407 W Oak St · Sparta, WI 54656

$210,000

2 bd · 1.0 ba · 1,600 sqft · SingleFamily · 239 Days on market

7,840 sqft lot $131/sqft · at area comps Est $217k · at est. ↓ 11% since listing

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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 +24.4/30.0
• ARV discount +8.9/15.0
• DSCR +7.9/10.0
• 1% rule +6.2/10.0
• 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

Recently updated with new windows, kitchen cabinets, bathroom fixtures and plumbing, flooring, and paint. The detached garage is sized for two cars, but only one side has a door. Plenty of off-street parking.

Key facts

• Off street parking
• New kitchen cabinets
• New windows

Tags

• NEW WINDOWS
• NEW KITCHEN CABINETS
• NEW BATHROOM FIXTURES
• OFF STREET PARKING

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $210k.

Deal economics

• At list price, monthly cash flow is $428 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $210k).
• Recommended offer: $185k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.7% 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.
• Market conditions: 70 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $6k 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.

Negotiation context

• It's been on market 239 days — a 12% lower offer ($185k) is reasonable based on typical stale-listing flexibility.

Recommended offer $184,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 239 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.12% ✓
• Cap rate: 8.74%
• Cash-on-cash: 8.73%
• DSCR: 1.39
• GRM: 7.4

CMA / ARV

• ARV (median comp): $216,699
• List price: $210,000
• Delta: -3.09%
• 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
523 W Main St	0.14mi	3/1.0 (+1)	1,600 (0%)	8mo	$169,000	$106	82
306 S K St	0.11mi	3/2.0 (+1)	1,564 (-2%)	2mo	$235,052	$150	81
210 N K St	0.22mi	3/1.0 (+1)	1,459 (-9%)	5mo	$215,000	$147	66
817 Jefferson Ave	0.31mi	3/2.5 (+1)	1,518 (-5%)	8mo	$225,000	$148	59
515 North St	0.26mi	3/2.0 (+1)	1,800 (+12%)	5mo	$275,000	$153	54
122 N Chester St	0.47mi	3/1.5 (+1)	1,500 (-6%)	10mo	$255,000	$170	53
416 Sunny Ave	0.39mi	3/1.5 (+1)	1,760 (+10%)	9mo	$215,000	$122	51
503 E Franklin St	0.57mi	3/1.5 (+1)	1,502 (-6%)	9mo	$190,000	$126	49
515 W Montgomery St	0.47mi	3/1.5 (+1)	1,432 (-10%)	7mo	$240,000	$168	48
1104 Jefferson Ave	0.51mi	3/1.5 (+1)	1,464 (-8%)	10mo	$315,000	$215	47
200 Grove St	0.69mi	3/2.0 (+1)	1,699 (+6%)	4mo	$260,000	$153	45
922 Eyler St	0.66mi	3/1.0 (+1)	1,463 (-9%)	9mo	$230,000	$157	42

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: -3.1%
• Equity multiple: 0.88×
• Total profit: $-6,772
• Equity at exit: $31,312

10-year hold

• IRR: 6.6%
• Equity multiple: 1.50×
• Total profit: $29,261
• Equity at exit: $18,157

Cash invested: $58,800 (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 54656

• Active inventory: 70
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $2,350 medium
• Mortgage (P&I): −$1,101
• Tax from tax record: −$240 /mo · $2,881/yr
• Insurance: −$88
• HOA: −$0
• Vacancy / Maint / Mgmt: −$494
• Net cashflow: $428

Break-even live

Break-even rent $1,809

Max offer price $210,000

Occupancy floor 77%

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: $52,500
• Closing costs: $6,300
• Reserves months: —
• Total cash needed: —

Rent comps 1 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	0.40mi

Listing history 18 events

1. 2026-06-18
   days on market $210,000 Active 239 DOM
2. 2026-06-17
   days on market $210,000 Active 238 DOM
3. 2026-06-16
   days on market $210,000 Active 237 DOM
4. 2026-06-15
   days on market $210,000 Active 236 DOM
5. 2026-06-14
   days on market $210,000 Active 234 DOM
6. 2026-06-13
   days on market $210,000 Active 233 DOM
7. 2026-06-10
   days on market $210,000 Active 231 DOM
8. 2026-06-09
   days on market $210,000 Active 230 DOM
9. 2026-06-08
   days on market $210,000 Active 229 DOM
10. 2026-06-07
    days on market $210,000 Active 228 DOM
11. 2026-06-03
    days on market $210,000 Active 224 DOM
12. 2026-06-02
    days on market $210,000 Active 223 DOM
13. 2026-06-01
    days on market $210,000 Active 222 DOM
14. 2026-05-31
    days on market $210,000 Active 221 DOM
15. 2026-05-31
    days on market $210,000 Active 220 DOM
16. 2026-04-15
    price $210,000 208-char remark

    Show marketing remark (208 chars)

    Recently updated with new windows, kitchen cabinets, bathroom fixtures and plumbing, flooring, and paint. The detached garage is sized for two cars, but only one side has a door. Plenty of off-street parking.

17. 2025-11-25
    price $229,900 208-char remark

    Show marketing remark (208 chars)

    Recently updated with new windows, kitchen cabinets, bathroom fixtures and plumbing, flooring, and paint. The detached garage is sized for two cars, but only one side has a door. Plenty of off-street parking.

18. 2025-10-22
    listed $234,900 Active 208-char remark

    Show marketing remark (208 chars)

    Recently updated with new windows, kitchen cabinets, bathroom fixtures and plumbing, flooring, and paint. The detached garage is sized for two cars, but only one side has a door. Plenty of off-street parking.

ⓘ 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: $2,881 · $240/mo
• Projected year-2 tax: $3,383 · $282/mo
• Expected delta: +$502/yr (+$42/mo · 17.4%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥99°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: $28,200
• − Mortgage interest: −$11,763
• − Property taxes: −$2,881
• − Insurance: −$1,050
• − Repairs & maintenance: −$2,256
• − Management: −$2,256
• − Depreciation: −$6,109
• Taxable income: $1,884
• Est. tax owed @ 24.0%: −$452
• After-tax cash flow: $4,679/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

-10.6% since first listed

3 events — show timeline

• 2026-04-15 Price Changed $210,000 SCWMLS
• 2025-11-25 Price Changed $229,900 SCWMLS
• 2025-10-22 Listed $234,900 SCWMLS

Property tax history

+3.7%/yr

Latest (2025): $2,881 · -1.3% YoY. Source: county tax records.