1509 Pierce Ave · Marinette, WI 54143

$150,000

3 bd · 1.0 ba · 1,339 sqft · SingleFamily · 5 Days on market

Built 1950 6,969 sqft lot Est $154k · at est.

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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).

• Cash flow +15.3/30.0
• ARV discount +8.7/15.0
• DSCR +4.7/10.0
• 1% rule +4.2/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Close to Schools!!! Hardwood floors throughout most of the Main Floor, fenced in backyard. Seller was currently using 3rd bedroom for laundry.

Key facts

• Fenced back yard
• Newer flooring
• Full basement

Tags

• FULL BASEMENT
• FENCED BACK YARD
• WOOD FIREPLACE
• NEWER WINDOWS
• NEWER FLOORING

Property features AI

Finance

• Other: Stove, refrigerator and dishwasher included; Seller's personal belongings excluded

Exterior

• Parking: Attached 1-car garage
• Utilities: Municipal water; Municipal sewer; Natural gas
• Home design: Single-family, 1-story; Construction completed
• Construction: Built (year per assessor/public record)
• Exterior features: Vinyl exterior; Lot is approximately 0.16 acre; Zoned residential

Interior

• Kitchen: Dishwasher; Range/Oven; Refrigerator
• Bedrooms: Master bedroom (Main) — 12 x 14; Bedroom 2 (Main) — 12 x 13; Bedroom 3 (Main) — 10 x 11
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Full block basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $56 ($674/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 $138k (8.1% below list).
• Recommended offer: $138k (8.1% below list) — sets the bar for 1% rule.
• Cap rate 6.7% vs local median 4.4% 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.
• Zoned schools: Marinette Middle (math 20% / reading 21%, grade F, #344 of 383 statewide, top 90%, 567 students, 50% FRL); Marinette High (math 12% / reading 17%, grade F, #427 of 483 statewide, top 90%, 635 students, 49% FRL).
• Market conditions: 71 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $4k 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

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 6y 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 $115k; 30% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $137,915 (8.1% below list)

Questions for the listing agent

1. Built in 1950 — 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. 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?
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: 0.92% ✗
• Cap rate: 6.74%
• Cash-on-cash: 1.60%
• DSCR: 1.07
• GRM: 9.1

CMA / ARV

• ARV (on-the-fly): $153,985
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1533 Pierce Ave	0.05mi	3/1.0	1,355 (+1%)	1mo	$195,000	$144	95
1330 Armstrong St	0.12mi	3/1.5	1,346 (+0%)	6mo	$155,000	$115	86
1925 Thomas St	0.25mi	2/1.0 (-1)	1,322 (-1%)	5mo	$137,000	$104	77
1629 Pernin St	0.37mi	3/1.0	1,264 (-6%)	2mo	$175,000	$138	71
1818 Thomas St	0.24mi	2/1.0 (-1)	1,229 (-8%)	1mo	$128,500	$105	69
1340 Carney Blvd	0.36mi	2/1.5 (-1)	1,264 (-6%)	4mo	$144,000	$114	64
1612 Mary St	0.11mi	3/2.0	1,522 (+14%)	6mo	$199,000	$131	63
1166 Daggett St	0.43mi	2/1.0 (-1)	1,444 (+8%)	1mo	$140,000	$97	60
903 Wells St	0.39mi	4/1.0 (+1)	1,443 (+8%)	6mo	$167,000	$116	59
926 Elizabeth Ave	0.63mi	3/2.0	1,457 (+9%)	6mo	$210,000	$144	47
1439 10th St	0.59mi	4/2.0 (+1)	1,518 (+13%)	2mo	$165,000	$109	40
911 Carney Blvd	0.68mi	4/2.0 (+1)	1,531 (+14%)	3mo	$168,000	$110	33

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: -13.7%
• Equity multiple: 0.51×
• Total profit: $-20,713
• Equity at exit: $22,365

10-year hold

• IRR: -4.9%
• Equity multiple: 0.68×
• Total profit: $-13,356
• Equity at exit: $12,969

Cash invested: $42,000 (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: 9.1×

Monthly cashflow live

• Estimated rent: $1,379 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$184 /mo · $2,211/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$290
• Net cashflow: $56

Break-even live

Break-even rent $1,308

Max offer price $150,000

Occupancy floor 91%

Sensitivity live

Price	-10% $141	-5% $99	+0% $56	+5% $14	+10% $-29
Rent	-10% $-53	-5% $2	+0% $56	+5% $111	+10% $165
Rate	-1.0pp $132	-0.5pp $94	base $56	+0.5pp $17	+1.0pp $-22

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1701 Dunlap Ave Marinette, WI	2.0	1.0	1175	$945	$0.80	45d	1	0.64mi
817 Terrace Ave Marinette, WI	4.0	2.0	1864	$1,600	$0.86	45d	1	0.83mi
712 Terrace Ave Marinette, WI	3.0	2.0	1700	$1,695	$1.00	45d	1	0.93mi
3220 Mary St Unit E7 Marinette, WI	2.0	1.0	900	$1,199	$1.33	45d	1	1.16mi

Listing history 11 events

1. 2026-06-02
   status $150,000 Pending 5 DOM
2. 2026-06-01
   days on market $150,000 Active 5 DOM
3. 2026-05-31
   days on market $150,000 Active 4 DOM
4. 2026-05-31
   days on market $150,000 Active 3 DOM
5. 2026-05-23
   listed $150,000 Active
6. 2021-03-24
   soldstatus $115,000
7. 2021-03-23
   soldstatus $115,000 Sold 143-char remark

   Show marketing remark (143 chars)

   Close to Schools!!! Hardwood floors throughout most of the Main Floor, fenced in backyard. Seller was currently using 3rd bedroom for laundry.

8. 2021-02-01
   historical Contingent 143-char remark

   Show marketing remark (143 chars)

   Close to Schools!!! Hardwood floors throughout most of the Main Floor, fenced in backyard. Seller was currently using 3rd bedroom for laundry.

9. 2020-12-17
   price $118,900 143-char remark

   Show marketing remark (143 chars)

   Close to Schools!!! Hardwood floors throughout most of the Main Floor, fenced in backyard. Seller was currently using 3rd bedroom for laundry.

10. 2020-11-06
    listed $124,900 Active 143-char remark

    Show marketing remark (143 chars)

    Close to Schools!!! Hardwood floors throughout most of the Main Floor, fenced in backyard. Seller was currently using 3rd bedroom for laundry.

11. 2000-04-14
    soldstatus $70,000

ⓘ 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: $2,211 · $184/mo
• Projected year-2 tax: $2,493 · $208/mo
• Expected delta: +$282/yr (+$23/mo · 12.7%)

ⓘ 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 ≥93°F today · 12 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,550
• − Mortgage interest: −$8,402
• − Property taxes: −$2,211
• − Insurance: −$750
• − Repairs & maintenance: −$1,324
• − Management: −$1,324
• − Depreciation: −$4,364
• Taxable loss: −$1,826
• Est. tax savings @ 24.0%: +$438
• After-tax cash flow: $1,112/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

• Census place: Marinette, WI
• 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

+114.3% since first listed

7 events — show timeline

• 2026-05-23 Listed $150,000 RANW
• 2021-03-24 Sold (Public Records) $115,000 Public Records
• 2021-03-23 Sold (MLS) $115,000 METROMLS
• 2021-02-01 Contingent — METROMLS
• 2020-12-17 Price Changed $118,900 METROMLS
• 2020-11-06 Listed $124,900 METROMLS
• 2000-04-14 Sold (Public Records) $70,000 Public Records

Property tax history

+2.7%/yr

Latest (2025): $2,211 · +8.6% YoY. Source: county tax records.