629 Stelting St · Sparta, WI 54656

$155,000

3 bd · 1.0 ba · 1,100 sqft · SingleFamily · 5 Days on market

Built 1930 5,227 sqft lot Est $194k · 20% under

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Why this score? — see what drove the B 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 +27.8/30.0
• ARV discount +15.0/15.0
• DSCR +9.8/10.0
• 1% rule +6.7/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

WOW! GREAT PRICE ADJUSTMENT! THESE SELLERS ARE SERIOUS! Cozy 3-Bedroom Home on Spacious Corner Lot in Sparta. 3 beds, 1 bath, 1.5-story on 0.36 acres (double lot). Country-in-town vibe w/ big yard for outbuildings/gardening. Features: Updated kitchen: stainless fridge, stove, dishwasher included 1 BR on main floor, 2 BR upstairs. Garden w/ raspberries, asparagus, apple tree. Fenced chicken coop. Detached garage/shed, Covered front porch Washer/dryer included. Near schools, Fort McCoy, shopping. Recent price drop!

Key facts

• Covered front porch
• Garden
• Updated kitchen

Tags

• UPDATED KITCHEN
• GARDEN
• FENCED CHICKEN COOP
• COVERED FRONT PORCH

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $155k.

Deal economics

• At list price, monthly cash flow is $472 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $155k).
• Cap rate 9.9% vs local median 5.3% in Sparta — 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 77/100 on livability (#124 in WI, #3,230 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D, amenities F, commute F.
• Sparta Area School District (town): math 22% / reading 30% proficiency, ranked #302 of 342 in WI (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Herrman Elementary (math 20% / reading 26%, grade F, #822 of 1,041 statewide, top 79%, 646 students, 58% FRL); Sparta High (math 12% / reading 27%, grade F, #385 of 483 statewide, top 82%, 837 students, 42% FRL).
• Market conditions: 70 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 93 units permitted in Monroe 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 $5k of value loss. Plan a longer hold.
• Monroe County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $43k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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 $50k; list at $155k implies a 210% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $155,000

Questions for the listing agent

1. Built in 1930 — 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. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.17% ✓
• Cap rate: 9.95%
• Cash-on-cash: 13.04%
• DSCR: 1.58
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $193,600
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
629 Stelting St	0.00mi	3/1.0	1,200 (+9%)	1mo	$155,000	$129	84
408 S Court St	0.35mi	3/1.0	1,100 (0%)	1mo	$200,000	$182	83
413 S Myrtle St	0.22mi	3/1.5	1,200 (+9%)	1mo	$156,000	$130	71
504 S L St	0.19mi	3/1.0	1,250 (+14%)	8mo	$220,000	$176	62
818 Long Ct	0.43mi	2/1.0 (-1)	1,188 (+8%)	2mo	$200,000	$168	60
400 Merrill St	0.69mi	3/1.5	1,100 (0%)	12mo	$234,900	$214	56
811 St Anne St	0.32mi	3/1.0	1,000 (-9%)	18mo	$195,900	$196	55
719 S Water St	0.40mi	3/1.0	1,000 (-9%)	13mo	$170,000	$170	55
612 W Oak St	0.40mi	2/1.5 (-1)	1,180 (+7%)	10mo	$148,000	$125	54
723 Randy Rd	0.73mi	2/2.0 (-1)	1,100 (0%)	14mo	$260,000	$236	46
616 W Oak St	0.40mi	4/2.0 (+1)	1,000 (-9%)	20mo	$215,000	$215	41
100 Avon Unit Road, Unit 122	0.73mi	3/2.0	1,200 (+9%)	14mo	$65,000	$54	36

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: 2.9%
• Equity multiple: 1.11×
• Total profit: $4,890
• Equity at exit: $23,111

10-year hold

• IRR: 12.5%
• Equity multiple: 1.99×
• Total profit: $42,791
• Equity at exit: $13,402

Cash invested: $43,400 (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 54656

• Active inventory: 70
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,818 medium
• Mortgage (P&I): −$813
• Tax from tax record: −$87 /mo · $1,043/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$382
• Net cashflow: $472

Break-even live

Break-even rent $1,221

Max offer price $155,000

Occupancy floor 69%

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
703 Stelting St Sparta, WI	3.0	2.0	1368	$2,350	$1.72	14d	1	0.04mi
904 Hill St Unit 214 Sparta, WI	2.0	1.0	750	$995	$1.33	14d	1	0.31mi
425 S Thayer St Unit 102 Sparta, WI	2.0	1.0	750	$995	$1.33	14d	1	0.34mi
604 N Black River St Sparta, WI	2.0	1.0	900	$949	$1.05	23d	1	0.86mi

Listing history 7 events

1. 2026-04-15
   historical 565-char remark

   Show marketing remark (565 chars)

   WOW! GREAT PRICE ADJUSTMENT! THESE SELLERS ARE SERIOUS! Cozy 3-Bedroom Home on Spacious Corner Lot in Sparta. 3 beds, 1 bath, 1.5-story on 0.36 acres (double lot). Country-in-town vibe w/ big yard for outbuildings/gardening. Features: Updated kitchen: stainless fridge, stove, dishwasher included 1 BR on main floor, 2 BR upstairs. Garden w/ raspberries, asparagus, apple tree. Fenced chicken coop. Detached garage/shed, Covered front porch Washer/dryer included. Near schools, Fort McCoy, shopping. Recent price drop!

2. 2026-04-15
   status Pending

   Show marketing remark (565 chars)

   WOW! GREAT PRICE ADJUSTMENT! THESE SELLERS ARE SERIOUS! Cozy 3-Bedroom Home on Spacious Corner Lot in Sparta. 3 beds, 1 bath, 1.5-story on 0.36 acres (double lot). Country-in-town vibe w/ big yard for outbuildings/gardening. Features: Updated kitchen: stainless fridge, stove, dishwasher included 1 BR on main floor, 2 BR upstairs. Garden w/ raspberries, asparagus, apple tree. Fenced chicken coop. Detached garage/shed, Covered front porch Washer/dryer included. Near schools, Fort McCoy, shopping. Recent price drop!

3. 2026-04-09
   listed $155,000 Active
4. 2026-04-01
   price $195,000 565-char remark

   Show marketing remark (565 chars)

   WOW! GREAT PRICE ADJUSTMENT! THESE SELLERS ARE SERIOUS! Cozy 3-Bedroom Home on Spacious Corner Lot in Sparta. 3 beds, 1 bath, 1.5-story on 0.36 acres (double lot). Country-in-town vibe w/ big yard for outbuildings/gardening. Features: Updated kitchen: stainless fridge, stove, dishwasher included 1 BR on main floor, 2 BR upstairs. Garden w/ raspberries, asparagus, apple tree. Fenced chicken coop. Detached garage/shed, Covered front porch Washer/dryer included. Near schools, Fort McCoy, shopping. Recent price drop!

5. 2026-03-20
   price $203,000 565-char remark

   Show marketing remark (565 chars)

   WOW! GREAT PRICE ADJUSTMENT! THESE SELLERS ARE SERIOUS! Cozy 3-Bedroom Home on Spacious Corner Lot in Sparta. 3 beds, 1 bath, 1.5-story on 0.36 acres (double lot). Country-in-town vibe w/ big yard for outbuildings/gardening. Features: Updated kitchen: stainless fridge, stove, dishwasher included 1 BR on main floor, 2 BR upstairs. Garden w/ raspberries, asparagus, apple tree. Fenced chicken coop. Detached garage/shed, Covered front porch Washer/dryer included. Near schools, Fort McCoy, shopping. Recent price drop!

6. 2026-02-26
   listed $210,000 Active 565-char remark

   Show marketing remark (565 chars)

   WOW! GREAT PRICE ADJUSTMENT! THESE SELLERS ARE SERIOUS! Cozy 3-Bedroom Home on Spacious Corner Lot in Sparta. 3 beds, 1 bath, 1.5-story on 0.36 acres (double lot). Country-in-town vibe w/ big yard for outbuildings/gardening. Features: Updated kitchen: stainless fridge, stove, dishwasher included 1 BR on main floor, 2 BR upstairs. Garden w/ raspberries, asparagus, apple tree. Fenced chicken coop. Detached garage/shed, Covered front porch Washer/dryer included. Near schools, Fort McCoy, shopping. Recent price drop!

7. 2010-04-20
   soldstatus $50,000

ⓘ 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: $1,043 · $87/mo
• Projected year-2 tax: $1,955 · $163/mo
• Expected delta: +$912/yr (+$76/mo · 87.4%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥100°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,814
• − Mortgage interest: −$8,682
• − Property taxes: −$1,043
• − Insurance: −$775
• − Repairs & maintenance: −$1,745
• − Management: −$1,745
• − Depreciation: −$4,509
• Taxable income: $3,314
• Est. tax owed @ 24.0%: −$795
• After-tax cash flow: $4,865/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: Sparta Area School District
• NCES district ID: 5514160
• Math proficiency: 22% ▼ -9.00%
• Reading proficiency: 30% ▼ -2.00%
• Median HH income: $51,340
• Composite: 22.99/100
• National rank: #7982
• State rank: #302 of 342 in WI

Livability — Sparta

• Score: 77/100
• State rank: #124
• US rank: #3230

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sparta, WI
• Population (ZIP): 18,068

Population outlook (Monroe County) Hauer SSP2

• Today (2025): 45,682 people
• By 2030: 45,187 · -1.1%
• By 2040: 43,768 · -4.2%
• By 2050: 41,596 · -8.9%
• By 2075: 35,555 · -22.2%
• By 2100: 28,278 · -38.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Hispanic / Latino 6% Two or more races 4% Black 2%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Portuguese 14% Romanian 4% Slovak 3%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 4% Other Indo-European 0%

Political lean MEDSL · Monroe

• 2024 margin: Strong R (+26.1) · D 36.3% · R 62.5% · Other 1.2%
• 2008→2024 swing: -34.1pp toward R · 2008: 8.0pp · 2024: -26.1pp
• All cycles: 2024: R+26.1 2020: R+23.6 2016: R+22.5 2012: R+0.7 2008: D+8.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -154.23%
• Current HPI: 214.4606
• 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

+210.0% since first listed

7 events — show timeline

• 2026-04-15 Listing Removed — SCWMLS
• 2026-04-15 Pending — SCWMLS
• 2026-04-09 Listed $155,000 SCWMLS
• 2026-04-01 Price Changed $195,000 SCWMLS
• 2026-03-20 Price Changed $203,000 SCWMLS
• 2026-02-26 Listed $210,000 SCWMLS
• 2010-04-20 Sold (Public Records) $50,000 Public Records

Property tax history

+2.8%/yr

Latest (2025): $1,043 · +8.0% YoY. Source: county tax records.