815 Alvey St · Bruce, WI 54819

$114,900

3 bd · 1.5 ba · 1,740 sqft · Other · 1 Days on market

Built 1940 0.25 ac lot

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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 +19.6/30.0
• Appreciation +8.6/10.0
• ARV discount +7.5/15.0
• DSCR +6.2/10.0
• 1% rule +4.9/10.0
• Livability +3.0/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Handyman special 2-story home located on a large corner lot in the Village of Bruce. This property requires some TLC, but represents an opportunity to acquire a large house at a very competitive price point. The interior layout includes 3 bedrooms, 1.5 bathrooms, a formal dining room, and main-floor laundry. Flooring includes sections of hardwood, and the bedrooms feature walk-in closets. A pellet stove is installed as an auxiliary heating source, and the home features a metal roof along with some updated plumbing. The exterior attributes include an enclosed front porch, off-street parking for 2?3 vehicles, and a Heritage shed for additional storage. The property is located on a quiet stree

Key facts

• Metal roof
• Formal dining room
• Large corner lot

Tags

• LARGE CORNER LOT
• FORMAL DINING ROOM
• MAIN-FLOOR LAUNDRY
• WALK-IN CLOSETS
• PELLET STOVE
• METAL ROOF

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath other listed at $115k.

Deal economics

• At list price, monthly cash flow is $132 ($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 $114k (1.0% below list).
• Recommended offer: $114k (1.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 60/100 on livability (#700 in WI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A; Watch: crime C-, health & safety D, schools D-.
• Bruce School District (rural): math 40% / reading 30% proficiency, ranked #240 of 342 in WI (top 70%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 18 active listings in the ZIP; 90 units permitted in Rusk County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $9k of equity ($794 loan paydown + $8k appreciation (7.3% local appreciation)).
• Rusk County population projected at -29% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (7.3% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $113,724 (1.0% below list)

Questions for the listing agent

1. Built in 1940 — 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. 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.
5. 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.
6. 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: 0.99% ✗
• Cap rate: 7.67%
• Cash-on-cash: 4.92%
• DSCR: 1.22
• GRM: 8.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

7.28% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 22.2%
• Equity multiple: 2.57×
• Total profit: $50,535
• Equity at exit: $81,758

10-year hold

• IRR: 20.6%
• Equity multiple: 5.37×
• Total profit: $140,432
• Equity at exit: $157,276

Cash invested: $32,172 (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 54819

• Home prices YoY: 3.0%
• Active inventory: 18
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,137 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$116 /mo · $1,392/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$239
• Net cashflow: $132

Break-even live

Break-even rent $970

Max offer price $114,900

Occupancy floor 83%

Sensitivity live

Price	-10% $197	-5% $165	+0% $132	+5% $99	+10% $67
Rent	-10% $42	-5% $87	+0% $132	+5% $177	+10% $222
Rate	-1.0pp $190	-0.5pp $161	base $132	+0.5pp $102	+1.0pp $72

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: $28,725
• Closing costs: $3,447
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-06-21
   statusdays on market $114,900 Active 1 DOM
2. 2026-06-18
   days on market $114,900 Coming Soon 2 DOM
3. 2026-06-17
   remarks 699-char remark
4. 2026-06-17
   listed $114,900 Coming Soon 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: $1,392 · $116/mo
• Projected year-2 tax: $1,759 · $147/mo
• Expected delta: +$367/yr (+$31/mo · 26.3%)

ⓘ 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 (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥95°F today · 13 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,647
• − Mortgage interest: −$6,436
• − Property taxes: −$1,392
• − Insurance: −$574
• − Repairs & maintenance: −$1,092
• − Management: −$1,092
• − Depreciation: −$3,343
• Taxable loss: −$282
• Est. tax savings @ 24.0%: +$68
• After-tax cash flow: $1,651/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: Bruce School District
• NCES district ID: 5501830
• Math proficiency: 40% ▼ -10.00%
• Reading proficiency: 30% ▼ -4.00%
• Median HH income: $40,032
• Composite: 29.45/100
• National rank: #6516
• State rank: #240 of 342 in WI

Livability — Bruce

• Score: 60/100
• State rank: #700
• US rank: #18959

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bruce, WI
• Population (ZIP): 2,584

Population outlook (Rusk County) Hauer SSP2

• Today (2025): 12,916 people
• By 2030: 12,181 · -5.7%
• By 2040: 10,611 · -17.8%
• By 2050: 9,174 · -29.0%
• By 2075: 7,137 · -44.7%
• By 2100: 5,766 · -55.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 7% Hispanic / Latino 5%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Portuguese 9% Romanian 9% Lithuanian 4%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Rusk

• 2024 margin: Solid R (+38.0) · D 30.5% · R 68.5% · Other 1.0%
• 2008→2024 swing: -46.3pp toward R · 2008: 8.3pp · 2024: -38.0pp
• All cycles: 2024: R+38.0 2020: R+34.7 2016: R+34.0 2012: R+3.9 2008: D+8.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 7.28%
• Current HPI: 249.1559
• 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

+77.0% since first listed

5 events — show timeline

• 2026-06-16 Coming Soon $114,900 RANWW
• 2022-05-02 Sold (Public Records) $104,900 Public Records
• 2015-11-05 Sold (Public Records) $13,500 Public Records
• 2006-12-28 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2006-05-13 Listed $64,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+0.8%/yr

Latest (2025): $1,392 · +25.4% YoY. Source: county tax records.