440 2nd Avenue Ave N · Onalaska, WI 54650

$179,900

2 bd · 1.0 ba · 964 sqft · Other · 62 Days on market

Built 1913 5,662 sqft lot $187/sqft · 22% below area Est $229k · 22% under

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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 +9.8/30.0
• Rent growth +3.7/5.0
• Livability +3.7/5.0
• Schools +3.5/10.0
• DSCR +2.8/10.0
• Condition / age +2.5/5.0
• 1% rule +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to this beautifully updated gem located in the heart of Onalaska. Whether you're a first-time buyer or looking to downsize without sacrificing quality, this property delivers peace of mind with extensive recent upgrades and a location that can't be beat. New roof and windows in 2024, remodeled bathroom and flooring throughout the home, along with a fully fenced in backyard. Just minutes away from Onalaska's best parks, local dining, and the Great River Landing. Enjoy the quiet neighborhood feel while staying conveniently close to everything the Coulee Region has to offer.

Key facts

• Updated gem
• Remodeled bathroom
• New roof

Tags

• UPDATED GEM
• NEW ROOF
• NEW WINDOWS
• REMODELED BATHROOM
• FULLY FENCED BACKYARD
• QUIET NEIGHBORHOOD FEEL

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $180k.

Deal economics

• At list price, monthly cash flow is $-116 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $159k (11.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $129k (28.3% below list).
• Recommended offer: $129k (28.3% below list) — sets the bar for 1% rule.
• Cap rate 5.5% vs local median 3.0% in Onalaska — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 73/100 on livability (#214 in WI) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A; Watch: amenities F, commute F.
• Onalaska School District (urban): math 39% / reading 41% proficiency, ranked #147 of 342 in WI (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+4.7%/yr); 128 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 268 units permitted in La Crosse County in 2024 (10 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• La Crosse County population projected at +14% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 62 days — a 6% lower offer ($169k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 3y ago; this cycle's ask has dropped $20k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $105k; list at $180k implies a 71% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1913 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $129,054 (28.3% 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 62 days. Have you received any prior offers? Is the seller open to a 28% concession, seller financing, or rate buy-down credit?
3. Built in 1913 — 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 0.72% ✗
• Cap rate: 5.52%
• Cash-on-cash: -2.77%
• DSCR: 0.88
• GRM: 11.6

CMA / ARV

• ARV (median comp): $229,364
• List price: $179,900
• Delta: -21.57%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.66% rent growth · sell at horizon

5-year hold

• IRR: -19.3%
• Equity multiple: 0.32×
• Total profit: $-34,425
• Equity at exit: $26,824

10-year hold

• IRR: -9.2%
• Equity multiple: 0.40×
• Total profit: $-30,417
• Equity at exit: $15,554

Cash invested: $50,372 (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 54650

• Rents YoY: 4.7%
• Active inventory: 128
• Price-to-rent: 11.6×

Monthly cashflow live

• Estimated rent: $1,291 medium
• Mortgage (P&I): −$943
• Tax from tax record: −$118 /mo · $1,412/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$271
• Net cashflow: $-116

Break-even live

Break-even rent $1,438

Max offer price $159,324

Occupancy floor —

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
510 Quincy St Unit 510-17 Onalaska, WI	2.0	1.0	800	$1,085	$1.36	43d	1	0.33mi
843 Oak Ave N Unit 843-225 Onalaska, WI	2.0	2.0	975	$1,425	$1.46	43d	1	0.61mi
220 17th Ave N Onalaska, WI	1.0–2.0	1.0–1.5	1000	$1,250	$1.25	43d	3	1.13mi
1420 Green Bay St Unit 155 Onalaska, WI	1.0	1.0	700	$1,425	$2.04	43d	1	1.16mi

Listing history 29 events

1. 2026-06-19
   days on market $179,900 Active 62 DOM
2. 2026-06-18
   days on market $179,900 Active 61 DOM
3. 2026-06-17
   days on market $179,900 Active 60 DOM
4. 2026-06-16
   days on market $179,900 Active 59 DOM
5. 2026-06-15
   days on market $179,900 Active 58 DOM
6. 2026-06-14
   days on market $179,900 Active 56 DOM
7. 2026-06-13
   days on market $179,900 Active 55 DOM
8. 2026-06-10
   days on market $179,900 Active 53 DOM
9. 2026-06-09
   pricedays on market $179,900 Active 52 DOM
10. 2026-06-08
    days on market $194,900 Active 51 DOM
11. 2026-06-07
    days on market $194,900 Active 50 DOM
12. 2026-06-02
    days on market $194,900 Active 45 DOM
13. 2026-06-01
    days on market $194,900 Active 44 DOM
14. 2026-05-31
    days on market $194,900 Active 43 DOM
15. 2026-05-30
    days on market $194,900 Active 42 DOM
16. 2026-05-13
    price $1,650
17. 2026-04-29
    price $194,900 591-char remark

    Show marketing remark (591 chars)

    Welcome home to this beautifully updated gem located in the heart of Onalaska. Whether you're a first-time buyer or looking to downsize without sacrificing quality, this property delivers peace of mind with extensive recent upgrades and a location that can't be beat. New roof and windows in 2024, remodeled bathroom and flooring throughout the home, along with a fully fenced in backyard. Just minutes away from Onalaska's best parks, local dining, and the Great River Landing. Enjoy the quiet neighborhood feel while staying conveniently close to everything the Coulee Region has to offer.

18. 2026-04-20
    historical 591-char remark

    Show marketing remark (591 chars)

    Welcome home to this beautifully updated gem located in the heart of Onalaska. Whether you're a first-time buyer or looking to downsize without sacrificing quality, this property delivers peace of mind with extensive recent upgrades and a location that can't be beat. New roof and windows in 2024, remodeled bathroom and flooring throughout the home, along with a fully fenced in backyard. Just minutes away from Onalaska's best parks, local dining, and the Great River Landing. Enjoy the quiet neighborhood feel while staying conveniently close to everything the Coulee Region has to offer.

19. 2026-04-19
    status Active 591-char remark

    Show marketing remark (591 chars)

    Welcome home to this beautifully updated gem located in the heart of Onalaska. Whether you're a first-time buyer or looking to downsize without sacrificing quality, this property delivers peace of mind with extensive recent upgrades and a location that can't be beat. New roof and windows in 2024, remodeled bathroom and flooring throughout the home, along with a fully fenced in backyard. Just minutes away from Onalaska's best parks, local dining, and the Great River Landing. Enjoy the quiet neighborhood feel while staying conveniently close to everything the Coulee Region has to offer.

20. 2026-04-19
    historical 591-char remark

    Show marketing remark (591 chars)

    Welcome home to this beautifully updated gem located in the heart of Onalaska. Whether you're a first-time buyer or looking to downsize without sacrificing quality, this property delivers peace of mind with extensive recent upgrades and a location that can't be beat. New roof and windows in 2024, remodeled bathroom and flooring throughout the home, along with a fully fenced in backyard. Just minutes away from Onalaska's best parks, local dining, and the Great River Landing. Enjoy the quiet neighborhood feel while staying conveniently close to everything the Coulee Region has to offer.

21. 2026-04-18
    listed $199,900 Active 591-char remark

    Show marketing remark (591 chars)

    Welcome home to this beautifully updated gem located in the heart of Onalaska. Whether you're a first-time buyer or looking to downsize without sacrificing quality, this property delivers peace of mind with extensive recent upgrades and a location that can't be beat. New roof and windows in 2024, remodeled bathroom and flooring throughout the home, along with a fully fenced in backyard. Just minutes away from Onalaska's best parks, local dining, and the Great River Landing. Enjoy the quiet neighborhood feel while staying conveniently close to everything the Coulee Region has to offer.

22. 2026-04-16
    listed $1,800
23. 2026-04-05
    historical $1,800
24. 2026-03-26
    listed $1,800
25. 2026-03-04
    listed $199,900 Active 591-char remark

    Show marketing remark (591 chars)

    Welcome home to this beautifully updated gem located in the heart of Onalaska. Whether you're a first-time buyer or looking to downsize without sacrificing quality, this property delivers peace of mind with extensive recent upgrades and a location that can't be beat. New roof and windows in 2024, remodeled bathroom and flooring throughout the home, along with a fully fenced in backyard. Just minutes away from Onalaska's best parks, local dining, and the Great River Landing. Enjoy the quiet neighborhood feel while staying conveniently close to everything the Coulee Region has to offer.

26. 2023-10-26
    soldstatus $105,000
27. 2023-10-25
    soldstatus $105,000 Sold
28. 2023-09-18
    status Pending
29. 2023-09-10
    listed $89,900 Active

ⓘ 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: $1,412 · $118/mo
• Projected year-2 tax: $2,370 · $197/mo
• Expected delta: +$958/yr (+$80/mo · 67.9%)

ⓘ 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 ≥100°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: $15,486
• − Mortgage interest: −$10,077
• − Property taxes: −$1,412
• − Insurance: −$900
• − Repairs & maintenance: −$1,239
• − Management: −$1,239
• − Depreciation: −$5,233
• Taxable loss: −$4,613
• Est. tax savings @ 24.0%: +$1,107
• After-tax cash flow: $-291/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: Onalaska School District
• NCES district ID: 5511010
• Math proficiency: 39% ▼ -15.00%
• Reading proficiency: 41% ▼ -11.00%
• Median HH income: $55,177
• Composite: 34.99/100
• National rank: #5054
• State rank: #147 of 342 in WI

Livability — Onalaska

• Score: 73/100
• State rank: #214
• US rank: #5639

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Onalaska, WI
• County: La Crosse County · 89,439 people
• City population: 25,304
• Metro: La Crosse-Onalaska, WI-MN
• Population (ZIP): 25,304
• Household income: $85,548
• Rent vs Own: 32.0% rent · 68.0% own
• Severe rent burden: 484.0

Population outlook (La Crosse County) Hauer SSP2

• Today (2025): 126,082 people
• By 2030: 130,161 · +3.2%
• By 2040: 137,231 · +8.8%
• By 2050: 143,506 · +13.8%
• By 2075: 160,149 · +27.0%
• By 2100: 166,408 · +32.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Asian 4% Two or more races 4% Hispanic / Latino 2% Black 2%
• Common ancestry: Portuguese 15% Romanian 7% Lithuanian 3%
• Foreign-born: 3% · South Korea
• Languages at home: 93% English-only · Other Asian/Pacific 4% Spanish 2%

Political lean MEDSL · La Crosse

• 2024 margin: Lean D (+9.4) · D 54.0% · R 44.6% · Other 1.4%
• 2008→2024 swing: -14.1pp toward R · 2008: 23.4pp · 2024: 9.4pp
• All cycles: 2024: D+9.4 2020: D+13.5 2016: D+9.6 2012: D+17.3 2008: D+23.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -174.24%
• Current HPI: 198.2691
• Rent YoY: ▲ 4.66%
• Metro: La Crosse-Onalaska, WI-MN
• 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

-98.2% since first listed

14 events — show timeline

• 2026-05-13 Price Changed $1,650 APPFOLIO
• 2026-04-29 Price Changed $194,900 METROMLS
• 2026-04-20 Listing Removed — METROMLS
• 2026-04-19 Relisted — METROMLS
• 2026-04-19 Listing Removed — METROMLS
• 2026-04-18 Listed $199,900 METROMLS
• 2026-04-16 Listed for Rent $1,800 APPFOLIO
• 2026-04-05 Rental Removed $1,800 APPFOLIO
• 2026-03-26 Listed for Rent $1,800 APPFOLIO
• 2026-03-04 Listed $199,900 METROMLS
• 2023-10-26 Sold (Public Records) $105,000 Public Records
• 2023-10-25 Sold (MLS) $105,000 METROMLS
• 2023-09-18 Pending — METROMLS
• 2023-09-10 Listed $89,900 METROMLS

Property tax history

+2.8%/yr

Latest (2025): $1,412 · -37.3% YoY. Source: county tax records.