921 Dorr Ave · Rhinelander, WI 54501

$119,000

2 bd · 1.0 ba · 884 sqft · SingleFamily · 6 Days on market

3,572 sqft lot Est $131k · 9% under

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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 +18.1/30.0
• ARV discount +11.6/15.0
• DSCR +5.7/10.0
• 1% rule +4.3/10.0
• Livability +3.9/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

THIS IS AN IDEAL STARTER HOME OR INVESTMENT - PROPERTY. HOUSE FEATURES HARD WOOD FLOORS IN BOTH - BEDROOMS AND HAS A REMODELED BATH. LARGE LIVING - ROOM WALKS OUT TO A 3 SEASON SUN PORCH.

Key facts

• Near schools
• Near shopping
• In-town location

Tags

• STORAGE SHED
• IN-TOWN LOCATION
• NEAR DOWNTOWN
• NEAR SCHOOLS
• NEAR PARKS
• NEAR SHOPPING

Property features AI

Exterior

• Parking: Gravel parking; no garage
• Utilities: Public water; Public sewer; Electric with circuit breakers
• Home design: Single-family residence; One level; Residential property
• Construction: Aluminum siding with frame construction; Stone foundation; Built with composition/shingle roof
• Exterior features: Composition shingle roof; Shed(s); Lot approximately 60 x 60; South-facing

Interior

• Kitchen: Electric oven; Electric range; Refrigerator
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Therapeutic whirlpool; Partial basement with sump pump; No fireplace
• Laundry & utility: Washer; Dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $119k.

Deal economics

• At list price, monthly cash flow is $49 ($590/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $111k (6.8% below list).
• Recommended offer: $111k (6.8% below list) — sets the bar for 1% rule.
• Cap rate 7.3% vs local median 3.9% in Rhinelander — 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 77/100 on livability (#112 in WI, #2,876 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.
• Rhinelander School District (rural): math 31% / reading 31% proficiency, ranked #266 of 342 in WI (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Crescent Elementary (math 32% / reading 32%, grade F, #662 of 1,041 statewide, top 67%, 376 students, 59% FRL); James Williams Middle (math 30% / reading 26%, grade F, #293 of 383 statewide, top 77%, 472 students, 52% FRL); Rhinelander High (math 27% / reading 47%, grade F, #123 of 483 statewide, top 28%, 749 students, 42% FRL).
• Market conditions: 115 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 307 units permitted in Oneida County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $823 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Oneida County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 26y 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.
• Current owner paid $40k; list at $119k implies a 198% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $110,918 (6.8% below list)

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 0.93% ✗
• Cap rate: 7.35%
• Cash-on-cash: 3.77%
• DSCR: 1.17
• GRM: 8.9

CMA / ARV

• ARV (on-the-fly): $130,832
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
813 Randall Ave	0.10mi	2/1.0	840 (-5%)	2mo	$163,400	$195	85
827 Dorr Ave	0.06mi	3/1.0 (+1)	941 (+6%)	14mo	$133,500	$142	70
704 Keenan St	0.19mi	2/1.0	800 (-10%)	9mo	$117,500	$147	68
420 Conro St	0.33mi	2/1.0	936 (+6%)	16mo	$120,000	$128	61
909 Wabash St	0.24mi	2/2.0	980 (+11%)	16mo	$168,000	$171	54
421 Prospect St St W	0.49mi	2/1.0	946 (+7%)	15mo	$140,000	$148	53

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -13.5%
• Equity multiple: 0.52×
• Total profit: $-16,132
• Equity at exit: $17,743

10-year hold

• IRR: -4.5%
• Equity multiple: 0.70×
• Total profit: $-9,936
• Equity at exit: $10,289

Cash invested: $33,320 (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 54501

• Active inventory: 115
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,109 medium
• Mortgage (P&I): −$624
• Tax from tax record: −$98 /mo · $1,175/yr
• Insurance: −$50
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$233
• Net cashflow: $49

Break-even live

Break-even rent $1,047

Max offer price $119,000

Occupancy floor 91%

Sensitivity live

Price	-10% $117	-5% $83	+0% $49	+5% $15	+10% $-18
Rent	-10% $-38	-5% $5	+0% $49	+5% $93	+10% $137
Rate	-1.0pp $109	-0.5pp $79	base $49	+0.5pp $18	+1.0pp $-13

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: $29,750
• Closing costs: $3,570
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
28 N Brown St Rhinelander, WI	1.0	1.0	454	$725	$1.60	45d	4	0.64mi
224 Maple Park Dr Rhinelander, WI	3.0	1.5	1000	$1,375	$1.38	45d	1	1.05mi
180 W Hill Rd Unit 3 Rhinelander, WI	2.0	1.0	1000	$1,075	$1.07	45d	1	1.31mi
942 N Stevens St Rhinelander, WI	2.0	1.0	800	$1,275	$1.59	45d	1	1.36mi

Listing history 4 events

1. 2026-05-21
   listed $119,000 Active
2. 2000-06-14
   soldstatus $40,000 187-char remark

   Show marketing remark (187 chars)

   THIS IS AN IDEAL STARTER HOME OR INVESTMENT - PROPERTY. HOUSE FEATURES HARD WOOD FLOORS IN BOTH - BEDROOMS AND HAS A REMODELED BATH. LARGE LIVING - ROOM WALKS OUT TO A 3 SEASON SUN PORCH.

3. 2000-06-14
   soldstatus $40,000

   Show marketing remark (187 chars)

   THIS IS AN IDEAL STARTER HOME OR INVESTMENT - PROPERTY. HOUSE FEATURES HARD WOOD FLOORS IN BOTH - BEDROOMS AND HAS A REMODELED BATH. LARGE LIVING - ROOM WALKS OUT TO A 3 SEASON SUN PORCH.

4. 2000-04-14
   listed $44,900 187-char remark

   Show marketing remark (187 chars)

   THIS IS AN IDEAL STARTER HOME OR INVESTMENT - PROPERTY. HOUSE FEATURES HARD WOOD FLOORS IN BOTH - BEDROOMS AND HAS A REMODELED BATH. LARGE LIVING - ROOM WALKS OUT TO A 3 SEASON SUN PORCH.

ⓘ 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: $1,175 · $98/mo
• Projected year-2 tax: $1,688 · $141/mo
• Expected delta: +$513/yr (+$43/mo · 43.7%)

ⓘ 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) · 78% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥91°F today · 13 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: $13,310
• − Mortgage interest: −$6,666
• − Property taxes: −$1,175
• − Insurance: −$1,262
• − Repairs & maintenance: −$1,065
• − Management: −$1,065
• − Depreciation: −$3,462
• Taxable loss: −$1,384
• Est. tax savings @ 24.0%: +$332
• After-tax cash flow: $922/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: Rhinelander School District
• NCES district ID: 5512720
• Math proficiency: 31% ▼ -2.00%
• Reading proficiency: 31% ▼ -1.00%
• Median HH income: $47,165
• Composite: 26.77/100
• National rank: #7130
• State rank: #266 of 342 in WI

Livability — Rhinelander

• Score: 77/100
• State rank: #112
• US rank: #2876

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rhinelander, WI
• Population (ZIP): 21,096

Population outlook (Oneida County) Hauer SSP2

• Today (2025): 34,468 people
• By 2030: 33,373 · -3.2%
• By 2040: 30,391 · -11.8%
• By 2050: 27,438 · -20.4%
• By 2075: 23,041 · -33.2%
• By 2100: 18,405 · -46.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Romanian 9% Portuguese 6% Lithuanian 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1% Other Asian/Pacific 1%

Political lean MEDSL · Oneida

• 2024 margin: R (+17.6) · D 40.6% · R 58.2% · Other 1.2%
• 2008→2024 swing: -28.0pp toward R · 2008: 10.4pp · 2024: -17.6pp
• All cycles: 2024: R+17.6 2020: R+14.8 2016: R+17.1 2012: R+2.2 2008: D+10.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -187.57%
• Current HPI: 179.0345
• 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

+165.0% since first listed

4 events — show timeline

• 2026-05-21 Listed $119,000 GNMLS
• 2000-06-14 Sold (Public Records) $40,000 Public Records
• 2000-06-14 Sold (MLS) $40,000 GNMLS
• 2000-04-14 Listed $44,900 GNMLS

Property tax history

-0.4%/yr

Latest (2025): $1,175 · +19.1% YoY. Source: county tax records.