502 Johns Dr Unit B · Stevens Point, WI 54481

$159,900

2 bd · 1.5 ba · 1,056 sqft · Condo · 51 Days on market

Built 1973 Good condition

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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 +18.2/30.0
• ARV discount +7.5/15.0
• DSCR +5.7/10.0
• 1% rule +4.9/10.0
• Livability +4.2/5.0
• Condition / age +3.8/5.0
• Rent growth +3.4/5.0
• Schools +3.2/10.0
• Appreciation +0.0/10.0

Listing remarks

Perfect place to start your home owner journey! Build equity for your future. This unit is in great condition and all ready for you to move in. The condo fees are $205/month and they take care of the lawn and snow removal. This unit includes a shared garage. 1 pet is permitted per the rules of the condominium bylaws. Please give a call and take a look.

Key facts

• Garage
• Built 1973
• Listed 50 days

Property features AI

Finance

• HOA & community: Condominium community (CARRIAGE CONDOMINIUM)

Exterior

• Parking: Attached 1-car garage with opener
• Utilities: Municipal water; Municipal sewer; Standard electrical service
• Home design: Condominium unit in a 2-story building; Part of CARRIAGE CONDOMINIUM; Located in the city of Stevens Point; Zoned for multi-family
• Construction: Shingle roof; Approximately 1,056 finished above-grade square feet
• Exterior features: Brick and vinyl exterior; Other exterior materials

Interior

• Kitchen: Refrigerator; Range/oven; Microwave
• Bedrooms: Primary bedroom (Upper) about 15 x 11; Second bedroom (Upper) about 10 x 10
• Flooring: Carpet
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Baseboard heating
• Interior features: Carpet flooring in living spaces; Smoke detectors; Cable/Satellite available; High-speed internet available
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $160k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $144 ($2k/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 $158k (1.1% below list).
• Recommended offer: $155k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.4% vs local median 2.6% in Stevens Point — 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 85/100 on livability (#27 in WI, #490 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, cost of living A+; Watch: employment D+.
• Stevens Point Area Public School District (town): math 36% / reading 38% proficiency, ranked #203 of 342 in WI (top 59%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Madison Elementary (math 37% / reading 37%, grade F, #562 of 1,041 statewide, top 58%, 356 students, 49% FRL); Stevens Point Area Senior High (math 31% / reading 31%, grade F, #204 of 483 statewide, top 43%, 1,462 students, 32% FRL).
• Market conditions: Rents rising (+3.6%/yr); 70 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 255 units permitted in Portage County in 2024 (115 in 5+ unit buildings).
• This rent runs 32% of the median local income ($60k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($155k) is reasonable based on typical stale-listing flexibility.

Recommended offer $155,103 (3.0% below list)

Questions for the listing agent

1. It's been on market 51 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 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.99% ✗
• Cap rate: 7.37%
• Cash-on-cash: 3.86%
• DSCR: 1.17
• GRM: 8.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.64% rent growth · sell at horizon

5-year hold

• IRR: -9.5%
• Equity multiple: 0.65×
• Total profit: $-15,699
• Equity at exit: $23,842

10-year hold

• IRR: 0.8%
• Equity multiple: 1.06×
• Total profit: $2,484
• Equity at exit: $13,825

Cash invested: $44,772 (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 54481

• Rents YoY: 3.6%
• Active inventory: 70
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,581 medium
• Mortgage (P&I): −$839
• Tax est. 1.5%: −$200 /mo · $2,398/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$332
• Net cashflow: $144

Break-even live

Break-even rent $1,399

Max offer price $159,900

Occupancy floor 86%

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
209 Division St Stevens Point, WI	2.0	1.0–2.0	880	$1,799	$2.04	43d	3	0.91mi
1020 Centerpoint Dr Stevens Point, WI	2.0	1.0–2.0	666	$1,975	$2.97	43d	59	1.00mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: snow removal
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 12 events

1. 2026-06-19
   days on market $159,900 Active 51 DOM
2. 2026-06-18
   days on market $159,900 Active 50 DOM
3. 2026-06-17
   days on market $159,900 Active 49 DOM
4. 2026-06-16
   days on market $159,900 Active 48 DOM
5. 2026-06-15
   days on market $159,900 Active 47 DOM
6. 2026-06-14
   days on market $159,900 Active 45 DOM
7. 2026-06-12
   days on market $159,900 Active 44 DOM
8. 2026-06-09
   days on market $159,900 Active 41 DOM
9. 2026-06-08
   days on market $159,900 Active 40 DOM
10. 2026-06-07
    days on market $159,900 Active 39 DOM
11. 2026-06-03
    remarks 354-char remark
12. 2026-06-03
    listed $159,900 Active 34 DOM

ⓘ 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: $18,971
• − Mortgage interest: −$8,957
• − Property taxes: −$2,398
• − Insurance: −$800
• − Repairs & maintenance: −$1,518
• − Management: −$1,518
• − Depreciation: −$4,652
• Taxable loss: −$871
• Est. tax savings @ 24.0%: +$209
• After-tax cash flow: $1,936/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.

Condition & rehab AI · 8 photos

Good 75/100 Cosmetic rehab

This condo is in good condition with cosmetic updates needed to enhance its resale and rental value. The home is move-in ready with minor repairs and maintenance required.

Repairs flagged

• Minor Kitchen cabinets — Worn edges and some discoloration.
• Minor Bathroom fixtures — Some discoloration and wear on fixtures.
• Minor Landscaping — Some overgrowth in landscaping areas.

Value-add opportunities

• Both Paint interior walls — Fresh paint can make a significant difference in the home's appearance and value.
• Both Replace worn kitchen cabinets — New cabinets can improve the kitchen's functionality and aesthetics.
• Both Replace worn bathroom fixtures — New fixtures can improve the bathroom's functionality and aesthetics.
• Both Trim overgrown landscaping — Well-maintained landscaping can improve curb appeal and property value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Worn edges and some discoloration.	Minor	$500–3,000
Bathroom fixtures · Some discoloration and wear on fixtures.	Minor	$500–3,000
Landscaping · Some overgrowth in landscaping areas.	Minor	$500–3,000
Total estimated repair cost · 3 items		$1,500–9,000

Value-add ROI direction

• Both Paint interior walls — Fresh paint can make a significant difference in the home's appearance and value. ↑
• Both Replace worn kitchen cabinets — New cabinets can improve the kitchen's functionality and aesthetics. ↑
• Both Replace worn bathroom fixtures — New fixtures can improve the bathroom's functionality and aesthetics. ↑
• Both Trim overgrown landscaping — Well-maintained landscaping can improve curb appeal and property value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Stevens Point Area Public School District
• NCES district ID: 5514490
• Math proficiency: 36% ▼ -8.00%
• Reading proficiency: 38% ▼ -6.00%
• Median HH income: $50,284
• Composite: 32.03/100
• National rank: #5825
• State rank: #203 of 342 in WI

Livability — Stevens Point

• Score: 85/100
• State rank: #27
• US rank: #490

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Stevens Point, WI
• County: Portage County · 43,112 people
• City population: 28,242
• Metro: Stevens Point, WI
• Population (ZIP): 28,242
• Household income: $59,545
• Rent vs Own: 42.6% rent · 57.4% own
• Severe rent burden: 945.0

Population outlook (Portage County) Hauer SSP2

• Today (2025): 71,902 people
• By 2030: 72,387 · +0.7%
• By 2040: 72,081 · +0.2%
• By 2050: 70,729 · -1.6%
• By 2075: 68,457 · -4.8%
• By 2100: 65,574 · -8.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Two or more races 5% Hispanic / Latino 4% Asian 4% Black 2%
• Common ancestry: Romanian 24% Portuguese 6% Lithuanian 3%
• Foreign-born: 3% · Canada, China
• Languages at home: 96% English-only · Other Asian/Pacific 2% Spanish 1%

Political lean MEDSL · Portage

• 2024 margin: Toss-up / Even · D 49.8% · R 48.6% · Other 1.6%
• 2008→2024 swing: -26.7pp toward R · 2008: 27.9pp · 2024: 1.2pp
• All cycles: 2024: D+1.2 2020: D+2.8 2016: D+3.2 2012: D+13.9 2008: D+27.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -181.29%
• Current HPI: 237.4151
• Rent YoY: ▲ 3.64%
• Metro: Stevens Point, WI
• 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

• 2026-04-25 Listed $159,900 CWMLS