609 10th Ave Ave W · Ashland, WI 54806

$1,200

4 bd · 3.0 ba · 2,592 sqft · MultiFamily · 2 Days on market

Built 1920 6,970 sqft lot

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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
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +4.2/5.0
• 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: 2 units. confirmed

Listing remarks MLS

Well maintained duplex featuring 2 -2 bedroom, 1 full bath units. Each unit offers comfortable layout with spacious living areas and functional kitchens. The property includes a full basement providing additional storage and washer dryer hookup. Utilities include separate electrical for each unit, along with one furnace and one hot water heater serving the building. Outside you will find off street parking adding convenience for tenants or owners. This property is a great opportunity for an investment property or owner occupied rental.

Key facts

• Pet-friendly
• Forced air heat
• Off-street parking

Tags

• FORCED AIR HEAT
• SHARED ON-SITE WASHER DRYER
• OFF-STREET PARKING
• PET-FRIENDLY

Property features AI

Exterior

• Parking: No on‑site parking listed
• Utilities: Public water; Public sewer
• Home design: Duplex (residential income property); 2 stories total
• Construction: Above-grade finished area 1,728; Below-grade finished area 864
• Exterior features: Lot dimensions approximately 140 x 50; Lot size about 0.16 acres

Interior

• Bedrooms: Two 2‑bedroom units
• Bathrooms: One unit with 2 bathrooms; one unit with 1 bathroom
• Heating & cooling: Forced air heating
• Interior features: Full basement; Has heating

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.5-bath units multifamily listed at $1k.

Deal economics

• At list price, monthly cash flow is $2k ($21k/yr) — positive. Per door: $881/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $1k).
• Cap rate 1767.6% 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: schools C-, 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.
• Market conditions: 85 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 $8 of loan paydown is wiped out by about $36 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 $336 cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $1,200

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 186.67% ✓
• Cap rate: 1767.60%
• Cash-on-cash: 6290.38%
• DSCR: 280.89
• GRM: 0.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 334.39×
• Total profit: $112,018
• Equity at exit: $179

10-year hold

• IRR: —
• Equity multiple: 721.62×
• Total profit: $242,128
• Equity at exit: $104

Cash invested: $336 (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: 85
• Price-to-rent: 0.1×

Monthly cashflow live

• Estimated rent: $2,240 medium
• Mortgage (P&I): −$6
• Tax est. 1.5%: −$2 /mo · $18/yr
• Insurance: −$0
• HOA: −$0
• Vacancy / Maint / Mgmt: −$470
• Net cashflow: $1,761

Break-even live

Break-even rent $10

Max offer price $1,200

Occupancy floor 16%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.5	$2,240
Total (2 units)			$2,240

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: $300
• Closing costs: $36
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-06-18
   days on market $1,200 Active 2 DOM
2. 2026-06-17
   remarks 401-char remark
3. 2026-06-17
   listed $1,200 Active 1 DOM

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 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: $26,880
• − Mortgage interest: −$67
• − Property taxes: −$18
• − Insurance: −$6
• − Repairs & maintenance: −$2,150
• − Management: −$2,150
• − Depreciation: −$35
• Taxable income: $22,453
• Est. tax owed @ 24.0%: −$5,389
• After-tax cash flow: $15,747/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

-99.2% since first listed

7 events — show timeline

• 2026-06-16 Listed $1,200 LSAR
• 2026-04-30 Sold (MLS) $166,000 SAAR
• 2026-04-30 Sold (MLS) $166,000 LSAR
• 2026-03-19 Pending — LSAR
• 2026-03-19 Pending — SAAR
• 2026-03-12 Listed $160,000 SAAR
• 2026-03-12 Listed $160,000 LSAR