4910 17th Ave

Kenosha, WI 53140

$114,900B+

3 bd · 1.0 ba · 1,527 sqft · Built 1907 · SingleFamily · Contingent · 23 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,100/mo
• Mortgage (P&I): −$603
• Tax + insurance: −$196
• HOA: −$0
• Vac / Maint / Mgmt: −$441
• Net cashflow: $860/mo
• Annual: $10,319/yr
• Cap rate: 15.27%
• Cash-on-cash: 32.08%
• DSCR: 2.43
• 1% rule: 1.83%
• Cash to close: $32,172

Investor read

• This is a 3-bed/1.0-bath single-family listed at $115k.
• At list price, monthly cash flow is $860 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• It's been on market 23 days — a 2% lower offer ($113k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $113k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $794 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• 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-.
• 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.
• Zoned schools: Grant Elementary (math 17% / reading 12%, grade F, #910 of 1,041 statewide, top 88%, 190 students, 79% FRL); Bradford High (math 11% / reading 21%, grade F, #412 of 483 statewide, top 85%, 1,389 students, 66% FRL) — zoned schools average 73% FRL vs 45% district-wide (28 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 15% at this address vs 28% district-wide (-13 pts) — the specific schools serving this property underperform the Kenosha School District average; the district grade overstates school quality for this exact location.
• Watch-outs: built in 1907 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+6.0%/yr); 43 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 259 units permitted in Kenosha County in 2024 (8 in 5+ unit buildings).
• 2 sale attempts since 13y ago; this cycle's ask has dropped $35k (23%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (-3.0% appreciation + 6.0% rent growth), your $32k cash investment doubles in ~4 years — after that, you're playing with house money.
• Cap rate 15.3% vs local median 3.8% 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.
• This rent runs 43% of the median local income ($58k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• Built in 1907 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.