208 1st St · Oconto, WI 54153

$139,900

2 bd · 1.0 ba · 1,205 sqft · SingleFamily · 269 Days on market

Built 1900 4,791 sqft lot $116/sqft · 9% below area Est $153k · 9% 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 +22.3/30.0
• ARV discount +11.3/15.0
• DSCR +7.1/10.0
• 1% rule +5.2/10.0
• Livability +3.8/5.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Interior Updated! This 2-bedroom, 1-bath home offers a convenient location near downtown Oconto with an easy commute to Green Bay. The main floor features a comfortable living room, dining room, kitchen, and bedroom. Upstairs, you?ll find a second bedroom plus a spacious bonus living area, for a home office, lounge, or hobby space. Recent updates inside make this home a great opportunity to move right in and work on the exterior.

Key facts

• Bonus living area
• Recent updates
• Convenient location

Tags

• CONVENIENT LOCATION
• BONUS LIVING AREA
• RECENT UPDATES

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $174 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $140k).
• Recommended offer: $123k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 76/100 on livability (#136 in WI, #3,585 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, amenities F, commute F.
• Oconto Unified School District (town): math 42% / reading 38% proficiency, ranked #155 of 342 in WI (top 45%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 35 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 132 units permitted in Oconto County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $967 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Oconto County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 269 days — a 12% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $123,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 269 days. Have you received any prior offers? Is the seller open to a 12% 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. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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.
7. 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.
8. 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: 1.02% ✓
• Cap rate: 8.26%
• Cash-on-cash: 7.02%
• DSCR: 1.31
• GRM: 8.2

CMA / ARV

• ARV (median comp): $152,946
• List price: $139,900
• Delta: -8.53%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
403 Scherer Ave	0.13mi	2/1.0	1,100 (-9%)	4mo	$114,900	$104	76
615 Michigan Ave	0.61mi	2/1.0	1,119 (-7%)	3mo	$115,000	$103	58
609 5th St	0.39mi	2/1.0	1,031 (-14%)	1mo	$155,000	$150	57
219 Pine Ave	0.65mi	3/1.0 (+1)	1,238 (+3%)	10mo	$170,000	$137	52
622 2nd St	0.38mi	2/1.0	1,032 (-14%)	9mo	$179,000	$173	51
439 Monroe St	0.71mi	3/1.0 (+1)	1,265 (+5%)	4mo	$238,000	$188	51
251 Erie Ave	0.42mi	3/1.0 (+1)	1,064 (-12%)	8mo	$135,000	$127	49
503 6th St	0.33mi	3/2.0 (+1)	1,364 (+13%)	9mo	$220,500	$162	46
2131 Doran St	0.47mi	3/2.0 (+1)	1,352 (+12%)	4mo	$275,000	$203	46
237 Center St	0.73mi	2/1.0	1,032 (-14%)	3mo	$160,000	$155	40
409 Broadway Ave	0.73mi	3/1.0 (+1)	1,078 (-10%)	6mo	$142,500	$132	38
232 Center St	0.73mi	2/1.0	1,363 (+13%)	8mo	$85,000	$62	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: -8.0%
• Equity multiple: 0.70×
• Total profit: $-11,599
• Equity at exit: $20,860

10-year hold

• IRR: 1.5%
• Equity multiple: 1.11×
• Total profit: $4,193
• Equity at exit: $12,096

Cash invested: $39,172 (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 54153

• Home prices YoY: -20.5%
• Active inventory: 35
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,426 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$106 /mo · $1,268/yr
• Insurance: −$58
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$300
• Net cashflow: $174

Break-even live

Break-even rent $1,207

Max offer price $139,900

Occupancy floor 83%

Sensitivity live

Price	-10% $253	-5% $213	+0% $174	+5% $134	+10% $94
Rent	-10% $61	-5% $117	+0% $174	+5% $230	+10% $286
Rate	-1.0pp $244	-0.5pp $209	base $174	+0.5pp $137	+1.0pp $100

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
416 Washington St Oconto, WI	3.0	1.0	1500	$1,700	$1.13	44d	1	0.40mi
2451 Doran St Oconto, WI	2.0	1.0	950	$850	$0.89	44d	1	0.82mi

Listing history 35 events

1. 2026-06-21
   days on market $139,900 Active 269 DOM
2. 2026-06-18
   days on market $139,900 Active 267 DOM
3. 2026-06-17
   days on market $139,900 Active 266 DOM
4. 2026-06-16
   days on market $139,900 Active 265 DOM
5. 2026-06-15
   days on market $139,900 Active 264 DOM
6. 2026-06-15
   days on market $139,900 Active 263 DOM
7. 2026-06-13
   days on market $139,900 Active 262 DOM
8. 2026-06-12
   days on market $139,900 Active 261 DOM
9. 2026-06-09
   days on market $139,900 Active 258 DOM
10. 2026-06-08
    days on market $139,900 Active 257 DOM
11. 2026-06-08
    days on market $139,900 Active 256 DOM
12. 2026-06-05
    days on market $139,900 Active 254 DOM
13. 2026-06-04
    price $139,900 Active 252 DOM
14. 2026-06-03
    days on market $142,900 Active 252 DOM
15. 2026-06-02
    days on market $142,900 Active 251 DOM
16. 2026-06-01
    days on market $142,900 Active 250 DOM
17. 2026-05-31
    days on market $142,900 Active 249 DOM
18. 2025-10-23
    price $142,900 434-char remark

    Show marketing remark (434 chars)

    Interior Updated! This 2-bedroom, 1-bath home offers a convenient location near downtown Oconto with an easy commute to Green Bay. The main floor features a comfortable living room, dining room, kitchen, and bedroom. Upstairs, you?ll find a second bedroom plus a spacious bonus living area, for a home office, lounge, or hobby space. Recent updates inside make this home a great opportunity to move right in and work on the exterior.

19. 2025-10-18
    price $144,900 434-char remark

    Show marketing remark (434 chars)

    Interior Updated! This 2-bedroom, 1-bath home offers a convenient location near downtown Oconto with an easy commute to Green Bay. The main floor features a comfortable living room, dining room, kitchen, and bedroom. Upstairs, you?ll find a second bedroom plus a spacious bonus living area, for a home office, lounge, or hobby space. Recent updates inside make this home a great opportunity to move right in and work on the exterior.

20. 2025-09-24
    listed $149,900 Active 434-char remark

    Show marketing remark (434 chars)

    Interior Updated! This 2-bedroom, 1-bath home offers a convenient location near downtown Oconto with an easy commute to Green Bay. The main floor features a comfortable living room, dining room, kitchen, and bedroom. Upstairs, you?ll find a second bedroom plus a spacious bonus living area, for a home office, lounge, or hobby space. Recent updates inside make this home a great opportunity to move right in and work on the exterior.

21. 2024-06-17
    soldstatus $137,000
22. 2024-06-14
    soldstatus $137,000 Sold 311-char remark

    Show marketing remark (311 chars)

    Freshly updated and ready for a new homeowner, this 2 bedroom, 1 bath home is located close to downtown Oconto and is an easy commute to Green Bay. The main floor features a bedroom, living room, dining room and kitchen. The second floor contains a second bedroom and a generously sized additional living space.

23. 2024-04-23
    historical Contingent 311-char remark

    Show marketing remark (311 chars)

    Freshly updated and ready for a new homeowner, this 2 bedroom, 1 bath home is located close to downtown Oconto and is an easy commute to Green Bay. The main floor features a bedroom, living room, dining room and kitchen. The second floor contains a second bedroom and a generously sized additional living space.

24. 2024-01-26
    listed $139,900 Active 311-char remark

    Show marketing remark (311 chars)

    Freshly updated and ready for a new homeowner, this 2 bedroom, 1 bath home is located close to downtown Oconto and is an easy commute to Green Bay. The main floor features a bedroom, living room, dining room and kitchen. The second floor contains a second bedroom and a generously sized additional living space.

25. 2023-12-14
    soldstatus $40,000
26. 2023-11-15
    historical
27. 2023-10-20
    price $83,500
28. 2023-10-11
    price $91,500
29. 2023-09-30
    price $99,000
30. 2023-09-25
    price $104,900
31. 2023-09-16
    listed $114,900 Active
32. 2023-09-01
    historical
33. 2023-05-30
    listed $104,900 Active
34. 2017-09-06
    soldstatus $41,000
35. 2000-08-07
    soldstatus $38,900

ⓘ 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: $1,268 · $106/mo
• Projected year-2 tax: $1,928 · $161/mo
• Expected delta: +$660/yr (+$55/mo · 52.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (shaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥93°F today · 12 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: $17,116
• − Mortgage interest: −$7,837
• − Property taxes: −$1,268
• − Insurance: −$1,366
• − Repairs & maintenance: −$1,369
• − Management: −$1,369
• − Depreciation: −$4,070
• Taxable loss: −$163
• Est. tax savings @ 24.0%: +$39
• After-tax cash flow: $2,123/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: Oconto Unified School District
• NCES district ID: 5510920
• Math proficiency: 42% ▼ -8.00%
• Reading proficiency: 38% ▼ -2.00%
• Median HH income: $47,562
• Composite: 34.28/100
• National rank: #5249
• State rank: #155 of 342 in WI

Livability — Oconto

• Score: 76/100
• State rank: #136
• US rank: #3585

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Oconto, WI
• Population (ZIP): 7,401

Population outlook (Oconto County) Hauer SSP2

• Today (2025): 36,829 people
• By 2030: 35,853 · -2.7%
• By 2040: 32,932 · -10.6%
• By 2050: 29,355 · -20.3%
• By 2075: 22,731 · -38.3%
• By 2100: 16,736 · -54.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Hispanic / Latino 5% Two or more races 5% Native American 3%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Romanian 9% Lithuanian 4% English 3%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · German/W. Germanic 1%

Political lean MEDSL · Oconto

• 2024 margin: Solid R (+43.0) · D 28.0% · R 71.0%
• 2008→2024 swing: -49.2pp toward R · 2008: 6.2pp · 2024: -43.0pp
• All cycles: 2024: R+43.0 2020: R+41.0 2016: R+37.0 2012: R+9.5 2008: D+6.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -70.22%
• Current HPI: 271.8747
• 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

+267.4% since first listed

18 events — show timeline

• 2025-10-23 Price Changed $142,900 RANW
• 2025-10-18 Price Changed $144,900 RANW
• 2025-09-24 Listed $149,900 RANW
• 2024-06-17 Sold (Public Records) $137,000 Public Records
• 2024-06-14 Sold (MLS) $137,000 METROMLS
• 2024-04-23 Contingent — METROMLS
• 2024-01-26 Listed $139,900 METROMLS
• 2023-12-14 Sold (Public Records) $40,000 Public Records
• 2023-11-15 Listing Removed — METROMLS
• 2023-10-20 Price Changed $83,500 METROMLS
• 2023-10-11 Price Changed $91,500 METROMLS
• 2023-09-30 Price Changed $99,000 METROMLS
• 2023-09-25 Price Changed $104,900 METROMLS
• 2023-09-16 Listed $114,900 METROMLS
• 2023-09-01 Listing Removed — METROMLS
• 2023-05-30 Listed $104,900 METROMLS
• 2017-09-06 Sold (Public Records) $41,000 Public Records
• 2000-08-07 Sold (Public Records) $38,900 Public Records

Property tax history

+1.3%/yr

Latest (2025): $1,268 · +3.9% YoY. Source: county tax records.