36 Pennsylvania Ave · Montreal, WI 54525

$129,900

4 bd · 2.0 ba · 1,850 sqft · Other · 16 Days on market

Built 1930 0.32 ac lot

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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 +23.8/30.0
• DSCR +7.7/10.0
• ARV discount +7.5/15.0
• 1% rule +5.9/10.0
• Appreciation +5.0/10.0
• Schools +3.6/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Discover the potential of this fantastic 4-bedroom, 2-bathroom home located in the highly sought-after Gile area! This property offers an excellent opportunity for those looking to put their personal touch on a home that already boasts some wonderful features. Enjoy the convenience of a main floor bedroom and bath, along with a bonus room that was thoughtfully added for extra space – perfect for a playroom, or additional living area. Hardwood flooring flows throughout the main living areas, providing a warm and inviting atmosphere. There is a generous backyard, offering ample space for gardening, entertaining, or simply relaxing in nature. Benefit from not one, but two two-car garages! One of the garages is just one year old, providing fantastic storage or workshop space. Endless Potential: While this home may need a little TLC, the layout and unique features provide an incredible blank canvas for buyers looking to invest in their dream home with a bit of work and dedication. Located in a friendly neighborhood with easy access to local amenities, parks, and schools, this property is a must-see! Don't miss out on the chance to make this charming home your own. Schedule a showing today and explore all the possibilities it has to offer!

Key facts

• Hardwood flooring
• Two two-car garages
• Bonus room

Tags

• MAIN FLOOR BEDROOM
• BONUS ROOM
• HARDWOOD FLOORING
• GENEROUS BACKYARD
• TWO TWO-CAR GARAGES
• ONE YEAR OLD GARAGE

Property features AI

Exterior

• Parking: Detached garage(s); Additional second garage; Electric in garage; 4 parking spaces in garage
• Utilities: Electricity connected; Natural gas connected; Public water at street; Public sewer at street
• Home design: Residential 2-story; Built in 1930; Basement present; Located in Gile / Montreal C area
• Construction: Vinyl siding exterior; Basement foundation; Stone basement; Year built 1930
• Exterior features: Vinyl siding; Large lot (100 ft frontage); Road frontage; No water features

Interior

• Kitchen: Range/oven; Refrigerator
• Bedrooms: Main-level bedroom (12 x 12); Second-floor bedroom (11 x 9); Second-floor bedroom (approx. 12 wide); Second-floor bedroom (14 x 11); First-floor bedroom
• Flooring: Hardwood floors
• Bathrooms: Main floor full bathroom; Two full bathrooms (total)
• Heating & cooling: Forced air heating; Central A/C; Electric heat fuel; Gas water heater
• Interior features: Hardwood floors; Gas fireplace (one)
• Laundry & utility: Washer; Dryer; Full basement (stone foundation)

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath other listed at $130k.

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 ($1k rent vs $130k).
• Recommended offer: $128k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#532 in WI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, schools D+, amenities F.
• Hurley School District (rural): math 41% / reading 46% proficiency, ranked #134 of 342 in WI (top 39%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 2 active listings in the ZIP; 62 units permitted in Iron County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($898 loan paydown + $4k appreciation (3.0% local appreciation)).
• Iron County population projected at -23% 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 $36k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• 2 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 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $127,951 (1.5% below list)

Questions for the listing agent

1. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 1.09% ✓
• Cap rate: 8.60%
• Cash-on-cash: 8.26%
• DSCR: 1.37
• GRM: 7.6

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: 15.2%
• Equity multiple: 1.87×
• Total profit: $31,589
• Equity at exit: $58,409

10-year hold

• IRR: 16.9%
• Equity multiple: 3.48×
• Total profit: $90,147
• Equity at exit: $90,015

Cash invested: $36,372 (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 54525

• Active inventory: 2
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,418 medium
• Mortgage (P&I): −$681
• Tax from tax record: −$134 /mo · $1,613/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$298
• Net cashflow: $250

Break-even live

Break-even rent $1,101

Max offer price $129,900

Occupancy floor 77%

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-18
   days on market $129,900 Active 16 DOM
2. 2026-06-17
   days on market $129,900 Active 15 DOM
3. 2026-06-16
   days on market $129,900 Active 14 DOM
4. 2026-06-15
   days on market $129,900 Active 13 DOM
5. 2026-06-15
   days on market $129,900 Active 12 DOM
6. 2026-06-13
   days on market $129,900 Active 11 DOM
7. 2026-06-12
   days on market $129,900 Active 10 DOM
8. 2026-06-09
   days on market $129,900 Active 7 DOM
9. 2026-06-08
   days on market $129,900 Active 6 DOM
10. 2026-06-08
    days on market $129,900 Active 5 DOM
11. 2026-06-05
    days on market $129,900 Active 3 DOM
12. 2026-06-02
    remarks 693-char remark

    Show marketing remark (1260 chars)

    Discover the potential of this fantastic 4-bedroom, 2-bathroom home located in the highly sought-after Gile area! This property offers an excellent opportunity for those looking to put their personal touch on a home that already boasts some wonderful features. Enjoy the convenience of a main floor bedroom and bath, along with a bonus room that was thoughtfully added for extra space – perfect for a playroom, or additional living area. Hardwood flooring flows throughout the main living areas, providing a warm and inviting atmosphere. There is a generous backyard, offering ample space for gardening, entertaining, or simply relaxing in nature. Benefit from not one, but two two-car garages! One of the garages is just one year old, providing fantastic storage or workshop space. Endless Potential: While this home may need a little TLC, the layout and unique features provide an incredible blank canvas for buyers looking to invest in their dream home with a bit of work and dedication. Located in a friendly neighborhood with easy access to local amenities, parks, and schools, this property is a must-see! Don't miss out on the chance to make this charming home your own. Schedule a showing today and explore all the possibilities it has to offer!

13. 2026-06-02
    listed $129,900 Active 1 DOM

    Show marketing remark (1260 chars)

    Discover the potential of this fantastic 4-bedroom, 2-bathroom home located in the highly sought-after Gile area! This property offers an excellent opportunity for those looking to put their personal touch on a home that already boasts some wonderful features. Enjoy the convenience of a main floor bedroom and bath, along with a bonus room that was thoughtfully added for extra space – perfect for a playroom, or additional living area. Hardwood flooring flows throughout the main living areas, providing a warm and inviting atmosphere. There is a generous backyard, offering ample space for gardening, entertaining, or simply relaxing in nature. Benefit from not one, but two two-car garages! One of the garages is just one year old, providing fantastic storage or workshop space. Endless Potential: While this home may need a little TLC, the layout and unique features provide an incredible blank canvas for buyers looking to invest in their dream home with a bit of work and dedication. Located in a friendly neighborhood with easy access to local amenities, parks, and schools, this property is a must-see! Don't miss out on the chance to make this charming home your own. Schedule a showing today and explore all the possibilities it has to offer!

ⓘ 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: $1,613 · $134/mo
• Projected year-2 tax: $2,008 · $167/mo
• Expected delta: +$395/yr (+$33/mo · 24.5%)

ⓘ 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 1/10 Low 7 d/yr ≥90°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: $17,013
• − Mortgage interest: −$7,276
• − Property taxes: −$1,613
• − Insurance: −$650
• − Repairs & maintenance: −$1,361
• − Management: −$1,361
• − Depreciation: −$3,779
• Taxable income: $973
• Est. tax owed @ 24.0%: −$233
• After-tax cash flow: $2,769/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: Hurley School District
• NCES district ID: 5506750
• Math proficiency: 41% ▼ -10.00%
• Reading proficiency: 46% ▲ 3.00%
• Median HH income: $37,702
• Composite: 36.21/100
• National rank: #4729
• State rank: #134 of 342 in WI

Livability — Montreal

• Score: 64/100
• State rank: #532
• US rank: #13674

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Montreal, WI
• City population: 311
• Population (ZIP): 311

Population outlook (Iron County) Hauer SSP2

• Today (2025): 5,630 people
• By 2030: 5,446 · -3.3%
• By 2040: 4,887 · -13.2%
• By 2050: 4,345 · -22.8%
• By 2075: 3,844 · -31.7%
• By 2100: 3,561 · -36.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Two or more races 6% Hispanic / Latino 5% Native American 4%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Romanian 9% Iranian 3% Slovak 1%
• Foreign-born: 2% · Canada

Political lean MEDSL · Iron

• 2024 margin: Strong R (+26.2) · D 36.5% · R 62.7%
• 2008→2024 swing: -39.3pp toward R · 2008: 13.1pp · 2024: -26.2pp
• All cycles: 2024: R+26.2 2020: R+22.6 2016: R+23.5 2012: R+0.1 2008: D+13.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

+0.0% since first listed

2 events — show timeline

• 2026-06-02 Listed $129,900 UPAR
• 2026-06-02 Listed $129,900 MiRealSource-MiMLS

Property tax history

+2.4%/yr

Latest (2025): $1,613 · +15.4% YoY. Source: county tax records.