421 3rd Ave · Park Falls, WI 54552

$99,900

5 bd · 2.0 ba · 1,783 sqft · Other · 219 Days on market

Built 1940 0.30 ac lot $56/sqft · 37% below area Est $158k · 37% under

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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 +27.6/30.0
• ARV discount +15.0/15.0
• DSCR +9.7/10.0
• 1% rule +8.0/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

(358/DW) This custom-built home features 5 bedrooms and 2 baths and is located on 3rd Ave in Park Falls on a roomy 110?x120? corner lot. Home features a roomy living room with a wood-burning fireplace and built-ins. There is a dining room with a bow window which looks out to the wooded back yard. Step saver kitchen with oak cabinets, appliances included. 3 bedrooms and a full bath complete the main level. The upper level features 2 nice-sized bedrooms with hardwood floors and some built-ins and a full bathroom. The home has plenty of great storage options. The lower walkout level features a free standing wood fireplace in a family room and has a laundry room and a utility room. The exterior is wood-type siding and the roof has been reshingled in the past 2 years. There is a one car tuck-under garage, circular drive and nicely wooded backyard. A Family Pleaser, See It Today! $99,900.

Key facts

• Oak cabinets
• Bow window
• Hardwood floors

Tags

• WOOD BURNING FIREPLACE
• BOW WINDOW
• OAK CABINETS
• HARDWOOD FLOORS
• GREAT STORAGE OPTIONS
• FREE STANDING WOOD FIREPLACE

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath other listed at $100k.

Deal economics

• At list price, monthly cash flow is $297 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $88k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 69/100 on livability (#329 in WI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A-; Watch: employment D, schools D-, amenities F.
• Chequamegon School District (rural): math 25% / reading 29% proficiency, ranked #303 of 342 in WI (top 89%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 74 active listings in the ZIP; 47 units permitted in Price County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Price County population projected at -25% 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 $28k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 219 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $20k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $49k; list at $100k implies a 104% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $87,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 219 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 1940 — 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: 1.30% ✓
• Cap rate: 9.86%
• Cash-on-cash: 12.75%
• DSCR: 1.57
• GRM: 6.4

CMA / ARV

• ARV (median comp): $157,553
• List price: $99,900
• Delta: -36.59%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 2.6%
• Equity multiple: 1.10×
• Total profit: $2,779
• Equity at exit: $14,895

10-year hold

• IRR: 12.2%
• Equity multiple: 1.96×
• Total profit: $26,957
• Equity at exit: $8,638

Cash invested: $27,972 (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 54552

• Home prices YoY: -27.7%
• Active inventory: 74
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,294 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$160 /mo · $1,920/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$272
• Net cashflow: $297

Break-even live

Break-even rent $918

Max offer price $99,900

Occupancy floor 72%

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-18
   days on market $99,900 Active 219 DOM
2. 2026-06-17
   days on market $99,900 Active 218 DOM
3. 2026-06-16
   days on market $99,900 Active 217 DOM
4. 2026-06-15
   days on market $99,900 Active 216 DOM
5. 2026-06-15
   days on market $99,900 Active 215 DOM
6. 2026-06-13
   days on market $99,900 Active 214 DOM
7. 2026-06-12
   days on market $99,900 Active 213 DOM
8. 2026-06-09
   days on market $99,900 Active 210 DOM
9. 2026-06-08
   days on market $99,900 Active 209 DOM
10. 2026-06-08
    days on market $99,900 Active 208 DOM
11. 2026-06-05
    days on market $99,900 Active 206 DOM
12. 2026-06-03
    days on market $99,900 Active 204 DOM
13. 2026-06-02
    days on market $99,900 Active 203 DOM
14. 2026-06-01
    days on market $99,900 Active 202 DOM
15. 2026-05-31
    days on market $99,900 Active 201 DOM
16. 2026-04-22
    price $99,900 895-char remark

    Show marketing remark (999 chars)

    (358/DW) This custom-built home features 5 bedrooms and 2 baths and is located on 3rd Ave in Park Falls on a roomy 110’x120’ corner lot. Home features a roomy living room with a wood-burning fireplace and built-ins. There is a dining room with a bow window which looks out to the wooded back yard. Step saver kitchen with oak cabinets, appliances included. 3 bedrooms and a full bath complete the main level. The upper level features 2 nice-sized bedrooms with hardwood floors and some built-ins and a full bathroom. The home has plenty of great storage options. The lower walkout level features a free standing wood fireplace in a family room and has a laundry room and a utility room. The exterior is wood-type siding and the roof has been reshingled in the past 2 years. There is a one car tuck-under garage, circular drive and nicely wooded backyard. A Family Pleaser, See It Today! $99,900. 2025 taxes: $1,920. (Lots 2 and 3 of Block 32 and N 10’ of Lot 6 Block 32. 23-40N-1W)

17. 2026-04-22
    price $99,900 999-char remark

    Show marketing remark (999 chars)

    (358/DW) This custom-built home features 5 bedrooms and 2 baths and is located on 3rd Ave in Park Falls on a roomy 110’x120’ corner lot. Home features a roomy living room with a wood-burning fireplace and built-ins. There is a dining room with a bow window which looks out to the wooded back yard. Step saver kitchen with oak cabinets, appliances included. 3 bedrooms and a full bath complete the main level. The upper level features 2 nice-sized bedrooms with hardwood floors and some built-ins and a full bathroom. The home has plenty of great storage options. The lower walkout level features a free standing wood fireplace in a family room and has a laundry room and a utility room. The exterior is wood-type siding and the roof has been reshingled in the past 2 years. There is a one car tuck-under garage, circular drive and nicely wooded backyard. A Family Pleaser, See It Today! $99,900. 2025 taxes: $1,920. (Lots 2 and 3 of Block 32 and N 10’ of Lot 6 Block 32. 23-40N-1W)

18. 2025-11-10
    listed $119,900 Active 895-char remark

    Show marketing remark (999 chars)

    (358/DW) This custom-built home features 5 bedrooms and 2 baths and is located on 3rd Ave in Park Falls on a roomy 110’x120’ corner lot. Home features a roomy living room with a wood-burning fireplace and built-ins. There is a dining room with a bow window which looks out to the wooded back yard. Step saver kitchen with oak cabinets, appliances included. 3 bedrooms and a full bath complete the main level. The upper level features 2 nice-sized bedrooms with hardwood floors and some built-ins and a full bathroom. The home has plenty of great storage options. The lower walkout level features a free standing wood fireplace in a family room and has a laundry room and a utility room. The exterior is wood-type siding and the roof has been reshingled in the past 2 years. There is a one car tuck-under garage, circular drive and nicely wooded backyard. A Family Pleaser, See It Today! $99,900. 2025 taxes: $1,920. (Lots 2 and 3 of Block 32 and N 10’ of Lot 6 Block 32. 23-40N-1W)

19. 2025-11-10
    listed $119,900 Active 999-char remark

    Show marketing remark (999 chars)

    (358/DW) This custom-built home features 5 bedrooms and 2 baths and is located on 3rd Ave in Park Falls on a roomy 110’x120’ corner lot. Home features a roomy living room with a wood-burning fireplace and built-ins. There is a dining room with a bow window which looks out to the wooded back yard. Step saver kitchen with oak cabinets, appliances included. 3 bedrooms and a full bath complete the main level. The upper level features 2 nice-sized bedrooms with hardwood floors and some built-ins and a full bathroom. The home has plenty of great storage options. The lower walkout level features a free standing wood fireplace in a family room and has a laundry room and a utility room. The exterior is wood-type siding and the roof has been reshingled in the past 2 years. There is a one car tuck-under garage, circular drive and nicely wooded backyard. A Family Pleaser, See It Today! $99,900. 2025 taxes: $1,920. (Lots 2 and 3 of Block 32 and N 10’ of Lot 6 Block 32. 23-40N-1W)

20. 2001-07-19
    soldstatus $49,000

ⓘ 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: $1,920 · $160/mo
• Projected year-2 tax: $1,920 · $160/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥92°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: $15,534
• − Mortgage interest: −$5,596
• − Property taxes: −$1,920
• − Insurance: −$500
• − Repairs & maintenance: −$1,243
• − Management: −$1,243
• − Depreciation: −$2,906
• Taxable income: $2,127
• Est. tax owed @ 24.0%: −$510
• After-tax cash flow: $3,055/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: Chequamegon School District
• NCES district ID: 5500058
• Math proficiency: 25% ▼ -18.00%
• Reading proficiency: 29% ▼ -9.00%
• Median HH income: $42,432
• Composite: 22.98/100
• National rank: #7984
• State rank: #303 of 342 in WI

Livability — Park Falls

• Score: 69/100
• State rank: #329
• US rank: #8515

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Park Falls, WI
• Population (ZIP): 4,290

Population outlook (Price County) Hauer SSP2

• Today (2025): 12,757 people
• By 2030: 12,157 · -4.7%
• By 2040: 10,761 · -15.6%
• By 2050: 9,515 · -25.4%
• By 2075: 8,293 · -35.0%
• By 2100: 7,470 · -41.4%

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: Portuguese 8% Romanian 6% Lithuanian 4%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 1% Other Asian/Pacific 1%

Political lean MEDSL · Price

• 2024 margin: Solid R (+31.1) · D 33.9% · R 65.1%
• 2008→2024 swing: -44.5pp toward R · 2008: 13.4pp · 2024: -31.1pp
• All cycles: 2024: R+31.1 2020: R+27.6 2016: R+25.0 2012: D+0.0 2008: D+13.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -77.87%
• Current HPI: 203.0866
• 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

+103.9% since first listed

5 events — show timeline

• 2026-04-22 Price Changed $99,900 RANWW
• 2026-04-22 Price Changed $99,900 GNMLS
• 2025-11-10 Listed $119,900 GNMLS
• 2025-11-10 Listed $119,900 RANWW
• 2001-07-19 Sold (Public Records) $49,000 Public Records

Property tax history

+1.7%/yr

Latest (2025): $1,920 · +1.9% YoY. Source: county tax records.