230 S Main St · Elmwood, WI 54740

$142,000

5 bd · 1.5 ba · 2,569 sqft · Other · 124 Days on market

Built 1909 6,969 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 +21.7/30.0
• ARV discount +7.5/15.0
• DSCR +6.9/10.0
• 1% rule +6.4/10.0
• Schools +3.9/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Step into timeless charm with this spacious 5-bedroom, 1.5-bath home filled with beautiful architectural details. Warm and inviting, the home features two wood-burning fireplaces, hardwood floors, elegant curved arches, and an open wood staircase that serves as a striking focal point. The library offers built-in, glass-front bookcases?perfect for readers or a stylish home office. Enjoy the convenience of main-floor laundry and classic 6-panel doors throughout the home. An open front porch provides a welcoming outdoor space, while the carriage-style 2-car garage adds both function and historic appeal. This home blends character, craftsmanship, and comfort?ideal for anyone seeking a truly unique property. Some TLC needed.

Key facts

• Open wood staircase
• Built in bookcases
• Main floor laundry

Tags

• WOOD BURNING FIREPLACES
• HARDWOOD FLOORS
• CURVED ARCHES
• OPEN WOOD STAIRCASE
• BUILT IN BOOKCASES
• MAIN FLOOR LAUNDRY

What this means for you Summary

Snapshot

• This is a 5-bed/1.5-bath other listed at $142k.

Deal economics

• At list price, monthly cash flow is $219 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $142k).
• Recommended offer: $125k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 68/100 on livability (#383 in WI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, schools B; Watch: employment C-, amenities F, commute F.
• Elmwood School District (rural): math 40% / reading 45% proficiency, ranked #210 of 426 in WI (top 49%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 5 active listings in the ZIP; 191 units permitted in Pierce County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $982 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Pierce County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 124 days — a 12% lower offer ($125k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 16y ago; this cycle's ask has dropped $38k (21%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $98k; 45% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1909 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $124,960 (12.0% below list)

Questions for the listing agent

1. It's been on market 124 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1909 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 1.14% ✓
• Cap rate: 8.15%
• Cash-on-cash: 6.62%
• DSCR: 1.29
• GRM: 7.3

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: -6.1%
• Equity multiple: 0.77×
• Total profit: $-8,969
• Equity at exit: $21,173

10-year hold

• IRR: 3.6%
• Equity multiple: 1.26×
• Total profit: $10,464
• Equity at exit: $12,278

Cash invested: $39,760 (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 54740

• Home prices YoY: -11.2%
• Active inventory: 5
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,614 medium
• Mortgage (P&I): −$745
• Tax from tax record: −$252 /mo · $3,019/yr
• Insurance: −$59
• HOA: −$0
• Vacancy / Maint / Mgmt: −$339
• Net cashflow: $219

Break-even live

Break-even rent $1,336

Max offer price $142,000

Occupancy floor 81%

Sensitivity live

Price	-10% $300	-5% $260	+0% $219	+5% $179	+10% $139
Rent	-10% $92	-5% $156	+0% $219	+5% $283	+10% $347
Rate	-1.0pp $291	-0.5pp $255	base $219	+0.5pp $183	+1.0pp $145

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: $35,500
• Closing costs: $4,260
• Reserves months: —
• Total cash needed: —

Listing history 29 events

1. 2026-06-21
   days on market $142,000 Active 124 DOM
2. 2026-06-19
   days on market $142,000 Active 122 DOM
3. 2026-06-18
   days on market $142,000 Active 121 DOM
4. 2026-06-17
   days on market $142,000 Active 120 DOM
5. 2026-06-16
   days on market $142,000 Active 119 DOM
6. 2026-06-15
   days on market $142,000 Active 118 DOM
7. 2026-06-14
   days on market $142,000 Active 116 DOM
8. 2026-06-12
   days on market $142,000 Active 115 DOM
9. 2026-06-09
   days on market $142,000 Active 112 DOM
10. 2026-06-08
    days on market $142,000 Active 111 DOM
11. 2026-06-07
    days on market $142,000 Active 110 DOM
12. 2026-06-05
    days on market $142,000 Active 108 DOM
13. 2026-06-02
    days on market $142,000 Active 105 DOM
14. 2026-06-01
    days on market $142,000 Active 104 DOM
15. 2026-05-31
    days on market $142,000 Active 103 DOM
16. 2026-05-30
    days on market $142,000 Active 102 DOM
17. 2026-05-19
    status Active 729-char remark

    Show marketing remark (729 chars)

    Step into timeless charm with this spacious 5-bedroom, 1.5-bath home filled with beautiful architectural details. Warm and inviting, the home features two wood-burning fireplaces, hardwood floors, elegant curved arches, and an open wood staircase that serves as a striking focal point. The library offers built-in, glass-front bookcases?perfect for readers or a stylish home office. Enjoy the convenience of main-floor laundry and classic 6-panel doors throughout the home. An open front porch provides a welcoming outdoor space, while the carriage-style 2-car garage adds both function and historic appeal. This home blends character, craftsmanship, and comfort?ideal for anyone seeking a truly unique property. Some TLC needed.

18. 2026-05-08
    status Pending 729-char remark

    Show marketing remark (729 chars)

    Step into timeless charm with this spacious 5-bedroom, 1.5-bath home filled with beautiful architectural details. Warm and inviting, the home features two wood-burning fireplaces, hardwood floors, elegant curved arches, and an open wood staircase that serves as a striking focal point. The library offers built-in, glass-front bookcases?perfect for readers or a stylish home office. Enjoy the convenience of main-floor laundry and classic 6-panel doors throughout the home. An open front porch provides a welcoming outdoor space, while the carriage-style 2-car garage adds both function and historic appeal. This home blends character, craftsmanship, and comfort?ideal for anyone seeking a truly unique property. Some TLC needed.

19. 2026-05-07
    historical Contingent 729-char remark

    Show marketing remark (729 chars)

    Step into timeless charm with this spacious 5-bedroom, 1.5-bath home filled with beautiful architectural details. Warm and inviting, the home features two wood-burning fireplaces, hardwood floors, elegant curved arches, and an open wood staircase that serves as a striking focal point. The library offers built-in, glass-front bookcases?perfect for readers or a stylish home office. Enjoy the convenience of main-floor laundry and classic 6-panel doors throughout the home. An open front porch provides a welcoming outdoor space, while the carriage-style 2-car garage adds both function and historic appeal. This home blends character, craftsmanship, and comfort?ideal for anyone seeking a truly unique property. Some TLC needed.

20. 2026-04-06
    price $159,000 729-char remark

    Show marketing remark (729 chars)

    Step into timeless charm with this spacious 5-bedroom, 1.5-bath home filled with beautiful architectural details. Warm and inviting, the home features two wood-burning fireplaces, hardwood floors, elegant curved arches, and an open wood staircase that serves as a striking focal point. The library offers built-in, glass-front bookcases?perfect for readers or a stylish home office. Enjoy the convenience of main-floor laundry and classic 6-panel doors throughout the home. An open front porch provides a welcoming outdoor space, while the carriage-style 2-car garage adds both function and historic appeal. This home blends character, craftsmanship, and comfort?ideal for anyone seeking a truly unique property. Some TLC needed.

21. 2026-04-06
    status Active 729-char remark

    Show marketing remark (729 chars)

    Step into timeless charm with this spacious 5-bedroom, 1.5-bath home filled with beautiful architectural details. Warm and inviting, the home features two wood-burning fireplaces, hardwood floors, elegant curved arches, and an open wood staircase that serves as a striking focal point. The library offers built-in, glass-front bookcases?perfect for readers or a stylish home office. Enjoy the convenience of main-floor laundry and classic 6-panel doors throughout the home. An open front porch provides a welcoming outdoor space, while the carriage-style 2-car garage adds both function and historic appeal. This home blends character, craftsmanship, and comfort?ideal for anyone seeking a truly unique property. Some TLC needed.

22. 2026-02-09
    status Pending 729-char remark

    Show marketing remark (729 chars)

    Step into timeless charm with this spacious 5-bedroom, 1.5-bath home filled with beautiful architectural details. Warm and inviting, the home features two wood-burning fireplaces, hardwood floors, elegant curved arches, and an open wood staircase that serves as a striking focal point. The library offers built-in, glass-front bookcases?perfect for readers or a stylish home office. Enjoy the convenience of main-floor laundry and classic 6-panel doors throughout the home. An open front porch provides a welcoming outdoor space, while the carriage-style 2-car garage adds both function and historic appeal. This home blends character, craftsmanship, and comfort?ideal for anyone seeking a truly unique property. Some TLC needed.

23. 2026-02-09
    historical 729-char remark

    Show marketing remark (729 chars)

    Step into timeless charm with this spacious 5-bedroom, 1.5-bath home filled with beautiful architectural details. Warm and inviting, the home features two wood-burning fireplaces, hardwood floors, elegant curved arches, and an open wood staircase that serves as a striking focal point. The library offers built-in, glass-front bookcases?perfect for readers or a stylish home office. Enjoy the convenience of main-floor laundry and classic 6-panel doors throughout the home. An open front porch provides a welcoming outdoor space, while the carriage-style 2-car garage adds both function and historic appeal. This home blends character, craftsmanship, and comfort?ideal for anyone seeking a truly unique property. Some TLC needed.

24. 2026-01-14
    price $170,000 729-char remark

    Show marketing remark (729 chars)

    Step into timeless charm with this spacious 5-bedroom, 1.5-bath home filled with beautiful architectural details. Warm and inviting, the home features two wood-burning fireplaces, hardwood floors, elegant curved arches, and an open wood staircase that serves as a striking focal point. The library offers built-in, glass-front bookcases?perfect for readers or a stylish home office. Enjoy the convenience of main-floor laundry and classic 6-panel doors throughout the home. An open front porch provides a welcoming outdoor space, while the carriage-style 2-car garage adds both function and historic appeal. This home blends character, craftsmanship, and comfort?ideal for anyone seeking a truly unique property. Some TLC needed.

25. 2025-12-11
    listed $180,000 Active 729-char remark

    Show marketing remark (729 chars)

    Step into timeless charm with this spacious 5-bedroom, 1.5-bath home filled with beautiful architectural details. Warm and inviting, the home features two wood-burning fireplaces, hardwood floors, elegant curved arches, and an open wood staircase that serves as a striking focal point. The library offers built-in, glass-front bookcases?perfect for readers or a stylish home office. Enjoy the convenience of main-floor laundry and classic 6-panel doors throughout the home. An open front porch provides a welcoming outdoor space, while the carriage-style 2-car garage adds both function and historic appeal. This home blends character, craftsmanship, and comfort?ideal for anyone seeking a truly unique property. Some TLC needed.

26. 2011-08-23
    soldstatus $98,000
27. 2011-08-22
    soldstatus $98,000 255-char remark

    Show marketing remark (255 chars)

    Beautifully maintained stately century home loaded with character and added modern amenities. Open wood staircase, ornately carved woodwork, 2 beautiful brick fireplaces, curved arches, 6 panel doors, formal dining room, library with glass front bookcases

28. 2011-07-07
    historical 255-char remark

    Show marketing remark (255 chars)

    Beautifully maintained stately century home loaded with character and added modern amenities. Open wood staircase, ornately carved woodwork, 2 beautiful brick fireplaces, curved arches, 6 panel doors, formal dining room, library with glass front bookcases

29. 2010-10-07
    listed $105,900 255-char remark

    Show marketing remark (255 chars)

    Beautifully maintained stately century home loaded with character and added modern amenities. Open wood staircase, ornately carved woodwork, 2 beautiful brick fireplaces, curved arches, 6 panel doors, formal dining room, library with glass front bookcases

ⓘ 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: $3,019 · $252/mo
• Projected year-2 tax: $3,019 · $252/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 2/10 Low 7 d/yr ≥98°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,364
• − Mortgage interest: −$7,954
• − Property taxes: −$3,019
• − Insurance: −$710
• − Repairs & maintenance: −$1,549
• − Management: −$1,549
• − Depreciation: −$4,131
• Taxable income: $451
• Est. tax owed @ 24.0%: −$108
• After-tax cash flow: $2,524/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: Elmwood School District
• NCES district ID: 5504350
• Math proficiency: 40% ▬ 0.00%
• Reading proficiency: 45% ▲ 10.00%
• Median HH income: $50,214
• Composite: 38.9/100
• National rank: #8323
• State rank: #210 of 426 in WI

Livability — Elmwood

• Score: 68/100
• State rank: #383
• US rank: #9678

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Elmwood, WI
• Population (ZIP): 1,858

Population outlook (Pierce County) Hauer SSP2

• Today (2025): 41,245 people
• By 2030: 40,340 · -2.2%
• By 2040: 37,649 · -8.7%
• By 2050: 34,595 · -16.1%
• By 2075: 29,067 · -29.5%
• By 2100: 25,183 · -38.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Hispanic / Latino 5% Two or more races 3%
• Common ancestry: Portuguese 12% Romanian 4% Danish 3%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Pierce

• 2024 margin: R (+16.8) · D 40.2% · R 56.9% · Other 2.9%
• 2008→2024 swing: -25.8pp toward R · 2008: 9.0pp · 2024: -16.8pp
• All cycles: 2024: R+16.8 2020: R+12.9 2016: R+13.7 2012: R+0.8 2008: D+9.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -29.08%
• Current HPI: 230.416
• 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

+50.1% since first listed

13 events — show timeline

• 2026-05-19 Relisted — RANWW
• 2026-05-08 Pending — RANWW
• 2026-05-07 Contingent — RANWW
• 2026-04-06 Price Changed $159,000 RANWW
• 2026-04-06 Relisted — RANWW
• 2026-02-09 Pending — RANWW
• 2026-02-09 Listing Removed — RANWW
• 2026-01-14 Price Changed $170,000 RANWW
• 2025-12-11 Listed $180,000 RANWW
• 2011-08-23 Sold (Public Records) $98,000 Public Records
• 2011-08-22 Sold (MLS) $98,000 NORTHSTARMLS as Distributed by MLS Grid
• 2011-07-07 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2010-10-07 Listed $105,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+4.0%/yr

Latest (2025): $3,019 · -29.6% YoY. Source: county tax records.