509 3 Mile ROADRacineWI53402
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Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Investment Highlights
Rental property for sale in Racine at 509 3 Mile ROAD, Racine, WI, 53402 priced at $487,500 converts $1,231/mo rent into after a $2,386/mo obligation. Total monthly income equals $1,231/mo. Return on cash invested prints 4.76% in year one, and rental yield reads 3.03% against a $487,500 entry. Equity gained on principal adds $3,146/yr, while 5% annual appreciation compiles into $134,687 by year five. Five-year ROI reaches 22.29% and total cumulative return in cash sums $36,019. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,231/mo property income covering a $2,386/mo payment, not borrower’s personal income.
Multi Family
Built in 1958
9,147 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 53402, Racine, WI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 14,759 (100%) |
| Owner Occupied HU | 9,648 (65.4%) |
| Renter Occupied HU | 4,248 (28.8%) |
| Vacant Housing Units | 863 ( 5.8%) |
| Median Home Value | $263,919 |
| Average Home Value | $337,495 |
Housing Distribution
Address Breakdown
Residential
14,345
Single Family
12,540
Multi-Family
1,805
Businesses
454
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Listed by: Nicole Barkulis • Land-Quest Realty, LLC
Mls Name: WIREX MLS
Mls Provider:
Mls ID: #1911403
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.