234 Frank St · Oconto, WI 54153

$139,900

3 bd · 1.0 ba · 1,077 sqft · SingleFamily · 63 Days on market

Built 1900 4,356 sqft lot $130/sqft · 6% below area Est $149k · 6% under

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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).

• Cash flow +14.8/30.0
• ARV discount +10.3/15.0
• DSCR +4.5/10.0
• Livability +3.8/5.0
• 1% rule +3.4/10.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Classic and charming 3-bedroom home in the City of Oconto with great bones and tons of potential! Just two blocks from the Oconto River and conveniently located near restaurants and Thompson's County Market. A great opportunity to build equity and make it your own!

Key facts

• Near restaurants
• Oconto river
• 4,356 sq ft lot

Tags

• OCONTO RIVER
• NEAR RESTAURANTS
• THOMPSON'S COUNTY MARKET

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $-17 ($-209/yr) — negative.
• To cash-flow at today's rent, offer at most $137k (2.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $117k (16.2% below list).
• Recommended offer: $117k (16.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 76/100 on livability (#136 in WI, #3,585 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, amenities F, commute F.
• Oconto Unified School District (town): math 42% / reading 38% proficiency, ranked #155 of 342 in WI (top 45%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 35 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 132 units permitted in Oconto County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $967 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Oconto County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 63 days — a 6% lower offer ($132k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $117,169 (16.2% 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. It's been on market 63 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 0.84% ✗
• Cap rate: 6.62%
• Cash-on-cash: 1.17%
• DSCR: 1.05
• GRM: 10.0

CMA / ARV

• ARV (median comp): $149,204
• List price: $139,900
• Delta: -6.24%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
409 Broadway Ave	0.12mi	3/1.0	1,078 (+0%)	6mo	$142,500	$132	89
237 Center St	0.14mi	2/1.0 (-1)	1,032 (-4%)	3mo	$160,000	$155	79
251 Erie Ave	0.34mi	3/1.0	1,064 (-1%)	8mo	$135,000	$127	75
145 Bridge St	0.25mi	3/1.0	1,056 (-2%)	15mo	$130,000	$123	72
615 Michigan Ave	0.55mi	2/1.0 (-1)	1,119 (+4%)	3mo	$115,000	$103	60
403 Scherer Ave	0.63mi	2/1.0 (-1)	1,100 (+2%)	4mo	$114,900	$104	59
236 Center St	0.16mi	2/1.0 (-1)	1,228 (+14%)	11mo	$125,000	$102	55
219 Pine Ave	0.48mi	3/1.0	1,238 (+15%)	10mo	$170,000	$137	44
226 Congress St	0.69mi	3/1.0	946 (-12%)	10mo	$149,900	$158	39

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: -17.2%
• Equity multiple: 0.39×
• Total profit: $-23,774
• Equity at exit: $20,860

10-year hold

• IRR: -9.1%
• Equity multiple: 0.44×
• Total profit: $-22,116
• Equity at exit: $12,096

Cash invested: $39,172 (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 54153

• Home prices YoY: -20.5%
• Active inventory: 35
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $1,172 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$96 /mo · $1,147/yr
• Insurance: −$58
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$246
• Net cashflow: $-17

Break-even live

Break-even rent $1,194

Max offer price $136,828

Occupancy floor 96%

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2451 Doran St Oconto, WI	2.0	1.0	950	$850	$0.89	44d	1	0.61mi
416 Washington St Oconto, WI	3.0	1.0	1500	$1,700	$1.13	44d	1	0.81mi

Listing history 16 events

1. 2026-06-18
   days on market $139,900 Active 63 DOM
2. 2026-06-17
   days on market $139,900 Active 62 DOM
3. 2026-06-16
   days on market $139,900 Active 61 DOM
4. 2026-06-15
   days on market $139,900 Active 60 DOM
5. 2026-06-15
   days on market $139,900 Active 59 DOM
6. 2026-06-13
   days on market $139,900 Active 58 DOM
7. 2026-06-12
   days on market $139,900 Active 57 DOM
8. 2026-06-09
   days on market $139,900 Active 54 DOM
9. 2026-06-08
   days on market $139,900 Active 53 DOM
10. 2026-06-08
    days on market $139,900 Active 52 DOM
11. 2026-06-05
    days on market $139,900 Active 50 DOM
12. 2026-06-03
    days on market $139,900 Active 48 DOM
13. 2026-06-02
    days on market $139,900 Active 47 DOM
14. 2026-06-01
    days on market $139,900 Active 46 DOM
15. 2026-05-31
    days on market $139,900 Active 45 DOM
16. 2026-04-16
    listed $149,900 Active 265-char remark

    Show marketing remark (265 chars)

    Classic and charming 3-bedroom home in the City of Oconto with great bones and tons of potential! Just two blocks from the Oconto River and conveniently located near restaurants and Thompson's County Market. A great opportunity to build equity and make it your own!

ⓘ 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: $1,147 · $96/mo
• Projected year-2 tax: $1,867 · $156/mo
• Expected delta: +$721/yr (+$60/mo · 62.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (shaded) · 94% 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 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,060
• − Mortgage interest: −$7,837
• − Property taxes: −$1,147
• − Insurance: −$1,366
• − Repairs & maintenance: −$1,125
• − Management: −$1,125
• − Depreciation: −$4,070
• Taxable loss: −$2,608
• Est. tax savings @ 24.0%: +$626
• After-tax cash flow: $417/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: Oconto Unified School District
• NCES district ID: 5510920
• Math proficiency: 42% ▼ -8.00%
• Reading proficiency: 38% ▼ -2.00%
• Median HH income: $47,562
• Composite: 34.28/100
• National rank: #5249
• State rank: #155 of 342 in WI

Livability — Oconto

• Score: 76/100
• State rank: #136
• US rank: #3585

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Oconto, WI
• Population (ZIP): 7,401

Population outlook (Oconto County) Hauer SSP2

• Today (2025): 36,829 people
• By 2030: 35,853 · -2.7%
• By 2040: 32,932 · -10.6%
• By 2050: 29,355 · -20.3%
• By 2075: 22,731 · -38.3%
• By 2100: 16,736 · -54.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Hispanic / Latino 5% Two or more races 5% Native American 3%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Romanian 9% Lithuanian 4% English 3%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · German/W. Germanic 1%

Political lean MEDSL · Oconto

• 2024 margin: Solid R (+43.0) · D 28.0% · R 71.0%
• 2008→2024 swing: -49.2pp toward R · 2008: 6.2pp · 2024: -43.0pp
• All cycles: 2024: R+43.0 2020: R+41.0 2016: R+37.0 2012: R+9.5 2008: D+6.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -70.22%
• Current HPI: 271.8747
• 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

• 2026-04-16 Listed $149,900 RANW

Property tax history

+2.8%/yr

Latest (2025): $1,147 · +2.3% YoY. Source: county tax records.