203 George St · Kendall, WI 54638

$99,500

5 bd · 3.5 ba · 1,850 sqft · SingleFamily · 357 Days on market

Built 1925 8,712 sqft lot $54/sqft · 43% below area Est $175k · 43% under ↓ 29% since listing

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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 +26.6/30.0
• ARV discount +15.0/15.0
• Appreciation +9.7/10.0
• DSCR +9.1/10.0
• 1% rule +8.2/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0

Listing remarks MLS

You will enjoy the beautiful unpainted woodwork throughout plus the large oak staircase. Uniquely designed hardwood floors accent the main floor. The large main floor bedroom has a private bath with step-in shower. 14x15 upper bedroom also has a private bath. Enjoy plenty of storage throughout the house. Could easily be set up for independent living or duplex. 3rd floor attic is finished and makes for a great rec room. The full basement has 2 walkouts. The Elroy-Sparta hiking and biking trail is close by! Priced below total estimated fair market value on the 2024 tax bill. Buyers may qualify for rehab assistance through the Kendall Home Rehab Program through Couleecap; see info in associated documents. May not pass for all loan types, being sold as-is. Seller will look at all offers!

Key facts

• Plenty of storage
• Private bath
• Unpainted woodwork

Tags

• UNPAINTED WOODWORK
• LARGE OAK STAIRCASE
• HARDWOOD FLOORS
• PRIVATE BATH
• STEP-IN SHOWER
• PLENTY OF STORAGE

What this means for you Summary

Snapshot

• This is a 5-bed/3.5-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $265 ($3k/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 61/100 on livability (#670 in WI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, employment D, health & safety D.
• Royall School District (rural): math 26% / reading 33% proficiency, ranked #286 of 342 in WI (top 84%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 10 active listings in the ZIP; 93 units permitted in Monroe County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $10k of equity ($688 loan paydown + $9k appreciation (9.5% local appreciation)).
• Monroe County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (9.5% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 357 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $87,560 (12.0% below list)

Questions for the listing agent

1. It's been on market 357 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 1925 — 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 F-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: 1.32% ✓
• Cap rate: 9.49%
• Cash-on-cash: 11.43%
• DSCR: 1.51
• GRM: 6.3

CMA / ARV

• ARV (median comp): $175,000
• List price: $99,500
• Delta: -43.14%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
513 Medbury St	0.04mi	4/1.5 (-1)	1,733 (-6%)	2mo	$175,000	$101	74

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

Projected returns pro-forma

9.49% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 31.7%
• Equity multiple: 3.43×
• Total profit: $67,721
• Equity at exit: $85,971

10-year hold

• IRR: 27.6%
• Equity multiple: 7.66×
• Total profit: $185,447
• Equity at exit: $181,631

Cash invested: $27,860 (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 54638

• Home prices YoY: 5.0%
• Active inventory: 10
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $1,311 medium
• Mortgage (P&I): −$522
• Tax from tax record: −$207 /mo · $2,486/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$275
• Net cashflow: $265

Break-even live

Break-even rent $975

Max offer price $99,500

Occupancy floor 75%

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: $24,875
• Closing costs: $2,985
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-18
   days on market $99,500 Active 357 DOM
2. 2026-06-17
   days on market $99,500 Active 356 DOM
3. 2026-06-16
   days on market $99,500 Active 355 DOM
4. 2026-06-15
   days on market $99,500 Active 354 DOM
5. 2026-06-14
   days on market $99,500 Active 352 DOM
6. 2026-06-13
   days on market $99,500 Active 351 DOM
7. 2026-06-10
   days on market $99,500 Active 349 DOM
8. 2026-06-09
   days on market $99,500 Active 348 DOM
9. 2026-06-08
   days on market $99,500 Active 347 DOM
10. 2026-06-07
    days on market $99,500 Active 346 DOM
11. 2026-06-05
    days on market $99,500 Active 343 DOM
12. 2026-06-03
    days on market $99,500 Active 342 DOM
13. 2026-06-02
    days on market $99,500 Active 341 DOM
14. 2026-06-01
    days on market $99,500 Active 340 DOM
15. 2026-05-31
    days on market $99,500 Active 339 DOM
16. 2026-05-31
    days on market $99,500 Active 338 DOM
17. 2025-12-10
    price $99,500 794-char remark

    Show marketing remark (794 chars)

    You will enjoy the beautiful unpainted woodwork throughout plus the large oak staircase. Uniquely designed hardwood floors accent the main floor. The large main floor bedroom has a private bath with step-in shower. 14x15 upper bedroom also has a private bath. Enjoy plenty of storage throughout the house. Could easily be set up for independent living or duplex. 3rd floor attic is finished and makes for a great rec room. The full basement has 2 walkouts. The Elroy-Sparta hiking and biking trail is close by! Priced below total estimated fair market value on the 2024 tax bill. Buyers may qualify for rehab assistance through the Kendall Home Rehab Program through Couleecap; see info in associated documents. May not pass for all loan types, being sold as-is. Seller will look at all offers!

18. 2025-09-15
    price $109,500 794-char remark

    Show marketing remark (794 chars)

    You will enjoy the beautiful unpainted woodwork throughout plus the large oak staircase. Uniquely designed hardwood floors accent the main floor. The large main floor bedroom has a private bath with step-in shower. 14x15 upper bedroom also has a private bath. Enjoy plenty of storage throughout the house. Could easily be set up for independent living or duplex. 3rd floor attic is finished and makes for a great rec room. The full basement has 2 walkouts. The Elroy-Sparta hiking and biking trail is close by! Priced below total estimated fair market value on the 2024 tax bill. Buyers may qualify for rehab assistance through the Kendall Home Rehab Program through Couleecap; see info in associated documents. May not pass for all loan types, being sold as-is. Seller will look at all offers!

19. 2025-07-29
    price $119,500 794-char remark

    Show marketing remark (794 chars)

    You will enjoy the beautiful unpainted woodwork throughout plus the large oak staircase. Uniquely designed hardwood floors accent the main floor. The large main floor bedroom has a private bath with step-in shower. 14x15 upper bedroom also has a private bath. Enjoy plenty of storage throughout the house. Could easily be set up for independent living or duplex. 3rd floor attic is finished and makes for a great rec room. The full basement has 2 walkouts. The Elroy-Sparta hiking and biking trail is close by! Priced below total estimated fair market value on the 2024 tax bill. Buyers may qualify for rehab assistance through the Kendall Home Rehab Program through Couleecap; see info in associated documents. May not pass for all loan types, being sold as-is. Seller will look at all offers!

20. 2025-06-26
    listed $139,500 Active 794-char remark

    Show marketing remark (794 chars)

    You will enjoy the beautiful unpainted woodwork throughout plus the large oak staircase. Uniquely designed hardwood floors accent the main floor. The large main floor bedroom has a private bath with step-in shower. 14x15 upper bedroom also has a private bath. Enjoy plenty of storage throughout the house. Could easily be set up for independent living or duplex. 3rd floor attic is finished and makes for a great rec room. The full basement has 2 walkouts. The Elroy-Sparta hiking and biking trail is close by! Priced below total estimated fair market value on the 2024 tax bill. Buyers may qualify for rehab assistance through the Kendall Home Rehab Program through Couleecap; see info in associated documents. May not pass for all loan types, being sold as-is. Seller will look at all offers!

ⓘ 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: $2,486 · $207/mo
• Projected year-2 tax: $2,486 · $207/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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥97°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,735
• − Mortgage interest: −$5,574
• − Property taxes: −$2,486
• − Insurance: −$498
• − Repairs & maintenance: −$1,259
• − Management: −$1,259
• − Depreciation: −$2,895
• Taxable income: $1,766
• Est. tax owed @ 24.0%: −$424
• After-tax cash flow: $2,762/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: Royall School District
• NCES district ID: 5504380
• Math proficiency: 26% ▼ -5.00%
• Reading proficiency: 33% ▼ -5.00%
• Median HH income: $44,457
• Composite: 25.23/100
• National rank: #7504
• State rank: #286 of 342 in WI

Livability — Kendall

• Score: 61/100
• State rank: #670
• US rank: #17778

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kendall, WI
• Population (ZIP): 1,541

Population outlook (Monroe County) Hauer SSP2

• Today (2025): 45,682 people
• By 2030: 45,187 · -1.1%
• By 2040: 43,768 · -4.2%
• By 2050: 41,596 · -8.9%
• By 2075: 35,555 · -22.2%
• By 2100: 28,278 · -38.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 3%
• Common ancestry: Portuguese 11% Polish 7% Romanian 6%
• Foreign-born: 1% · Canada
• Languages at home: 83% English-only · German/W. Germanic 16% Other Indo-European 1%

Political lean MEDSL · Monroe

• 2024 margin: Strong R (+26.1) · D 36.3% · R 62.5% · Other 1.2%
• 2008→2024 swing: -34.1pp toward R · 2008: 8.0pp · 2024: -26.1pp
• All cycles: 2024: R+26.1 2020: R+23.6 2016: R+22.5 2012: R+0.7 2008: D+8.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 9.49%
• Current HPI: 200.3192
• 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

-28.7% since first listed

4 events — show timeline

• 2025-12-10 Price Changed $99,500 SCWMLS
• 2025-09-15 Price Changed $109,500 SCWMLS
• 2025-07-29 Price Changed $119,500 SCWMLS
• 2025-06-26 Listed $139,500 SCWMLS

Property tax history

+3.8%/yr

Latest (2025): $2,486 · +4.0% YoY. Source: county tax records.