504 3rd St W · Ashland, WI 54806

$975

1 bd · 1.0 ba · 900 sqft · MultiFamily · 32 Days on market

Built 1900 6,970 sqft lot Est $1k · 8% over

---

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 +15.0/30.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +4.2/5.0
• ARV discount +3.8/15.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

2-Bedroom, 1-Bathroom Unit for Rent – Pet Friendly! This unit is a great option for anyone looking for comfortable living in a pet-friendly home. With a practical layout and welcoming atmosphere. Pet-friendly: Pets are welcome! Utilities: Tenants are responsible for all utilities. Application Process: All applicants must complete a rental application. Credit and background checks will be conducted as part of the approval process.

Key facts

• 6,970 sq ft lot
• Built 1900
• Listed 31 days

Property features AI

Finance

• Financial info: Annual tax amount: $2,493

Exterior

• Utilities: Public water; Public sewer
• Home design: Residential income property (quadruplex); Two-story
• Construction: Stone foundation
• Exterior features: Lot approximately 95 x 74 (0.16 acre)

Interior

• Heating & cooling: Natural gas heating
• Interior features: Full basement

🏷️ Possibly a rental listed for sale. The $975 price doesn't fit this home's estimated sale value (~$900) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath multifamily listed at $975.

Deal economics

• At list price, monthly cash flow is $749 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($957 rent vs $975).
• Recommended offer: $945 (3.1% below list) — sets the bar for market timing.
• Cap rate 928.5% vs local median 3.5% in Ashland — 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 84/100 on livability (#37 in WI, #750 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, health & safety A+, commute A; Watch: employment F.
• Ashland School District (town): math 16% / reading 30% proficiency, ranked #325 of 342 in WI (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Lake Superior Elementary (math 17% / reading 25%, grade F, #857 of 1,041 statewide, top 83%, 603 students, 61% FRL); Ashland Middle (math 15% / reading 33%, grade F, #325 of 383 statewide, top 85%, 398 students, 61% FRL); Ashland High (math 12% / reading 22%, grade F, #400 of 483 statewide, top 85%, 626 students, 56% FRL).
• Market conditions: 87 active listings in the ZIP; 30 units permitted in Ashland County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $6 of loan paydown is wiped out by about $29 of value loss. Plan a longer hold.
• Ashland County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $273 cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 32 days — a 3% lower offer ($945) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 5y ago; this cycle's ask is 22% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $945 (3.1% below list)

Questions for the listing agent

1. It's been on market 32 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 98.15% ✓
• Cap rate: 928.49%
• Cash-on-cash: 3293.56%
• DSCR: 147.54
• GRM: 0.1

CMA / ARV

• ARV (on-the-fly): $900
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
614 St Claire St	0.73mi	2/1.0 (+1)	980 (+9%)	5mo	$999	$1	42

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: —
• Equity multiple: 175.28×
• Total profit: $47,579
• Equity at exit: $145

10-year hold

• IRR: —
• Equity multiple: 378.07×
• Total profit: $102,939
• Equity at exit: $84

Cash invested: $273 (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 54806

• Active inventory: 87
• Price-to-rent: 0.1×

Monthly cashflow live

• Estimated rent: $957 medium
• Mortgage (P&I): −$5
• Tax est. 1.5%: −$1 /mo · $15/yr
• Insurance: −$0
• HOA: −$0
• Vacancy / Maint / Mgmt: −$201
• Net cashflow: $749

Break-even live

Break-even rent $9

Max offer price $975

Occupancy floor 17%

Sensitivity live

Price	-10% $750	-5% $750	+0% $749	+5% $749	+10% $749
Rent	-10% $674	-5% $711	+0% $749	+5% $787	+10% $825
Rate	-1.0pp $750	-0.5pp $750	base $749	+0.5pp $749	+1.0pp $749

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: $244
• Closing costs: $29
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-15
   days on market $975 Active 32 DOM
2. 2026-06-15
   days on market $975 Active 31 DOM
3. 2026-06-13
   days on market $975 Active 30 DOM
4. 2026-06-12
   days on market $975 Active 29 DOM
5. 2026-06-09
   days on market $975 Active 26 DOM
6. 2026-06-08
   days on market $975 Active 25 DOM
7. 2026-06-08
   days on market $975 Active 24 DOM
8. 2026-06-07
   days on market $975 Active 23 DOM
9. 2026-06-03
   days on market $975 Active 20 DOM
10. 2026-06-02
    days on market $975 Active 19 DOM
11. 2026-06-01
    days on market $975 Active 18 DOM
12. 2026-05-31
    days on market $975 Active 17 DOM
13. 2026-05-14
    listed $800 Active
14. 2025-10-17
    soldstatus $950 Closed 439-char remark

    Show marketing remark (439 chars)

    2-Bedroom, 1-Bathroom Unit for Rent – Pet Friendly! This unit is a great option for anyone looking for comfortable living in a pet-friendly home. With a practical layout and welcoming atmosphere. Pet-friendly: Pets are welcome! Utilities: Tenants are responsible for all utilities. Application Process: All applicants must complete a rental application. Credit and background checks will be conducted as part of the approval process.

15. 2025-09-10
    listed $975 Active 439-char remark

    Show marketing remark (439 chars)

    2-Bedroom, 1-Bathroom Unit for Rent – Pet Friendly! This unit is a great option for anyone looking for comfortable living in a pet-friendly home. With a practical layout and welcoming atmosphere. Pet-friendly: Pets are welcome! Utilities: Tenants are responsible for all utilities. Application Process: All applicants must complete a rental application. Credit and background checks will be conducted as part of the approval process.

16. 2025-08-28
    soldstatus $975 Closed 439-char remark

    Show marketing remark (439 chars)

    2-Bedroom, 1-Bathroom Unit for Rent – Pet Friendly! This unit is a great option for anyone looking for comfortable living in a pet-friendly home. With a practical layout and welcoming atmosphere. Pet-friendly: Pets are welcome! Utilities: Tenants are responsible for all utilities. Application Process: All applicants must complete a rental application. Credit and background checks will be conducted as part of the approval process.

17. 2025-08-23
    soldstatus $1,000 Closed
18. 2025-06-30
    listed $1,000 Active
19. 2025-06-24
    listed $975 Active 439-char remark

    Show marketing remark (439 chars)

    2-Bedroom, 1-Bathroom Unit for Rent – Pet Friendly! This unit is a great option for anyone looking for comfortable living in a pet-friendly home. With a practical layout and welcoming atmosphere. Pet-friendly: Pets are welcome! Utilities: Tenants are responsible for all utilities. Application Process: All applicants must complete a rental application. Credit and background checks will be conducted as part of the approval process.

20. 2025-06-10
    soldstatus $1,000 Closed
21. 2025-05-29
    listed $1,000 Active
22. 2022-05-06
    soldstatus $169,900
23. 2021-09-29
    listed $169,900

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

Taxation est. · year 1

• Rental income: $11,484
• − Mortgage interest: −$55
• − Property taxes: −$15
• − Insurance: −$5
• − Repairs & maintenance: −$919
• − Management: −$919
• − Depreciation: −$28
• Taxable income: $9,544
• Est. tax owed @ 24.0%: −$2,291
• After-tax cash flow: $6,701/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: Ashland School District
• NCES district ID: 5500510
• Math proficiency: 16% ▼ -16.00%
• Reading proficiency: 30% ▼ -4.00%
• Median HH income: $40,114
• Composite: 19.4/100
• National rank: #8782
• State rank: #325 of 342 in WI

Livability — Ashland

• Score: 84/100
• State rank: #37
• US rank: #750

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ashland, WI
• Population (ZIP): 11,708

Population outlook (Ashland County) Hauer SSP2

• Today (2025): 15,204 people
• By 2030: 14,639 · -3.7%
• By 2040: 13,198 · -13.2%
• By 2050: 11,841 · -22.1%
• By 2075: 9,755 · -35.8%
• By 2100: 8,675 · -42.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Native American 9% Two or more races 6% Hispanic / Latino 4%
• Common ancestry: Romanian 8% Portuguese 6% Lithuanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 1% Other Indo-European 1%

Political lean MEDSL · Ashland

• 2024 margin: Toss-up / Even · D 51.6% · R 46.9% · Other 1.5%
• 2008→2024 swing: -32.4pp toward R · 2008: 37.1pp · 2024: 4.7pp
• All cycles: 2024: D+4.7 2020: D+11.0 2016: D+8.9 2012: D+30.8 2008: D+37.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -142.11%
• Current HPI: 168.3012
• 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

-99.4% since first listed

11 events — show timeline

• 2026-05-14 Listed $800 LSAR
• 2025-10-17 Sold (MLS) $950 LSAR
• 2025-09-10 Listed $975 LSAR
• 2025-08-28 Sold (MLS) $975 LSAR
• 2025-08-23 Sold (MLS) $1,000 LSAR
• 2025-06-30 Listed $1,000 LSAR
• 2025-06-24 Listed $975 LSAR
• 2025-06-10 Sold (MLS) $1,000 LSAR
• 2025-05-29 Listed $1,000 LSAR
• 2022-05-06 Sold (MLS) $169,900 LSAR
• 2021-09-29 Listed $169,900 LSAR