N16953 Spangenberg Rd · Amberg, WI 54156

$120,000

2 bd · 1.0 ba · 808 sqft · SingleFamily · 3 Days on market

Built 1946 7.32 ac lot $149/sqft · at area comps Est $117k · 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).

• Appreciation +10.0/10.0
• Cash flow +9.7/30.0
• ARV discount +6.3/15.0
• Schools +3.8/10.0
• Livability +3.0/5.0
• DSCR +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.2/10.0

Listing remarks MLS

Don’t miss out on this one! 7.32-acre wooded retreat featuring Miscauno Creek running through the property with direct ATV/snowmobile trail access. Located near thousands of acres of public hunting land and the beautiful Menominee River, this is an outdoor enthusiast’s dream. The 2-bedroom, 1-bath home needs a little TLC, but with some effort and vision, it’s an affordable opportunity to create your own up-north getaway or full-time residence.

Key facts

• Public hunting land
• Menominee river
• Wooded retreat

Tags

• WOODED RETREAT
• ATV SNOWMOBILE TRAIL ACCESS
• PUBLIC HUNTING LAND
• MENOMINEE RIVER

Property features AI

Finance

• Other: Probate listing

Exterior

• Parking: 3 or more parking spaces
• Utilities: 100 amp electric service; Electric water heater; LP/propane gas for heat; Propane tank leased; Private drilled well; Septic system; Phone connected; Cable not available; Natural gas not available; Sewer not available; Water not available
• Home design: Residential property (1 to 4 units); One-story; Built in 1946; Entry faces road frontage
• Construction: Wood construction; Slab foundation; Shallow below-grade area (no finished or unfinished below-grade square footage listed)
• Exterior features: Wood exterior; Patio; Shed/outbuilding; Creek/stream (Miscauno Creek) on the property; Rural view; Wooded, vegetated shoreline/lot; Rural, wooded setting

Interior

• Kitchen: Eat-in kitchen (approx. 16 x 11) with carpeted floor; Range/Oven; Refrigerator
• Bedrooms: Two main-level bedrooms (each about 14 x 10) with carpet
• Flooring: Carpet in bedrooms, living room, and kitchen; Vinyl in bathroom
• Bathrooms: One full main-level bathroom with vinyl floor
• Heating & cooling: Forced air heating; No central cooling listed
• Interior features: Total of 4 rooms; Living room; Eat-in kitchen; No additional interior features listed
• Laundry & utility: Main-floor laundry; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $-80 ($-958/yr) — negative.
• To cash-flow at today's rent, offer at most $106k (11.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $86k (28.1% below list).
• Recommended offer: $86k (28.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 59/100 on livability (#727 in WI) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime D+, amenities F, commute F.
• Beecher-Dunbar-Pembine School District (rural): math 40% / reading 45% proficiency, ranked #237 of 426 in WI (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Pembine Elementary (math 24% / reading 34%, grade F, #705 of 1,041 statewide, top 71%, 142 students, 66% FRL); Pembine High (math 5% / reading 34%, grade F, #376 of 483 statewide, top 79%, 93 students, 67% FRL) — zoned schools average 66% FRL vs 50% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 25% at this address vs 42% district-wide (-18 pts) — the specific schools serving this property underperform the Beecher-Dunbar-Pembine School District average; the district grade overstates school quality for this exact location.
• Market conditions: 27 active listings in the ZIP; 145 units permitted in Marinette County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $13k of equity ($830 loan paydown + $12k appreciation (10.0% local appreciation)).
• Marinette County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 15y 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 $75k; list at $120k implies a 60% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1946 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $86,296 (28.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1946 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.72% ✗
• Cap rate: 5.49%
• Cash-on-cash: -2.85%
• DSCR: 0.87
• GRM: 11.6

CMA / ARV

• ARV (median comp): $116,830
• List price: $120,000
• Delta: 2.71%
• Verdict: FAIR
• Comps: 3 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
W5911 Cty Road Z	0.75mi	2/1.0	864 (+7%)	16mo	$182,500	$211	40
W5655 County Road Z	0.67mi	1/1.0 (-1)	705 (-13%)	13mo	$79,100	$112	32
W5890 Spring Green Dr	0.53mi	1/— (-1)	696 (-14%)	22mo	$110,000	$158	29

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 22.2%
• Equity multiple: 2.79×
• Total profit: $60,240
• Equity at exit: $108,106

10-year hold

• IRR: 20.0%
• Equity multiple: 6.40×
• Total profit: $181,341
• Equity at exit: $233,134

Cash invested: $33,600 (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 54156

• Home prices YoY: 3.9%
• Active inventory: 27
• Price-to-rent: 11.6×

Monthly cashflow live

• Estimated rent: $863 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$82 /mo · $988/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$181
• Net cashflow: $-80

Break-even live

Break-even rent $964

Max offer price $105,893

Occupancy floor —

Sensitivity live

Price	-10% $-12	-5% $-46	+0% $-80	+5% $-114	+10% $-148
Rent	-10% $-148	-5% $-114	+0% $-80	+5% $-46	+10% $-12
Rate	-1.0pp $-19	-0.5pp $-49	base $-80	+0.5pp $-111	+1.0pp $-143

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-05-04
   status Pending 465-char remark

   Show marketing remark (465 chars)

   Don’t miss out on this one! 7.32-acre wooded retreat featuring Miscauno Creek running through the property with direct ATV/snowmobile trail access. Located near thousands of acres of public hunting land and the beautiful Menominee River, this is an outdoor enthusiast’s dream. The 2-bedroom, 1-bath home needs a little TLC, but with some effort and vision, it’s an affordable opportunity to create your own up-north getaway or full-time residence.

2. 2026-05-04
   status Pending 485-char remark

   Show marketing remark (465 chars)

   Don’t miss out on this one! 7.32-acre wooded retreat featuring Miscauno Creek running through the property with direct ATV/snowmobile trail access. Located near thousands of acres of public hunting land and the beautiful Menominee River, this is an outdoor enthusiast’s dream. The 2-bedroom, 1-bath home needs a little TLC, but with some effort and vision, it’s an affordable opportunity to create your own up-north getaway or full-time residence.

3. 2026-05-04
   status Pending 465-char remark

   Show marketing remark (465 chars)

   Don’t miss out on this one! 7.32-acre wooded retreat featuring Miscauno Creek running through the property with direct ATV/snowmobile trail access. Located near thousands of acres of public hunting land and the beautiful Menominee River, this is an outdoor enthusiast’s dream. The 2-bedroom, 1-bath home needs a little TLC, but with some effort and vision, it’s an affordable opportunity to create your own up-north getaway or full-time residence.

4. 2026-04-30
   listed $120,000 Active 465-char remark

   Show marketing remark (465 chars)

   Don’t miss out on this one! 7.32-acre wooded retreat featuring Miscauno Creek running through the property with direct ATV/snowmobile trail access. Located near thousands of acres of public hunting land and the beautiful Menominee River, this is an outdoor enthusiast’s dream. The 2-bedroom, 1-bath home needs a little TLC, but with some effort and vision, it’s an affordable opportunity to create your own up-north getaway or full-time residence.

5. 2026-04-30
   listed $120,000 Active 485-char remark

   Show marketing remark (465 chars)

   Don’t miss out on this one! 7.32-acre wooded retreat featuring Miscauno Creek running through the property with direct ATV/snowmobile trail access. Located near thousands of acres of public hunting land and the beautiful Menominee River, this is an outdoor enthusiast’s dream. The 2-bedroom, 1-bath home needs a little TLC, but with some effort and vision, it’s an affordable opportunity to create your own up-north getaway or full-time residence.

6. 2026-04-30
   listed $120,000 Active 465-char remark

   Show marketing remark (465 chars)

   Don’t miss out on this one! 7.32-acre wooded retreat featuring Miscauno Creek running through the property with direct ATV/snowmobile trail access. Located near thousands of acres of public hunting land and the beautiful Menominee River, this is an outdoor enthusiast’s dream. The 2-bedroom, 1-bath home needs a little TLC, but with some effort and vision, it’s an affordable opportunity to create your own up-north getaway or full-time residence.

7. 2015-01-20
   soldstatus $75,000
8. 2015-01-15
   soldstatus $75,000
9. 2015-01-15
   soldstatus $75,000
10. 2015-01-15
    soldstatus $75,000
11. 2014-10-24
    listed $79,000
12. 2014-10-24
    listed $79,000
13. 2012-07-03
    soldstatus $69,000
14. 2012-06-29
    soldstatus $69,000
15. 2012-06-29
    soldstatus $69,000
16. 2012-06-29
    soldstatus $69,000
17. 2011-06-24
    listed $74,900
18. 2011-06-24
    listed $74,900
19. 2005-08-23
    soldstatus $82,500
20. 2005-08-19
    soldstatus $82,500
21. 2000-03-20
    soldstatus $40,000

ⓘ 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: $988 · $82/mo
• Projected year-2 tax: $1,604 · $134/mo
• Expected delta: +$616/yr (+$51/mo · 62.4%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥94°F today · 13 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,356
• − Mortgage interest: −$6,722
• − Property taxes: −$988
• − Insurance: −$600
• − Repairs & maintenance: −$828
• − Management: −$828
• − Depreciation: −$3,491
• Taxable loss: −$3,102
• Est. tax savings @ 24.0%: +$744
• After-tax cash flow: $-214/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: Beecher-Dunbar-Pembine School District
• NCES district ID: 5511550
• Math proficiency: 40% ▲ 5.00%
• Reading proficiency: 45% ▬ 0.00%
• Median HH income: $37,275
• Composite: 37.67/100
• National rank: #8792
• State rank: #237 of 426 in WI

Livability — Amberg

• Score: 59/100
• State rank: #727
• US rank: #20239

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 1,514

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 (92%)
• Race & ethnicity: White 92% Two or more races 5% Asian 2%
• Common ancestry: Romanian 9% Lithuanian 3% Portuguese 3%
• Foreign-born: 2% · China, South Korea
• Languages at home: 98% English-only · Spanish 1% Chinese 1%

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: ▲ 11.31%
• Current HPI: 301.2889
• 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

+200.0% since first listed

21 events — show timeline

• 2026-05-04 Pending — UPAR
• 2026-05-04 Pending — RANW
• 2026-05-04 Pending — MiRealSource-MiMLS
• 2026-04-30 Listed $120,000 MiRealSource-MiMLS
• 2026-04-30 Listed $120,000 RANW
• 2026-04-30 Listed $120,000 UPAR
• 2015-01-20 Sold (Public Records) $75,000 Public Records
• 2015-01-15 Sold (MLS) $75,000 METROMLS
• 2015-01-15 Sold (MLS) $75,000 MiRealSource-MiMLS
• 2015-01-15 Sold (MLS) $75,000 UPAR
• 2014-10-24 Listed $79,000 MiRealSource-MiMLS
• 2014-10-24 Listed $79,000 UPAR
• 2012-07-03 Sold (Public Records) $69,000 Public Records
• 2012-06-29 Sold (MLS) $69,000 UPAR
• 2012-06-29 Sold (MLS) $69,000 METROMLS
• 2012-06-29 Sold (MLS) $69,000 MiRealSource-MiMLS
• 2011-06-24 Listed $74,900 UPAR
• 2011-06-24 Listed $74,900 MiRealSource-MiMLS
• 2005-08-23 Sold (Public Records) $82,500 Public Records
• 2005-08-19 Sold (MLS) $82,500 METROMLS
• 2000-03-20 Sold (Public Records) $40,000 Public Records

Property tax history

+0.3%/yr

Latest (2025): $988 · +6.4% YoY. Source: county tax records.