605 S 3rd Ave · Wausau, WI 54401

$71,800

3 bd · 1.0 ba · 1,268 sqft · SingleFamily public records · 49 Days on market

Built 1885 7,405 sqft lot $57/sqft · 52% below area

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +5.0/5.0
• Livability +4.5/5.0
• Schools +3.0/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This charming 1885-built residence at 605 S 3rd Ave offers a unique blend of historic character and modern potential, featuring a functional 1,268-square-foot layout with three bedrooms and one full bathroom. Wrapped in durable vinyl siding and topped with a classic shingle roof, this two-story home sits on a generous 7,405-square-foot lot that provides ample space for outdoor activities and gardening. Its prime location near the Wisconsin River puts you minutes away from downtown Wausau's vibrant shopping and dining, while the private paved parking adds a layer of convenience to this versatile property.

Key facts

• Modern potential
• Historic character
• Vinyl siding

Tags

• HISTORIC CHARACTER
• MODERN POTENTIAL
• VINYL SIDING
• SHINGLE ROOF
• PRIVATE PAVED PARKING

Property features AI

Finance

• Other: Zoning: B1

Exterior

• Parking: Detached 2-car garage; Two garage parking spaces
• Utilities: Municipal water; Municipal sewer
• Home design: Two-story single-family home; Assessor/public record year built
• Construction: Wood construction
• Exterior features: Wood exterior; Lot less than 1/2 acre

Interior

• Kitchen: Kitchen on main level (11 x 8); Cooktop; Refrigerator
• Bedrooms: Master bedroom on upper level (12 x 12); Second bedroom on upper level (11 x 12); Third bedroom on upper level (9 x 12)
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Forced air heating; Natural gas heating
• Interior features: Full basement; Living room on main level (13 x 17)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $72k.

Deal economics

• At list price, monthly cash flow is $428 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $72k).
• Recommended offer: $70k (3.0% below list) — sets the bar for market timing.
• Cap rate 13.5% vs local median 3.3% in Wausau — 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 91/100 on livability (#4 in WI, #55 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: schools C-, employment D.
• Wausau School District (urban): math 33% / reading 36% proficiency, ranked #235 of 342 in WI (top 69%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+10.2%/yr); 66 active listings in the ZIP; 16 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; 298 units permitted in Marathon County in 2024 (81 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $496 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Marathon County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $20k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $27k; list at $72k implies a 166% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1885 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $69,646 (3.0% below list)

Questions for the listing agent

1. It's been on market 49 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 1885 — 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: 1.71% ✓
• Cap rate: 13.45%
• Cash-on-cash: 25.57%
• DSCR: 2.14
• GRM: 4.9

CMA / ARV

• ARV (median comp): $150,493
• List price: $71,800
• Delta: -52.29%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1015 S 7th Ave	0.58mi	3/1.0	1,282 (+1%)	0mo	$146,000	$114	71
411 West St	0.26mi	3/1.0	1,400 (+10%)	2mo	$172,000	$123	69
306 S 11th Ave	0.55mi	3/2.0	1,252 (-1%)	2mo	$216,000	$173	66
311 S 10th Ave	0.46mi	4/1.0 (+1)	1,188 (-6%)	2mo	$160,000	$135	61
115 N 2nd Ave	0.44mi	3/1.5	1,395 (+10%)	3mo	$185,500	$133	58
309 N 2nd Ave	0.63mi	2/2.0 (-1)	1,250 (-1%)	2mo	$190,000	$152	57
836 S 9th Ave	0.51mi	2/1.5 (-1)	1,176 (-7%)	7mo	$171,000	$145	52
902 Elm St	0.53mi	3/1.5	1,430 (+13%)	1mo	$115,000	$80	51
1002 Maple St	0.64mi	3/1.5	1,424 (+12%)	0mo	$270,000	$190	47
306 S 10th Ave	0.50mi	2/2.0 (-1)	1,144 (-10%)	6mo	$209,900	$183	46
1121 S 5th Ave	0.68mi	3/1.0	1,126 (-11%)	8mo	$125,000	$111	42
1111 S 7th Ave	0.68mi	2/1.0 (-1)	1,084 (-14%)	7mo	$180,000	$166	33

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 25.0%
• Equity multiple: 2.10×
• Total profit: $22,201
• Equity at exit: $10,706

10-year hold

• IRR: 35.9%
• Equity multiple: 5.19×
• Total profit: $84,266
• Equity at exit: $6,208

Cash invested: $20,104 (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 54401

• Home prices YoY: -32.2%
• Rents YoY: 10.2%
• Active inventory: 66
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,231 high
• Mortgage (P&I): −$377
• Tax from tax record: −$138 /mo · $1,652/yr
• Insurance: −$30
• HOA: −$0
• Vacancy / Maint / Mgmt: −$259
• Net cashflow: $428

Break-even live

Break-even rent $689

Max offer price $71,800

Occupancy floor 60%

Sensitivity live

Price	-10% $469	-5% $449	+0% $428	+5% $408	+10% $388
Rent	-10% $331	-5% $380	+0% $428	+5% $477	+10% $526
Rate	-1.0pp $465	-0.5pp $447	base $428	+0.5pp $410	+1.0pp $391

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: $17,950
• Closing costs: $2,154
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
637 S 3rd Ave Unit Upper Wausau, WI	3.0	1.0	1000	$1,095	$1.09	44d	1	0.08mi
733 S 6th Ave Wausau, WI	3.0	1.0	1000	$995	$0.99	44d	1	0.30mi
516 W Thomas St Unit 518 Wausau, WI	2.0	1.0	1157	$1,350	$1.17	44d	1	0.61mi
1105 Cedar St Wausau, WI	3.0	1.0	954	$1,550	$1.62	44d	1	0.84mi
517 N 2nd Ave Wausau, WI	3.0	1.0	1458	$1,445	$0.99	44d	1	0.87mi
714 Jackson St Unit 2 Wausau, WI	2.0	1.0	900	$725	$0.81	44d	1	0.90mi
1520 Elm St Wausau, WI	3.0	1.0–2.0	1250	$3,399	$2.72	44d	3	0.90mi
516 Hamilton St Wausau, WI	3.0	1.0	1166	$1,595	$1.37	44d	1	0.98mi
914 Grand Ave Apt 10 Wausau, WI	2.0	1.5	1100	$1,650	$1.50	44d	1	0.99mi
920 Grand Ave Wausau, WI	2.0	1.5	1100	$1,300	$1.18	44d	1	1.00mi
519 Steuben St Wausau, WI	2.0	1.0	650	$850	$1.31	44d	2	1.01mi
1016 Grand Ave Wausau, WI	2.0	1.0	900	$1,300	$1.44	44d	2	1.05mi
708 Fulton St Wausau, WI	2.0	1.0	1020	$1,165	$1.14	44d	1	1.12mi
515 W Union Ave Wausau, WI	3.0	1.0	1556	$1,550	$1.00	44d	1	1.23mi
714 Chicago Ave Unit 714 Wausau, WI	3.0	1.0	900	$1,195	$1.33	44d	1	1.30mi
807 Lincoln Ave Wausau, WI	4.0	1.0	1674	$1,500	$0.90	44d	1	1.43mi

Listing history 17 events

1. 2026-06-19
   days on market $71,800 Active 49 DOM
2. 2026-06-18
   days on market $71,800 Active 48 DOM
3. 2026-06-17
   days on market $71,800 Active 47 DOM
4. 2026-06-16
   days on market $71,800 Active 46 DOM
5. 2026-06-15
   days on market $71,800 Active 45 DOM
6. 2026-06-14
   days on market $71,800 Active 43 DOM
7. 2026-06-13
   pricedays on market $71,800 Active 42 DOM
8. 2026-06-10
   days on market $78,000 Active 40 DOM
9. 2026-06-09
   days on market $78,000 Active 39 DOM
10. 2026-06-08
    days on market $78,000 Active 38 DOM
11. 2026-06-07
    days on market $78,000 Active 37 DOM
12. 2026-06-02
    days on market $78,000 Active 32 DOM
13. 2026-06-01
    days on market $78,000 Active 31 DOM
14. 2026-05-31
    days on market $78,000 Active 30 DOM
15. 2026-05-30
    days on market $78,000 Active 29 DOM
16. 2026-04-28
    listed $78,000 Active 611-char remark
17. 1979-01-01
    soldstatus $27,000

ⓘ 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: $1,652 · $138/mo
• Projected year-2 tax: $1,652 · $138/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 1/10 Low 7 d/yr ≥95°F today · 12 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: $14,772
• − Mortgage interest: −$4,022
• − Property taxes: −$1,652
• − Insurance: −$359
• − Repairs & maintenance: −$1,182
• − Management: −$1,182
• − Depreciation: −$2,089
• Taxable income: $4,286
• Est. tax owed @ 24.0%: −$1,029
• After-tax cash flow: $4,111/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: Wausau School District
• NCES district ID: 5515900
• Math proficiency: 33% ▼ -9.00%
• Reading proficiency: 36% ▼ -7.00%
• Median HH income: $47,238
• Composite: 29.66/100
• National rank: #6466
• State rank: #235 of 342 in WI

Livability — Wausau

• Score: 91/100
• State rank: #4
• US rank: #55

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wausau, WI
• County: Marathon County · 76,019 people
• City population: 56,642
• Metro: Wausau-Weston, WI
• Population (ZIP): 31,692
• Household income: $71,586
• Rent vs Own: 33.0% rent · 67.0% own
• Severe rent burden: 665.0

Population outlook (Marathon County) Hauer SSP2

• Today (2025): 138,030 people
• By 2030: 138,087 · +0.0%
• By 2040: 135,688 · -1.7%
• By 2050: 129,390 · -6.3%
• By 2075: 110,912 · -19.6%
• By 2100: 85,136 · -38.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Asian 12% Two or more races 5% Hispanic / Latino 5%
• Common ancestry: Romanian 12% Lithuanian 4% Portuguese 4%
• Foreign-born: 7% · Canada
• Languages at home: 86% English-only · Other Asian/Pacific 9% Spanish 3% Other Indo-European 1%

Political lean MEDSL · Marathon

• 2024 margin: R (+18.7) · D 40.1% · R 58.7% · Other 1.2%
• 2008→2024 swing: -27.5pp toward R · 2008: 8.9pp · 2024: -18.7pp
• All cycles: 2024: R+18.7 2020: R+18.0 2016: R+18.2 2012: R+6.1 2008: D+8.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -99.85%
• Current HPI: 210.5242
• Rent YoY: ▲ 10.15%
• Metro: Wausau-Weston, WI
• 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

+165.9% since first listed

3 events — show timeline

• 2026-06-10 Price Changed $71,800 METROMLS
• 2026-04-28 Listed $78,000 METROMLS
• 1979-01-01 Sold (Public Records) $27,000 Public Records

Property tax history

+2.0%/yr

Latest (2025): $1,652 · +23.1% YoY. Source: county tax records.