409 W 4th St · Neillsville, WI 54456

$99,000

3 bd · 1.0 ba · 1,404 sqft · Other · 108 Days on market

Built 1943 8,712 sqft lot $71/sqft · 33% below area Est $148k · 33% under

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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 +19.2/30.0
• ARV discount +15.0/15.0
• 1% rule +6.3/10.0
• DSCR +6.1/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great opportunity to own a 3-bedroom, 1-bath home in the City of Neillsville with solid space and plenty of potential. Step out onto the nice rear deck--perfect for relaxing evenings, grilling, or enjoying the backyard. The home offers a practical layout and comfortable living areas ready for your personal touch. Conveniently located near downtown shops, dining, Schuster Park, and the Black River. Property shows deferred maintenance and an outdated interior, creating a strong opportunity for buyers or investors looking to update and build value.

Key facts

• Black river
• Rear deck
• Dining

Tags

• REAR DECK
• DOWNTOWN SHOPS
• DINING
• SCHUSTER PARK
• BLACK RIVER

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $99k.

Deal economics

• At list price, monthly cash flow is $107 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $99k).
• Recommended offer: $90k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 76/100 on livability (#133 in WI, #3,424 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools C-, employment D+, amenities F.
• Neillsville School District (rural): math 29% / reading 26% proficiency, ranked #297 of 342 in WI (top 87%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 68 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 $684 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 108 days — a 9% lower offer ($90k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; built in 1943 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $90,090 (9.0% below list)

Questions for the listing agent

1. It's been on market 108 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1943 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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.
7. 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.
8. 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: 1.13% ✓
• Cap rate: 7.59%
• Cash-on-cash: 4.61%
• DSCR: 1.21
• GRM: 7.4

CMA / ARV

• ARV (median comp): $147,696
• List price: $99,000
• Delta: -32.97%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -9.0%
• Equity multiple: 0.67×
• Total profit: $-9,178
• Equity at exit: $14,761

10-year hold

• IRR: 0.5%
• Equity multiple: 1.04×
• Total profit: $1,056
• Equity at exit: $8,560

Cash invested: $27,720 (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 54456

• Home prices YoY: -12.7%
• Active inventory: 68
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,121 medium
• Mortgage (P&I): −$519
• Tax from tax record: −$219 /mo · $2,624/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$235
• Net cashflow: $107

Break-even live

Break-even rent $986

Max offer price $99,000

Occupancy floor 85%

Sensitivity live

Price	-10% $163	-5% $135	+0% $107	+5% $79	+10% $51
Rent	-10% $18	-5% $62	+0% $107	+5% $151	+10% $195
Rate	-1.0pp $156	-0.5pp $132	base $107	+0.5pp $81	+1.0pp $55

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-21
   days on market $99,000 Active 108 DOM
2. 2026-06-18
   days on market $99,000 Active 106 DOM
3. 2026-06-17
   days on market $99,000 Active 105 DOM
4. 2026-06-16
   days on market $99,000 Active 104 DOM
5. 2026-06-15
   days on market $99,000 Active 103 DOM
6. 2026-06-15
   days on market $99,000 Active 102 DOM
7. 2026-06-13
   days on market $99,000 Active 101 DOM
8. 2026-06-12
   days on market $99,000 Active 100 DOM
9. 2026-06-09
   days on market $99,000 Active 97 DOM
10. 2026-06-08
    days on market $99,000 Active 96 DOM
11. 2026-06-08
    days on market $99,000 Active 95 DOM
12. 2026-06-07
    days on market $99,000 Active 94 DOM
13. 2026-06-03
    days on market $99,000 Active 91 DOM
14. 2026-06-02
    days on market $99,000 Active 90 DOM
15. 2026-06-01
    days on market $99,000 Active 89 DOM
16. 2026-05-31
    days on market $99,000 Active 88 DOM
17. 2026-03-04
    listed $99,000 Active 551-char remark

    Show marketing remark (551 chars)

    Great opportunity to own a 3-bedroom, 1-bath home in the City of Neillsville with solid space and plenty of potential. Step out onto the nice rear deck--perfect for relaxing evenings, grilling, or enjoying the backyard. The home offers a practical layout and comfortable living areas ready for your personal touch. Conveniently located near downtown shops, dining, Schuster Park, and the Black River. Property shows deferred maintenance and an outdated interior, creating a strong opportunity for buyers or investors looking to update and build value.

18. 2021-09-22
    soldstatus $108,000
19. 2020-09-23
    soldstatus $90,000
20. 2003-11-04
    soldstatus $60,000

ⓘ 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: $2,624 · $219/mo
• Projected year-2 tax: $2,624 · $219/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 2/10 Low 7 d/yr ≥97°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,453
• − Mortgage interest: −$5,546
• − Property taxes: −$2,624
• − Insurance: −$495
• − Repairs & maintenance: −$1,076
• − Management: −$1,076
• − Depreciation: −$2,880
• Taxable loss: −$244
• Est. tax savings @ 24.0%: +$58
• After-tax cash flow: $1,338/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: Neillsville School District
• NCES district ID: 5510350
• Math proficiency: 29% ▼ -13.00%
• Reading proficiency: 26% ▼ -2.00%
• Median HH income: $43,307
• Composite: 23.51/100
• National rank: #7870
• State rank: #297 of 342 in WI

Livability — Neillsville

• Score: 76/100
• State rank: #133
• US rank: #3424

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Neillsville, WI
• Population (ZIP): 5,968

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 (92%)
• Race & ethnicity: White 92% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Romanian 7% Portuguese 7% Lithuanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 2% German/W. Germanic 2% Other Asian/Pacific 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: ▼ -30.58%
• Current HPI: 210.5792
• 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

+65.0% since first listed

4 events — show timeline

• 2026-03-04 Listed $99,000 METROMLS
• 2021-09-22 Sold (Public Records) $108,000 Public Records
• 2020-09-23 Sold (Public Records) $90,000 Public Records
• 2003-11-04 Sold (Public Records) $60,000 Public Records

Property tax history

+6.8%/yr

Latest (2025): $2,624 · -2.7% YoY. Source: county tax records.