1211 Wells St · Marinette, WI 54143

$94,900

2 bd · 1.0 ba · 942 sqft · Other · 137 Days on market

Built 1940 2,178 sqft lot $101/sqft · 36% below area Est $148k · 36% under

---

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 +26.3/30.0
• ARV discount +15.0/15.0
• DSCR +8.9/10.0
• 1% rule +7.0/10.0
• 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

This 2-bedroom, 1-bath home with a full basement and an attached 1-car garage offers comfortable living on a compact lot (lot size is non-conforming), making it exceptionally low-maintenance for busy homeowners. It would make a great starter home, investment property, or perfect if you are looking to size down. This efficient design means less time spent on upkeep and more time enjoying life. Some images in this listing have been virtually staged.

Key facts

• 2,178 sq ft lot
• Garage
• Built 1940

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $95k.

Deal economics

• At list price, monthly cash flow is $245 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• Recommended offer: $84k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.4% vs local median 4.1% 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.
• Market conditions: 71 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 45d 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 $656 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $27k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 137 days — a 12% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $15k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $83,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 137 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.20% ✓
• Cap rate: 9.40%
• Cash-on-cash: 11.08%
• DSCR: 1.49
• GRM: 6.9

CMA / ARV

• ARV (median comp): $148,467
• List price: $94,900
• Delta: -36.08%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 0.3%
• Equity multiple: 1.01×
• Total profit: $267
• Equity at exit: $14,150

10-year hold

• IRR: 9.9%
• Equity multiple: 1.77×
• Total profit: $20,425
• Equity at exit: $8,205

Cash invested: $26,572 (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: 6.9×

Monthly cashflow live

• Estimated rent: $1,140 medium
• Mortgage (P&I): −$498
• Tax from tax record: −$118 /mo · $1,419/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$239
• Net cashflow: $245

Break-even live

Break-even rent $830

Max offer price $94,900

Occupancy floor 73%

Sensitivity live

Price	-10% $299	-5% $272	+0% $245	+5% $219	+10% $192
Rent	-10% $155	-5% $200	+0% $245	+5% $290	+10% $335
Rate	-1.0pp $293	-0.5pp $270	base $245	+0.5pp $221	+1.0pp $196

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: $23,725
• Closing costs: $2,847
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10 Cottage Row Unit 4 Marinette, WI	2.0	1.0	700	$475	$0.68	45d	1	0.79mi
403 Water St Unit 403 1/2 Marinette, WI	2.0	1.0	800	$1,100	$1.38	45d	1	1.09mi
709 8th St Menominee, MI	2.0	1.0	650	$999	$1.54	45d	1	1.15mi
3220 Mary St Unit A1 H6 Marinette, WI	1.0	1.0	800	$1,149	$1.44	45d	1	1.26mi
3220 Mary St Unit E7 Marinette, WI	2.0	1.0	900	$1,199	$1.33	45d	1	1.27mi

Listing history 26 events

1. 2026-06-21
   days on market $94,900 Active 137 DOM
2. 2026-06-19
   days on market $94,900 Active 135 DOM
3. 2026-06-18
   days on market $94,900 Active 134 DOM
4. 2026-06-17
   days on market $94,900 Active 133 DOM
5. 2026-06-16
   days on market $94,900 Active 132 DOM
6. 2026-06-15
   days on market $94,900 Active 131 DOM
7. 2026-06-14
   days on market $94,900 Active 129 DOM
8. 2026-06-12
   days on market $94,900 Active 128 DOM
9. 2026-06-09
   days on market $94,900 Active 125 DOM
10. 2026-06-08
    days on market $94,900 Active 124 DOM
11. 2026-06-07
    days on market $94,900 Active 123 DOM
12. 2026-06-05
    days on market $94,900 Active 121 DOM
13. 2026-06-04
    days on market $94,900 Active 119 DOM
14. 2026-06-02
    days on market $94,900 Active 118 DOM
15. 2026-06-01
    days on market $94,900 Active 117 DOM
16. 2026-05-31
    days on market $94,900 Active 116 DOM
17. 2026-05-31
    days on market $94,900 Active 115 DOM
18. 2026-05-04
    price $94,900 451-char remark

    Show marketing remark (451 chars)

    This 2-bedroom, 1-bath home with a full basement and an attached 1-car garage offers comfortable living on a compact lot (lot size is non-conforming), making it exceptionally low-maintenance for busy homeowners. It would make a great starter home, investment property, or perfect if you are looking to size down. This efficient design means less time spent on upkeep and more time enjoying life. Some images in this listing have been virtually staged.

19. 2026-05-04
    status Active 451-char remark

    Show marketing remark (451 chars)

    This 2-bedroom, 1-bath home with a full basement and an attached 1-car garage offers comfortable living on a compact lot (lot size is non-conforming), making it exceptionally low-maintenance for busy homeowners. It would make a great starter home, investment property, or perfect if you are looking to size down. This efficient design means less time spent on upkeep and more time enjoying life. Some images in this listing have been virtually staged.

20. 2026-05-04
    historical 451-char remark

    Show marketing remark (451 chars)

    This 2-bedroom, 1-bath home with a full basement and an attached 1-car garage offers comfortable living on a compact lot (lot size is non-conforming), making it exceptionally low-maintenance for busy homeowners. It would make a great starter home, investment property, or perfect if you are looking to size down. This efficient design means less time spent on upkeep and more time enjoying life. Some images in this listing have been virtually staged.

21. 2026-04-30
    status Active 451-char remark

    Show marketing remark (451 chars)

    This 2-bedroom, 1-bath home with a full basement and an attached 1-car garage offers comfortable living on a compact lot (lot size is non-conforming), making it exceptionally low-maintenance for busy homeowners. It would make a great starter home, investment property, or perfect if you are looking to size down. This efficient design means less time spent on upkeep and more time enjoying life. Some images in this listing have been virtually staged.

22. 2026-04-29
    historical Active w/ Contract 451-char remark

    Show marketing remark (451 chars)

    This 2-bedroom, 1-bath home with a full basement and an attached 1-car garage offers comfortable living on a compact lot (lot size is non-conforming), making it exceptionally low-maintenance for busy homeowners. It would make a great starter home, investment property, or perfect if you are looking to size down. This efficient design means less time spent on upkeep and more time enjoying life. Some images in this listing have been virtually staged.

23. 2026-04-21
    status Active 451-char remark

    Show marketing remark (451 chars)

    This 2-bedroom, 1-bath home with a full basement and an attached 1-car garage offers comfortable living on a compact lot (lot size is non-conforming), making it exceptionally low-maintenance for busy homeowners. It would make a great starter home, investment property, or perfect if you are looking to size down. This efficient design means less time spent on upkeep and more time enjoying life. Some images in this listing have been virtually staged.

24. 2026-03-13
    historical Active w/ Contract 451-char remark

    Show marketing remark (451 chars)

    This 2-bedroom, 1-bath home with a full basement and an attached 1-car garage offers comfortable living on a compact lot (lot size is non-conforming), making it exceptionally low-maintenance for busy homeowners. It would make a great starter home, investment property, or perfect if you are looking to size down. This efficient design means less time spent on upkeep and more time enjoying life. Some images in this listing have been virtually staged.

25. 2026-02-02
    listed $109,900 Active 451-char remark

    Show marketing remark (451 chars)

    This 2-bedroom, 1-bath home with a full basement and an attached 1-car garage offers comfortable living on a compact lot (lot size is non-conforming), making it exceptionally low-maintenance for busy homeowners. It would make a great starter home, investment property, or perfect if you are looking to size down. This efficient design means less time spent on upkeep and more time enjoying life. Some images in this listing have been virtually staged.

26. 2022-10-21
    soldstatus $88,500

ⓘ 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: $1,419 · $118/mo
• Projected year-2 tax: $1,587 · $132/mo
• Expected delta: +$168/yr (+$14/mo · 11.9%)

ⓘ 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: $13,683
• − Mortgage interest: −$5,316
• − Property taxes: −$1,419
• − Insurance: −$474
• − Repairs & maintenance: −$1,095
• − Management: −$1,095
• − Depreciation: −$2,761
• Taxable income: $1,524
• Est. tax owed @ 24.0%: −$366
• After-tax cash flow: $2,579/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

+7.2% since first listed

9 events — show timeline

• 2026-05-04 Price Changed $94,900 RANW
• 2026-05-04 Relisted — RANW
• 2026-05-04 Listing Removed — RANW
• 2026-04-30 Relisted — RANW
• 2026-04-29 Contingent — RANW
• 2026-04-21 Relisted — RANW
• 2026-03-13 Contingent — RANW
• 2026-02-02 Listed $109,900 RANW
• 2022-10-21 Sold (Public Records) $88,500 Public Records

Property tax history

+2.3%/yr

Latest (2025): $1,419 · +58.2% YoY. Source: county tax records.