1615 Main St · Oconto, WI 54153

$142,900

2 bd · 1.5 ba · 1,266 sqft · Other · 10 Days on market

Built 1900 0.53 ac lot

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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 +21.7/30.0
• ARV discount +7.5/15.0
• DSCR +6.9/10.0
• 1% rule +5.8/10.0
• Livability +3.8/5.0
• 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

On the edge of town. Some work is started, but needs to be completed. Upper bedroom has the drywall up. Free standing wood stove in LR. Being sold as-is.

Key facts

• Ample outdoor space
• Spacious lot
• Conveniently located

Tags

• SPACIOUS LOT
• EXTENSIVE RENOVATIONS
• AMPLE OUTDOOR SPACE
• CONVENIENTLY LOCATED

Property features AI

Finance

• Other: Lot size approximately 0.53 acres (greater than or equal to 1/2 acre)

Exterior

• Parking: Detached 2-car garage with opener; Additional garage parking (total 2 garage spaces)
• Utilities: Municipal water; Municipal sewer; Natural gas
• Home design: 1.5-story single-family home; Construction completed; Vinyl exterior; Residential zoning
• Construction: Assessor/public record for year built
• Exterior features: Deck; Sidewalks

Interior

• Kitchen: Dishwasher; Range/Oven; Refrigerator
• Bedrooms: Primary bedroom 14 x 21 (upper level); Second bedroom 8 x 15 (main level)
• Flooring: Wood floors
• Bathrooms: One full bathroom; One half bathroom; At least one tub
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Cable/satellite available; High-speed internet; Cathedral/vaulted ceiling; Wood floors
• Laundry & utility: Washer included; Full basement with outside entry, block foundation, and sump pump

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath other listed at $143k.

Deal economics

• At list price, monthly cash flow is $165 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $143k).

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.
• Zoned schools: Oconto Elementary (math 27% / reading 32%, grade F, #705 of 1,041 statewide, top 71%, 368 students, 53% FRL); Oconto Middle (math 53% / reading 36%, grade D, #94 of 383 statewide, top 28%, 288 students, 50% FRL); Oconto High (math 37% / reading 42%, grade F, #99 of 483 statewide, top 24%, 280 students, 39% FRL).
• 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 $988 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

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $65k; list at $143k implies a 120% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $142,900

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 1.08% ✓
• Cap rate: 8.14%
• Cash-on-cash: 6.61%
• DSCR: 1.29
• GRM: 7.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -8.6%
• Equity multiple: 0.69×
• Total profit: $-12,586
• Equity at exit: $21,307

10-year hold

• IRR: 1.0%
• Equity multiple: 1.07×
• Total profit: $2,826
• Equity at exit: $12,355

Cash invested: $40,012 (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: 7.7×

Monthly cashflow live

• Estimated rent: $1,541 medium
• Mortgage (P&I): −$749
• Tax from tax record: −$188 /mo · $2,256/yr
• Insurance: −$60
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$324
• Net cashflow: $165

Break-even live

Break-even rent $1,332

Max offer price $142,900

Occupancy floor 84%

Sensitivity live

Price	-10% $246	-5% $205	+0% $165	+5% $125	+10% $84
Rent	-10% $43	-5% $104	+0% $165	+5% $226	+10% $287
Rate	-1.0pp $237	-0.5pp $201	base $165	+0.5pp $128	+1.0pp $90

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: $35,725
• Closing costs: $4,287
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
416 Washington St Oconto, WI	3.0	1.0	1500	$1,700	$1.13	45d	1	0.38mi
2451 Doran St Oconto, WI	2.0	1.0	950	$850	$0.89	45d	1	1.47mi

Listing history 10 events

1. 2026-06-21
   days on market $142,900 Active 10 DOM
2. 2026-06-21
   days on market $142,900 Active 9 DOM
3. 2026-06-18
   days on market $142,900 Active 7 DOM
4. 2026-06-17
   days on market $142,900 Active 6 DOM
5. 2026-06-16
   days on market $142,900 Active 5 DOM
6. 2026-06-15
   days on market $142,900 Active 4 DOM
7. 2026-06-15
   days on market $142,900 Active 3 DOM
8. 2026-06-13
   days on market $142,900 Active 2 DOM
9. 2026-06-12
   remarks 699-char remark
10. 2026-06-12
    listed $142,900 Active 1 DOM

ⓘ 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: $2,256 · $188/mo
• Projected year-2 tax: $2,450 · $204/mo
• Expected delta: +$194/yr (+$16/mo · 8.6%)

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 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: $18,492
• − Mortgage interest: −$8,005
• − Property taxes: −$2,256
• − Insurance: −$1,381
• − Repairs & maintenance: −$1,479
• − Management: −$1,479
• − Depreciation: −$4,157
• Taxable loss: −$265
• Est. tax savings @ 24.0%: +$64
• After-tax cash flow: $2,043/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

+108.9% since first listed

4 events — show timeline

• 2026-06-11 Listed $142,900 RANW
• 2021-07-15 Sold (Public Records) $65,000 Public Records
• 2009-02-13 Sold (MLS) $15,000 METROMLS
• 2006-05-25 Sold (Public Records) $68,400 Public Records

Property tax history

+4.9%/yr

Latest (2025): $2,256 · -0.2% YoY. Source: county tax records.