907 High St Unit 907A · West Bend, WI 53090

$375,000

4 bd · 2.0 ba · 1,968 sqft · MultiFamily · 11 Days on market

Built 1953 Average condition 9,147 sqft lot Est $337k · 11% over

---

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 +20.2/30.0
• DSCR +6.4/10.0
• 1% rule +5.3/10.0
• Schools +4.1/10.0
• Livability +4.0/5.0
• Condition / age +2.8/5.0
• Rent growth +2.5/5.0
• ARV discount +2.4/15.0
• 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

Coming Soon sprawling duplex just a quick walk from Regner Park.

Key facts

• Sprawling duplex
• 9,147 sq ft lot
• 2 garage spots

Tags

• SPRAWLING DUPLEX
• QUICK WALK FROM REGNER PARK

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $375k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $471 ($6k/yr) — positive. Per door: $236/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $375k).
• Cap rate 7.8% vs local median 2.4% in West Bend — 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 79/100 on livability (#80 in WI, #2,147 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities D+, commute F.
• West Bend School District (suburban): math 50% / reading 43% proficiency, ranked #73 of 342 in WI (top 21%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Green Tree Elementary (math 42% / reading 32%, grade F, #562 of 1,041 statewide, top 58%, 379 students, 45% FRL); Badger Middle (math 47% / reading 43%, grade D, #92 of 383 statewide, top 24%, 851 students, 32% FRL); West High (math 34% / reading 38%, grade F, #138 of 483 statewide, top 29%, 1,075 students, 28% FRL).
• Market conditions: 52 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 453 units permitted in Washington County in 2024 (105 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.
• Washington County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $375,000

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 1953 — 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 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. 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?
7. 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.
8. 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.
9. 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: 7.80%
• Cash-on-cash: 5.39%
• DSCR: 1.24
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $336,528
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1510 Monroe St #1512	0.35mi	4/3.0	1,910 (-3%)	1mo	$320,000	$168	74
245 N 8th Ave	0.69mi	4/2.0	1,840 (-6%)	13mo	$320,000	$174	46
1909 Salisbury Rd #1911	0.73mi	4/2.0	1,696 (-14%)	1mo	$290,000	$171	42

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: -7.9%
• Equity multiple: 0.71×
• Total profit: $-30,691
• Equity at exit: $55,914

10-year hold

• IRR: 1.6%
• Equity multiple: 1.12×
• Total profit: $12,164
• Equity at exit: $32,423

Cash invested: $105,000 (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 53090

• Active inventory: 52
• Price-to-rent: 16.1×

Monthly cashflow live

• Estimated rent: $3,877 high
• Mortgage (P&I): −$1,967
• Tax est. 1.5%: −$469 /mo · $5,625/yr
• Insurance: −$156
• HOA: −$0
• Vacancy / Maint / Mgmt: −$814
• Net cashflow: $471

Break-even live

Break-even rent $3,280

Max offer price $375,000

Occupancy floor 83%

Sensitivity live

Price	-10% $730	-5% $601	+0% $471	+5% $342	+10% $212
Rent	-10% $165	-5% $318	+0% $471	+5% $624	+10% $778
Rate	-1.0pp $660	-0.5pp $567	base $471	+0.5pp $374	+1.0pp $275

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,876
Total (2 units)			$3,877

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: $93,750
• Closing costs: $11,250
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
433 N Main St West Bend, WI	3.0	1.0–2.5	1097	$2,895	$2.64	3d	36	0.59mi

Listing history 7 events

1. 2026-06-21
   days on market $375,000 Coming Soon 11 DOM
2. 2026-06-18
   days on market $375,000 Coming Soon 8 DOM
3. 2026-06-17
   days on market $375,000 Coming Soon 7 DOM
4. 2026-06-16
   days on market $375,000 Coming Soon 6 DOM
5. 2026-06-15
   days on market $375,000 Coming Soon 5 DOM
6. 2026-06-13
   remarks 64-char remark
7. 2026-06-13
   listed $375,000 Coming Soon 3 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥98°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: $46,524
• − Mortgage interest: −$21,006
• − Property taxes: −$5,625
• − Insurance: −$1,875
• − Repairs & maintenance: −$3,722
• − Management: −$3,722
• − Depreciation: −$10,909
• Taxable loss: −$335
• Est. tax savings @ 24.0%: +$80
• After-tax cash flow: $5,736/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.

Condition & rehab AI · 1 photo

Average 55/100 Cosmetic rehab

A well-maintained, average condition multi-family home with cosmetic updates needed to enhance its resale and rental value.

Repairs flagged

• Major interior walls/paint — Paint appears worn in some areas
• Major interior walls/paint — Paint appears worn in some areas

Value-add opportunities

• Both paint interior walls — Fresh paint can improve the home's appearance and appeal to buyers
• Both update flooring — Fresh flooring can improve the home's appearance and appeal to buyers
• Both update bathrooms — Fresh bathrooms can improve the home's appearance and appeal to buyers

Renovation cost estimate screening

Repair item	Severity	Est. cost
interior walls/paint · Paint appears worn in some areas	Major	$15,000–50,000
interior walls/paint · Paint appears worn in some areas	Major	$15,000–50,000
Total estimated repair cost · 2 items		$30,000–100,000

Value-add ROI direction

• Both paint interior walls — Fresh paint can improve the home's appearance and appeal to buyers ↑
• Both update flooring — Fresh flooring can improve the home's appearance and appeal to buyers ↑
• Both update bathrooms — Fresh bathrooms can improve the home's appearance and appeal to buyers ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: West Bend School District
• NCES district ID: 5516290
• Math proficiency: 50% ▼ -4.00%
• Reading proficiency: 43% ▼ -5.00%
• Median HH income: $59,641
• Composite: 40.84/100
• National rank: #3630
• State rank: #73 of 342 in WI

Livability — West Bend

• Score: 79/100
• State rank: #80
• US rank: #2147

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: West Bend, WI
• City population: 27,817
• Population (ZIP): 21,889

Population outlook (Washington County) Hauer SSP2

• Today (2025): 137,678 people
• By 2030: 138,441 · +0.6%
• By 2040: 137,047 · -0.5%
• By 2050: 130,918 · -4.9%
• By 2075: 115,447 · -16.1%
• By 2100: 93,069 · -32.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 4% Hispanic / Latino 3% Black 1%
• Common ancestry: Romanian 10% Portuguese 3% Lithuanian 3%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Washington

• 2024 margin: Solid R (+36.3) · D 31.3% · R 67.6% · Other 1.2%
• 2008→2024 swing: -6.7pp toward R · 2008: -29.6pp · 2024: -36.3pp
• All cycles: 2024: R+36.3 2020: R+38.1 2016: R+40.5 2012: R+40.2 2008: R+29.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -170.72%
• Current HPI: 176.9746
• Rent YoY: —
• Metro: —
• 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

1 event — show timeline

• 2026-06-10 Coming Soon $375,000 METROMLS