223 Copeland Ave · La Crosse, WI 54603

$170,000

4 bd · 1.0 ba · 1,619 sqft · SingleFamily · 15 Days on market

Built 1885 6,969 sqft lot Est $194k · 12% 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 +24.4/30.0
• ARV discount +13.1/15.0
• DSCR +7.9/10.0
• 1% rule +6.5/10.0
• Livability +3.5/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Stately 2 story home w/ 3 card heated garage. Enjoy your morning coffee on the front sitting porch. The main floor offers spacious living room, dining room, kitchen(appliances included), office/den plus laundry room. Don't miss the 3 well proportioned bedrooms upstairs. Additional features: some newer windows, full basement with newer furnace and water heater, fenced rear yard, 3 car heated garage and more.

Key facts

• Newer furnace
• Full basement
• Newer water heater

Tags

• FRONT SITTING PORCH
• SPACIOUS LIVING ROOM
• FENCED REAR YARD
• FULL BASEMENT
• NEWER FURNACE
• NEWER WATER HEATER

Property features AI

Exterior

• Parking: 1 additional parking space; Detached 3-car garage with opener and heated
• Utilities: Municipal water; Municipal sewer
• Home design: Single-family home; 2-story
• Construction: Year built per assessor/public record
• Exterior features: Fenced yard; Sidewalks

Interior

• Kitchen: Oven; Range; Refrigerator; Stove (included)
• Bedrooms: Master bedroom (upper level) — 14 x 13; Bedroom 2 (upper level) — 14 x 13; Bedroom 3 (upper level) — 13 x 8
• Flooring: Wood floors
• Bathrooms: Full bath with tub and shower over tub
• Heating & cooling: Forced air heating; Natural gas
• Interior features: Cable/satellite available; High-speed internet; Wood floors; Crawl space and full basement
• Laundry & utility: Washer/dryer not specified

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $346 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $170k).
• Recommended offer: $167k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.7% vs local median 3.0% in La Crosse — 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 69/100 on livability (#339 in WI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, schools D+, health & safety D.
• La Crosse School District (urban): math 29% / reading 34% proficiency, ranked #267 of 342 in WI (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 59 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 268 units permitted in La Crosse County in 2024 (10 in 5+ unit buildings).
• At $1,952/mo this rent would consume 45% of the median local household income ($52k/yr) (locally 526% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• La Crosse County population projected at +14% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($167k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1885 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $167,450 (1.5% below list)

Questions for the listing agent

1. Built in 1885 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-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. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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 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: 1.15% ✓
• Cap rate: 8.73%
• Cash-on-cash: 8.72%
• DSCR: 1.39
• GRM: 7.3

CMA / ARV

• ARV (on-the-fly): $194,280
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1113 Liberty St	0.74mi	4/1.0	1,622 (+0%)	6mo	$219,000	$135	61
407 Avon St	0.24mi	3/1.0 (-1)	1,853 (+14%)	2mo	$180,000	$97	58
625 St Cloud St	0.45mi	4/1.5	1,532 (-5%)	18mo	$183,600	$120	53
802 Kane St	0.63mi	4/1.0	1,486 (-8%)	11mo	$100,000	$67	48
713 Avon St	0.42mi	4/2.0	1,730 (+7%)	24mo	$175,500	$101	45
901 Avon St	0.55mi	3/1.0 (-1)	1,413 (-13%)	12mo	$200,000	$142	38

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: -3.1%
• Equity multiple: 0.88×
• Total profit: $-5,476
• Equity at exit: $25,348

10-year hold

• IRR: 6.7%
• Equity multiple: 1.50×
• Total profit: $23,770
• Equity at exit: $14,698

Cash invested: $47,600 (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 54603

• Active inventory: 59
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,952 high
• Mortgage (P&I): −$891
• Tax from tax record: −$234 /mo · $2,803/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$410
• Net cashflow: $346

Break-even live

Break-even rent $1,514

Max offer price $170,000

Occupancy floor 77%

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: $42,500
• Closing costs: $5,100
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
109 Copeland Ave La Crosse, WI	4.0	1.0	1280	$1,795	$1.40	43d	1	0.17mi
55 River Bend Rd Apt 302 La Crosse, WI	3.0	2.0	1246	$2,950	$2.37	43d	1	0.48mi
55 River Bend Rd Apt 608 La Crosse, WI	3.0	2.0	1183	$2,850	$2.41	43d	1	0.48mi
625 12th St N La Crosse, WI	5.0	1.0	1200	$2,125	$1.77	43d	1	0.96mi
1346 George St #1348 La Crosse, WI	3.0	1.0	1080	$995	$0.92	43d	1	1.03mi

Listing history 14 events

1. 2026-06-19
   days on market $170,000 Active 15 DOM
2. 2026-06-18
   days on market $170,000 Active 14 DOM
3. 2026-06-17
   days on market $170,000 Active 13 DOM
4. 2026-06-16
   days on market $170,000 Active 12 DOM
5. 2026-06-15
   price $170,000 Active 11 DOM
6. 2026-06-15
   days on market $180,000 Active 11 DOM
7. 2026-06-14
   days on market $180,000 Active 9 DOM
8. 2026-06-13
   days on market $180,000 Active 8 DOM
9. 2026-06-10
   days on market $180,000 Active 6 DOM
10. 2026-06-09
    days on market $180,000 Active 5 DOM
11. 2026-06-08
    days on market $180,000 Active 4 DOM
12. 2026-06-07
    days on market $180,000 Active 3 DOM
13. 2026-06-05
    remarks 410-char remark
14. 2026-06-05
    listed $180,000 Active 1 DOM

ⓘ 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: $2,803 · $234/mo
• Projected year-2 tax: $2,974 · $248/mo
• Expected delta: +$171/yr (+$14/mo · 6.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (shaded) · 17% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥100°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: $23,419
• − Mortgage interest: −$9,523
• − Property taxes: −$2,803
• − Insurance: −$850
• − Repairs & maintenance: −$1,874
• − Management: −$1,874
• − Depreciation: −$4,945
• Taxable income: $1,551
• Est. tax owed @ 24.0%: −$372
• After-tax cash flow: $3,778/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: La Crosse School District
• NCES district ID: 5507530
• Math proficiency: 29% ▼ -8.00%
• Reading proficiency: 34% ▼ -4.00%
• Median HH income: $42,924
• Composite: 26.76/100
• National rank: #7135
• State rank: #267 of 342 in WI

Livability — La Crosse

• Score: 69/100
• State rank: #339
• US rank: #8671

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: La Crosse, WI
• County: La Crosse County · 89,439 people
• City population: 64,135
• Metro: La Crosse-Onalaska, WI-MN
• Population (ZIP): 13,738
• Household income: $52,012
• Rent vs Own: 47.9% rent · 52.1% own
• Severe rent burden: 526.0

Population outlook (La Crosse County) Hauer SSP2

• Today (2025): 126,082 people
• By 2030: 130,161 · +3.2%
• By 2040: 137,231 · +8.8%
• By 2050: 143,506 · +13.8%
• By 2075: 160,149 · +27.0%
• By 2100: 166,408 · +32.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Two or more races 6% Asian 5% Hispanic / Latino 3% Black 2%
• Common ancestry: Portuguese 14% Romanian 3% Lithuanian 2%
• Foreign-born: 3% · China
• Languages at home: 94% English-only · Other Asian/Pacific 5% Spanish 1%

Political lean MEDSL · La Crosse

• 2024 margin: Lean D (+9.4) · D 54.0% · R 44.6% · Other 1.4%
• 2008→2024 swing: -14.1pp toward R · 2008: 23.4pp · 2024: 9.4pp
• All cycles: 2024: D+9.4 2020: D+13.5 2016: D+9.6 2012: D+17.3 2008: D+23.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -166.91%
• Current HPI: 270.8554
• Rent YoY: —
• Metro: La Crosse-Onalaska, WI-MN
• 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

1 event — show timeline

• 2026-06-04 Listed $180,000 METROMLS

Property tax history

+1.8%/yr

Latest (2025): $2,803 · +14.4% YoY. Source: county tax records.