301 Church St · Thorp, WI 54771

$110,000

3 bd · 2.0 ba · 1,068 sqft · SingleFamily · 298 Days on market

Built 1958 0.38 ac lot $103/sqft · 36% below area Est $171k · 36% under ↓ 14% since listing

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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).

• ARV discount +15.0/15.0
• Cash flow +10.5/30.0
• Livability +3.4/5.0
• Schools +3.3/10.0
• 1% rule +3.0/10.0
• DSCR +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

1 story home with full basement, attached garage and 2 car detached garage/workshop, 3 bedrooms, 1st floor and basement bathrooms. Metal roof new in 2023. Furnace approximately 1993. Updated 150 Amp breaker box electrical. Large apple tree in the back yard. Stove/oven in basement is also included. No warranty on appliances! Estate property selling AS IS.

Key facts

• Updated breaker box
• Metal roof
• Attached garage

Tags

• FULL BASEMENT
• ATTACHED GARAGE
• DETACHED GARAGE
• METAL ROOF
• UPDATED BREAKER BOX
• LARGE APPLE TREE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $-56 ($-671/yr) — negative.
• To cash-flow at today's rent, offer at most $100k (9.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $87k (20.5% below list).
• Recommended offer: $87k (20.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 68/100 on livability (#382 in WI) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety D, amenities F, commute F.
• Thorp School District (rural): math 42% / reading 37% proficiency, ranked #174 of 342 in WI (top 51%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Thorp Elementary (math 48% / reading 40%, grade F, #421 of 1,041 statewide, top 41%, 362 students, 52% FRL); Thorp High (math 15% / reading 15%, grade F, #414 of 483 statewide, top 87%, 165 students, 47% FRL).
• Market conditions: 24 active listings in the ZIP; 76 units permitted in Clark County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $761 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Clark County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 298 days — a 12% lower offer ($97k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $87,488 (20.5% 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 298 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
3. Built in 1958 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 0.80% ✗
• Cap rate: 5.68%
• Cash-on-cash: -2.18%
• DSCR: 0.90
• GRM: 10.5

CMA / ARV

• ARV (median comp): $171,256
• List price: $110,000
• Delta: -35.77%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
300 W Main St	0.25mi	3/1.0	1,059 (-1%)	9mo	$165,000	$156	75
308 W Main St	0.20mi	3/1.5	1,150 (+8%)	2mo	$220,000	$191	74
310 W Main St	0.19mi	3/1.5	980 (-8%)	10mo	$163,000	$166	67
304 E School St	0.61mi	3/1.0	1,064 (-0%)	13mo	$185,000	$174	56
510 Washington St	0.45mi	3/1.0	972 (-9%)	6mo	$145,825	$150	55
203 W Grant St	0.37mi	3/1.0	1,144 (+7%)	18mo	$197,000	$172	52
704 Thorp St	0.63mi	3/1.0	1,056 (-1%)	22mo	$196,800	$186	46
204 E Rusch St	0.71mi	2/1.5 (-1)	1,116 (+4%)	8mo	$212,500	$190	46
106 E Lawrence St	0.54mi	2/1.0 (-1)	969 (-9%)	7mo	$155,250	$160	44
301 E School St	0.58mi	2/1.0 (-1)	1,090 (+2%)	20mo	$146,000	$134	44
200 Thorp St	0.57mi	3/1.5	1,216 (+14%)	19mo	$155,000	$127	33
403 S Thorp St	0.65mi	2/1.0 (-1)	924 (-14%)	23mo	$125,000	$135	19

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: -19.9%
• Equity multiple: 0.31×
• Total profit: $-21,383
• Equity at exit: $16,401

10-year hold

• IRR: -12.8%
• Equity multiple: 0.25×
• Total profit: $-23,187
• Equity at exit: $9,511

Cash invested: $30,800 (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 54771

• Home prices YoY: -17.2%
• Active inventory: 24
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $875 medium
• Mortgage (P&I): −$577
• Tax from tax record: −$124 /mo · $1,493/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$184
• Net cashflow: $-56

Break-even live

Break-even rent $946

Max offer price $100,116

Occupancy floor —

Sensitivity live

Price	-10% $6	-5% $-25	+0% $-56	+5% $-87	+10% $-118
Rent	-10% $-125	-5% $-91	+0% $-56	+5% $-21	+10% $13
Rate	-1.0pp $-1	-0.5pp $-28	base $-56	+0.5pp $-84	+1.0pp $-113

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-21
   days on market $110,000 Active 298 DOM
2. 2026-06-21
   days on market $110,000 Active 297 DOM
3. 2026-06-18
   days on market $110,000 Active 295 DOM
4. 2026-06-17
   days on market $110,000 Active 294 DOM
5. 2026-06-16
   days on market $110,000 Active 293 DOM
6. 2026-06-15
   days on market $110,000 Active 292 DOM
7. 2026-06-15
   days on market $110,000 Active 291 DOM
8. 2026-06-13
   days on market $110,000 Active 290 DOM
9. 2026-06-12
   days on market $110,000 Active 289 DOM
10. 2026-06-09
    days on market $110,000 Active 286 DOM
11. 2026-06-08
    days on market $110,000 Active 285 DOM
12. 2026-06-08
    days on market $110,000 Active 284 DOM
13. 2026-06-05
    days on market $110,000 Active 282 DOM
14. 2026-06-04
    days on market $110,000 Active 281 DOM
15. 2026-06-03
    days on market $110,000 Active 280 DOM
16. 2026-06-02
    days on market $110,000 Active 279 DOM
17. 2026-06-01
    days on market $110,000 Active 278 DOM
18. 2026-05-31
    days on market $110,000 Active 277 DOM
19. 2026-03-30
    price $119,900 356-char remark

    Show marketing remark (356 chars)

    1 story home with full basement, attached garage and 2 car detached garage/workshop, 3 bedrooms, 1st floor and basement bathrooms. Metal roof new in 2023. Furnace approximately 1993. Updated 150 Amp breaker box electrical. Large apple tree in the back yard. Stove/oven in basement is also included. No warranty on appliances! Estate property selling AS IS.

20. 2025-11-13
    price $134,000 356-char remark

    Show marketing remark (356 chars)

    1 story home with full basement, attached garage and 2 car detached garage/workshop, 3 bedrooms, 1st floor and basement bathrooms. Metal roof new in 2023. Furnace approximately 1993. Updated 150 Amp breaker box electrical. Large apple tree in the back yard. Stove/oven in basement is also included. No warranty on appliances! Estate property selling AS IS.

21. 2025-08-27
    listed $139,900 Active 356-char remark

    Show marketing remark (356 chars)

    1 story home with full basement, attached garage and 2 car detached garage/workshop, 3 bedrooms, 1st floor and basement bathrooms. Metal roof new in 2023. Furnace approximately 1993. Updated 150 Amp breaker box electrical. Large apple tree in the back yard. Stove/oven in basement is also included. No warranty on appliances! Estate property selling AS IS.

ⓘ 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: $1,493 · $124/mo
• Projected year-2 tax: $1,764 · $147/mo
• Expected delta: +$271/yr (+$23/mo · 18.2%)

ⓘ 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 1/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥95°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,499
• − Mortgage interest: −$6,162
• − Property taxes: −$1,493
• − Insurance: −$550
• − Repairs & maintenance: −$840
• − Management: −$840
• − Depreciation: −$3,200
• Taxable loss: −$2,586
• Est. tax savings @ 24.0%: +$621
• After-tax cash flow: $-51/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: Thorp School District
• NCES district ID: 5514820
• Math proficiency: 42% ▲ 7.00%
• Reading proficiency: 37% ▲ 1.00%
• Median HH income: $43,254
• Composite: 33.46/100
• National rank: #5459
• State rank: #174 of 342 in WI

Livability — Thorp

• Score: 68/100
• State rank: #382
• US rank: #9668

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Thorp, WI
• Population (ZIP): 4,291

Population outlook (Clark County) Hauer SSP2

• Today (2025): 32,111 people
• By 2030: 30,727 · -4.3%
• By 2040: 28,092 · -12.5%
• By 2050: 25,512 · -20.6%
• By 2075: 20,054 · -37.5%
• By 2100: 15,753 · -50.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Romanian 21% Portuguese 6% Lithuanian 3%
• Foreign-born: 1% · Canada
• Languages at home: 82% English-only · German/W. Germanic 16% Spanish 1%

Political lean MEDSL · Clark

• 2024 margin: Solid R (+39.0) · D 29.4% · R 68.4% · Other 2.1%
• 2008→2024 swing: -46.5pp toward R · 2008: 7.5pp · 2024: -39.0pp
• All cycles: 2024: R+39.0 2020: R+36.8 2016: R+32.6 2012: R+8.9 2008: D+7.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -46.55%
• Current HPI: 223.5038
• 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

-14.3% since first listed

3 events — show timeline

• 2026-03-30 Price Changed $119,900 RANWW
• 2025-11-13 Price Changed $134,000 RANWW
• 2025-08-27 Listed $139,900 RANWW

Property tax history

+0.2%/yr

Latest (2025): $1,493 · -0.4% YoY. Source: county tax records.