N1483 Shore Dr · Marinette, WI 54143

$184,900

3 bd · 1.5 ba · 1,100 sqft · Other · 384 Days on market

Built 1975 0.99 ac lot $168/sqft · 24% below area Est $243k · 24% under ↓ 8% since listing

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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).

• ARV discount +15.0/15.0
• Cash flow +10.5/30.0
• Livability +3.8/5.0
• DSCR +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

3 bedroom, 1 1/2 bath home with great Bay views south of Marinette on Shore Drive. Close to boat landing and golf course. Full basement, attached garage, large yard with fruit trees and deck. Put your own spin on this great country ranch! Seller unsure exact age of house, thinks mid 70's. Point is located in the basement. In the MLS documents, there is a quote to relocate the point outside. Buyers are required to provide a pre-approval prior to showing appointment being confirmed. Pre-approval must be in writing stating that the lender is aware of the location of the point and that the buyer is capable of purchasing the property as is. Seller will consider replacing well with an acceptable offer.

Key facts

• Boat landing
• Large yard
• Full basement

Tags

• BAY VIEWS
• BOAT LANDING
• GOLF COURSE
• FULL BASEMENT
• LARGE YARD
• FRUIT TREES

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath other listed at $185k.

Deal economics

• At list price, monthly cash flow is $-95 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $168k (9.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $136k (26.4% below list).
• Recommended offer: $136k (26.4% below list) — sets the bar for 1% rule.
• Cap rate 5.7% vs local median 4.1% in Marinette — 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 76/100 on livability (#135 in WI, #3,516 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: employment D+, amenities F, commute F.
• Marinette School District (town): math 21% / reading 21% proficiency, ranked #329 of 342 in WI (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 71 active listings in the ZIP; 145 units permitted in Marinette County in 2024 (0 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.
• Marinette County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 384 days — a 12% lower offer ($163k) is reasonable based on typical stale-listing flexibility.

Recommended offer $136,038 (26.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 384 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
3. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 0.74% ✗
• Cap rate: 5.67%
• Cash-on-cash: -2.21%
• DSCR: 0.90
• GRM: 11.3

CMA / ARV

• ARV (median comp): $243,245
• List price: $184,900
• Delta: -23.99%
• Verdict: UNDERPRICED
• Comps: 9 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -20.0%
• Equity multiple: 0.30×
• Total profit: $-36,086
• Equity at exit: $27,569

10-year hold

• IRR: -13.0%
• Equity multiple: 0.24×
• Total profit: $-39,436
• Equity at exit: $15,987

Cash invested: $51,772 (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 54143

• Home prices YoY: -34.7%
• Active inventory: 71
• Price-to-rent: 11.3×

Monthly cashflow live

• Estimated rent: $1,360 medium
• Mortgage (P&I): −$970
• Tax from tax record: −$123 /mo · $1,482/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$286
• Net cashflow: $-95

Break-even live

Break-even rent $1,481

Max offer price $168,040

Occupancy floor —

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: $46,225
• Closing costs: $5,547
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-12
   statusdays on market $184,900 Pending 384 DOM
2. 2026-06-09
   days on market $184,900 Active 382 DOM
3. 2026-06-08
   days on market $184,900 Active 381 DOM
4. 2026-06-07
   days on market $184,900 Active 380 DOM
5. 2026-06-05
   days on market $184,900 Active 378 DOM
6. 2026-06-04
   days on market $184,900 Active 376 DOM
7. 2026-06-02
   days on market $184,900 Active 375 DOM
8. 2026-06-01
   days on market $184,900 Active 374 DOM
9. 2026-05-31
   days on market $184,900 Active 373 DOM
10. 2026-05-31
    days on market $184,900 Active 372 DOM
11. 2026-04-24
    price $184,900 705-char remark

    Show marketing remark (705 chars)

    3 bedroom, 1 1/2 bath home with great Bay views south of Marinette on Shore Drive. Close to boat landing and golf course. Full basement, attached garage, large yard with fruit trees and deck. Put your own spin on this great country ranch! Seller unsure exact age of house, thinks mid 70's. Point is located in the basement. In the MLS documents, there is a quote to relocate the point outside. Buyers are required to provide a pre-approval prior to showing appointment being confirmed. Pre-approval must be in writing stating that the lender is aware of the location of the point and that the buyer is capable of purchasing the property as is. Seller will consider replacing well with an acceptable offer.

12. 2025-09-26
    price $194,900 705-char remark

    Show marketing remark (705 chars)

    3 bedroom, 1 1/2 bath home with great Bay views south of Marinette on Shore Drive. Close to boat landing and golf course. Full basement, attached garage, large yard with fruit trees and deck. Put your own spin on this great country ranch! Seller unsure exact age of house, thinks mid 70's. Point is located in the basement. In the MLS documents, there is a quote to relocate the point outside. Buyers are required to provide a pre-approval prior to showing appointment being confirmed. Pre-approval must be in writing stating that the lender is aware of the location of the point and that the buyer is capable of purchasing the property as is. Seller will consider replacing well with an acceptable offer.

13. 2025-05-19
    listed $199,900 Active 705-char remark

    Show marketing remark (705 chars)

    3 bedroom, 1 1/2 bath home with great Bay views south of Marinette on Shore Drive. Close to boat landing and golf course. Full basement, attached garage, large yard with fruit trees and deck. Put your own spin on this great country ranch! Seller unsure exact age of house, thinks mid 70's. Point is located in the basement. In the MLS documents, there is a quote to relocate the point outside. Buyers are required to provide a pre-approval prior to showing appointment being confirmed. Pre-approval must be in writing stating that the lender is aware of the location of the point and that the buyer is capable of purchasing the property as is. Seller will consider replacing well with an acceptable offer.

ⓘ 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: $1,482 · $123/mo
• Projected year-2 tax: $2,451 · $204/mo
• Expected delta: +$970/yr (+$81/mo · 65.4%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥92°F today · 13 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,325
• − Mortgage interest: −$10,357
• − Property taxes: −$1,482
• − Insurance: −$924
• − Repairs & maintenance: −$1,306
• − Management: −$1,306
• − Depreciation: −$5,379
• Taxable loss: −$4,430
• Est. tax savings @ 24.0%: +$1,063
• After-tax cash flow: $-82/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: Marinette School District
• NCES district ID: 5508700
• Math proficiency: 21% ▼ -10.00%
• Reading proficiency: 21% ▼ -7.00%
• Median HH income: $42,240
• Composite: 18.01/100
• National rank: #8984
• State rank: #329 of 342 in WI

Livability — Marinette

• Score: 76/100
• State rank: #135
• US rank: #3516

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Marinette County · 15,119 people
• City population: 15,119
• Metro: Marinette, WI-MI
• Population (ZIP): 15,119
• Household income: $64,491
• Rent vs Own: 22.0% rent · 78.0% own
• Severe rent burden: 200.0

Population outlook (Marinette County) Hauer SSP2

• Today (2025): 38,716 people
• By 2030: 37,015 · -4.4%
• By 2040: 32,824 · -15.2%
• By 2050: 28,502 · -26.4%
• By 2075: 20,562 · -46.9%
• By 2100: 15,072 · -61.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Romanian 10% Portuguese 5% Lithuanian 4%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Marinette

• 2024 margin: Solid R (+38.0) · D 30.4% · R 68.4% · Other 1.1%
• 2008→2024 swing: -44.9pp toward R · 2008: 6.9pp · 2024: -38.0pp
• All cycles: 2024: R+38.0 2020: R+34.5 2016: R+33.8 2012: R+3.6 2008: D+6.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -100.28%
• Current HPI: 188.9029
• Rent YoY: —
• Metro: Marinette, WI-MI
• 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

-7.5% since first listed

3 events — show timeline

• 2026-04-24 Price Changed $184,900 RANW
• 2025-09-26 Price Changed $194,900 RANW
• 2025-05-19 Listed $199,900 RANW

Property tax history

+0.7%/yr

Latest (2025): $1,482 · +14.4% YoY. Source: county tax records.