1623 Maple St · Racine, WI 53404

$225,000

5 bd · 2.0 ba · 1,707 sqft · MultiFamily public records · 31 Days on market

Built 1900 7,405 sqft lot Est $159k · 42% over

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Why this score? — see what drove the D+ 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 +22.4/30.0
• DSCR +7.2/10.0
• 1% rule +5.3/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• ARV discount +0.0/15.0
• 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

Bulk Package Sale -1813 Grange Ave. Racine, WI 53403 MLS - 1753336 2223 53rd St. Kenosha, WI 53140 MLS - 1753370 2316 53rd St. Kenosha, WI 53140 MLS - 1753366 2223 53rd St Kenosha, WI 53140 MLS - 1753374 2624 81st St. Kenosha, WI 53143 MLS - 1753378 2639 Wright Ave. Racine, WI 53405 MLS - 1753380 5113 25th Ave. Kenosha, WI 53140 MLS - 1753381 6336 Sheridan Rd. Kenosha, WI 53143 MLS - 1753382 6417 22nd Ave. Kenosha, WI 53140 MLS - 1753383 7324 38th Ave. Kenosha, WI 53142 MLS - 1753360 1813 Grange Ave, Racine, WI 53403

Key facts

• Brand new roof
• Spacious kitchen
• Freshly painted

Tags

• WELL MAINTAINED DUPLEX
• FRESHLY PAINTED
• DURABLE LVP FLOORING
• SPACIOUS KITCHEN
• ABUNDANT NATURAL LIGHT
• BRAND NEW ROOF

Property features AI

Finance

• Other: Sold/rented items excluded: tenant personal property

Exterior

• Utilities: Municipal water; Municipal sewer; 2 electric meters; 2 gas meters
• Home design: Duplex; 2-story building; Multi-family property; Lot smaller than 1/2 acre (approx. 0.17 acre)
• Construction: Assessor/public record used for year built
• Exterior features: Vinyl exterior; Zoning: R3

Interior

• Kitchen: Two kitchens (one per unit); Included: 2 refrigerators, 2 ovens/ranges
• Bedrooms: Unit 1: 3 bedrooms; Unit 2: 2 bedrooms (master on main level)
• Bathrooms: Unit 1: 1 full bathroom; Unit 2: 1 full bathroom
• Interior features: Full brick basement

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $225k.

Deal economics

• At list price, monthly cash flow is $375 ($4k/yr) — positive. Per door: $187/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $225k).
• Recommended offer: $218k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.3% 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: Fratt Elementary (math 2% / reading 8%, grade F, #968 of 1,041 statewide, top 98%, 448 students, 75% FRL); Starbuck - An Ib World School (math 8% / reading 21%, grade F, #366 of 383 statewide, top 96%, 509 students, 62% FRL); Park High (math 6% / reading 11%, grade F, #465 of 483 statewide, top 96%, 1,038 students, 70% FRL).
• Market conditions: 25 active listings in the ZIP; 505 units permitted in Racine County in 2024 (287 in 5+ unit buildings).
• At $2,327/mo this rent would consume 55% 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 $2k of loan paydown is wiped out by about $7k 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.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($218k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 16y 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 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $218,250 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 1.03% ✓
• Cap rate: 8.29%
• Cash-on-cash: 7.13%
• DSCR: 1.32
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $158,751
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
223 N Memorial Dr	0.19mi	5/2.0	1,829 (+7%)	3mo	$94,000	$51	76
1001 Delamere Ave	0.38mi	5/2.0	1,772 (+4%)	2mo	$195,000	$110	74
119 Howland Ave	0.21mi	5/2.0	1,666 (-2%)	14mo	$125,000	$75	74
1627 Liberty St	0.24mi	5/2.0	1,762 (+3%)	14mo	$164,000	$93	72
332 Luedtke Ave	0.30mi	4/2.0 (-1)	1,760 (+3%)	6mo	$175,000	$99	70
228 Howland Ave	0.13mi	5/2.0	1,896 (+11%)	7mo	$75,000	$40	70
1518 Liberty St	0.27mi	5/2.5	1,642 (-4%)	18mo	$138,800	$85	64
1905 Ehlert St	0.27mi	4/2.0 (-1)	1,520 (-11%)	1mo	$210,000	$138	63
2105 Clarence Ave	0.37mi	5/2.0	1,962 (+15%)	7mo	$229,900	$117	52
1108 Reschke Ave	0.65mi	4/2.0 (-1)	1,616 (-5%)	15mo	$160,000	$99	44
1927 Harriet St	0.62mi	4/2.0 (-1)	1,920 (+12%)	8mo	$170,000	$89	39
1942 State St	0.70mi	6/2.0 (+1)	1,958 (+15%)	12mo	$140,000	$72	28

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: -5.4%
• Equity multiple: 0.80×
• Total profit: $-12,626
• Equity at exit: $33,548

10-year hold

• IRR: 4.3%
• Equity multiple: 1.31×
• Total profit: $19,637
• Equity at exit: $19,454

Cash invested: $63,000 (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 53404

• Home prices YoY: -33.1%
• Active inventory: 25
• Price-to-rent: 16.1×

Monthly cashflow live

• Estimated rent: $2,327 high
• Mortgage (P&I): −$1,180
• Tax from tax record: −$190 /mo · $2,281/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$489
• Net cashflow: $375

Break-even live

Break-even rent $1,853

Max offer price $225,000

Occupancy floor 79%

Sensitivity live

Price	-10% $502	-5% $438	+0% $375	+5% $311	+10% $247
Rent	-10% $191	-5% $283	+0% $375	+5% $466	+10% $558
Rate	-1.0pp $488	-0.5pp $432	base $375	+0.5pp $316	+1.0pp $257

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,328
Total (2 units)			$2,327

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-21
   days on market $225,000 Active 31 DOM
2. 2026-06-19
   days on market $225,000 Active 29 DOM
3. 2026-06-18
   days on market $225,000 Active 28 DOM
4. 2026-06-17
   days on market $225,000 Active 27 DOM
5. 2026-06-16
   days on market $225,000 Active 26 DOM
6. 2026-06-15
   days on market $225,000 Active 25 DOM
7. 2026-06-14
   days on market $225,000 Active 23 DOM
8. 2026-06-13
   days on market $225,000 Active 22 DOM
9. 2026-06-10
   days on market $225,000 Active 20 DOM
10. 2026-06-09
    days on market $225,000 Active 19 DOM
11. 2026-06-08
    days on market $225,000 Active 18 DOM
12. 2026-06-07
    days on market $225,000 Active 17 DOM
13. 2026-06-05
    days on market $225,000 Active 14 DOM
14. 2026-06-03
    days on market $225,000 Active 13 DOM
15. 2026-06-02
    days on market $225,000 Active 12 DOM
16. 2026-06-01
    days on market $225,000 Active 11 DOM
17. 2026-05-31
    days on market $225,000 Active 10 DOM
18. 2026-05-30
    days on market $225,000 Active 9 DOM
19. 2026-05-21
    listed $225,000 Active
20. 2021-07-22
    soldstatus $275,000
21. 2021-07-22
    soldstatus $275,000
22. 2021-07-21
    soldstatus $102,751 Sold 522-char remark

    Show marketing remark (522 chars)

    Bulk Package Sale -1813 Grange Ave. Racine, WI 53403 MLS - 1753336 2223 53rd St. Kenosha, WI 53140 MLS - 1753370 2316 53rd St. Kenosha, WI 53140 MLS - 1753366 2223 53rd St Kenosha, WI 53140 MLS - 1753374 2624 81st St. Kenosha, WI 53143 MLS - 1753378 2639 Wright Ave. Racine, WI 53405 MLS - 1753380 5113 25th Ave. Kenosha, WI 53140 MLS - 1753381 6336 Sheridan Rd. Kenosha, WI 53143 MLS - 1753382 6417 22nd Ave. Kenosha, WI 53140 MLS - 1753383 7324 38th Ave. Kenosha, WI 53142 MLS - 1753360 1813 Grange Ave, Racine, WI 53403

23. 2021-07-20
    historical 522-char remark

    Show marketing remark (522 chars)

    Bulk Package Sale -1813 Grange Ave. Racine, WI 53403 MLS - 1753336 2223 53rd St. Kenosha, WI 53140 MLS - 1753370 2316 53rd St. Kenosha, WI 53140 MLS - 1753366 2223 53rd St Kenosha, WI 53140 MLS - 1753374 2624 81st St. Kenosha, WI 53143 MLS - 1753378 2639 Wright Ave. Racine, WI 53405 MLS - 1753380 5113 25th Ave. Kenosha, WI 53140 MLS - 1753381 6336 Sheridan Rd. Kenosha, WI 53143 MLS - 1753382 6417 22nd Ave. Kenosha, WI 53140 MLS - 1753383 7324 38th Ave. Kenosha, WI 53142 MLS - 1753360 1813 Grange Ave, Racine, WI 53403

24. 2021-06-30
    listed $101,000 522-char remark

    Show marketing remark (522 chars)

    Bulk Package Sale -1813 Grange Ave. Racine, WI 53403 MLS - 1753336 2223 53rd St. Kenosha, WI 53140 MLS - 1753370 2316 53rd St. Kenosha, WI 53140 MLS - 1753366 2223 53rd St Kenosha, WI 53140 MLS - 1753374 2624 81st St. Kenosha, WI 53143 MLS - 1753378 2639 Wright Ave. Racine, WI 53405 MLS - 1753380 5113 25th Ave. Kenosha, WI 53140 MLS - 1753381 6336 Sheridan Rd. Kenosha, WI 53143 MLS - 1753382 6417 22nd Ave. Kenosha, WI 53140 MLS - 1753383 7324 38th Ave. Kenosha, WI 53142 MLS - 1753360 1813 Grange Ave, Racine, WI 53403

25. 2012-07-12
    soldstatus $58,000
26. 2010-12-21
    listed $49,900 140-char remark

    Show marketing remark (140 chars)

    Fantastic Investment Opportunity! Seperate gas and electric, two furnaces and hot water heaters. Seperate private entrances. Sold ''as is''.

27. 2010-12-21
    historical 140-char remark

    Show marketing remark (140 chars)

    Fantastic Investment Opportunity! Seperate gas and electric, two furnaces and hot water heaters. Seperate private entrances. Sold ''as is''.

28. 2010-04-20
    soldstatus $12,400

ⓘ 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: $2,281 · $190/mo
• Projected year-2 tax: $3,222 · $268/mo
• Expected delta: +$941/yr (+$78/mo · 41.2%)

ⓘ 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: $27,924
• − Mortgage interest: −$12,603
• − Property taxes: −$2,281
• − Insurance: −$1,125
• − Repairs & maintenance: −$2,234
• − Management: −$2,234
• − Depreciation: −$6,545
• Taxable income: $901
• Est. tax owed @ 24.0%: −$216
• After-tax cash flow: $4,278/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

+1714.5% since first listed

10 events — show timeline

• 2026-05-21 Listed $225,000 METROMLS
• 2021-07-22 Sold (Public Records) $275,000 Public Records
• 2021-07-22 Sold (Public Records) $275,000 Public Records
• 2021-07-21 Sold (MLS) $102,751 METROMLS
• 2021-07-20 Listing Removed — METROMLS
• 2021-06-30 Listed $101,000 METROMLS
• 2012-07-12 Sold (Public Records) $58,000 Public Records
• 2010-12-21 Listing Removed — METROMLS
• 2010-12-21 Listed $49,900 METROMLS
• 2010-04-20 Sold (Public Records) $12,400 Public Records

Property tax history

+1.1%/yr

Latest (2025): $2,281 · +9.4% YoY. Source: county tax records.