W2497 Prairie Dr · Schley, WI 54452

$69,900

2 bd · 1.0 ba · 680 sqft · Other · 378 Days on market

Built 1955 4,356 sqft lot

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Looking for that property outside of the city limits under $100,000? This property is located in the town of Schley not that far from the City of Merrill. Also close to the Prairie River. This home has an updated kitchen, some flooring, some repainting already done. 2 Bedrooms and 1bathroom. Currently property is being rented and this property could be sold in a package deal with 9 other properties located in the Merrill area.

Key facts

• Located in schley
• Updated kitchen
• 4,356 sq ft lot

Tags

• UPDATED KITCHEN
• LOCATED IN SCHLEY
• CLOSE TO PRAIRIE RIVER

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $70k.

Deal economics

• At list price, monthly cash flow is $430 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $62k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Merrill Area School District (town): math 38% / reading 39% proficiency, ranked #180 of 342 in WI (top 53%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 73 active listings in the ZIP; 192 units permitted in Lincoln County in 2024 (41 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $483 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Lincoln County population projected at -26% 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 $20k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 378 days — a 12% lower offer ($62k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 4y ago; this cycle's ask has dropped $10k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $53k; 32% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $61,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 378 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.69% ✓
• Cap rate: 14.63%
• Cash-on-cash: 29.76%
• DSCR: 2.32
• GRM: 4.9

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: 20.2%
• Equity multiple: 1.82×
• Total profit: $16,079
• Equity at exit: $10,422

10-year hold

• IRR: 28.4%
• Equity multiple: 3.52×
• Total profit: $49,373
• Equity at exit: $6,044

Cash invested: $19,572 (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 54452

• Active inventory: 73
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,181 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$52 /mo · $620/yr
• Insurance: −$29
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$248
• Net cashflow: $430

Break-even live

Break-even rent $637

Max offer price $69,900

Occupancy floor 59%

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-18
   days on market $69,900 Active 378 DOM
2. 2026-06-17
   days on market $69,900 Active 377 DOM
3. 2026-06-16
   days on market $69,900 Active 376 DOM
4. 2026-06-15
   days on market $69,900 Active 375 DOM
5. 2026-06-15
   days on market $69,900 Active 374 DOM
6. 2026-06-13
   days on market $69,900 Active 373 DOM
7. 2026-06-12
   days on market $69,900 Active 372 DOM
8. 2026-06-09
   days on market $69,900 Active 369 DOM
9. 2026-06-08
   days on market $69,900 Active 368 DOM
10. 2026-06-08
    days on market $69,900 Active 367 DOM
11. 2026-06-07
    days on market $69,900 Active 366 DOM
12. 2026-06-03
    days on market $69,900 Active 363 DOM
13. 2026-06-02
    days on market $69,900 Active 362 DOM
14. 2026-06-01
    days on market $69,900 Active 361 DOM
15. 2026-05-31
    days on market $69,900 Active 360 DOM
16. 2026-01-30
    price $69,900 431-char remark

    Show marketing remark (431 chars)

    Looking for that property outside of the city limits under $100,000? This property is located in the town of Schley not that far from the City of Merrill. Also close to the Prairie River. This home has an updated kitchen, some flooring, some repainting already done. 2 Bedrooms and 1bathroom. Currently property is being rented and this property could be sold in a package deal with 9 other properties located in the Merrill area.

17. 2026-01-29
    price $69,900 428-char remark

    Show marketing remark (428 chars)

    Looking for that property outside of the city limits under $100,000? This property is located in the town of Schley not that far from the City of Merrill. Also close to the Prairie River. This home has an updated kitchen, some flooring, some repainting already done. 2 Bedrooms and 1bathroom. Currently property is being rented and this property could be sold in a package deal with other properties located in the Merrill area.

18. 2025-12-23
    price $72,900 431-char remark

    Show marketing remark (428 chars)

    Looking for that property outside of the city limits under $100,000? This property is located in the town of Schley not that far from the City of Merrill. Also close to the Prairie River. This home has an updated kitchen, some flooring, some repainting already done. 2 Bedrooms and 1bathroom. Currently property is being rented and this property could be sold in a package deal with other properties located in the Merrill area.

19. 2025-12-23
    price $72,900 428-char remark

    Show marketing remark (428 chars)

    Looking for that property outside of the city limits under $100,000? This property is located in the town of Schley not that far from the City of Merrill. Also close to the Prairie River. This home has an updated kitchen, some flooring, some repainting already done. 2 Bedrooms and 1bathroom. Currently property is being rented and this property could be sold in a package deal with other properties located in the Merrill area.

20. 2025-11-21
    price $74,900 431-char remark

    Show marketing remark (428 chars)

    Looking for that property outside of the city limits under $100,000? This property is located in the town of Schley not that far from the City of Merrill. Also close to the Prairie River. This home has an updated kitchen, some flooring, some repainting already done. 2 Bedrooms and 1bathroom. Currently property is being rented and this property could be sold in a package deal with other properties located in the Merrill area.

21. 2025-11-21
    price $74,900 428-char remark

    Show marketing remark (428 chars)

    Looking for that property outside of the city limits under $100,000? This property is located in the town of Schley not that far from the City of Merrill. Also close to the Prairie River. This home has an updated kitchen, some flooring, some repainting already done. 2 Bedrooms and 1bathroom. Currently property is being rented and this property could be sold in a package deal with other properties located in the Merrill area.

22. 2025-06-05
    listed $79,900 Active 428-char remark

    Show marketing remark (428 chars)

    Looking for that property outside of the city limits under $100,000? This property is located in the town of Schley not that far from the City of Merrill. Also close to the Prairie River. This home has an updated kitchen, some flooring, some repainting already done. 2 Bedrooms and 1bathroom. Currently property is being rented and this property could be sold in a package deal with other properties located in the Merrill area.

23. 2025-06-04
    listed $79,900 Active 431-char remark

    Show marketing remark (431 chars)

    Looking for that property outside of the city limits under $100,000? This property is located in the town of Schley not that far from the City of Merrill. Also close to the Prairie River. This home has an updated kitchen, some flooring, some repainting already done. 2 Bedrooms and 1bathroom. Currently property is being rented and this property could be sold in a package deal with 9 other properties located in the Merrill area.

24. 2024-04-22
    listed $89,900 Active
25. 2022-10-02
    soldstatus $52,900
26. 2022-09-30
    soldstatus $52,900
27. 2022-09-08
    listed $52,900
28. 2017-12-11
    soldstatus $29,000

ⓘ 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: $620 · $52/mo
• Projected year-2 tax: $957 · $80/mo
• Expected delta: +$337/yr (+$28/mo · 54.3%)

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥93°F today · 12 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: $14,168
• − Mortgage interest: −$3,915
• − Property taxes: −$620
• − Insurance: −$1,016
• − Repairs & maintenance: −$1,133
• − Management: −$1,133
• − Depreciation: −$2,033
• Taxable income: $4,316
• Est. tax owed @ 24.0%: −$1,036
• After-tax cash flow: $4,122/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: Merrill Area School District
• NCES district ID: 5509210
• Math proficiency: 38% ▲ 1.00%
• Reading proficiency: 39% ▲ 4.00%
• Median HH income: $50,419
• Composite: 33.3/100
• National rank: #5507
• State rank: #180 of 342 in WI

Livability — Schley

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 18,949

Population outlook (Lincoln County) Hauer SSP2

• Today (2025): 26,476 people
• By 2030: 25,399 · -4.1%
• By 2040: 22,684 · -14.3%
• By 2050: 19,596 · -26.0%
• By 2075: 13,998 · -47.1%
• By 2100: 9,732 · -63.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Romanian 10% Portuguese 6% Iranian 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Lincoln

• 2024 margin: Strong R (+25.2) · D 36.7% · R 61.9% · Other 1.4%
• 2008→2024 swing: -37.6pp toward R · 2008: 12.5pp · 2024: -25.2pp
• All cycles: 2024: R+25.2 2020: R+22.8 2016: R+20.8 2012: D+0.7 2008: D+12.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -107.99%
• Current HPI: 192.6923
• 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

+141.0% since first listed

13 events — show timeline

• 2026-01-30 Price Changed $69,900 CWMLS
• 2026-01-29 Price Changed $69,900 GNMLS
• 2025-12-23 Price Changed $72,900 CWMLS
• 2025-12-23 Price Changed $72,900 GNMLS
• 2025-11-21 Price Changed $74,900 CWMLS
• 2025-11-21 Price Changed $74,900 GNMLS
• 2025-06-05 Listed $79,900 GNMLS
• 2025-06-04 Listed $79,900 CWMLS
• 2024-04-22 Listed $89,900 GNMLS
• 2022-10-02 Sold (Public Records) $52,900 Public Records
• 2022-09-30 Sold (MLS) $52,900 GNMLS
• 2022-09-08 Listed $52,900 GNMLS
• 2017-12-11 Sold (Public Records) $29,000 Public Records

Property tax history

+2.6%/yr

Latest (2025): $620 · +16.5% YoY. Source: county tax records.