.1%
• Equity multiple: 1.40×
• Total profit: $33,490
• Equity at exit: $44,731

10-year hold

• IRR: 19.2%
• Equity multiple: 2.61×
• Total profit: $135,161
• Equity at exit: $25,939

Cash invested: $84,000 (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: 106
• Price-to-rent: 21.1×

Monthly cashflow live

• Estimated rent: $4,326 high
• Mortgage (P&I): −$1,573
• Tax from tax record: −$432 /mo · $5,181/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$908
• Net cashflow: $1,288

Break-even live

Break-even rent $2,696

Max offer price $300,000

Occupancy floor 65%

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

Units	Beds	Baths	Est. rent
1× unit	2	1	$1,183
▸ 3× units	1	1	$3,144
Total (4 units)			$4,326

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: $75,000
• Closing costs: $9,000
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
945 N Memorial Dr Unit 1-2-3 Racine, WI	3.0	1.0	1500	$1,450	$0.97	20d	1	0.73mi

Listing history 50 events

1. 2026-06-19
   days on market $300,000 Active 4 DOM
2. 2026-06-18
   days on market $300,000 Active 3 DOM
3. 2026-06-17
   days on market $300,000 Active 2 DOM
4. 2026-06-15
   remarks 699-char remark
5. 2026-06-15
   pricedays on marketlisting id $300,000 Active 1 DOM
6. 2026-06-15
   days on market $285,000 Active 158 DOM
7. 2026-06-14
   days on market $285,000 Active 156 DOM
8. 2026-06-13
   days on market $285,000 Active 155 DOM
9. 2026-06-10
   days on market $285,000 Active 153 DOM
10. 2026-06-09
    days on market $285,000 Active 152 DOM
11. 2026-06-08
    days on market $285,000 Active 151 DOM
12. 2026-06-07
    days on market $285,000 Active 150 DOM
13. 2026-06-05
    days on market $285,000 Active 147 DOM
14. 2026-06-03
    days on market $285,000 Active 146 DOM
15. 2026-06-02
    days on market $285,000 Active 145 DOM
16. 2026-06-01
    days on market $285,000 Active 144 DOM
17. 2026-05-31
    days on market $285,000 Active 143 DOM
18. 2026-05-30
    days on market $285,000 Active 142 DOM
19. 2026-03-11
    status Active 602-char remark

    Show marketing remark (602 chars)

    GREAT INCOME PRODUCER! This well-maintained 4-family property includes a mix of units: one spacious 2-bedroom, one 1-bedroom, one large efficiency, and one smaller efficiency--ideal for maximizing rental income. Recent updates throughout include modern flooring, refreshed kitchens and bathrooms, and updated fixtures, offering turnkey appeal for both tenants and investors. Located within walking distance to Lake Michigan, the Root River, vibrant Downtown Racine, and public transportation, this property combines convenience, steady cash flow, and long-term value. A smart addition to any portfolio!

20. 2026-03-03
    historical Contingent 602-char remark

    Show marketing remark (602 chars)

    GREAT INCOME PRODUCER! This well-maintained 4-family property includes a mix of units: one spacious 2-bedroom, one 1-bedroom, one large efficiency, and one smaller efficiency--ideal for maximizing rental income. Recent updates throughout include modern flooring, refreshed kitchens and bathrooms, and updated fixtures, offering turnkey appeal for both tenants and investors. Located within walking distance to Lake Michigan, the Root River, vibrant Downtown Racine, and public transportation, this property combines convenience, steady cash flow, and long-term value. A smart addition to any portfolio!

21. 2026-02-02
    price $285,000 602-char remark

    Show marketing remark (602 chars)

    GREAT INCOME PRODUCER! This well-maintained 4-family property includes a mix of units: one spacious 2-bedroom, one 1-bedroom, one large efficiency, and one smaller efficiency--ideal for maximizing rental income. Recent updates throughout include modern flooring, refreshed kitchens and bathrooms, and updated fixtures, offering turnkey appeal for both tenants and investors. Located within walking distance to Lake Michigan, the Root River, vibrant Downtown Racine, and public transportation, this property combines convenience, steady cash flow, and long-term value. A smart addition to any portfolio!

22. 2026-01-08
    historical 16-char remark

    Show marketing remark (602 chars)

    GREAT INCOME PRODUCER! This well-maintained 4-family property includes a mix of units: one spacious 2-bedroom, one 1-bedroom, one large efficiency, and one smaller efficiency--ideal for maximizing rental income. Recent updates throughout include modern flooring, refreshed kitchens and bathrooms, and updated fixtures, offering turnkey appeal for both tenants and investors. Located within walking distance to Lake Michigan, the Root River, vibrant Downtown Racine, and public transportation, this property combines convenience, steady cash flow, and long-term value. A smart addition to any portfolio!

23. 2026-01-08
    listed $295,000 Active 602-char remark

    Show marketing remark (602 chars)

    GREAT INCOME PRODUCER! This well-maintained 4-family property includes a mix of units: one spacious 2-bedroom, one 1-bedroom, one large efficiency, and one smaller efficiency--ideal for maximizing rental income. Recent updates throughout include modern flooring, refreshed kitchens and bathrooms, and updated fixtures, offering turnkey appeal for both tenants and investors. Located within walking distance to Lake Michigan, the Root River, vibrant Downtown Racine, and public transportation, this property combines convenience, steady cash flow, and long-term value. A smart addition to any portfolio!

24. 2025-09-29
    historical
25. 2025-09-28
    listed $295,000 Active 16-char remark

    Show marketing remark (16 chars)

    Relisted 1946722

26. 2025-09-27
    status Active
27. 2025-08-24
    historical Contingent
28. 2025-07-30
    price $295,000
29. 2025-06-20
    historical
30. 2025-06-19
    listed $300,000 Active
31. 2025-06-05
    price $305,000
32. 2025-05-27
    status Active
33. 2025-05-17
    historical Contingent
34. 2025-05-13
    price $315,000
35. 2025-05-05
    listed $325,000 Active
36. 2024-04-10
    historical $875
37. 2024-03-15
    listed $875
38. 2024-01-02
    historical $875
39. 2024-01-02
    listed $875
40. 2023-10-24
    soldstatus $263,000
41. 2023-10-15
    historical $875
42. 2023-10-14
    listed $875
43. 2023-10-06
    historical $875
44. 2023-10-05
    listed $875
45. 2023-03-08
    soldstatus $175,000
46. 2022-05-03
    soldstatus $168,000
47. 2017-04-03
    soldstatus $150,000
48. 2017-03-29
    soldstatus $69,000 Sold
49. 2017-03-14
    status Pending
50. 2017-02-01
    price $70,000

ⓘ 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: $5,181 · $432/mo
• Projected year-2 tax: $5,366 · $447/mo
• Expected delta: +$184/yr (+$15/mo · 3.6%)

ⓘ 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: $51,912
• − Mortgage interest: −$16,805
• − Property taxes: −$5,181
• − Insurance: −$1,500
• − Repairs & maintenance: −$4,153
• − Management: −$4,153
• − Depreciation: −$8,727
• Taxable income: $11,393
• Est. tax owed @ 24.0%: −$2,734
• After-tax cash flow: $12,716/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

+338.5% since first listed

33 events — show timeline

• 2026-03-11 Relisted — METROMLS
• 2026-03-03 Contingent — METROMLS
• 2026-02-02 Price Changed $285,000 METROMLS
• 2026-01-08 Listing Removed — METROMLS
• 2026-01-08 Listed $295,000 METROMLS
• 2025-09-29 Listing Removed — METROMLS
• 2025-09-28 Listed $295,000 METROMLS
• 2025-09-27 Relisted — METROMLS
• 2025-08-24 Contingent — METROMLS
• 2025-07-30 Price Changed $295,000 METROMLS
• 2025-06-20 Listing Removed — METROMLS
• 2025-06-19 Listed $300,000 METROMLS
• 2025-06-05 Price Changed $305,000 METROMLS
• 2025-05-27 Relisted — METROMLS
• 2025-05-17 Contingent — METROMLS
• 2025-05-13 Price Changed $315,000 METROMLS
• 2025-05-05 Listed $325,000 METROMLS
• 2024-04-10 Rental Removed $875 APPFOLIO
• 2024-03-15 Listed for Rent $875 APPFOLIO
• 2024-01-02 Rental Removed $875 APPFOLIO
• 2024-01-02 Listed for Rent $875 APPFOLIO
• 2023-10-24 Sold (Public Records) $263,000 Public Records
• 2023-10-15 Rental Removed $875 APPFOLIO
• 2023-10-14 Listed for Rent $875 APPFOLIO
• 2023-10-06 Rental Removed $875 APPFOLIO
• 2023-10-05 Listed for Rent $875 APPFOLIO
• 2023-03-08 Sold (Public Records) $175,000 Public Records
• 2022-05-03 Sold (Public Records) $168,000 Public Records
• 2017-04-03 Sold (Public Records) $150,000 Public Records
• 2017-03-29 Sold (MLS) $69,000 METROMLS
• 2017-03-14 Pending — METROMLS
• 2017-02-01 Price Changed $70,000 METROMLS
• 2017-01-27 Listed $65,000 METROMLS

Property tax history

+4.9%/yr

Latest (2025): $5,181 · +6.6% YoY. Source: county tax records.