211 E Main St · Mishicot, WI 54228

$220,000

4 bd · 2.0 ba · 1,989 sqft · Other · 14 Days on market

Built 1905 0.37 ac lot $111/sqft · 17% above area Est $188k · 17% over

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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 +19.8/30.0
• DSCR +6.3/10.0
• 1% rule +4.3/10.0
• Schools +4.2/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Versatile, well-maintained & full of opportunity - this turn-key property can function as either a duplex investment or be easily converted back into a single-family home! Unit 1 welcomes you w/ a charming sun porch, spacious LR w/ hardwood floors, & an updated kitchen w/ abundant cabinetry/counter space & island. Off the kitchen is a laundry room w/ sink, DW & pantry storage. The main level also has 2 bedrooms & an updated full bath. Unit 2 is tastefully renovated & features a kitchen w/ island flowing into a bright LR. You'll find 2 spacious bedrooms, full bath & convenient in-unit laundry. Outside is a heated 2-car garage plus numerous major updates - windows, furnace, A/C, plumbing & electrical. Move-in ready properties w/ this much character & long-term potential don't come along often!

Key facts

• Sun porch
• Pantry storage
• Laundry room

Tags

• SUN PORCH
• HARDWOOD FLOORS
• RENOVATED KITCHEN
• LAUNDRY ROOM
• PANTRY STORAGE
• 2ND KITCHEN

Property features AI

Finance

• Other: Zoning: MCD

Exterior

• Parking: Detached 2-car garage; Garage is heated and includes an opener
• Utilities: Municipal water; Municipal sewer; Natural gas service
• Home design: Single-family home; 2-story
• Construction: Year built per assessor/public record
• Exterior features: Exterior: Other; Lot size about 0.37 acres; Acreage less than 1/2

Interior

• Kitchen: Kitchen on main level (14 x 13); Dishwasher; Microwave; Oven; Refrigerator
• Bedrooms: Master bedroom on main level (13 x 12); Bedroom 2 on main level (11 x 10); Bedroom 3 on upper level (13 x 11); Bedroom 4 on upper level (11 x 10)
• Flooring: Wood floors
• Bathrooms: Two full baths; Shower over tub
• Heating & cooling: Forced air heating (natural gas); Central air
• Interior features: Wood floors; Full basement
• Laundry & utility: Washer; Dryer; Owned water softener

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath other listed at $220k.

Deal economics

• At list price, monthly cash flow is $262 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $205k (6.7% below list).
• Recommended offer: $205k (6.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 70/100 on livability (#300 in WI) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety D-.
• Mishicot School District (rural): math 47% / reading 49% proficiency, ranked #61 of 342 in WI (top 18%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 18% free/reduced lunch — higher-income household profile.
• Zoned schools: Schultz Elementary (math 42% / reading 42%, grade F, #433 of 1,041 statewide, top 46%, 448 students, 26% FRL); Mishicot High (math 42% / reading 42%, grade F, #74 of 483 statewide, top 18%, 279 students, 24% FRL).
• Market conditions: 13 active listings in the ZIP; 100 units permitted in Manitowoc County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Manitowoc County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 13y 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 $27k; list at $220k implies a 715% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1905 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $205,156 (6.7% below list)

Questions for the listing agent

1. Built in 1905 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
6. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
7. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
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: 0.93% ✗
• Cap rate: 7.72%
• Cash-on-cash: 5.11%
• DSCR: 1.23
• GRM: 8.9

CMA / ARV

• ARV (median comp): $187,777
• List price: $220,000
• Delta: 27.81%
• Verdict: OVERPRICED
• Comps: 3 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -8.4%
• Equity multiple: 0.69×
• Total profit: $-19,025
• Equity at exit: $32,803

10-year hold

• IRR: 1.1%
• Equity multiple: 1.08×
• Total profit: $4,649
• Equity at exit: $19,022

Cash invested: $61,600 (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 54228

• Home prices YoY: -26.8%
• Active inventory: 13
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $2,052 medium
• Mortgage (P&I): −$1,154
• Tax from tax record: −$113 /mo · $1,359/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$431
• Net cashflow: $262

Break-even live

Break-even rent $1,720

Max offer price $220,000

Occupancy floor 82%

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: $55,000
• Closing costs: $6,600
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-19
   days on market $220,000 Active 14 DOM
2. 2026-06-18
   days on market $220,000 Active 13 DOM
3. 2026-06-17
   days on market $220,000 Active 12 DOM
4. 2026-06-16
   days on market $220,000 Active 11 DOM
5. 2026-06-15
   days on market $220,000 Active 10 DOM
6. 2026-06-14
   days on market $220,000 Active 8 DOM
7. 2026-06-12
   days on market $220,000 Active 7 DOM
8. 2026-06-09
   days on market $220,000 Active 4 DOM
9. 2026-06-08
   days on market $220,000 Active 3 DOM
10. 2026-06-07
    remarks 683-char remark
11. 2026-06-07
    pricedays on marketlisting id $220,000 Active 2 DOM
12. 2026-06-03
    days on market $240,000 Active 21 DOM
13. 2026-06-02
    days on market $240,000 Active 20 DOM
14. 2026-06-01
    days on market $240,000 Active 19 DOM
15. 2026-05-31
    days on market $240,000 Active 18 DOM
16. 2026-05-30
    days on market $240,000 Active 17 DOM
17. 2026-05-13
    listed $240,000 Active 853-char remark

    Show marketing remark (855 chars)

    Versatile, well-maintained & full of opportunity - this turn-key property can function as either a duplex investment or be easily converted back into a single-family home! Unit 1 welcomes you w/ a charming sun porch, spacious LR w/ hardwood floors, & an updated kitchen w/ abundant cabinetry/counter space & island. Off the kitchen is a laundry room w/ sink, DW & pantry storage. The main level also has 2 bedrooms & an updated full bath. Unit 2 is tastefully renovated & features a kitchen w/ island flowing into a bright LR. You'll find 2 spacious bedrooms, full bath & convenient in-unit laundry. Outside is a heated 2-car garage plus numerous major updates - windows, furnace, A/C, plumbing & electrical. Move-in ready properties w/ this much character & long-term potential don't come along often!

18. 2013-01-12
    listed $39,000 315-char remark
19. 2013-01-12
    historical 315-char remark
20. 2009-10-06
    soldstatus $27,000 315-char remark

ⓘ 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: $1,359 · $113/mo
• Projected year-2 tax: $2,715 · $226/mo
• Expected delta: +$1,355/yr (+$113/mo · 99.7%)

ⓘ 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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥90°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,619
• − Mortgage interest: −$12,323
• − Property taxes: −$1,359
• − Insurance: −$1,100
• − Repairs & maintenance: −$1,969
• − Management: −$1,969
• − Depreciation: −$6,400
• Taxable loss: −$503
• Est. tax savings @ 24.0%: +$121
• After-tax cash flow: $3,266/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: Mishicot School District
• NCES district ID: 5509750
• Math proficiency: 47% ▲ 3.00%
• Reading proficiency: 49% ▲ 3.00%
• Median HH income: $59,706
• Composite: 42.06/100
• National rank: #3326
• State rank: #61 of 342 in WI

Livability — Mishicot

• Score: 70/100
• State rank: #300
• US rank: #7879

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mishicot, WI
• Population (ZIP): 2,886

Population outlook (Manitowoc County) Hauer SSP2

• Today (2025): 76,561 people
• By 2030: 74,096 · -3.2%
• By 2040: 67,752 · -11.5%
• By 2050: 60,731 · -20.7%
• By 2075: 48,723 · -36.4%
• By 2100: 39,250 · -48.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Romanian 14% English 5% Lithuanian 4%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Manitowoc

• 2024 margin: Strong R (+23.4) · D 37.6% · R 61.0% · Other 1.4%
• 2008→2024 swing: -30.9pp toward R · 2008: 7.5pp · 2024: -23.4pp
• All cycles: 2024: R+23.4 2020: R+23.2 2016: R+21.7 2012: R+2.8 2008: D+7.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -79.14%
• Current HPI: 216.5486
• 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

+714.8% since first listed

7 events — show timeline

• 2026-06-05 Listing Removed — METROMLS
• 2026-06-05 Listed $220,000 METROMLS
• 2026-06-05 Listed $220,000 METROMLS
• 2026-05-13 Listed $240,000 METROMLS
• 2013-01-12 Listing Removed — METROMLS
• 2013-01-12 Listed $39,000 METROMLS
• 2009-10-06 Sold (MLS) $27,000 METROMLS

Property tax history

+0.6%/yr

Latest (2025): $1,359 · +18.5% YoY. Source: county tax records.