513 S Main St · Mellen, WI 54546

$70,000

3 bd · 1.0 ba · 1,340 sqft · Other · 52 Days on market

6,969 sqft lot $52/sqft · 17% below area Est $84k · 17% under

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Why this score? — see what drove the A- 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 +30.0/30.0
• ARV discount +14.9/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +6.0/10.0
• Livability +3.2/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Nice 3 bedroom home, ideal for a small family, single person, couple or potential rental property. The home features a man floor bedroom and bathroom with 2 bedrooms on the upper floor. There is a nce back yard and a slab is ready for a 1 car garage.

Key facts

• 6,969 sq ft lot
• Listed 51 days

Property features AI

Exterior

• Home design: Two-story single-family home; Finished above grade area approximately 1,340
• Construction: Estimated living area range 1,251–1,500
• Exterior features: Lot approximately 0.16 acre

Interior

• Kitchen: Kitchen located on the main level
• Bedrooms: Bedroom 2 on the upper level (approx. 13 x 11); Bedroom 3 on the main level (approx. 13 x 8); Bedroom 4 on the upper level (approx. 11 x 8)
• Bathrooms: One full bathroom
• Interior features: Living room on the main level (approx. 15 x 12); Dining room on the main level (approx. 12 x 12); Kitchen on the main level (approx. 12 x 9)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $70k.

Deal economics

• At list price, monthly cash flow is $475 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $68k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#567 in WI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D+, health & safety D, schools D-.
• Mellen School District (rural): math 35% / reading 25% proficiency, ranked #383 of 426 in WI (top 90%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 24 active listings in the ZIP; 30 units permitted in Ashland County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($484 loan paydown + $1k appreciation (1.9% local appreciation)).
• Ashland County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (1.9% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($68k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 19y 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 $50k; 40% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $67,900 (3.0% below list)

Questions for the listing agent

1. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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 D 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: 1.70% ✓
• Cap rate: 14.44%
• Cash-on-cash: 29.11%
• DSCR: 2.30
• GRM: 4.9

CMA / ARV

• ARV (median comp): $83,873
• List price: $70,000
• Delta: -16.54%
• Verdict: UNDERPRICED
• Comps: 17 within 1.0 mi

Projected returns pro-forma

1.95% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 33.2%
• Equity multiple: 2.78×
• Total profit: $34,911
• Equity at exit: $27,420

10-year hold

• IRR: 34.5%
• Equity multiple: 5.43×
• Total profit: $86,812
• Equity at exit: $39,339

Cash invested: $19,600 (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 54546

• Home prices YoY: 2.2%
• Active inventory: 24
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,191 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$69 /mo · $830/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$250
• Net cashflow: $475

Break-even live

Break-even rent $589

Max offer price $70,000

Occupancy floor 55%

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-18
   days on market $70,000 Active 52 DOM
2. 2026-06-17
   days on market $70,000 Active 51 DOM
3. 2026-06-16
   days on market $70,000 Active 50 DOM
4. 2026-06-15
   days on market $70,000 Active 49 DOM
5. 2026-06-15
   days on market $70,000 Active 48 DOM
6. 2026-06-13
   days on market $70,000 Active 47 DOM
7. 2026-06-12
   days on market $70,000 Active 46 DOM
8. 2026-06-09
   days on market $70,000 Active 43 DOM
9. 2026-06-08
   days on market $70,000 Active 42 DOM
10. 2026-06-08
    days on market $70,000 Active 41 DOM
11. 2026-06-05
    days on market $70,000 Active 39 DOM
12. 2026-06-03
    days on market $70,000 Active 37 DOM
13. 2026-06-02
    days on market $70,000 Active 36 DOM
14. 2026-06-01
    days on market $70,000 Active 35 DOM
15. 2026-05-31
    days on market $70,000 Active 34 DOM
16. 2026-04-27
    listed $70,000 Active 250-char remark

    Show marketing remark (250 chars)

    Nice 3 bedroom home, ideal for a small family, single person, couple or potential rental property. The home features a man floor bedroom and bathroom with 2 bedrooms on the upper floor. There is a nce back yard and a slab is ready for a 1 car garage.

17. 2026-04-27
    listed $70,000 Active 250-char remark

    Show marketing remark (250 chars)

    Nice 3 bedroom home, ideal for a small family, single person, couple or potential rental property. The home features a man floor bedroom and bathroom with 2 bedrooms on the upper floor. There is a nce back yard and a slab is ready for a 1 car garage.

18. 2022-07-20
    soldstatus $49,900 480-char remark

    Show marketing remark (480 chars)

    In the heart of downtown Mellen across from the Mellen School. This three bed, one bath home offers a park-like back yard setting. Enjoy the bright, three season front porch for relaxation. Slab is poured for one car detached garage. This home is in need of cosmetic updates, a new roof, heating and plumbing systems. Close to Copper Falls State Park and the Chequamegon National Forest enjoy hiking, fishing, inland lakes and streams. Seller is a licensed agent in WI & MN.

19. 2022-07-20
    soldstatus $49,900

    Show marketing remark (480 chars)

    In the heart of downtown Mellen across from the Mellen School. This three bed, one bath home offers a park-like back yard setting. Enjoy the bright, three season front porch for relaxation. Slab is poured for one car detached garage. This home is in need of cosmetic updates, a new roof, heating and plumbing systems. Close to Copper Falls State Park and the Chequamegon National Forest enjoy hiking, fishing, inland lakes and streams. Seller is a licensed agent in WI & MN.

20. 2022-06-20
    listed $49,900 480-char remark

    Show marketing remark (480 chars)

    In the heart of downtown Mellen across from the Mellen School. This three bed, one bath home offers a park-like back yard setting. Enjoy the bright, three season front porch for relaxation. Slab is poured for one car detached garage. This home is in need of cosmetic updates, a new roof, heating and plumbing systems. Close to Copper Falls State Park and the Chequamegon National Forest enjoy hiking, fishing, inland lakes and streams. Seller is a licensed agent in WI & MN.

21. 2020-05-20
    soldstatus $19,000
22. 2020-01-13
    listed $19,900
23. 2009-03-28
    historical
24. 2007-03-28
    listed $63,900

ⓘ 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: $830 · $69/mo
• Projected year-2 tax: $1,063 · $89/mo
• Expected delta: +$232/yr (+$19/mo · 28.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥92°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: $14,293
• − Mortgage interest: −$3,921
• − Property taxes: −$830
• − Insurance: −$350
• − Repairs & maintenance: −$1,143
• − Management: −$1,143
• − Depreciation: −$2,036
• Taxable income: $4,868
• Est. tax owed @ 24.0%: −$1,168
• After-tax cash flow: $4,538/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: Mellen School District
• NCES district ID: 5508970
• Math proficiency: 35% ▬ 0.00%
• Reading proficiency: 25% ▼ -10.00%
• Median HH income: $39,566
• Composite: 28.06/100
• National rank: #12225
• State rank: #383 of 426 in WI

Livability — Mellen

• Score: 64/100
• State rank: #567
• US rank: #14451

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mellen, WI
• Population (ZIP): 1,133

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 (96%)
• Race & ethnicity: White 96% Two or more races 2%
• Common ancestry: Romanian 13% Portuguese 5% Scotch-Irish 2%
• Foreign-born: 2% · Canada
• Languages at home: 99% English-only · Other Asian/Pacific 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: ▲ 1.95%
• Current HPI: 89.1518
• 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

+9.5% since first listed

9 events — show timeline

• 2026-04-27 Listed $70,000 SAAR
• 2026-04-27 Listed $70,000 LSAR
• 2022-07-20 Sold (Public Records) $49,900 Public Records
• 2022-07-20 Sold (MLS) $49,900 LSAR
• 2022-06-20 Listed $49,900 LSAR
• 2020-05-20 Sold (MLS) $19,000 GNMLS
• 2020-01-13 Listed $19,900 GNMLS
• 2009-03-28 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2007-03-28 Listed $63,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+1.1%/yr

Latest (2025): $830 · +12.6% YoY. Source: county tax records.