W2292 State Highway 22 · Pulcifer, WI 54124

$160,000

4 bd · 1.0 ba · 1,834 sqft · SingleFamily · 5 Days on market

Built 1890 Average condition 0.50 ac lot

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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 +22.1/30.0
• ARV discount +7.5/15.0
• DSCR +7.1/10.0
• 1% rule +5.8/10.0
• Schools +2.9/10.0
• Condition / age +2.8/5.0
• Rent growth +2.5/5.0
• Livability +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Why rent when you can own? This spacious 4-5 bedroom ranch home offers an incredible opportunity to build equity while enjoying plenty of living space. Priced to sell & ready for your personal touches, this property provides exceptional value for the size. The flexible floor plan features a generously sized family room that could serve as a fifth bedroom, or office, as well as a separate living room. Convenient main-floor laundry/mudroom. Situated on a half-acre lot in the Gillett School District, you'll enjoy a great location just a short walk from Oconto River Park. Outdoor enthusiasts will appreciate having a boat landing & kayak rentals directly across the street, making it

Key facts

• Boat landing
• Newer roof
• Main floor laundry

Tags

• MAIN FLOOR LAUNDRY
• HALF ACRE LOT
• BOAT LANDING
• NEWER ROOF
• LARGE STORAGE SHED

Property features AI

Exterior

• Parking: 1 parking space
• Utilities: Private well; Private septic system; Natural gas service
• Home design: Single-family, one-story home; Estimated finished above-grade area approximately 1,834
• Construction: Partial stone basement
• Exterior features: Wood exterior; Garden shed (outbuilding); Approximately 0.5 acre lot (zoned residential)

Interior

• Kitchen: Refrigerator; Oven / Stove
• Bedrooms: Master bedroom on main level, approximately 14 x 11; Second bedroom on main level, approximately 10 x 9; Third bedroom on main level, approximately 11 x 9; Fourth bedroom on main level, approximately 11 x 8
• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating (natural gas)
• Interior features: Water softener
• Laundry & utility: Washer and Dryer

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $160k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $257 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).

Location & tenants

• Location reads 45/100 on livability (#777 in WI) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: amenities F, commute F, employment F.
• Gillett School District (rural): math 33% / reading 35% proficiency, ranked #245 of 342 in WI (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Gillett Elementary (math 32% / reading 27%, grade F, #705 of 1,041 statewide, top 71%, 250 students, 63% FRL); Gillett Middle (math 37% / reading 47%, grade D-, #124 of 383 statewide, top 35%, 108 students, 57% FRL); Gillett High (math 15% / reading 24%, grade F, #376 of 483 statewide, top 79%, 159 students, 46% FRL).
• Market conditions: 16 active listings in the ZIP; 77 units permitted in Shawano 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.
• Shawano County population projected at -24% 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.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $160,000

Questions for the listing agent

1. Built in 1890 — 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. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.08% ✓
• Cap rate: 8.22%
• Cash-on-cash: 6.87%
• DSCR: 1.31
• GRM: 7.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -5.7%
• Equity multiple: 0.79×
• Total profit: $-9,558
• Equity at exit: $23,857

10-year hold

• IRR: 3.9%
• Equity multiple: 1.29×
• Total profit: $12,827
• Equity at exit: $13,834

Cash invested: $44,800 (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 54124

• Home prices YoY: -13.8%
• Active inventory: 16
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,724 medium
• Mortgage (P&I): −$839
• Tax est. 1.5%: −$200 /mo · $2,400/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$362
• Net cashflow: $257

Break-even live

Break-even rent $1,400

Max offer price $160,000

Occupancy floor 80%

Sensitivity live

Price	-10% $367	-5% $312	+0% $257	+5% $201	+10% $146
Rent	-10% $120	-5% $188	+0% $257	+5% $325	+10% $393
Rate	-1.0pp $337	-0.5pp $297	base $257	+0.5pp $215	+1.0pp $173

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-06-22
   days on market $160,000 Active 5 DOM
2. 2026-06-21
   days on market $160,000 Active 4 DOM
3. 2026-06-21
   days on market $160,000 Active 3 DOM
4. 2026-06-18
   remarks 691-char remark
5. 2026-06-18
   listed $160,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥96°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: $20,694
• − Mortgage interest: −$8,962
• − Property taxes: −$2,400
• − Insurance: −$800
• − Repairs & maintenance: −$1,655
• − Management: −$1,655
• − Depreciation: −$4,655
• Taxable income: $566
• Est. tax owed @ 24.0%: −$136
• After-tax cash flow: $2,943/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.

Condition & rehab AI · 13 photos

Average 55/100 Moderate rehab

This 4-bedroom ranch home requires moderate repairs and maintenance to improve its condition and resale value.

Repairs flagged

• Major exterior paint — blue siding appears faded
• Major interior paint — some wear visible on walls
• Minor kitchen cabinets — slight wear

Value-add opportunities

• Resale paint exterior — enhances curb appeal
• Resale paint interior — enhances interior appearance
• Resale replace kitchen cabinets — modernizes kitchen and adds value

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior paint · blue siding appears faded	Major	$15,000–50,000
interior paint · some wear visible on walls	Major	$15,000–50,000
kitchen cabinets · slight wear	Minor	$500–3,000
Total estimated repair cost · 3 items		$30,500–103,000

Value-add ROI direction

• Resale paint exterior — enhances curb appeal ↑
• Resale paint interior — enhances interior appearance ↑
• Resale replace kitchen cabinets — modernizes kitchen and adds value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Gillett School District
• NCES district ID: 5505250
• Math proficiency: 33% ▼ -19.00%
• Reading proficiency: 35% ▼ -16.00%
• Median HH income: $43,986
• Composite: 28.94/100
• National rank: #6631
• State rank: #245 of 342 in WI

Livability — Pulcifer

• Score: 45/100
• State rank: #777
• US rank: #26585

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pulcifer, WI
• Population (ZIP): 3,345

Population outlook (Shawano County) Hauer SSP2

• Today (2025): 39,186 people
• By 2030: 37,656 · -3.9%
• By 2040: 34,075 · -13.0%
• By 2050: 29,908 · -23.7%
• By 2075: 22,011 · -43.8%
• By 2100: 16,131 · -58.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Native American 6% Hispanic / Latino 4% Two or more races 3%
• Common ancestry: Romanian 7% Portuguese 4% Iranian 3%
• Foreign-born: 1%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Shawano

• 2024 margin: Solid R (+36.3) · D 31.3% · R 67.6% · Other 1.1%
• 2008→2024 swing: -39.9pp toward R · 2008: 3.6pp · 2024: -36.3pp
• All cycles: 2024: R+36.3 2020: R+35.6 2016: R+33.9 2012: R+10.0 2008: D+3.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -45.57%
• Current HPI: 285.0576
• 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

1 event — show timeline

• 2026-06-16 Listed $160,000 METROMLS