107 N Polk St · Merrill, WI 54452

$149,900

2 bd · 1.5 ba · 1,450 sqft · Other · 9 Days on market

Built 1907 5,662 sqft lot

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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 +22.7/30.0
• ARV discount +7.5/15.0
• DSCR +7.3/10.0
• 1% rule +5.6/10.0
• Livability +3.8/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Open House Friday, June 19th from 4:00pm - 5:00pm. Whether you're searching for your first home, a low-maintenance place to settle in, or an investment opportunity, this 2-bedroom, 1.5-bath property delivers! Enjoy the convenience of an oversized attached 2-car garage that provides excellent room for vehicles, tools, and hobbies. Conveniently located across from Prairie River Middle School and just minutes from downtown Merrill, you'll appreciate being close to local amenities and community activities while still enjoying the comfort of a residential neighborhood. Freshly updated and full of charm, this inviting home is ready to welcome its next owners. With a fresh coat of paint throughou

Key facts

• Fresh coat of paint
• 3-season front porch
• Brand-new carpeting

Tags

• OVERSIZED ATTACHED GARAGE
• MINUTES FROM DOWNTOWN MERRILL
• FRESH COAT OF PAINT
• BRAND-NEW CARPETING
• 3-SEASON FRONT PORCH

Property features AI

Finance

• Other: Lot size about 0.13 acre (< 1/2 acre)

Exterior

• Parking: Attached 2-car garage
• Utilities: Municipal water; Municipal sewer; Natural gas
• Home design: 1.5-story single-family home; Residential zoning
• Construction: Shingle roof; Finished above-grade area approximately 1,450; Below-grade unfinished area approximately 570
• Exterior features: Porch; 3-season porch; Steel exterior

Interior

• Kitchen: Refrigerator; Range/Oven; Dishwasher; Microwave
• Bedrooms: Main level master bedroom (9 x 11); Upper level bedroom (14 x 14)
• Bathrooms: One full bath; One half bath; Master bedroom bath
• Heating & cooling: Forced air heating (natural gas); No cooling
• Interior features: Carpet; Ceiling fan(s); Smoke detector(s); Cable/satellite available; Walk-in closet(s)
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath other listed at $150k.

Deal economics

• At list price, monthly cash flow is $203 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Cap rate 8.4% vs local median 4.5% in Merrill — 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 76/100 on livability (#134 in WI, #3,510 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, amenities F, commute F.
• Merrill Area School District (town): math 38% / reading 39% proficiency, ranked #180 of 342 in WI (top 53%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Merrill High (math 27% / reading 32%, grade F, #228 of 483 statewide, top 52%, 803 students, 34% FRL) — zoned schools at 34% FRL track the district average.
• Market conditions: 73 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 192 units permitted in Lincoln County in 2024 (41 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 $4k of value loss. Plan a longer hold.
• Lincoln County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $126k; 19% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1907 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $149,900

Questions for the listing agent

1. Built in 1907 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.06% ✓
• Cap rate: 8.36%
• Cash-on-cash: 7.38%
• DSCR: 1.33
• GRM: 7.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -7.3%
• Equity multiple: 0.73×
• Total profit: $-11,350
• Equity at exit: $22,351

10-year hold

• IRR: 2.3%
• Equity multiple: 1.16×
• Total profit: $6,868
• Equity at exit: $12,961

Cash invested: $41,972 (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 54452

• Active inventory: 73
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,585 medium
• Mortgage (P&I): −$786
• Tax from tax record: −$145 /mo · $1,745/yr
• Insurance: −$62
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$333
• Net cashflow: $203

Break-even live

Break-even rent $1,328

Max offer price $149,900

Occupancy floor 82%

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1901 E 14th St Unit Fp Merrill, WI	3.0	2.0	1165	$1,585	$1.36	43d	1	1.43mi

Listing history 10 events

1. 2026-06-18
   price $149,900 Active 9 DOM
2. 2026-06-18
   days on market $159,900 Active 9 DOM
3. 2026-06-17
   days on market $159,900 Active 8 DOM
4. 2026-06-16
   days on market $159,900 Active 7 DOM
5. 2026-06-15
   days on market $159,900 Active 6 DOM
6. 2026-06-15
   days on market $159,900 Active 5 DOM
7. 2026-06-13
   days on market $159,900 Active 4 DOM
8. 2026-06-12
   days on market $159,900 Active 3 DOM
9. 2026-06-10
   remarks 699-char remark
10. 2026-06-10
    listed $159,900 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: $1,745 · $145/mo
• Projected year-2 tax: $2,259 · $188/mo
• Expected delta: +$514/yr (+$43/mo · 29.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 76% 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: $19,020
• − Mortgage interest: −$8,397
• − Property taxes: −$1,745
• − Insurance: −$1,416
• − Repairs & maintenance: −$1,522
• − Management: −$1,522
• − Depreciation: −$4,361
• Taxable income: $59
• Est. tax owed @ 24.0%: −$14
• After-tax cash flow: $2,418/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: Merrill Area School District
• NCES district ID: 5509210
• Math proficiency: 38% ▲ 1.00%
• Reading proficiency: 39% ▲ 4.00%
• Median HH income: $50,419
• Composite: 33.3/100
• National rank: #5507
• State rank: #180 of 342 in WI

Livability — Merrill

• Score: 76/100
• State rank: #134
• US rank: #3510

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Merrill, WI
• Population (ZIP): 18,949

Population outlook (Lincoln County) Hauer SSP2

• Today (2025): 26,476 people
• By 2030: 25,399 · -4.1%
• By 2040: 22,684 · -14.3%
• By 2050: 19,596 · -26.0%
• By 2075: 13,998 · -47.1%
• By 2100: 9,732 · -63.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Romanian 10% Portuguese 6% Iranian 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Lincoln

• 2024 margin: Strong R (+25.2) · D 36.7% · R 61.9% · Other 1.4%
• 2008→2024 swing: -37.6pp toward R · 2008: 12.5pp · 2024: -25.2pp
• All cycles: 2024: R+25.2 2020: R+22.8 2016: R+20.8 2012: D+0.7 2008: D+12.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -107.99%
• Current HPI: 192.6923
• 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

+155.8% since first listed

4 events — show timeline

• 2026-06-09 Listed $159,900 CWMLS
• 2025-06-24 Sold (Public Records) $126,000 Public Records
• 2008-02-13 Sold (Public Records) $68,900 Public Records
• 2005-10-25 Sold (Public Records) $62,500 Public Records

Property tax history

+4.6%/yr

Latest (2025): $1,745 · +9.5% YoY. Source: county tax records.