67745 W Spider Lake Rd · Iron River, WI 54847

$249,900

3 bd · 2.0 ba · 2,072 sqft · SingleFamily · 284 Days on market

Built 1999 7.56 ac lot $121/sqft · 19% below area Est $307k · 19% 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 +10.0/10.0
• Cash flow +4.5/30.0
• Schools +3.6/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.2/10.0
• DSCR +0.0/10.0

Key facts

• 7.56 acre lot
• 2 garage spots
• Built 1999

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $250k.

Deal economics

• At list price, monthly cash flow is $-643 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $136k (45.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $129k (48.2% below list).
• Recommended offer: $129k (48.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 65/100 on livability (#499 in WI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing B; Watch: employment C-, health & safety D, amenities F.
• Maple School District (rural): math 44% / reading 38% proficiency, ranked #136 of 342 in WI (top 40%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Iron River Elementary (math 24% / reading 24%, grade F, #783 of 1,041 statewide, top 79%, 102 students, 37% FRL); Northwestern Middle (math 47% / reading 38%, grade D-, #118 of 383 statewide, top 32%, 266 students, 31% FRL); Northwestern High (math 32% / reading 37%, grade F, #144 of 483 statewide, top 36%, 400 students, 28% FRL) — zoned schools at 32% FRL track the district average.
• Market conditions: 75 active listings in the ZIP; 106 units permitted in Bayfield County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $27k of equity ($2k loan paydown + $25k appreciation (10.0% local appreciation)).
• Bayfield County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 2, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 284 days — a 12% lower offer ($220k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 8y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Recommended offer $129,333 (48.2% 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 284 days. Have you received any prior offers? Is the seller open to a 48% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 0.52% ✗
• Cap rate: 3.21%
• Cash-on-cash: -11.02%
• DSCR: 0.51
• GRM: 16.1

CMA / ARV

• ARV (median comp): $306,813
• List price: $249,900
• Delta: -18.55%
• Verdict: UNDERPRICED
• Comps: 8 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8305 Half Moon Dr	0.68mi	4/2.0 (+1)	2,170 (+5%)	7mo	$320,000	$147	50

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 16.6%
• Equity multiple: 2.36×
• Total profit: $95,141
• Equity at exit: $225,130

10-year hold

• IRR: 15.8%
• Equity multiple: 5.46×
• Total profit: $312,333
• Equity at exit: $485,501

Cash invested: $69,972 (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 54847

• Home prices YoY: 7.1%
• Active inventory: 75
• Price-to-rent: 16.1×

Monthly cashflow live

• Estimated rent: $1,293 medium
• Mortgage (P&I): −$1,311
• Tax from tax record: −$250 /mo · $2,999/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$272
• Net cashflow: $-643

Break-even live

Break-even rent $2,107

Max offer price $136,340

Occupancy floor —

Sensitivity live

Price	-10% $-501	-5% $-572	+0% $-643	+5% $-714	+10% $-784
Rent	-10% $-745	-5% $-694	+0% $-643	+5% $-592	+10% $-541
Rate	-1.0pp $-517	-0.5pp $-579	base $-643	+0.5pp $-708	+1.0pp $-773

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: $62,475
• Closing costs: $7,497
• Reserves months: —
• Total cash needed: —

Listing history 49 events

1. 2026-06-21
   days on market $249,900 Active 284 DOM
2. 2026-06-21
   days on market $249,900 Active 283 DOM
3. 2026-06-18
   days on market $249,900 Active 281 DOM
4. 2026-06-17
   days on market $249,900 Active 280 DOM
5. 2026-06-16
   days on market $249,900 Active 279 DOM
6. 2026-06-15
   days on market $249,900 Active 278 DOM
7. 2026-06-15
   days on market $249,900 Active 277 DOM
8. 2026-06-13
   days on market $249,900 Active 276 DOM
9. 2026-06-12
   days on market $249,900 Active 275 DOM
10. 2026-06-09
    days on market $249,900 Active 272 DOM
11. 2026-06-08
    days on market $249,900 Active 271 DOM
12. 2026-06-08
    days on market $249,900 Active 270 DOM
13. 2026-06-07
    days on market $249,900 Active 269 DOM
14. 2026-06-03
    days on market $249,900 Active 266 DOM
15. 2026-06-02
    days on market $249,900 Active 265 DOM
16. 2026-06-01
    days on market $249,900 Active 264 DOM
17. 2026-05-31
    days on market $249,900 Active 263 DOM
18. 2026-02-17
    status Pending
19. 2026-02-17
    status Pending
20. 2026-02-17
    soldstatus $236,600
21. 2026-02-16
    soldstatus $236,600 Sold
22. 2026-02-16
    soldstatus $236,600 Sold
23. 2026-02-16
    soldstatus $236,600 Sold
24. 2026-02-16
    soldstatus $236,600 Closed
25. 2026-01-09
    historical Contingent - Without Bump Clause - WI Only
26. 2026-01-09
    historical Contingent
27. 2026-01-09
    historical Contingent
28. 2025-12-10
    status Active
29. 2025-12-10
    status Active
30. 2025-12-10
    status Active
31. 2025-10-20
    historical Contingent
32. 2025-10-20
    historical Contingent
33. 2025-10-20
    historical Contingent - Without Bump Clause - WI Only
34. 2025-09-10
    listed $249,900 Active
35. 2025-09-10
    listed $249,900 Active
36. 2025-09-10
    listed $249,900 Active
37. 2025-09-10
    listed $249,900 Active
38. 2025-09-10
    listed $249,900 Active
39. 2019-02-04
    soldstatus $100,000
40. 2019-02-01
    soldstatus $100,000 Sold
41. 2019-02-01
    soldstatus $100,000
42. 2019-01-24
    status Pending
43. 2019-01-15
    historical Contingent - Other
44. 2018-10-09
    status Active
45. 2018-10-03
    status Pending
46. 2018-07-24
    historical Contingent - Other
47. 2018-07-16
    listed $115,900 Active
48. 2018-07-16
    listed $115,900
49. 2002-09-13
    soldstatus $12,000

ⓘ 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: $2,999 · $250/mo
• Projected year-2 tax: $3,811 · $318/mo
• Expected delta: +$812/yr (+$68/mo · 27.1%)

ⓘ 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 1/10 Low 7 d/yr ≥93°F today · 13 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,520
• − Mortgage interest: −$13,998
• − Property taxes: −$2,999
• − Insurance: −$1,250
• − Repairs & maintenance: −$1,242
• − Management: −$1,242
• − Depreciation: −$7,270
• Taxable loss: −$12,480
• Est. tax savings @ 24.0%: +$2,995
• After-tax cash flow: $-4,719/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: Maple School District
• NCES district ID: 5508640
• Math proficiency: 44% ▼ -11.00%
• Reading proficiency: 38% ▼ -6.00%
• Median HH income: $53,944
• Composite: 35.73/100
• National rank: #4858
• State rank: #136 of 342 in WI

Livability — Iron River

• Score: 65/100
• State rank: #499
• US rank: #12715

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Iron River, WI
• City population: 2,454
• Population (ZIP): 2,454

Population outlook (Bayfield County) Hauer SSP2

• Today (2025): 14,698 people
• By 2030: 14,481 · -1.5%
• By 2040: 13,709 · -6.7%
• By 2050: 12,777 · -13.1%
• By 2075: 11,550 · -21.4%
• By 2100: 9,908 · -32.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 4% Hispanic / Latino 2% Native American 2%
• Common ancestry: Portuguese 9% Romanian 6% Lithuanian 4%
• Foreign-born: 1%
• Languages at home: 99% English-only · French/Haitian/Cajun 1%

Political lean MEDSL · Bayfield

• 2024 margin: D (+11.1) · D 54.5% · R 43.4% · Other 2.1%
• 2008→2024 swing: -16.4pp toward R · 2008: 27.5pp · 2024: 11.1pp
• All cycles: 2024: D+11.1 2020: D+14.1 2016: D+8.7 2012: D+24.9 2008: D+27.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 13.99%
• Current HPI: 209.9555
• 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

+1871.7% since first listed

32 events — show timeline

• 2026-02-17 Pending — WWRA
• 2026-02-17 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-02-17 Sold (Public Records) $236,600 Public Records
• 2026-02-16 Sold (MLS) $236,600 LSAR
• 2026-02-16 Sold (MLS) $236,600 SAAR
• 2026-02-16 Sold (MLS) $236,600 NORTHSTARMLS as Distributed by MLS Grid
• 2026-02-16 Sold (MLS) $236,600 WWRA
• 2026-01-09 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-01-09 Contingent — WWRA
• 2026-01-09 Contingent — SAAR
• 2025-12-10 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2025-12-10 Relisted — WWRA
• 2025-12-10 Relisted — SAAR
• 2025-10-20 Contingent — WWRA
• 2025-10-20 Contingent — SAAR
• 2025-10-20 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2025-09-10 Listed $249,900 RANWW
• 2025-09-10 Listed $249,900 LSAR
• 2025-09-10 Listed $249,900 SAAR
• 2025-09-10 Listed $249,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-09-10 Listed $249,900 WWRA
• 2019-02-04 Sold (Public Records) $100,000 Public Records
• 2019-02-01 Sold (MLS) $100,000 LSAR
• 2019-02-01 Sold (MLS) $100,000 NORTHSTARMLS as Distributed by MLS Grid
• 2019-01-24 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2019-01-15 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2018-10-09 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2018-10-03 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2018-07-24 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2018-07-16 Listed $115,900 LSAR
• 2018-07-16 Listed $115,900 NORTHSTARMLS as Distributed by MLS Grid
• 2002-09-13 Sold (Public Records) $12,000 Public Records

Property tax history

+1.8%/yr

Latest (2024): $2,999 · +11.1% YoY. Source: county tax records.