N8838 Kabacinski Ln · Stephenson, WI 54114

$129,900

1 bd · 1.0 ba · 1,292 sqft · SingleFamily · 60 Days on market

Built 1974 0.53 ac lot $101/sqft · 37% below area Est $207k · 37% under ↓ 13% since listing

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Why this score? — see what drove the C 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 +21.6/30.0
• ARV discount +15.0/15.0
• DSCR +6.9/10.0
• 1% rule +4.7/10.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Nestled among towering pines on a quiet dead-end road, N8838 Kabacinski Lane offers the perfect blend of privacy and Northwoods charm. This 1970 manufactured home features spacious additions, a cozy pellet stove with supplemental electric heat, and flexible living space ideal for a cabin getaway or year-round residence. The property includes a 2-car detached garage with rear workshop, a 22' x 14' shed with lean-to, decorative pond, and firepit. Located in the heart of the High Falls Recreation Area, it's a haven for outdoor enthusiasts.

Key facts

• Cozy pellet stove
• Decorative pond
• Rear workshop

Tags

• QUIET DEAD-END ROAD
• COZY PELLET STOVE
• FLEXIBLE LIVING SPACE
• DETACHED GARAGE
• REAR WORKSHOP
• DECORATIVE POND

Property features AI

Finance

• Other: Lot approximately 0.53 acre (about 1/2 to 1 acre); Zoning: Marinette County; Included: sold as-is; Exclusions: seller's personal belongings

Exterior

• Parking: Detached 2-car garage
• Utilities: Private well; Private septic system; Electric service available; Wood/coal capable heating
• Home design: Single-family home; One-story
• Construction: Vinyl exterior
• Exterior features: Deck; Garden shed; Wooded lot

Interior

• Kitchen: Kitchen on main level, approximately 28 x 11; Range; Refrigerator
• Bedrooms: Main-level master bedroom, approximately 15 x 15
• Bathrooms: Master bathroom with walk-in shower; One full bathroom
• Heating & cooling: Radiant / hot water heating; Electric and wood/coal fuel sources
• Interior features: Crawl space / slab foundation
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $197 ($2k/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 $126k (2.8% below list).
• Recommended offer: $126k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Crivitz School District (rural): math 38% / reading 34% proficiency, ranked #225 of 342 in WI (top 66%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Crivitz Elementary (math 32% / reading 30%, grade F, #701 of 1,041 statewide, top 67%, 468 students, 44% FRL); Crivitz Middle (math 47% / reading 42%, grade D, #94 of 383 statewide, top 28%, 104 students, 40% FRL); Crivitz High (math 54% / reading 44%, grade D, #36 of 483 statewide, top 9%, 219 students, 42% FRL) — zoned schools at 42% FRL track the district average.
• Market conditions: 84 active listings in the ZIP; 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 $898 of loan paydown is wiped out by about $4k 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.

Negotiation context

• It's been on market 60 days — a 3% lower offer ($126k) is reasonable based on typical stale-listing flexibility.

Recommended offer $126,003 (3.0% below list)

Questions for the listing agent

1. It's been on market 60 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1974 — 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. 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.
5. 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.
6. 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: 0.97% ✗
• Cap rate: 8.11%
• Cash-on-cash: 6.49%
• DSCR: 1.29
• GRM: 8.6

CMA / ARV

• ARV (median comp): $207,095
• List price: $129,900
• Delta: -37.28%
• Verdict: UNDERPRICED
• Comps: 11 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -6.3%
• Equity multiple: 0.76×
• Total profit: $-8,557
• Equity at exit: $19,369

10-year hold

• IRR: 3.2%
• Equity multiple: 1.23×
• Total profit: $8,522
• Equity at exit: $11,231

Cash invested: $36,372 (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 54114

• Home prices YoY: -12.5%
• Active inventory: 84
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,263 medium
• Mortgage (P&I): −$681
• Tax from tax record: −$65 /mo · $784/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$265
• Net cashflow: $197

Break-even live

Break-even rent $1,014

Max offer price $129,900

Occupancy floor 79%

Sensitivity live

Price	-10% $270	-5% $234	+0% $197	+5% $160	+10% $123
Rent	-10% $97	-5% $147	+0% $197	+5% $247	+10% $297
Rate	-1.0pp $262	-0.5pp $230	base $197	+0.5pp $163	+1.0pp $129

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-21
   statusdays on market $129,900 Pending 60 DOM
2. 2026-06-18
   days on market $129,900 Active 59 DOM
3. 2026-06-17
   days on market $129,900 Active 58 DOM
4. 2026-06-16
   days on market $129,900 Active 57 DOM
5. 2026-06-15
   days on market $129,900 Active 56 DOM
6. 2026-06-15
   days on market $129,900 Active 55 DOM
7. 2026-06-13
   days on market $129,900 Active 54 DOM
8. 2026-06-12
   pricedays on market $129,900 Active 53 DOM
9. 2026-06-09
   days on market $134,900 Active 50 DOM
10. 2026-06-08
    days on market $134,900 Active 49 DOM
11. 2026-06-08
    days on market $134,900 Active 48 DOM
12. 2026-06-07
    days on market $134,900 Active 47 DOM
13. 2026-06-03
    days on market $134,900 Active 44 DOM
14. 2026-06-02
    days on market $134,900 Active 43 DOM
15. 2026-06-01
    days on market $134,900 Active 42 DOM
16. 2026-05-31
    days on market $134,900 Active 41 DOM
17. 2026-05-14
    price $144,900 542-char remark
18. 2026-04-20
    listed $149,900 Active 542-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: $784 · $65/mo
• Projected year-2 tax: $1,594 · $133/mo
• Expected delta: +$809/yr (+$67/mo · 103.2%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥95°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: $15,152
• − Mortgage interest: −$7,276
• − Property taxes: −$784
• − Insurance: −$650
• − Repairs & maintenance: −$1,212
• − Management: −$1,212
• − Depreciation: −$3,779
• Taxable income: $238
• Est. tax owed @ 24.0%: −$57
• After-tax cash flow: $2,304/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: Crivitz School District
• NCES district ID: 5502970
• Math proficiency: 38% ▼ -7.00%
• Reading proficiency: 34% ▼ -5.00%
• Median HH income: $40,013
• Composite: 30.25/100
• National rank: #6289
• State rank: #225 of 342 in WI

Livability — Stephenson

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 5,845

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 (93%)
• Race & ethnicity: White 93% Hispanic / Latino 4% Two or more races 3%
• Common ancestry: Romanian 15% Lithuanian 5% English 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2% French/Haitian/Cajun 1% Russian/Polish/Slavic 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: ▼ -34.94%
• Current HPI: 244.7298
• 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

-13.3% since first listed

5 events — show timeline

• 2026-06-20 Pending — METROMLS
• 2026-06-12 Price Changed $129,900 METROMLS
• 2026-05-28 Price Changed $134,900 METROMLS
• 2026-05-14 Price Changed $144,900 METROMLS
• 2026-04-20 Listed $149,900 METROMLS

Property tax history

+1.1%/yr

Latest (2025): $784 · +5.1% YoY. Source: county tax records.