634 Florence Ave · Florence, WI 54121

$136,000

2 bd · 1.0 ba · 1,440 sqft · Other · 65 Days on market

Built 1930 3,484 sqft lot $94/sqft · 10% below area Est $150k · 10% under

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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 +14.8/30.0
• ARV discount +11.8/15.0
• Appreciation +10.0/10.0
• DSCR +4.5/10.0
• Schools +3.4/10.0
• 1% rule +3.1/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Freshly updated 2 bedroom 1 bath home with a fenced backyard and patio that is perfect for relaxing or entertaining. Many updates and maintenance-free exterior improvements, a built-in electric fireplace adds character to the living room, Conveniently located within walking distance to schools and downtown, this home blends charm, updates, and location beautifully. Currently run as an AirBnb.

Key facts

• Fenced backyard
• 3,484 sq ft lot
• 2 parking spots

Tags

• FENCED BACKYARD
• BUILT-IN ELECTRIC FIREPLACE
• WALKING DISTANCE TO SCHOOLS
• WALKING DISTANCE TO DOWNTOWN

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $136k.

Deal economics

• At list price, monthly cash flow is $38 ($461/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 $110k (18.9% below list).
• Recommended offer: $110k (18.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 62/100 on livability (#646 in WI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime A; Watch: amenities F, commute F, employment F.
• Florence County School District (rural): math 35% / reading 40% proficiency, ranked #293 of 426 in WI (top 69%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Florence Elementary (math 37% / reading 32%, grade F, #610 of 1,041 statewide, top 63%, 211 students, 48% FRL); Florence Middle (math 15% / reading 34%, grade F, #317 of 383 statewide, top 83%, 61 students, 36% FRL); Florence High (math 30% / reading 30%, grade F, #208 of 483 statewide, top 46%, 118 students, 44% FRL) — zoned schools at 43% FRL track the district average.
• Market conditions: 40 active listings in the ZIP; 38 units permitted in Florence County in 2024 (5 in 5+ unit buildings).

Forward outlook

• In year one you build about $15k of equity ($940 loan paydown + $14k appreciation (10.0% local appreciation)).
• Florence County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $38k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 65 days — a 6% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• 5 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.
• Current owner paid $90k; list at $136k implies a 51% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $110,288 (18.9% below list)

Questions for the listing agent

1. It's been on market 65 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 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: 0.81% ✗
• Cap rate: 6.63%
• Cash-on-cash: 1.21%
• DSCR: 1.05
• GRM: 10.3

CMA / ARV

• ARV (median comp): $150,353
• List price: $136,000
• Delta: -9.55%
• Verdict: FAIR
• Comps: 12 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 25.1%
• Equity multiple: 3.01×
• Total profit: $76,466
• Equity at exit: $122,520

10-year hold

• IRR: 22.2%
• Equity multiple: 6.86×
• Total profit: $223,159
• Equity at exit: $264,218

Cash invested: $38,080 (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 54121

• Home prices YoY: 11.2%
• Active inventory: 40
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $1,103 medium
• Mortgage (P&I): −$713
• Tax from tax record: −$63 /mo · $756/yr
• Insurance: −$57
• HOA: −$0
• Vacancy / Maint / Mgmt: −$232
• Net cashflow: $38

Break-even live

Break-even rent $1,054

Max offer price $136,000

Occupancy floor 92%

Sensitivity live

Price	-10% $115	-5% $77	+0% $38	+5% $0	+10% $-39
Rent	-10% $-49	-5% $-5	+0% $38	+5% $82	+10% $126
Rate	-1.0pp $107	-0.5pp $73	base $38	+0.5pp $3	+1.0pp $-33

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: $34,000
• Closing costs: $4,080
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-21
   days on market $136,000 Active 65 DOM
2. 2026-06-21
   days on market $136,000 Active 64 DOM
3. 2026-06-18
   days on market $136,000 Active 62 DOM
4. 2026-06-17
   days on market $136,000 Active 61 DOM
5. 2026-06-16
   days on market $136,000 Active 60 DOM
6. 2026-06-15
   days on market $136,000 Active 59 DOM
7. 2026-06-15
   days on market $136,000 Active 58 DOM
8. 2026-06-13
   days on market $136,000 Active 57 DOM
9. 2026-06-12
   days on market $136,000 Active 56 DOM
10. 2026-06-09
    days on market $136,000 Active 53 DOM
11. 2026-06-08
    days on market $136,000 Active 52 DOM
12. 2026-06-08
    days on market $136,000 Active 51 DOM
13. 2026-06-05
    days on market $136,000 Active 49 DOM
14. 2026-06-03
    days on market $136,000 Active 47 DOM
15. 2026-06-02
    days on market $136,000 Active 46 DOM
16. 2026-06-01
    days on market $136,000 Active 45 DOM
17. 2026-05-31
    days on market $136,000 Active 44 DOM
18. 2026-04-17
    listed $136,000 Active 395-char remark

    Show marketing remark (395 chars)

    Freshly updated 2 bedroom 1 bath home with a fenced backyard and patio that is perfect for relaxing or entertaining. Many updates and maintenance-free exterior improvements, a built-in electric fireplace adds character to the living room, Conveniently located within walking distance to schools and downtown, this home blends charm, updates, and location beautifully. Currently run as an AirBnb.

19. 2026-04-17
    listed $136,000 Active 395-char remark

    Show marketing remark (395 chars)

    Freshly updated 2 bedroom 1 bath home with a fenced backyard and patio that is perfect for relaxing or entertaining. Many updates and maintenance-free exterior improvements, a built-in electric fireplace adds character to the living room, Conveniently located within walking distance to schools and downtown, this home blends charm, updates, and location beautifully. Currently run as an AirBnb.

20. 2025-04-16
    soldstatus $90,000
21. 2025-04-11
    soldstatus $90,000 Closed 446-char remark

    Show marketing remark (446 chars)

    Almost completely renovated from top to bottom! Check out this move-in ready 2 bedroom, 1 bath in a convenient in-town location, with a price that could be cheaper than renting! Electric, plumbing, most windows, and water heater were all updated in 2022, while the flooring, drywall, paint, kitchen, bath, fixtures, and siding were all updated in 2024. The home also features a metal roof. All renovations were completed by a licensed contractor.

22. 2025-04-11
    soldstatus $90,000 Closed 446-char remark

    Show marketing remark (446 chars)

    Almost completely renovated from top to bottom! Check out this move-in ready 2 bedroom, 1 bath in a convenient in-town location, with a price that could be cheaper than renting! Electric, plumbing, most windows, and water heater were all updated in 2022, while the flooring, drywall, paint, kitchen, bath, fixtures, and siding were all updated in 2024. The home also features a metal roof. All renovations were completed by a licensed contractor.

23. 2025-02-07
    status Pending 446-char remark

    Show marketing remark (446 chars)

    Almost completely renovated from top to bottom! Check out this move-in ready 2 bedroom, 1 bath in a convenient in-town location, with a price that could be cheaper than renting! Electric, plumbing, most windows, and water heater were all updated in 2022, while the flooring, drywall, paint, kitchen, bath, fixtures, and siding were all updated in 2024. The home also features a metal roof. All renovations were completed by a licensed contractor.

24. 2025-02-07
    status Pending 446-char remark

    Show marketing remark (446 chars)

    Almost completely renovated from top to bottom! Check out this move-in ready 2 bedroom, 1 bath in a convenient in-town location, with a price that could be cheaper than renting! Electric, plumbing, most windows, and water heater were all updated in 2022, while the flooring, drywall, paint, kitchen, bath, fixtures, and siding were all updated in 2024. The home also features a metal roof. All renovations were completed by a licensed contractor.

25. 2025-01-31
    status Active 446-char remark

    Show marketing remark (446 chars)

    Almost completely renovated from top to bottom! Check out this move-in ready 2 bedroom, 1 bath in a convenient in-town location, with a price that could be cheaper than renting! Electric, plumbing, most windows, and water heater were all updated in 2022, while the flooring, drywall, paint, kitchen, bath, fixtures, and siding were all updated in 2024. The home also features a metal roof. All renovations were completed by a licensed contractor.

26. 2025-01-21
    historical Keep Showing-Contgcy Appl 446-char remark

    Show marketing remark (446 chars)

    Almost completely renovated from top to bottom! Check out this move-in ready 2 bedroom, 1 bath in a convenient in-town location, with a price that could be cheaper than renting! Electric, plumbing, most windows, and water heater were all updated in 2022, while the flooring, drywall, paint, kitchen, bath, fixtures, and siding were all updated in 2024. The home also features a metal roof. All renovations were completed by a licensed contractor.

27. 2025-01-15
    listed $99,900 Active 446-char remark

    Show marketing remark (446 chars)

    Almost completely renovated from top to bottom! Check out this move-in ready 2 bedroom, 1 bath in a convenient in-town location, with a price that could be cheaper than renting! Electric, plumbing, most windows, and water heater were all updated in 2022, while the flooring, drywall, paint, kitchen, bath, fixtures, and siding were all updated in 2024. The home also features a metal roof. All renovations were completed by a licensed contractor.

28. 2025-01-15
    listed $99,900 Active 446-char remark

    Show marketing remark (446 chars)

    Almost completely renovated from top to bottom! Check out this move-in ready 2 bedroom, 1 bath in a convenient in-town location, with a price that could be cheaper than renting! Electric, plumbing, most windows, and water heater were all updated in 2022, while the flooring, drywall, paint, kitchen, bath, fixtures, and siding were all updated in 2024. The home also features a metal roof. All renovations were completed by a licensed contractor.

ⓘ 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: $756 · $63/mo
• Projected year-2 tax: $1,636 · $136/mo
• Expected delta: +$880/yr (+$73/mo · 116.4%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥92°F today · 14 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: $13,235
• − Mortgage interest: −$7,618
• − Property taxes: −$756
• − Insurance: −$680
• − Repairs & maintenance: −$1,059
• − Management: −$1,059
• − Depreciation: −$3,956
• Taxable loss: −$1,894
• Est. tax savings @ 24.0%: +$454
• After-tax cash flow: $915/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: Florence County School District
• NCES district ID: 5504650
• Math proficiency: 35% ▬ 0.00%
• Reading proficiency: 40% ▬ 0.00%
• Median HH income: $45,179
• Composite: 34.48/100
• National rank: #10144
• State rank: #293 of 426 in WI

Livability — Florence

• Score: 62/100
• State rank: #646
• US rank: #17051

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Florence, WI
• Population (ZIP): 3,213

Population outlook (Florence County) Hauer SSP2

• Today (2025): 4,537 people
• By 2030: 4,511 · -0.6%
• By 2040: 4,301 · -5.2%
• By 2050: 3,904 · -14.0%
• By 2075: 3,192 · -29.6%
• By 2100: 2,459 · -45.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 2%
• Common ancestry: Romanian 9% Lithuanian 8% Iranian 4%
• Foreign-born: 0%
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Florence

• 2024 margin: Solid R (+49.8) · D 24.8% · R 74.6%
• 2008→2024 swing: -35.7pp toward R · 2008: -14.1pp · 2024: -49.8pp
• All cycles: 2024: R+49.8 2020: R+46.0 2016: R+46.4 2012: R+26.4 2008: R+14.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 21.22%
• Current HPI: 210.0264
• 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

+36.1% since first listed

11 events — show timeline

• 2026-04-17 Listed $136,000 MiRealSource-MiMLS
• 2026-04-17 Listed $136,000 UPAR
• 2025-04-16 Sold (Public Records) $90,000 Public Records
• 2025-04-11 Sold (MLS) $90,000 MiRealSource-MiMLS
• 2025-04-11 Sold (MLS) $90,000 UPAR
• 2025-02-07 Pending — UPAR
• 2025-02-07 Pending — MiRealSource-MiMLS
• 2025-01-31 Relisted — MiRealSource-MiMLS
• 2025-01-21 Contingent — MiRealSource-MiMLS
• 2025-01-15 Listed $99,900 UPAR
• 2025-01-15 Listed $99,900 MiRealSource-MiMLS

Property tax history

+9.1%/yr

Latest (2025): $756 · -26.4% YoY. Source: county tax records.