1005 19th St · Two Rivers, WI 54241

$139,750

4 bd · 1.0 ba · 1,026 sqft · SingleFamily public records · 35 Days on market

Built 1900 4,356 sqft lot Est $159k · 12% 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).

• Cash flow +23.9/30.0
• ARV discount +13.0/15.0
• DSCR +7.7/10.0
• 1% rule +6.0/10.0
• 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

Updated home near River and just walking minutes away from Neshotah Beach, and Mariners Trail! Fresh texture and paint throughout home. Brand new carpet in all bedrooms and living room! New flooring in kitchen, office/den and bathroom! Yard is extra deep - great for backyard play and bonfires! Per seller, furnace and water heater replaced in 2009. Home would make a great vacation home and just off the path to Door County! Call today for your tour!

Key facts

• 4,356 sq ft lot
• Garage
• Built 1900

Property features AI

Finance

• Other: Lot size approximately 0.1 acre (less than 1/2 acre)

Exterior

• Parking: Detached 1-car garage with opener
• Utilities: Municipal water; Municipal sewer; Natural gas service
• Home design: 1.5-story single-family home; Residential zoning
• Construction: Information on year built: Assessor/Public Record
• Exterior features: Fenced yard; Vinyl exterior; Sidewalks

Interior

• Kitchen: Kitchen with island — 12 x 10
• Bedrooms: Master bedroom (upper) — 11 x 17; Second bedroom (upper) — 8 x 10
• Bathrooms: One full bathroom with a shower stall
• Heating & cooling: Forced air heating (natural gas)
• Interior features: Full basement; Kitchen island

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $271 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $136k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.6% 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: 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 40% 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 30% 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 $966 of loan paydown is wiped out by about $4k 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 35 days — a 3% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 10y 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.
• Current owner paid $33k; list at $140k implies a 320% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $135,557 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.10% ✓
• Cap rate: 8.62%
• Cash-on-cash: 8.31%
• DSCR: 1.37
• GRM: 7.6

CMA / ARV

• ARV (on-the-fly): $159,030
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2023 Lincoln St	0.17mi	3/1.0 (-1)	1,050 (+2%)	2mo	$189,900	$181	82
1611 Jackson St	0.16mi	3/1.0 (-1)	1,104 (+8%)	1mo	$110,000	$100	74
2019 Jefferson St	0.31mi	3/1.0 (-1)	940 (-8%)	1mo	$129,000	$137	66
1024 24th St	0.37mi	3/1.0 (-1)	1,095 (+7%)	7mo	$189,000	$173	61
1711 20th St	0.57mi	3/1.0 (-1)	1,017 (-1%)	8mo	$140,000	$138	60
1419 23rd St	0.44mi	3/1.5 (-1)	1,001 (-2%)	10mo	$147,000	$147	60
2318 Lincoln Ave	0.34mi	3/1.0 (-1)	1,092 (+6%)	12mo	$190,000	$174	58
1313 21st St	0.30mi	3/1.0 (-1)	1,168 (+14%)	0mo	$130,000	$111	58
1805 Emmet St	0.05mi	3/1.0 (-1)	900 (-12%)	18mo	$139,500	$155	57
1604 17th St	0.48mi	3/1.0 (-1)	1,054 (+3%)	22mo	$193,200	$183	50
2205 Adams St	0.50mi	3/1.5 (-1)	990 (-4%)	20mo	$160,000	$162	47
1812 21st St	0.67mi	3/1.0 (-1)	1,078 (+5%)	17mo	$130,000	$121	41

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: -3.7%
• Equity multiple: 0.86×
• Total profit: $-5,372
• Equity at exit: $20,837

10-year hold

• IRR: 6.0%
• Equity multiple: 1.45×
• Total profit: $17,583
• Equity at exit: $12,083

Cash invested: $39,130 (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: 7.6×

Monthly cashflow live

• Estimated rent: $1,531 medium
• Mortgage (P&I): −$733
• Tax from tax record: −$147 /mo · $1,769/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$322
• Net cashflow: $271

Break-even live

Break-even rent $1,188

Max offer price $139,750

Occupancy floor 77%

Sensitivity live

Price	-10% $350	-5% $311	+0% $271	+5% $232	+10% $192
Rent	-10% $150	-5% $211	+0% $271	+5% $332	+10% $392
Rate	-1.0pp $341	-0.5pp $307	base $271	+0.5pp $235	+1.0pp $198

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: $34,938
• Closing costs: $4,192
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-12
   status $139,750 Pending 35 DOM
2. 2026-06-09
   days on market $139,750 Active 35 DOM
3. 2026-06-08
   days on market $139,750 Active 34 DOM
4. 2026-06-07
   days on market $139,750 Active 33 DOM
5. 2026-06-03
   days on market $139,750 Active 29 DOM
6. 2026-06-02
   days on market $139,750 Active 28 DOM
7. 2026-06-01
   days on market $139,750 Active 27 DOM
8. 2026-05-31
   days on market $139,750 Active 26 DOM
9. 2026-05-30
   days on market $139,750 Active 25 DOM
10. 2026-05-04
    listed $144,500 Active
11. 2016-08-01
    historical 451-char remark

    Show marketing remark (451 chars)

    Updated home near River and just walking minutes away from Neshotah Beach, and Mariners Trail! Fresh texture and paint throughout home. Brand new carpet in all bedrooms and living room! New flooring in kitchen, office/den and bathroom! Yard is extra deep - great for backyard play and bonfires! Per seller, furnace and water heater replaced in 2009. Home would make a great vacation home and just off the path to Door County! Call today for your tour!

12. 2016-06-20
    price $39,500 451-char remark

    Show marketing remark (451 chars)

    Updated home near River and just walking minutes away from Neshotah Beach, and Mariners Trail! Fresh texture and paint throughout home. Brand new carpet in all bedrooms and living room! New flooring in kitchen, office/den and bathroom! Yard is extra deep - great for backyard play and bonfires! Per seller, furnace and water heater replaced in 2009. Home would make a great vacation home and just off the path to Door County! Call today for your tour!

13. 2016-04-12
    listed $44,900 Active 451-char remark

    Show marketing remark (451 chars)

    Updated home near River and just walking minutes away from Neshotah Beach, and Mariners Trail! Fresh texture and paint throughout home. Brand new carpet in all bedrooms and living room! New flooring in kitchen, office/den and bathroom! Yard is extra deep - great for backyard play and bonfires! Per seller, furnace and water heater replaced in 2009. Home would make a great vacation home and just off the path to Door County! Call today for your tour!

14. 2003-10-31
    soldstatus $33,300

ⓘ 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: $1,769 · $147/mo
• Projected year-2 tax: $2,177 · $181/mo
• Expected delta: +$408/yr (+$34/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 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: $18,374
• − Mortgage interest: −$7,828
• − Property taxes: −$1,769
• − Insurance: −$699
• − Repairs & maintenance: −$1,470
• − Management: −$1,470
• − Depreciation: −$4,065
• Taxable income: $1,073
• Est. tax owed @ 24.0%: −$257
• After-tax cash flow: $2,996/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

+333.9% since first listed

5 events — show timeline

• 2026-05-04 Listed $144,500 METROMLS
• 2016-08-01 Listing Removed — METROMLS
• 2016-06-20 Price Changed $39,500 METROMLS
• 2016-04-12 Listed $44,900 METROMLS
• 2003-10-31 Sold (Public Records) $33,300 Public Records

Property tax history

+2.9%/yr

Latest (2025): $1,769 · +5.4% YoY. Source: county tax records.