505 N 6th St Unit 601 McClellan · Wausau, WI 54403

$1,750,000

None bd · None ba · — sqft · Condo · 311 Days on market

Built 1959 ↓ 8% since listing

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Livability +4.5/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Cash flow +0.0/30.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Fantastic 24 unit complex in the heart of Wausau. 16 one bedroom units and 8 two bedroom units across two buildings. Both buildings have had several updates in the last 5 years. Updates include new roofs on both buildings, new boiler in 2021 in 505 6th st, new decking stairs in both buildings, new landscaping on both buildings, new flooring in 19 of the units, and more. Currently the buildings bring in over $17,000 per month plus the income from a coin operated washer and dryer. If you are looking to expand your investment portfolio or get into larger buildings this is a must see! Schedule your showing today!

Key facts

• New boiler
• New landscaping
• New roofs

Tags

• 24 UNIT COMPLEX
• TWO BUILDINGS
• NEW ROOFS
• NEW BOILER
• NEW DECKING STAIRS
• NEW LANDSCAPING

What this means for you Summary

Snapshot

• This is a condo listed at $1.75M.

Deal economics

• At list price, monthly cash flow is $-11k ($-136k/yr) — negative.
• To cash-flow at today's rent, offer at most $112k (93.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $98k (94.4% below list).
• Recommended offer: $98k (94.4% below list) — sets the bar for 1% rule.
• Cap rate -1.5% vs local median 3.3% in Wausau — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 91/100 on livability (#4 in WI, #55 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: schools C-, employment D.
• Wausau School District (urban): math 33% / reading 36% proficiency, ranked #235 of 342 in WI (top 69%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 78 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 298 units permitted in Marathon County in 2024 (81 in 5+ unit buildings).
• This rent is only 17% of the median local income ($69k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $12k of loan paydown is wiped out by about $52k of value loss. Plan a longer hold.
• Marathon County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 311 days — a 12% lower offer ($1.54M) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $149k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $97,945 (94.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 311 days. Have you received any prior offers? Is the seller open to a 94% concession, seller financing, or rate buy-down credit?
3. Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.06% ✗
• Cap rate: -1.47%
• Cash-on-cash: -27.72%
• DSCR: -0.23
• GRM: 148.9

CMA / ARV

No comps found within radius.

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
609 Steuben St	0.45mi	3/2.0	—	13mo	$190,000	—	56

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: -80.9%
• Equity multiple: -1.05×
• Total profit: $-1,004,543
• Equity at exit: $260,931

10-year hold

• IRR: —
• Equity multiple: -2.68×
• Total profit: $-1,803,058
• Equity at exit: $151,308

Cash invested: $490,000 (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 54403

• Home prices YoY: -31.3%
• Active inventory: 78
• Price-to-rent: 148.9×

Monthly cashflow live

• Estimated rent: $979 high
• Mortgage (P&I): −$9,177
• Tax est. 1.5%: −$2,188 /mo · $26,250/yr
• Insurance: −$729
• HOA: −$0
• Vacancy / Maint / Mgmt: −$206
• Net cashflow: $-11,320

Break-even live

Break-even rent $15,309

Max offer price $111,965

Occupancy floor —

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: $437,500
• Closing costs: $52,500
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
505 N 6th St Unit B11 Wausau, WI	1.0	1.0	500	$675	$1.35	43d	1	0.02mi
603 Grant St Wausau, WI	1.0	1.0	1200	$1,050	$0.88	43d	1	0.06mi
724 Washington St Unit Upper Wausau, WI	3.0	1.0	750	$875	$1.17	43d	1	0.22mi
714 Jackson St Unit 2 Wausau, WI	2.0	1.0	900	$725	$0.81	43d	1	0.25mi
703 Jackson St Unit 1 Wausau, WI	2.0	1.0	—	$850	—	43d	1	0.25mi
708 Fulton St Wausau, WI	2.0	1.0	1020	$1,165	$1.14	43d	1	0.38mi
516 Hamilton St Wausau, WI	3.0	1.0	1166	$1,595	$1.37	43d	1	0.40mi
519 Steuben St Wausau, WI	2.0	1.0	650	$850	$1.31	43d	2	0.43mi
16 Fulton St Wausau, WI	1.0	1.0	682	$1,375	$2.02	43d	1	0.52mi
1019 Stark St Unit ST1019 Wausau, WI	2.0	1.0	—	$995	—	43d	1	0.66mi
714 Chicago Ave Unit 714 Wausau, WI	3.0	1.0	900	$1,195	$1.33	43d	1	0.66mi
701 Prospect Ave Unit 3 Wausau, WI	1.0	1.0	750	$675	$0.90	43d	1	0.69mi
701 Prospect Ave Wausau, WI	1.0	1.5	—	$650	—	43d	1	0.69mi
702 S 10th St Unit 8 Wausau, WI	2.0	1.0	800	$950	$1.19	43d	1	0.77mi
629 Park Ave Wausau, WI	2.0	1.0	—	$800	—	43d	1	0.80mi
914 Grand Ave Apt 10 Wausau, WI	2.0	1.5	1100	$1,650	$1.50	43d	1	0.84mi
903 Genrich St Apt C Wausau, WI	1.0	1.0	—	$750	—	43d	1	0.84mi
313 Callon St Wausau, WI	2.0	1.0	800	$1,075	$1.34	43d	1	0.84mi
920 Grand Ave Wausau, WI	2.0	1.5	1100	$1,300	$1.18	43d	1	0.86mi
909 Genrich St Apt 1 Wausau, WI	2.0	1.0	—	$950	—	43d	1	0.86mi
637 S 3rd Ave Unit Upper Wausau, WI	3.0	1.0	1000	$1,095	$1.09	43d	1	0.86mi
402 1/2 N 2nd Ave Wausau, WI	2.0	1.0	—	$875	—	43d	1	0.87mi
915 Genrich St Apt 2 Wausau, WI	2.0	1.0	—	$925	—	43d	1	0.88mi
915 Genrich St Apt 4 Wausau, WI	2.0	1.0	—	$875	—	43d	1	0.88mi
827 Single Ave Wausau, WI	2.0	1.0	—	$1,575	—	43d	1	0.90mi
315 S 5th Ave Wausau, WI	3.0	1.0	—	$975	—	43d	1	0.91mi
1016 Grand Ave Wausau, WI	2.0	1.0	900	$1,300	$1.44	43d	2	0.92mi
517 N 2nd Ave Wausau, WI	3.0	1.0	1458	$1,445	$0.99	43d	1	0.94mi
611 S 5th Ave Wausau, WI	3.0	1.0	—	$1,350	—	43d	1	0.94mi
406 S 6th Ave Wausau, WI	2.0	1.0	—	$1,000	—	43d	1	0.99mi
2405 N 6th St Apt 3 Wausau, WI	2.0	1.0	800	$895	$1.12	43d	1	1.02mi
2405 N 6th St Apt 4 Wausau, WI	1.0	1.0	675	$825	$1.22	43d	1	1.02mi
1221 E Wausau Ave Wausau, WI	3.0	1.5	—	$1,300	—	43d	1	1.06mi
1207 E Union Ave Apt 4 Wausau, WI	1.0	1.0	—	$775	—	43d	1	1.10mi
110 Adrian St Wausau, WI	2.0	1.0	700	$795	$1.14	43d	1	1.10mi
733 S 6th Ave Wausau, WI	3.0	1.0	1000	$995	$0.99	43d	1	1.11mi
1213 E Union Ave Unit 3 Wausau, WI	1.0	1.0	—	$850	—	43d	1	1.11mi
1213 E Union Ave Apt 4 Wausau, WI	1.0	1.0	750	$800	$1.07	43d	1	1.11mi
1315 Cleveland Ave Unit 1315 Wausau, WI	2.0	1.0	—	$895	—	43d	1	1.16mi
315 W Wausau Ave Wausau, WI	2.0	1.0	864	$1,300	$1.50	43d	1	1.21mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: landscaping
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2026-06-19
   days on market $1,750,000 Active 311 DOM
2. 2026-06-18
   days on market $1,750,000 Active 310 DOM
3. 2026-06-17
   days on market $1,750,000 Active 309 DOM
4. 2026-06-16
   days on market $1,750,000 Active 308 DOM
5. 2026-06-15
   days on market $1,750,000 Active 307 DOM
6. 2026-06-14
   days on market $1,750,000 Active 305 DOM
7. 2026-06-13
   days on market $1,750,000 Active 304 DOM
8. 2026-06-10
   days on market $1,750,000 Active 302 DOM
9. 2026-06-09
   days on market $1,750,000 Active 301 DOM
10. 2026-06-08
    days on market $1,750,000 Active 300 DOM
11. 2026-06-07
    days on market $1,750,000 Active 299 DOM
12. 2026-06-02
    days on market $1,750,000 Active 294 DOM
13. 2026-06-01
    days on market $1,750,000 Active 293 DOM
14. 2026-05-31
    days on market $1,750,000 Active 292 DOM
15. 2026-05-30
    days on market $1,750,000 Active 291 DOM
16. 2026-03-27
    price $1,750,000 616-char remark

    Show marketing remark (616 chars)

    Fantastic 24 unit complex in the heart of Wausau. 16 one bedroom units and 8 two bedroom units across two buildings. Both buildings have had several updates in the last 5 years. Updates include new roofs on both buildings, new boiler in 2021 in 505 6th st, new decking stairs in both buildings, new landscaping on both buildings, new flooring in 19 of the units, and more. Currently the buildings bring in over $17,000 per month plus the income from a coin operated washer and dryer. If you are looking to expand your investment portfolio or get into larger buildings this is a must see! Schedule your showing today!

17. 2026-02-02
    status Active 616-char remark

    Show marketing remark (616 chars)

    Fantastic 24 unit complex in the heart of Wausau. 16 one bedroom units and 8 two bedroom units across two buildings. Both buildings have had several updates in the last 5 years. Updates include new roofs on both buildings, new boiler in 2021 in 505 6th st, new decking stairs in both buildings, new landscaping on both buildings, new flooring in 19 of the units, and more. Currently the buildings bring in over $17,000 per month plus the income from a coin operated washer and dryer. If you are looking to expand your investment portfolio or get into larger buildings this is a must see! Schedule your showing today!

18. 2025-09-25
    historical Contingent 616-char remark

    Show marketing remark (616 chars)

    Fantastic 24 unit complex in the heart of Wausau. 16 one bedroom units and 8 two bedroom units across two buildings. Both buildings have had several updates in the last 5 years. Updates include new roofs on both buildings, new boiler in 2021 in 505 6th st, new decking stairs in both buildings, new landscaping on both buildings, new flooring in 19 of the units, and more. Currently the buildings bring in over $17,000 per month plus the income from a coin operated washer and dryer. If you are looking to expand your investment portfolio or get into larger buildings this is a must see! Schedule your showing today!

19. 2025-08-12
    listed $1,899,000 Active 616-char remark

    Show marketing remark (616 chars)

    Fantastic 24 unit complex in the heart of Wausau. 16 one bedroom units and 8 two bedroom units across two buildings. Both buildings have had several updates in the last 5 years. Updates include new roofs on both buildings, new boiler in 2021 in 505 6th st, new decking stairs in both buildings, new landscaping on both buildings, new flooring in 19 of the units, and more. Currently the buildings bring in over $17,000 per month plus the income from a coin operated washer and dryer. If you are looking to expand your investment portfolio or get into larger buildings this is a must see! Schedule your showing today!

20. 2022-04-08
    price $615

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $11,753
• − Mortgage interest: −$98,027
• − Property taxes: −$26,250
• − Insurance: −$8,750
• − Repairs & maintenance: −$940
• − Management: −$940
• − Depreciation: −$50,909
• Taxable loss: −$174,063
• Est. tax savings @ 24.0%: +$41,775
• After-tax cash flow: $-94,066/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: Wausau School District
• NCES district ID: 5515900
• Math proficiency: 33% ▼ -9.00%
• Reading proficiency: 36% ▼ -7.00%
• Median HH income: $47,238
• Composite: 29.66/100
• National rank: #6466
• State rank: #235 of 342 in WI

Livability — Wausau

• Score: 91/100
• State rank: #4
• US rank: #55

Category grades

Amenities A+ Commute A+ 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: Wausau, WI
• County: Marathon County · 76,019 people
• City population: 56,642
• Metro: Wausau-Weston, WI
• Population (ZIP): 24,950
• Household income: $69,030
• Rent vs Own: 35.0% rent · 65.0% own
• Severe rent burden: 898.0

Population outlook (Marathon County) Hauer SSP2

• Today (2025): 138,030 people
• By 2030: 138,087 · +0.0%
• By 2040: 135,688 · -1.7%
• By 2050: 129,390 · -6.3%
• By 2075: 110,912 · -19.6%
• By 2100: 85,136 · -38.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Two or more races 6% Asian 5% Hispanic / Latino 3%
• Common ancestry: Romanian 10% Portuguese 6% Lithuanian 3%
• Foreign-born: 3% · Canada, China
• Languages at home: 95% English-only · Other Asian/Pacific 2% Other Indo-European 1% Spanish 1%

Political lean MEDSL · Marathon

• 2024 margin: R (+18.7) · D 40.1% · R 58.7% · Other 1.2%
• 2008→2024 swing: -27.5pp toward R · 2008: 8.9pp · 2024: -18.7pp
• All cycles: 2024: R+18.7 2020: R+18.0 2016: R+18.2 2012: R+6.1 2008: D+8.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -90.29%
• Current HPI: 197.893
• Rent YoY: —
• Metro: Wausau-Weston, WI
• 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

-7.8% since first listed

5 events — show timeline

• 2026-03-27 Price Changed $1,750,000 CWMLS
• 2026-02-02 Relisted — CWMLS
• 2025-09-25 Contingent — CWMLS
• 2025-08-12 Listed $1,899,000 CWMLS
• 2022-04-08 Price Changed $615 RENT.