243 S State St · La Farge, WI 54639

$90,000

3 bd · 2.0 ba · 1,200 sqft · Other · 54 Days on market

Built 1997 0.39 ac lot $75/sqft · 37% below area Est $143k · 37% under ↓ 54% since listing

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Why this score? — see what drove the B+ 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 +26.1/30.0
• ARV discount +15.0/15.0
• Appreciation +9.0/10.0
• DSCR +8.8/10.0
• 1% rule +6.0/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0

Listing remarks MLS

Welcome home to this 3 bedroom 2 bath single level home in La Farge.

Key facts

• 0.39 acre lot
• Built 1997
• Listed 54 days

Property features AI

Finance

• Other: Appliances included with the home: Refrigerator, Stove, Dishwasher

Exterior

• Utilities: Municipal water; Municipal sewer; Natural gas service
• Home design: Single-family home; One-story design; Year built: See remarks
• Construction: Vinyl siding
• Exterior features: Vinyl exterior; Property zoned residential; Less than 1/2 acre lot (approximately 0.39 acre)

Interior

• Kitchen: Kitchen on main level (approx. 14 x 14); Dishwasher, Oven, Refrigerator
• Bedrooms: Master bedroom on main level (approx. 12 x 12); Bedroom 2 on main level (approx. 9 x 10); Bedroom 3 on main level (approx. 10 x 8)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Living room on main level (approx. 14 x 16); No basement (slab foundation)
• Laundry & utility: Washer and dryer excluded from sale

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $90k.

Deal economics

• At list price, monthly cash flow is $227 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($988 rent vs $90k).
• Recommended offer: $87k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 67/100 on livability (#421 in WI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A-; Watch: amenities F, commute F, employment F.
• La Farge School District (rural): math 20% / reading 25% proficiency, ranked #408 of 426 in WI (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: La Farge Elementary (math 15% / reading 15%, grade F, #898 of 1,041 statewide, top 87%, 97 students, 46% FRL); La Farge High (math 10% / reading 10%, grade F, #440 of 483 statewide, top 95%, 64 students, 44% FRL) — zoned schools at 45% FRL track the district average.
• Market conditions: 12 active listings in the ZIP; 117 units permitted in Vernon County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $8k of equity ($622 loan paydown + $7k appreciation (8.0% local appreciation)).
• Vernon County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (8.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 54 days — a 3% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y 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.

Risks & watch-outs

• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $87,300 (3.0% below list)

Questions for the listing agent

1. It's been on market 54 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 F-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: 1.10% ✓
• Cap rate: 9.32%
• Cash-on-cash: 10.81%
• DSCR: 1.48
• GRM: 7.6

CMA / ARV

• ARV (median comp): $142,537
• List price: $90,000
• Delta: -36.86%
• Verdict: UNDERPRICED
• Comps: 13 within 1.0 mi

Projected returns pro-forma

8.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 28.3%
• Equity multiple: 3.04×
• Total profit: $51,476
• Equity at exit: $68,344

10-year hold

• IRR: 25.4%
• Equity multiple: 6.50×
• Total profit: $138,553
• Equity at exit: $135,632

Cash invested: $25,200 (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 54639

• Home prices YoY: 4.4%
• Active inventory: 12
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $988 medium
• Mortgage (P&I): −$472
• Tax from tax record: −$44 /mo · $526/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$207
• Net cashflow: $227

Break-even live

Break-even rent $700

Max offer price $90,000

Occupancy floor 72%

Sensitivity live

Price	-10% $278	-5% $252	+0% $227	+5% $202	+10% $176
Rent	-10% $149	-5% $188	+0% $227	+5% $266	+10% $305
Rate	-1.0pp $272	-0.5pp $250	base $227	+0.5pp $204	+1.0pp $180

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-21
   days on market $90,000 Active 54 DOM
2. 2026-06-18
   days on market $90,000 Active 52 DOM
3. 2026-06-17
   days on market $90,000 Active 51 DOM
4. 2026-06-16
   days on market $90,000 Active 50 DOM
5. 2026-06-15
   days on market $90,000 Active 49 DOM
6. 2026-06-15
   days on market $90,000 Active 48 DOM
7. 2026-06-13
   days on market $90,000 Active 47 DOM
8. 2026-06-12
   days on market $90,000 Active 46 DOM
9. 2026-06-09
   days on market $90,000 Active 43 DOM
10. 2026-06-08
    days on market $90,000 Active 42 DOM
11. 2026-06-08
    days on market $90,000 Active 41 DOM
12. 2026-06-07
    days on market $90,000 Active 40 DOM
13. 2026-06-03
    days on market $90,000 Active 37 DOM
14. 2026-06-02
    days on market $90,000 Active 36 DOM
15. 2026-06-01
    days on market $90,000 Active 35 DOM
16. 2026-05-31
    days on market $90,000 Active 34 DOM
17. 2026-04-27
    listed $90,000 Active 68-char remark
18. 2026-04-24
    historical 68-char remark

    Show marketing remark (68 chars)

    Welcome home to this 3 bedroom 2 bath single level home in La Farge.

19. 2025-10-23
    listed $95,000 Active 68-char remark

    Show marketing remark (68 chars)

    Welcome home to this 3 bedroom 2 bath single level home in La Farge.

20. 2023-02-11
    historical

    Show marketing remark (622 chars)

    Three bedroom, two bath ranch features a deck to relax on, fenced yard for the pets, and the cozy feel of home! Master has private bathroom with jetted tub and impressive vanity. Open kitchen has cupboards for days and an enviable peninsula with shelves. Additional bathroom has shower over tub. 30 * 50 Pole Shed heated and insulated provides storage for toys & hobbies. Second home provides opportunity for rental income with two bedrooms, two full bathrooms, new furnace, carpet and flooring. Property can be split there are three separate tax parcels. If that's not enough, check out the covered deck and relax!

21. 2022-10-14
    price $185,000

    Show marketing remark (622 chars)

    Three bedroom, two bath ranch features a deck to relax on, fenced yard for the pets, and the cozy feel of home! Master has private bathroom with jetted tub and impressive vanity. Open kitchen has cupboards for days and an enviable peninsula with shelves. Additional bathroom has shower over tub. 30 * 50 Pole Shed heated and insulated provides storage for toys & hobbies. Second home provides opportunity for rental income with two bedrooms, two full bathrooms, new furnace, carpet and flooring. Property can be split there are three separate tax parcels. If that's not enough, check out the covered deck and relax!

22. 2022-08-10
    listed $195,000 Active

    Show marketing remark (622 chars)

    Three bedroom, two bath ranch features a deck to relax on, fenced yard for the pets, and the cozy feel of home! Master has private bathroom with jetted tub and impressive vanity. Open kitchen has cupboards for days and an enviable peninsula with shelves. Additional bathroom has shower over tub. 30 * 50 Pole Shed heated and insulated provides storage for toys & hobbies. Second home provides opportunity for rental income with two bedrooms, two full bathrooms, new furnace, carpet and flooring. Property can be split there are three separate tax parcels. If that's not enough, check out the covered deck and relax!

ⓘ 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: $526 · $44/mo
• Projected year-2 tax: $1,096 · $91/mo
• Expected delta: +$569/yr (+$47/mo · 108.1%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 67% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥98°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: $11,853
• − Mortgage interest: −$5,041
• − Property taxes: −$526
• − Insurance: −$450
• − Repairs & maintenance: −$948
• − Management: −$948
• − Depreciation: −$2,618
• Taxable income: $1,321
• Est. tax owed @ 24.0%: −$317
• After-tax cash flow: $2,407/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 Farge School District
• NCES district ID: 5507560
• Math proficiency: 20% ▼ -5.00%
• Reading proficiency: 25% ▼ -5.00%
• Median HH income: $40,213
• Composite: 22.18/100
• National rank: #13517
• State rank: #408 of 426 in WI

Livability — La Farge

• Score: 67/100
• State rank: #421
• US rank: #10438

Category grades

Amenities F Commute F 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: La Farge, WI
• Population (ZIP): 2,640

Population outlook (Vernon County) Hauer SSP2

• Today (2025): 30,605 people
• By 2030: 30,461 · -0.5%
• By 2040: 29,595 · -3.3%
• By 2050: 27,730 · -9.4%
• By 2075: 22,308 · -27.1%
• By 2100: 14,855 · -51.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 1%
• Common ancestry: Portuguese 14% Polish 10% Romanian 2%
• Foreign-born: 0%
• Languages at home: 83% English-only · German/W. Germanic 15% Russian/Polish/Slavic 1%

Political lean MEDSL · Vernon

• 2024 margin: Lean R (+7.8) · D 45.3% · R 53.1% · Other 1.6%
• 2008→2024 swing: -29.8pp toward R · 2008: 22.0pp · 2024: -7.8pp
• All cycles: 2024: R+7.8 2020: R+4.8 2016: R+4.5 2012: D+14.8 2008: D+22.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 8.00%
• Current HPI: 191.5813
• 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

-53.8% since first listed

6 events — show timeline

• 2026-04-27 Listed $90,000 METROMLS
• 2026-04-24 Listing Removed — METROMLS
• 2025-10-23 Listed $95,000 METROMLS
• 2023-02-11 Listing Removed — METROMLS
• 2022-10-14 Price Changed $185,000 METROMLS
• 2022-08-10 Listed $195,000 METROMLS

Property tax history

+4.4%/yr

Latest (2025): $526 · +18.1% YoY. Source: county tax records.