W5643 Main St · Nichols, WI 54152

$134,900

2 bd · 1.0 ba · 1,188 sqft · SingleFamily · 18 Days on market

Built 1923 10,019 sqft lot Est $238k · 43% under

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Why this score? — see what drove the C- 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).

• ARV discount +15.0/15.0
• Cash flow +13.6/30.0
• Appreciation +5.0/10.0
• DSCR +4.1/10.0
• Livability +3.1/5.0
• 1% rule +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0

Listing remarks

Unique 2BR/1BA zero-lot line ranch located at the corner of Main St & Ellen St in the Village of Nichols. Kitchen w/ pantry & new lower cabinetry. Freshly painted interior with new carpet! Vinyl windows, knotty-pine trim. Large primary bedroom w/ exposed brick & direct entry. Spacious 2nd bedroom w/ 3-panel pine door. Full bath w/ laundry accommodations & included dryer. Finished mechanical room & bonus utility room w/ potential for additional half-bath. 1.5 stall attached garage accessed via large breezeway / mud-room. Yard w/ shade trees, peaceful setting, great value!

Key facts

• Vinyl windows
• Exposed brick
• Kitchen w pantry

Tags

• KITCHEN W PANTRY
• VINYL WINDOWS
• KNOTTY-PINE TRIM
• EXPOSED BRICK
• DIRECT ENTRY
• 3-PANEL PINE DOOR

Property features AI

Finance

• Other: Lot about 0.23 acre (less than 1/2 acre); Zoned residential

Exterior

• Parking: Attached 1-car garage
• Utilities: Municipal water; Municipal sewer
• Home design: Single-family, one-story; Zero lot line / detached; Construction completed
• Construction: Finished above-grade living area approximately 1,188; No finished below-grade area; Year built from assessor/public record
• Exterior features: Brick, brick/stone, vinyl, and cedar exterior materials; Sidewalks

Interior

• Kitchen: Main-level kitchen (10 x 17); Range/Oven; Microwave
• Bedrooms: Main-level primary bedroom (15 x 19); Main-level second bedroom (11 x 15)
• Bathrooms: One full bathroom with at least one tub
• Heating & cooling: Forced air heating; Natural gas heat
• Interior features: Pantry
• Laundry & utility: Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $7 ($89/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 $105k (22.4% below list).
• Recommended offer: $105k (22.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 61/100 on livability (#683 in WI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: amenities F, commute F, health & safety D-.
• Seymour Community School District (town): math 27% / reading 26% proficiency, ranked #294 of 342 in WI (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Black Creek Elementary (math 34% / reading 33%, grade F, #657 of 1,041 statewide, top 63%, 378 students, 27% FRL); Seymour Middle (math 24% / reading 24%, grade F, #325 of 383 statewide, top 85%, 301 students, 39% FRL); Seymour High (math 22% / reading 22%, grade F, #349 of 483 statewide, top 75%, 653 students, 29% FRL).
• Market conditions: 1 active listings in the ZIP; 460 units permitted in Outagamie County in 2024 (30 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($933 loan paydown + $4k appreciation (3.0% local appreciation)).
• Outagamie County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $38k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($133k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1923 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $104,680 (22.4% below list)

Questions for the listing agent

1. Built in 1923 — 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 F-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. 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.
5. 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.
6. 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: 0.78% ✗
• Cap rate: 6.36%
• Cash-on-cash: 0.24%
• DSCR: 1.01
• GRM: 10.7

CMA / ARV

• ARV (on-the-fly): $237,600
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
N9018 Krull Rd	0.14mi	2/0.5	1,064 (-10%)	9mo	$163,000	$153	66
N8885 Meulemans Rd	0.50mi	3/1.0 (+1)	1,300 (+9%)	21mo	$260,000	$200	38
N9199 Krull Rd	0.43mi	3/1.5 (+1)	1,312 (+10%)	22mo	$300,000	$229	37

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: 7.7%
• Equity multiple: 1.44×
• Total profit: $16,670
• Equity at exit: $60,657

10-year hold

• IRR: 10.3%
• Equity multiple: 2.55×
• Total profit: $58,629
• Equity at exit: $93,479

Cash invested: $37,772 (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 54152

• Active inventory: 1
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $1,047 medium
• Mortgage (P&I): −$707
• Tax from tax record: −$56 /mo · $671/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$220
• Net cashflow: $7

Break-even live

Break-even rent $1,037

Max offer price $134,900

Occupancy floor 94%

Sensitivity live

Price	-10% $84	-5% $46	+0% $7	+5% $-31	+10% $-69
Rent	-10% $-75	-5% $-34	+0% $7	+5% $49	+10% $90
Rate	-1.0pp $75	-0.5pp $42	base $7	+0.5pp $-28	+1.0pp $-63

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: $33,725
• Closing costs: $4,047
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-21
   days on market $134,900 Active 18 DOM
2. 2026-06-19
   days on market $134,900 Active 16 DOM
3. 2026-06-18
   days on market $134,900 Active 15 DOM
4. 2026-06-17
   days on market $134,900 Active 14 DOM
5. 2026-06-16
   days on market $134,900 Active 13 DOM
6. 2026-06-15
   days on market $134,900 Active 12 DOM
7. 2026-06-14
   days on market $134,900 Active 10 DOM
8. 2026-06-13
   days on market $134,900 Active 9 DOM
9. 2026-06-10
   days on market $134,900 Active 7 DOM
10. 2026-06-09
    days on market $134,900 Active 6 DOM
11. 2026-06-08
    days on market $134,900 Active 5 DOM
12. 2026-06-07
    days on market $134,900 Active 4 DOM
13. 2026-06-05
    remarks 587-char remark
14. 2026-06-05
    listed $134,900 Active 1 DOM

ⓘ 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: $671 · $56/mo
• Projected year-2 tax: $1,583 · $132/mo
• Expected delta: +$912/yr (+$76/mo · 136.0%)

ⓘ 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 ≥98°F today · 12 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,562
• − Mortgage interest: −$7,556
• − Property taxes: −$671
• − Insurance: −$674
• − Repairs & maintenance: −$1,005
• − Management: −$1,005
• − Depreciation: −$3,924
• Taxable loss: −$2,275
• Est. tax savings @ 24.0%: +$546
• After-tax cash flow: $635/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: Seymour Community School District
• NCES district ID: 5513530
• Math proficiency: 27% ▼ -8.00%
• Reading proficiency: 26% ▼ -9.00%
• Median HH income: $55,845
• Composite: 23.87/100
• National rank: #7800
• State rank: #294 of 342 in WI

Livability — Nichols

• Score: 61/100
• State rank: #683
• US rank: #18311

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Nichols, WI
• City population: 253
• Population (ZIP): 253

Population outlook (Outagamie County) Hauer SSP2

• Today (2025): 195,863 people
• By 2030: 201,154 · +2.7%
• By 2040: 209,053 · +6.7%
• By 2050: 211,957 · +8.2%
• By 2075: 214,299 · +9.4%
• By 2100: 200,825 · +2.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Hispanic / Latino 16% Two or more races 10% Black 4%
• Hispanic origin (detail): Mexican 16%
• Common ancestry: Romanian 11% Lithuanian 4% Iranian 4%
• Foreign-born: 6% · Canada
• Languages at home: 88% English-only · Spanish 11% Other Indo-European 2%

Political lean MEDSL · Outagamie

• 2024 margin: R (+10.2) · D 44.2% · R 54.4% · Other 1.5%
• 2008→2024 swing: -21.8pp toward R · 2008: 11.6pp · 2024: -10.2pp
• All cycles: 2024: R+10.2 2020: R+9.9 2016: R+12.6 2012: R+1.8 2008: D+11.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

• 2026-05-29 Listed $134,900 RANW

Property tax history

-1.8%/yr

Latest (2025): $671 · -0.9% YoY. Source: county tax records.