1808 27th St · Two Rivers, WI 54241

$169,900

4 bd · 1.0 ba · 1,528 sqft · SingleFamily public records · 28 Days on market

Built 1914 8,276 sqft lot Est $191k · 11% under

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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 +16.0/30.0
• ARV discount +12.5/15.0
• DSCR +5.0/10.0
• 1% rule +4.6/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This newly remodeled 4 bedroom home is just waiting for you new carpet maple hardwood floors beautiful woodwork. Large lot. Call today for your private showing.

Key facts

• Wood floors
• Large yard
• Deck

Tags

• LOW-MAINTENANCE EXTERIOR
• WOOD FLOORS
• DECK
• LARGE YARD

Property features AI

Finance

• Other: Estimated finished above-grade living area in the 1501–1750 sq ft range
• Financial info: Financial details not provided
• HOA & community: No HOA information provided

Exterior

• Parking: Parking details not provided
• Security: No specific security features listed
• Utilities: Municipal water; Municipal sewer; Natural gas available
• Home design: 1.5-story single-family home; Built according to assessor/public record; Zoned R-3
• Construction: Vinyl exterior
• Exterior features: Deck; Garden shed; Sidewalks on the lot

Interior

• Kitchen: Range; Refrigerator; Pantry (kitchen storage)
• Bedrooms: Primary bedroom (Upper) — approximately 12 x 11; Bedroom 2 (Main) — approximately 9 x 9; Bedroom 3 (Upper) — approximately 11 x 9; Bedroom 4 (Upper) — approximately 11 x 8; Additional other room (Main) — approximately 9 x 5
• Flooring: Wood floors
• Bathrooms: One full bath (tub only / shower over tub); One half bath
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Cable/satellite available; High-speed internet available; Pantry; Wood floors; Full basement
• Laundry & utility: Utilities information available (see Utilities section)

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $85 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $163k (3.8% below list).
• Recommended offer: $163k (3.8% below list) — sets the bar for 1% rule.
• Cap rate 6.9% vs local median 4.0% in Two Rivers — 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 71/100 on livability (#280 in WI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: amenities F, commute F, health & safety D-.
• Two Rivers Public School District (town): math 20% / reading 28% proficiency, ranked #318 of 342 in WI (top 93%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Magee Elementary (math 32% / reading 32%, grade F, #662 of 1,041 statewide, top 67%, 313 students, 36% FRL); Clarke Middle (math 17% / reading 28%, grade F, #334 of 383 statewide, top 87%, 462 students, 46% FRL); Two Rivers High (math 12% / reading 22%, grade F, #400 of 483 statewide, top 85%, 474 students, 35% FRL) — zoned schools at 39% FRL track the district average.
• Market conditions: 67 active listings in the ZIP; 100 units permitted in Manitowoc County in 2024 (0 in 5+ unit buildings).
• This rent runs 32% of the median local income ($61k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Manitowoc County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($167k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 13y 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 1914 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $163,389 (3.8% below list)

Questions for the listing agent

1. Built in 1914 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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.

Investment metrics

• 1% rule: 0.96% ✗
• Cap rate: 6.89%
• Cash-on-cash: 2.15%
• DSCR: 1.10
• GRM: 8.7

CMA / ARV

• ARV (on-the-fly): $191,000
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1808 27th St	0.00mi	4/1.5	1,528 (0%)	0mo	$170,000	$111	98
2605 School St	0.07mi	4/1.0	1,581 (+4%)	1mo	$150,000	$95	90
1726 27th St	0.04mi	3/1.5 (-1)	1,674 (+10%)	0mo	$275,000	$164	75
2324 Forest Ave	0.23mi	3/2.0 (-1)	1,452 (-5%)	3mo	$175,000	$121	69
2812 School St	0.11mi	3/1.5 (-1)	1,371 (-10%)	3mo	$199,900	$146	68
3504 Monroe St	0.55mi	3/1.0 (-1)	1,478 (-3%)	4mo	$150,000	$101	60
2522 Lincoln Ave	0.69mi	4/1.5	1,512 (-1%)	6mo	$159,900	$106	59
1024 31st St	0.66mi	3/1.5 (-1)	1,536 (+0%)	5mo	$192,000	$125	57
1013 28th St	0.66mi	3/1.5 (-1)	1,563 (+2%)	3mo	$212,000	$136	56
3405 Mishicot Rd	0.72mi	3/1.0 (-1)	1,507 (-1%)	5mo	$218,000	$145	55
3605 Tannery Rd	0.65mi	3/1.0 (-1)	1,428 (-6%)	2mo	$198,500	$139	52
1313 22nd St	0.52mi	4/1.0	1,738 (+14%)	5mo	$135,000	$78	49

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: -12.9%
• Equity multiple: 0.54×
• Total profit: $-22,066
• Equity at exit: $25,333

10-year hold

• IRR: -3.8%
• Equity multiple: 0.75×
• Total profit: $-12,055
• Equity at exit: $14,690

Cash invested: $47,572 (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 54241

• Home prices YoY: -28.7%
• Active inventory: 67
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,634 medium
• Mortgage (P&I): −$891
• Tax from tax record: −$244 /mo · $2,927/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$343
• Net cashflow: $85

Break-even live

Break-even rent $1,526

Max offer price $169,900

Occupancy floor 90%

Sensitivity live

Price	-10% $181	-5% $133	+0% $85	+5% $37	+10% $-11
Rent	-10% $-44	-5% $21	+0% $85	+5% $150	+10% $214
Rate	-1.0pp $171	-0.5pp $128	base $85	+0.5pp $41	+1.0pp $-4

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-07
   statusdays on market $169,900 Pending 28 DOM
2. 2026-06-03
   days on market $169,900 Contingent 27 DOM
3. 2026-06-02
   days on market $169,900 Contingent 26 DOM
4. 2026-06-01
   days on market $169,900 Contingent 25 DOM
5. 2026-05-31
   days on market $169,900 Contingent 24 DOM
6. 2026-05-30
   days on market $169,900 Contingent 23 DOM
7. 2026-05-10
   historical Contingent
8. 2026-05-06
   listed $169,900 Active
9. 2024-11-15
   historical $1,400
10. 2024-10-17
    listed $1,400
11. 2013-02-04
    listed $76,499 160-char remark

    Show marketing remark (160 chars)

    This newly remodeled 4 bedroom home is just waiting for you new carpet maple hardwood floors beautiful woodwork. Large lot. Call today for your private showing.

12. 2013-02-04
    historical 160-char remark

    Show marketing remark (160 chars)

    This newly remodeled 4 bedroom home is just waiting for you new carpet maple hardwood floors beautiful woodwork. Large lot. Call today for your private showing.

ⓘ 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: $2,927 · $244/mo
• Projected year-2 tax: $3,035 · $253/mo
• Expected delta: +$108/yr (+$9/mo · 3.7%)

ⓘ 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 1/10 Low 7 d/yr ≥89°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,607
• − Mortgage interest: −$9,517
• − Property taxes: −$2,927
• − Insurance: −$850
• − Repairs & maintenance: −$1,569
• − Management: −$1,569
• − Depreciation: −$4,943
• Taxable loss: −$1,766
• Est. tax savings @ 24.0%: +$424
• After-tax cash flow: $1,445/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: Two Rivers Public School District
• NCES district ID: 5515120
• Math proficiency: 20% ▼ -11.00%
• Reading proficiency: 28% ▼ -5.00%
• Median HH income: $44,006
• Composite: 20.63/100
• National rank: #8545
• State rank: #318 of 342 in WI

Livability — Two Rivers

• Score: 71/100
• State rank: #280
• US rank: #7250

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Two Rivers, WI
• County: Manitowoc County · 55,069 people
• City population: 14,120
• Metro: Manitowoc, WI
• Population (ZIP): 14,120
• Household income: $61,014
• Rent vs Own: 22.3% rent · 77.7% own
• Severe rent burden: 199.0

Population outlook (Manitowoc County) Hauer SSP2

• Today (2025): 76,561 people
• By 2030: 74,096 · -3.2%
• By 2040: 67,752 · -11.5%
• By 2050: 60,731 · -20.7%
• By 2075: 48,723 · -36.4%
• By 2100: 39,250 · -48.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 7% Hispanic / Latino 5%
• Common ancestry: Romanian 12% Lithuanian 5% Portuguese 4%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 3%

Political lean MEDSL · Manitowoc

• 2024 margin: Strong R (+23.4) · D 37.6% · R 61.0% · Other 1.4%
• 2008→2024 swing: -30.9pp toward R · 2008: 7.5pp · 2024: -23.4pp
• All cycles: 2024: R+23.4 2020: R+23.2 2016: R+21.7 2012: R+2.8 2008: D+7.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -105.14%
• Current HPI: 261.6254
• Rent YoY: —
• Metro: Manitowoc, 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

+122.1% since first listed

6 events — show timeline

• 2026-05-10 Contingent — METROMLS
• 2026-05-06 Listed $169,900 METROMLS
• 2024-11-15 Rental Removed $1,400 APPFOLIO
• 2024-10-17 Listed for Rent $1,400 APPFOLIO
• 2013-02-04 Listing Removed — METROMLS
• 2013-02-04 Listed $76,499 METROMLS

Property tax history

+4.8%/yr

Latest (2025): $2,927 · +3.3% YoY. Source: county tax records.