118 N 8th Ave · Winneconne, WI 54986

$199,900

2 bd · 1.0 ba · 1,040 sqft · Other · 7 Days on market

Built 1957 0.25 ac lot

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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).

• Cash flow +22.5/30.0
• ARV discount +7.5/15.0
• DSCR +7.2/10.0
• 1% rule +5.6/10.0
• Schools +5.0/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Updated 2BR/1BA Winneconne home! Well-kept w/ updated flrs, fresh paint & approx 10-yr-old windows. Bright, comfortable layout w/ nice living spaces that feel open & easy to enjoy. LL offers a spacious fam rm w/ concrete flrs, addtl toilet & sink, storage options & great potential for hobbies, rec use or future finishing. Large concrete patio is perfect for relaxing, grilling or hosting gatherings. Carport + extra gravel pad ideal for camper/RV parking. New 12x18 shed (2024) on its own gravel pad adds excellent storage/workspace flexibility. Close to gas, grocery, schools, Lake Winnebago, parks & more. Move-in-ready home in a convenient, desirable location w/ r

Key facts

• Spacious fam rm
• Large concrete patio
• Close to gas

Tags

• UPDATED WINDOWS
• SPACIOUS FAM RM
• LARGE CONCRETE PATIO
• EXTRA GRAVEL PAD
• NEW SHED
• CLOSE TO GAS

Property features AI

Finance

• Other: Lot size about 0.25 acre (< 1/2 acre)

Exterior

• Parking: Carport
• Utilities: Municipal water; Municipal sewer; Natural gas service
• Home design: Single-family, one-story home; Construction completed; Residential zoning
• Construction: Information source indicates year built from assessor/public record
• Exterior features: Deck; Cedar exterior siding

Interior

• Kitchen: Dishwasher; Range/oven (stove); Refrigerator; Microwave; Breakfast bar
• Bedrooms: Main-level master bedroom, approximately 10 x 11; Main-level second bedroom, approximately 10 x 11
• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Full basement with poured concrete, partially finished with toilet-only plumbing; Breakfast bar in kitchen
• Laundry & utility: Washer and dryer included; Refrigerator/freezer in basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $200k.

Deal economics

• At list price, monthly cash flow is $335 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).

Location & tenants

• Location reads 80/100 on livability (#63 in WI, #1,701 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Winneconne Community School District (town): math 62% / reading 51% proficiency, ranked #31 of 342 in WI (top 9%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 13% free/reduced lunch — higher-income household profile.
• Market conditions: 11 active listings in the ZIP; 652 units permitted in Winnebago County in 2024 (333 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Winnebago County population projected at +3% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $85k; list at $200k implies a 135% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $199,900

Questions for the listing agent

1. Built in 1957 — 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 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?
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: 1.06% ✓
• Cap rate: 8.31%
• Cash-on-cash: 7.19%
• DSCR: 1.32
• GRM: 7.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -5.3%
• Equity multiple: 0.80×
• Total profit: $-11,032
• Equity at exit: $29,806

10-year hold

• IRR: 4.4%
• Equity multiple: 1.32×
• Total profit: $17,920
• Equity at exit: $17,284

Cash invested: $55,972 (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 54986

• Active inventory: 11
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $2,123 medium
• Mortgage (P&I): −$1,048
• Tax from tax record: −$211 /mo · $2,529/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$446
• Net cashflow: $335

Break-even live

Break-even rent $1,699

Max offer price $199,900

Occupancy floor 79%

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-19
   days on market $199,900 Active 7 DOM
2. 2026-06-18
   days on market $199,900 Active 6 DOM
3. 2026-06-17
   days on market $199,900 Active 5 DOM
4. 2026-06-16
   days on market $199,900 Active 4 DOM
5. 2026-06-15
   days on market $199,900 Active 3 DOM
6. 2026-06-13
   remarks 679-char remark
7. 2026-06-13
   listed $199,900 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: $2,529 · $211/mo
• Projected year-2 tax: $3,113 · $259/mo
• Expected delta: +$585/yr (+$49/mo · 23.1%)

ⓘ 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 ≥97°F today · 12 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,482
• − Mortgage interest: −$11,198
• − Property taxes: −$2,529
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,039
• − Management: −$2,039
• − Depreciation: −$5,815
• Taxable income: $864
• Est. tax owed @ 24.0%: −$207
• After-tax cash flow: $3,816/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: Winneconne Community School District
• NCES district ID: 5516830
• Math proficiency: 62% ▼ -4.00%
• Reading proficiency: 51% ▼ -13.00%
• Median HH income: $65,056
• Composite: 49.67/100
• National rank: #1974
• State rank: #31 of 342 in WI

Livability — Winneconne

• Score: 80/100
• State rank: #63
• US rank: #1701

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Winneconne, WI
• Population (ZIP): 5,339

Population outlook (Winnebago County) Hauer SSP2

• Today (2025): 175,480 people
• By 2030: 177,928 · +1.4%
• By 2040: 180,873 · +3.1%
• By 2050: 181,302 · +3.3%
• By 2075: 184,071 · +4.9%
• By 2100: 175,932 · +0.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 2% Hispanic / Latino 2%
• Common ancestry: Romanian 8% Portuguese 6% Iranian 4%
• Foreign-born: 2% · China
• Languages at home: 98% English-only · Chinese 1% Spanish 1%

Political lean MEDSL · Winnebago

• 2024 margin: Toss-up / Even · D 46.9% · R 51.7% · Other 1.4%
• 2008→2024 swing: -16.4pp toward R · 2008: 11.7pp · 2024: -4.8pp
• All cycles: 2024: R+4.8 2020: R+4.0 2016: R+7.4 2012: D+3.8 2008: D+11.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -183.40%
• Current HPI: 194.0452
• 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

+135.2% since first listed

2 events — show timeline

• 2026-06-12 Listed $199,900 RANW
• 2011-10-21 Sold (Public Records) $85,000 Public Records

Property tax history

+2.6%/yr

Latest (2024): $2,529 · +2.2% YoY. Source: county tax records.