218 E Clark St · Alma Center, WI 54611

$110,000

2 bd · 1.0 ba · 1,150 sqft · Other · 115 Days on market

Built 1920 1.25 ac lot ↓ 24% since listing

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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 +11.0/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +3.2/10.0
• DSCR +3.2/10.0
• Livability +3.2/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

This property has a huge lot with a wooded area at the back and room for the firepit. The top barn level of the garage has many many possibilities. New metal garage roof and garage door with opener. The home has a new furnace but portions of the home need love and rehab. Some hardwood floors. Please be preapproved on paper or cash for this type of property. Breakered electrical, about half of the windows are new!

Key facts

• 1.25 acre lot
• 2 garage spots
• Built 1920

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $110k.

Deal economics

• At list price, monthly cash flow is $-46 ($-557/yr) — negative.
• To cash-flow at today's rent, offer at most $103k (6.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $90k (17.9% below list).
• Recommended offer: $90k (17.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 63/100 on livability (#610 in WI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, health & safety D, schools F.
• Alma Center School District (rural): math 33% / reading 29% proficiency, ranked #273 of 342 in WI (top 80%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 4 active listings in the ZIP; 73 units permitted in Jackson County in 2024 (15 in 5+ unit buildings).

Forward outlook

• In year one you build about $12k of equity ($761 loan paydown + $11k appreciation (10.0% local appreciation)).
• Jackson County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$42k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 115 days — a 9% lower offer ($100k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $9k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $90,349 (17.9% 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 115 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
3. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.82% ✗
• Cap rate: 5.79%
• Cash-on-cash: -1.81%
• DSCR: 0.92
• GRM: 10.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 23.0%
• Equity multiple: 2.85×
• Total profit: $56,966
• Equity at exit: $99,097

10-year hold

• IRR: 20.5%
• Equity multiple: 6.52×
• Total profit: $170,107
• Equity at exit: $213,706

Cash invested: $30,800 (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 54611

• Home prices YoY: 7.0%
• Active inventory: 4
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $903 medium
• Mortgage (P&I): −$577
• Tax est. 1.5%: −$138 /mo · $1,650/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$190
• Net cashflow: $-46

Break-even live

Break-even rent $962

Max offer price $103,282

Occupancy floor —

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-05-31
   days on market $110,000 Active 115 DOM
2. 2026-05-01
   status Active 416-char remark

   Show marketing remark (416 chars)

   This property has a huge lot with a wooded area at the back and room for the firepit. The top barn level of the garage has many many possibilities. New metal garage roof and garage door with opener. The home has a new furnace but portions of the home need love and rehab. Some hardwood floors. Please be preapproved on paper or cash for this type of property. Breakered electrical, about half of the windows are new!

3. 2026-05-01
   historical 416-char remark

   Show marketing remark (416 chars)

   This property has a huge lot with a wooded area at the back and room for the firepit. The top barn level of the garage has many many possibilities. New metal garage roof and garage door with opener. The home has a new furnace but portions of the home need love and rehab. Some hardwood floors. Please be preapproved on paper or cash for this type of property. Breakered electrical, about half of the windows are new!

4. 2026-04-29
   price $110,000 416-char remark

   Show marketing remark (416 chars)

   This property has a huge lot with a wooded area at the back and room for the firepit. The top barn level of the garage has many many possibilities. New metal garage roof and garage door with opener. The home has a new furnace but portions of the home need love and rehab. Some hardwood floors. Please be preapproved on paper or cash for this type of property. Breakered electrical, about half of the windows are new!

5. 2026-02-05
   listed $119,000 Active 416-char remark

   Show marketing remark (416 chars)

   This property has a huge lot with a wooded area at the back and room for the firepit. The top barn level of the garage has many many possibilities. New metal garage roof and garage door with opener. The home has a new furnace but portions of the home need love and rehab. Some hardwood floors. Please be preapproved on paper or cash for this type of property. Breakered electrical, about half of the windows are new!

6. 2026-02-01
   historical 762-char remark

   Show marketing remark (762 chars)

   1.3 acre beautiful, recently surveyed, Lot in the lovely Village of Alma Center! Plenty of room for the firepit, camper and a huge wooded area needing to be tamed with a HUGE Maple tree right in the middle! Garage/shop/barn has new metal roof, new 2 car overhead door with electric opener. Second level has a super solid floor with tons of possibilities! Home is a 2-bedroom 1 Bath and is mostly a remodel! This home will not allow for special program loans. Furnace new in 2024, ducts cleaned in 2025. Home well insulated by Western Dairyland. About half of the windows have been replaced. Hardwood flooring in most areas- curved doorways. Dimensions may be estimated-property sold as is. Some used appliances can be included upon request. By appointment only!!

7. 2025-09-24
   listed $119,000 Active 762-char remark

   Show marketing remark (762 chars)

   1.3 acre beautiful, recently surveyed, Lot in the lovely Village of Alma Center! Plenty of room for the firepit, camper and a huge wooded area needing to be tamed with a HUGE Maple tree right in the middle! Garage/shop/barn has new metal roof, new 2 car overhead door with electric opener. Second level has a super solid floor with tons of possibilities! Home is a 2-bedroom 1 Bath and is mostly a remodel! This home will not allow for special program loans. Furnace new in 2024, ducts cleaned in 2025. Home well insulated by Western Dairyland. About half of the windows have been replaced. Hardwood flooring in most areas- curved doorways. Dimensions may be estimated-property sold as is. Some used appliances can be included upon request. By appointment only!!

8. 2025-08-28
   historical
9. 2025-07-31
   listed $145,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥97°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: $10,842
• − Mortgage interest: −$6,162
• − Property taxes: −$1,650
• − Insurance: −$550
• − Repairs & maintenance: −$867
• − Management: −$867
• − Depreciation: −$3,200
• Taxable loss: −$2,455
• Est. tax savings @ 24.0%: +$589
• After-tax cash flow: $32/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: Alma Center School District
• NCES district ID: 5500210
• Math proficiency: 33% ▼ -4.00%
• Reading proficiency: 29% ▼ -9.00%
• Median HH income: $43,049
• Composite: 26.39/100
• National rank: #7231
• State rank: #273 of 342 in WI

Livability — Alma Center

• Score: 63/100
• State rank: #610
• US rank: #15788

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: Alma Center, WI
• Population (ZIP): 1,301

Population outlook (Jackson County) Hauer SSP2

• Today (2025): 20,419 people
• By 2030: 20,186 · -1.1%
• By 2040: 19,663 · -3.7%
• By 2050: 18,980 · -7.0%
• By 2075: 17,532 · -14.1%
• By 2100: 14,669 · -28.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Hispanic / Latino 7% Two or more races 6%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Portuguese 23% Romanian 7% Slovak 2%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 4% Other Indo-European 1%

Political lean MEDSL · Jackson

• 2024 margin: R (+19.5) · D 39.6% · R 59.1% · Other 1.3%
• 2008→2024 swing: -41.3pp toward R · 2008: 21.8pp · 2024: -19.5pp
• All cycles: 2024: R+19.5 2020: R+15.1 2016: R+11.8 2012: D+15.0 2008: D+21.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 10.28%
• Current HPI: 157.2572
• 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

-24.1% since first listed

8 events — show timeline

• 2026-05-01 Relisted — RANWW
• 2026-05-01 Listing Removed — RANWW
• 2026-04-29 Price Changed $110,000 RANWW
• 2026-02-05 Listed $119,000 RANWW
• 2026-02-01 Listing Removed — RANWW
• 2025-09-24 Listed $119,000 RANWW
• 2025-08-28 Listing Removed — METROMLS
• 2025-07-31 Listed $145,000 METROMLS

Property tax history

+1.6%/yr

Latest (2025): $48 · -2.1% YoY. Source: county tax records.