132 Lulu Avenue Ave E · Almena, WI 54805

$204,900

3 bd · 2.0 ba · 2,318 sqft · SingleFamily · 66 Days on market

Built 1920 0.34 ac lot $88/sqft · 26% below area Est $278k · 26% 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
• Appreciation +8.9/10.0
• Cash flow +6.7/30.0
• Livability +3.2/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.1/10.0
• DSCR +0.9/10.0

Listing remarks MLS

This charming Almena home blends durability with timeless appeal. Featuring a robust structure and a roof under 15 years old, this residence is built to last. Inside, you'll find well-kept original features complemented by oak wood, vinyl, and carpet flooring. The main floor offers a functional layout with Formica countertops, while the unfinished basement provides incredible potential, already featuring a second kitchen setup. Enjoy efficient radiant heat, public utilities, and the freedom of no HOA.

Key facts

• Carpet flooring
• Vinyl flooring
• Second kitchen setup

Tags

• OAK WOOD FLOORING
• VINYL FLOORING
• CARPET FLOORING
• FORMICA COUNTERTOPS
• UNFINISHED BASEMENT
• SECOND KITCHEN SETUP

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $205k.

Deal economics

• At list price, monthly cash flow is $-328 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $147k (28.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $125k (39.1% below list).
• Recommended offer: $125k (39.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 63/100 on livability (#601 in WI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A; Watch: crime C-, employment D, health & safety D.
• Barron Area School District (rural): math 30% / reading 33% proficiency, ranked #262 of 342 in WI (top 77%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Woodland Elementary (math 32% / reading 32%, grade F, #662 of 1,041 statewide, top 67%, 317 students, 64% FRL); Riverview Middle (math 28% / reading 31%, grade F, #261 of 383 statewide, top 73%, 317 students, 54% FRL); Barron High (math 17% / reading 32%, grade F, #287 of 483 statewide, top 71%, 316 students, 50% FRL).
• Market conditions: 6 active listings in the ZIP; 156 units permitted in Barron County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $17k of equity ($1k loan paydown + $16k appreciation (7.8% local appreciation)).
• Barron County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 3, paydown + projected appreciation supports a ~$44k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($193k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $144k; 42% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $124,725 (39.1% 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 66 days. Have you received any prior offers? Is the seller open to a 39% concession, seller financing, or rate buy-down credit?
3. Built in 1920 — 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 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?
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: 0.61% ✗
• Cap rate: 4.37%
• Cash-on-cash: -6.86%
• DSCR: 0.69
• GRM: 13.7

CMA / ARV

• ARV (median comp): $278,000
• List price: $204,900
• Delta: -26.29%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

7.85% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 14.5%
• Equity multiple: 2.07×
• Total profit: $61,470
• Equity at exit: $153,530

10-year hold

• IRR: 14.4%
• Equity multiple: 4.38×
• Total profit: $193,716
• Equity at exit: $302,738

Cash invested: $57,372 (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 54805

• Home prices YoY: 3.4%
• Active inventory: 6
• Price-to-rent: 13.7×

Monthly cashflow live

• Estimated rent: $1,247 medium
• Mortgage (P&I): −$1,075
• Tax from tax record: −$153 /mo · $1,840/yr
• Insurance: −$85
• HOA: −$0
• Vacancy / Maint / Mgmt: −$262
• Net cashflow: $-328

Break-even live

Break-even rent $1,662

Max offer price $146,980

Occupancy floor —

Sensitivity live

Price	-10% $-212	-5% $-270	+0% $-328	+5% $-386	+10% $-444
Rent	-10% $-426	-5% $-377	+0% $-328	+5% $-279	+10% $-229
Rate	-1.0pp $-225	-0.5pp $-276	base $-328	+0.5pp $-381	+1.0pp $-435

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: $51,225
• Closing costs: $6,147
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-21
   days on market $204,900 Active 66 DOM
2. 2026-06-21
   days on market $204,900 Active 65 DOM
3. 2026-06-18
   days on market $204,900 Active 63 DOM
4. 2026-06-17
   days on market $204,900 Active 62 DOM
5. 2026-06-16
   days on market $204,900 Active 61 DOM
6. 2026-06-15
   days on market $204,900 Active 60 DOM
7. 2026-06-15
   days on market $204,900 Active 59 DOM
8. 2026-06-13
   days on market $204,900 Active 58 DOM
9. 2026-06-12
   days on market $204,900 Active 57 DOM
10. 2026-06-09
    days on market $204,900 Active 54 DOM
11. 2026-06-08
    days on market $204,900 Active 53 DOM
12. 2026-06-08
    days on market $204,900 Active 52 DOM
13. 2026-06-07
    days on market $204,900 Active 51 DOM
14. 2026-06-03
    days on market $204,900 Active 48 DOM
15. 2026-06-02
    days on market $204,900 Active 47 DOM
16. 2026-06-01
    days on market $204,900 Active 46 DOM
17. 2026-05-31
    days on market $204,900 Active 45 DOM
18. 2026-05-13
    price $204,900 506-char remark

    Show marketing remark (506 chars)

    This charming Almena home blends durability with timeless appeal. Featuring a robust structure and a roof under 15 years old, this residence is built to last. Inside, you'll find well-kept original features complemented by oak wood, vinyl, and carpet flooring. The main floor offers a functional layout with Formica countertops, while the unfinished basement provides incredible potential, already featuring a second kitchen setup. Enjoy efficient radiant heat, public utilities, and the freedom of no HOA.

19. 2026-04-30
    price $215,000 506-char remark

    Show marketing remark (506 chars)

    This charming Almena home blends durability with timeless appeal. Featuring a robust structure and a roof under 15 years old, this residence is built to last. Inside, you'll find well-kept original features complemented by oak wood, vinyl, and carpet flooring. The main floor offers a functional layout with Formica countertops, while the unfinished basement provides incredible potential, already featuring a second kitchen setup. Enjoy efficient radiant heat, public utilities, and the freedom of no HOA.

20. 2026-04-16
    listed $224,900 Active 506-char remark

    Show marketing remark (506 chars)

    This charming Almena home blends durability with timeless appeal. Featuring a robust structure and a roof under 15 years old, this residence is built to last. Inside, you'll find well-kept original features complemented by oak wood, vinyl, and carpet flooring. The main floor offers a functional layout with Formica countertops, while the unfinished basement provides incredible potential, already featuring a second kitchen setup. Enjoy efficient radiant heat, public utilities, and the freedom of no HOA.

21. 2020-10-19
    soldstatus $144,100

ⓘ 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: $1,840 · $153/mo
• Projected year-2 tax: $2,815 · $235/mo
• Expected delta: +$975/yr (+$81/mo · 53.0%)

ⓘ 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 1/10 Low 7 d/yr ≥96°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,967
• − Mortgage interest: −$11,478
• − Property taxes: −$1,840
• − Insurance: −$1,024
• − Repairs & maintenance: −$1,197
• − Management: −$1,197
• − Depreciation: −$5,961
• Taxable loss: −$7,730
• Est. tax savings @ 24.0%: +$1,855
• After-tax cash flow: $-2,079/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: Barron Area School District
• NCES district ID: 5500870
• Math proficiency: 30% ▲ 3.00%
• Reading proficiency: 33% ▲ 2.00%
• Median HH income: $45,338
• Composite: 26.99/100
• National rank: #7069
• State rank: #262 of 342 in WI

Livability — Almena

• Score: 63/100
• State rank: #601
• US rank: #15542

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Almena, WI
• Population (ZIP): 1,662

Population outlook (Barron County) Hauer SSP2

• Today (2025): 44,046 people
• By 2030: 42,731 · -3.0%
• By 2040: 39,513 · -10.3%
• By 2050: 36,157 · -17.9%
• By 2075: 29,204 · -33.7%
• By 2100: 22,649 · -48.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Hispanic / Latino 5% Black 2% Two or more races 2%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Portuguese 12% Romanian 4% Italian 2%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 4%

Political lean MEDSL · Barron

• 2024 margin: Strong R (+29.1) · D 33.4% · R 62.5% · Other 4.1%
• 2008→2024 swing: -36.2pp toward R · 2008: 7.1pp · 2024: -29.1pp
• All cycles: 2024: R+29.1 2020: R+26.1 2016: R+25.4 2012: R+2.4 2008: D+7.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 7.85%
• Current HPI: 241.7737
• 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

+42.2% since first listed

4 events — show timeline

• 2026-05-13 Price Changed $204,900 METROMLS
• 2026-04-30 Price Changed $215,000 METROMLS
• 2026-04-16 Listed $224,900 METROMLS
• 2020-10-19 Sold (Public Records) $144,100 Public Records

Property tax history

+2.1%/yr

Latest (2025): $1,840 · +10.2% YoY. Source: county tax records.