1932 Prairie St · Stevens Point, WI 54481

$180,000

2 bd · 1.0 ba · 944 sqft · Other · 3 Days on market

Built 1900 6,969 sqft lot

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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).

• Cash flow +13.0/30.0
• ARV discount +7.5/15.0
• Livability +4.2/5.0
• 1% rule +3.9/10.0
• DSCR +3.9/10.0
• Rent growth +3.4/5.0
• Schools +3.2/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this adorable home on Prairie Street! This two bedroom, one bathroom home is a perfect starter home or investment property! When you step in through the front door, you can feel how well loved this home is! You're immediately greeted with a spacious dining room that flows seamlessly into your kitchen! With the kitchen counter wrapping through the dining room and into the kitchen, you'll have plenty of room for those countertop appliances! Bedroom #1 is off the dining room and provides plenty of space for you or your guests! The living room is ideally set up for rest and relaxation with PLENTLY of natural sunlight pouring in! The primary bedroom is generously sized and looks out

Key facts

• Large deck
• Spacious dining room
• Sunken-in hot tub

Tags

• SPACIOUS DINING ROOM
• LARGE FENCED-IN BACKYARD
• LARGE DECK
• SUNKEN-IN HOT TUB

Property features AI

Exterior

• Parking: Detached 1-car garage with opener
• Utilities: Municipal water; Municipal sewer; Natural gas
• Home design: Single-family home; One story
• Construction: Shingle roof; Built on slab / crawl space foundation
• Exterior features: Vinyl exterior; Hot tub; Deck; Fenced yard

Interior

• Kitchen: Refrigerator; Range/Oven; Microwave
• Bedrooms: Primary bedroom on the main level (15 x 12); Second bedroom on the main level (12 x 8)
• Flooring: Carpet; Tile
• Bathrooms: One full bathroom
• Heating & cooling: Hot water heating; Window/Wall air conditioning; Natural gas heat
• Interior features: Carpet and tile floors; Ceiling fan(s); Smoke detector(s)
• Laundry & utility: Washer; Dryer; Hot water heating (natural gas)

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 $-10 ($-115/yr) — negative.
• To cash-flow at today's rent, offer at most $178k (0.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $159k (11.4% below list).
• Recommended offer: $159k (11.4% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 2.6% in Stevens Point — 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 85/100 on livability (#27 in WI, #490 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, cost of living A+; Watch: employment D+.
• Stevens Point Area Public School District (town): math 36% / reading 38% proficiency, ranked #203 of 342 in WI (top 59%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Stevens Point Area Senior High (math 31% / reading 31%, grade F, #204 of 483 statewide, top 43%, 1,462 students, 32% FRL) — zoned schools at 32% FRL track the district average.
• Market conditions: Rents rising (+3.6%/yr); 70 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 255 units permitted in Portage County in 2024 (115 in 5+ unit buildings).
• This rent runs 32% of the median local income ($60k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $159,459 (11.4% 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. Built in 1900 — 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. 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?
5. 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.
6. 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.
7. 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: 0.89% ✗
• Cap rate: 6.23%
• Cash-on-cash: -0.23%
• DSCR: 0.99
• GRM: 9.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.64% rent growth · sell at horizon

5-year hold

• IRR: -15.9%
• Equity multiple: 0.43×
• Total profit: $-28,706
• Equity at exit: $26,839

10-year hold

• IRR: -6.4%
• Equity multiple: 0.58×
• Total profit: $-21,327
• Equity at exit: $15,563

Cash invested: $50,400 (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 54481

• Rents YoY: 3.6%
• Active inventory: 70
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,595 medium
• Mortgage (P&I): −$944
• Tax from tax record: −$250 /mo · $3,005/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$335
• Net cashflow: $-10

Break-even live

Break-even rent $1,607

Max offer price $178,304

Occupancy floor 96%

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1020 Centerpoint Dr Stevens Point, WI	2.0	1.0–2.0	666	$1,975	$2.97	43d	59	0.75mi
209 Division St Stevens Point, WI	2.0	1.0–2.0	880	$1,799	$2.04	43d	3	1.28mi

Listing history 4 events

1. 2026-06-19
   days on market $180,000 Active 3 DOM
2. 2026-06-18
   days on market $180,000 Active 2 DOM
3. 2026-06-17
   remarks 699-char remark
4. 2026-06-17
   listed $180,000 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: $3,005 · $250/mo
• Projected year-2 tax: $3,167 · $264/mo
• Expected delta: +$163/yr (+$14/mo · 5.4%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥97°F today · 13 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,135
• − Mortgage interest: −$10,083
• − Property taxes: −$3,005
• − Insurance: −$900
• − Repairs & maintenance: −$1,531
• − Management: −$1,531
• − Depreciation: −$5,236
• Taxable loss: −$3,150
• Est. tax savings @ 24.0%: +$756
• After-tax cash flow: $641/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: Stevens Point Area Public School District
• NCES district ID: 5514490
• Math proficiency: 36% ▼ -8.00%
• Reading proficiency: 38% ▼ -6.00%
• Median HH income: $50,284
• Composite: 32.03/100
• National rank: #5825
• State rank: #203 of 342 in WI

Livability — Stevens Point

• Score: 85/100
• State rank: #27
• US rank: #490

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Stevens Point, WI
• County: Portage County · 43,112 people
• City population: 28,242
• Metro: Stevens Point, WI
• Population (ZIP): 28,242
• Household income: $59,545
• Rent vs Own: 42.6% rent · 57.4% own
• Severe rent burden: 945.0

Population outlook (Portage County) Hauer SSP2

• Today (2025): 71,902 people
• By 2030: 72,387 · +0.7%
• By 2040: 72,081 · +0.2%
• By 2050: 70,729 · -1.6%
• By 2075: 68,457 · -4.8%
• By 2100: 65,574 · -8.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Two or more races 5% Hispanic / Latino 4% Asian 4% Black 2%
• Common ancestry: Romanian 24% Portuguese 6% Lithuanian 3%
• Foreign-born: 3% · Canada, China
• Languages at home: 96% English-only · Other Asian/Pacific 2% Spanish 1%

Political lean MEDSL · Portage

• 2024 margin: Toss-up / Even · D 49.8% · R 48.6% · Other 1.6%
• 2008→2024 swing: -26.7pp toward R · 2008: 27.9pp · 2024: 1.2pp
• All cycles: 2024: D+1.2 2020: D+2.8 2016: D+3.2 2012: D+13.9 2008: D+27.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -181.29%
• Current HPI: 237.4151
• Rent YoY: ▲ 3.64%
• Metro: Stevens Point, 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

+120.9% since first listed

4 events — show timeline

• 2026-06-16 Listed $180,000 CWMLS
• 2025-02-14 Sold (Public Records) $161,000 Public Records
• 2016-07-27 Sold (Public Records) $89,500 Public Records
• 2006-08-29 Sold (Public Records) $81,500 Public Records

Property tax history

+5.3%/yr

Latest (2025): $3,005 · +10.7% YoY. Source: county tax records.