1090 N 2nd St · Platteville, WI 53818

$165,000

4 bd · 1.5 ba · 1,552 sqft · SingleFamily · 32 Days on market

Built 1890 0.37 ac lot Est $219k · 25% 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 +21.6/30.0
• ARV discount +15.0/15.0
• DSCR +6.9/10.0
• 1% rule +5.4/10.0
• Schools +4.0/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Being sold "AS IS" Bring your vision and tools to this 4-bedroom, 1.5-bath home full of potential! Located in a desirable neighborhood within walking distance to two city parks and the recently updated city pool, this property offers a great opportunity for investors, flippers, or handy buyers looking to build equity. The home is in need of updating and repairs, including foundation work, chimney repairs, and upgrading the current fuse box to breakers. Spacious layout with solid potential to restore and customize to your style. Whether you are looking for your next project or an affordable home to make your own, this property is priced with condition in mind and ready for its nex

Key facts

• Chimney repairs
• Foundation work
• Updated city pool

Tags

• WALKING DISTANCE TO PARKS
• UPDATED CITY POOL
• FOUNDATION WORK
• CHIMNEY REPAIRS
• UPGRADING FUSE BOX

Property features AI

Finance

• Other: Seller may leave additional items; stove, refrigerator, washer and dryer are included but not guaranteed

Exterior

• Parking: Detached 2-car garage
• Utilities: Municipal water; Municipal sewer; Natural gas
• Home design: Two-story single-family home; Estimated living area in the range 1,501–1,750
• Construction: Assessor/public records used for year-built information
• Exterior features: Wood exterior; Sidewalks on the lot

Interior

• Kitchen: Range/oven; Refrigerator
• Bedrooms: Master bedroom (Upper) approximately 10 x 14; Bedroom 2 (Upper) approximately 11 x 11; Bedroom 3 (Upper) approximately 9 x 12; Bedroom 4 (Upper) approximately 10 x 12
• Bathrooms: One full bathroom; One half bathroom; No master bathroom
• Heating & cooling: Forced air heating (natural gas)
• Interior features: Walk-up attic; High-speed internet
• Laundry & utility: Washer and dryer included

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $250 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Recommended offer: $160k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.1% vs local median 3.6% in Platteville — 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 80/100 on livability (#57 in WI, #1,617 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, cost of living A+, health & safety A+; Watch: commute F, employment D-.
• Platteville School District (town): math 52% / reading 42% proficiency, ranked #85 of 342 in WI (top 25%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Westview Elementary (math 62% / reading 42%, grade C-, #215 of 1,041 statewide, top 23%, 448 students, 42% FRL); Platteville High (math 32% / reading 32%, grade F, #184 of 483 statewide, top 41%, 496 students, 37% FRL).
• Market conditions: 49 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 120 units permitted in Grant County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Grant County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 32 days — a 3% lower offer ($160k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $160,050 (3.0% below list)

Questions for the listing agent

1. It's been on market 32 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 1.04% ✓
• Cap rate: 8.11%
• Cash-on-cash: 6.49%
• DSCR: 1.29
• GRM: 8.0

CMA / ARV

• ARV (on-the-fly): $218,832
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
620 N Elm St	0.41mi	3/2.0 (-1)	1,540 (-1%)	1mo	$237,500	$154	72
1010 Mound View Ct	0.26mi	3/1.5 (-1)	1,422 (-8%)	1mo	$240,000	$169	68
715 Sickle St	0.35mi	3/1.5 (-1)	1,491 (-4%)	6mo	$259,000	$174	67
180 E Dewey St	0.36mi	3/1.5 (-1)	1,655 (+7%)	7mo	$217,500	$131	61
355 Elmer St	0.43mi	3/1.5 (-1)	1,488 (-4%)	9mo	$225,000	$151	60
40 Lewis St	0.45mi	3/1.5 (-1)	1,456 (-6%)	7mo	$205,000	$141	57
725 Jefferson St	0.34mi	3/1.0 (-1)	1,411 (-9%)	6mo	$57,500	$41	57
1170 Hathaway St	0.72mi	4/1.0	1,596 (+3%)	6mo	$162,000	$102	54
245 N Bonson St	0.63mi	4/1.0	1,424 (-8%)	1mo	$151,900	$107	54
250 E Dewey St	0.38mi	3/2.0 (-1)	1,360 (-12%)	1mo	$190,000	$140	54
872 Northside Dr	0.50mi	3/1.5 (-1)	1,754 (+13%)	9mo	$349,900	$199	42
225 N Water St	0.65mi	3/1.0 (-1)	1,332 (-14%)	5mo	$80,000	$60	35

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -6.3%
• Equity multiple: 0.77×
• Total profit: $-10,806
• Equity at exit: $24,602

10-year hold

• IRR: 3.3%
• Equity multiple: 1.24×
• Total profit: $11,122
• Equity at exit: $14,266

Cash invested: $46,200 (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 53818

• Active inventory: 49
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,720 medium
• Mortgage (P&I): −$865
• Tax from tax record: −$175 /mo · $2,097/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$361
• Net cashflow: $250

Break-even live

Break-even rent $1,404

Max offer price $165,000

Occupancy floor 80%

Sensitivity live

Price	-10% $343	-5% $297	+0% $250	+5% $203	+10% $157
Rent	-10% $114	-5% $182	+0% $250	+5% $318	+10% $386
Rate	-1.0pp $333	-0.5pp $292	base $250	+0.5pp $207	+1.0pp $164

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
685 Camp St Platteville, WI	4.0	2.0	1512	$1,720	$1.14	44d	1	0.65mi
687 Camp St Platteville, WI	4.0	2.0	1512	$1,720	$1.14	44d	1	0.66mi
755 Washington St Platteville, WI	4.0	2.0	1512	$1,720	$1.14	44d	1	0.66mi

Listing history 17 events

1. 2026-06-21
   days on market $165,000 Active 32 DOM
2. 2026-06-18
   days on market $165,000 Active 30 DOM
3. 2026-06-17
   days on market $165,000 Active 29 DOM
4. 2026-06-16
   days on market $165,000 Active 28 DOM
5. 2026-06-15
   days on market $165,000 Active 27 DOM
6. 2026-06-15
   days on market $165,000 Active 26 DOM
7. 2026-06-13
   days on market $165,000 Active 25 DOM
8. 2026-06-12
   days on market $165,000 Active 24 DOM
9. 2026-06-09
   days on market $165,000 Active 21 DOM
10. 2026-06-08
    days on market $165,000 Active 20 DOM
11. 2026-06-08
    days on market $165,000 Active 19 DOM
12. 2026-06-05
    days on market $165,000 Active 17 DOM
13. 2026-06-03
    days on market $165,000 Active 15 DOM
14. 2026-06-02
    days on market $165,000 Active 14 DOM
15. 2026-06-01
    days on market $165,000 Active 13 DOM
16. 2026-05-31
    days on market $165,000 Active 12 DOM
17. 2026-05-19
    listed $165,000 Active

ⓘ 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: $2,097 · $175/mo
• Projected year-2 tax: $2,575 · $215/mo
• Expected delta: +$478/yr (+$40/mo · 22.8%)

ⓘ 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 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥100°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,640
• − Mortgage interest: −$9,243
• − Property taxes: −$2,097
• − Insurance: −$825
• − Repairs & maintenance: −$1,651
• − Management: −$1,651
• − Depreciation: −$4,800
• Taxable income: $373
• Est. tax owed @ 24.0%: −$90
• After-tax cash flow: $2,911/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: Platteville School District
• NCES district ID: 5511850
• Math proficiency: 52% ▼ -8.00%
• Reading proficiency: 42% ▼ -12.00%
• Median HH income: $44,913
• Composite: 39.87/100
• National rank: #3863
• State rank: #85 of 342 in WI

Livability — Platteville

• Score: 80/100
• State rank: #57
• US rank: #1617

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Platteville, WI
• City population: 15,843
• Population (ZIP): 15,843

Population outlook (Grant County) Hauer SSP2

• Today (2025): 53,982 people
• By 2030: 55,104 · +2.1%
• By 2040: 57,353 · +6.2%
• By 2050: 59,315 · +9.9%
• By 2075: 65,496 · +21.3%
• By 2100: 66,508 · +23.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Hispanic / Latino 3% Black 3% Two or more races 3% Asian 2%
• Common ancestry: Portuguese 7% Romanian 5% Iranian 3%
• Foreign-born: 2% · Canada
• Languages at home: 94% English-only · German/W. Germanic 3% Spanish 1% Other Asian/Pacific 1%

Political lean MEDSL · Grant

• 2024 margin: R (+18.2) · D 40.2% · R 58.4% · Other 1.3%
• 2008→2024 swing: -42.0pp toward R · 2008: 23.9pp · 2024: -18.2pp
• All cycles: 2024: R+18.2 2020: R+12.3 2016: R+9.6 2012: D+13.7 2008: D+23.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -129.66%
• Current HPI: 189.3094
• 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

1 event — show timeline

• 2026-05-19 Listed $165,000 SCWMLS

Property tax history

+1.5%/yr

Latest (2025): $2,097 · +5.9% YoY. Source: county tax records.