202 Erickson St · Elroy, WI 53929

$100,000

5 bd · 2.0 ba · 1,580 sqft · Other · 317 Days on market

Built 1888 0.25 ac lot $63/sqft · 45% below area Est $180k · 45% under ↓ 8% since listing

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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 +18.3/30.0
• ARV discount +15.0/15.0
• DSCR +5.8/10.0
• 1% rule +5.4/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Enjoy a large corner lot in the quaint City of Elroy. Walking distance to Royall School, Kwik Trip and downtown. Enjoy summer days on the covered side porch. Attention investment seekers, long time upper level renter in place. Upstairs 2010 replaced vanity, faucets and linoleum. New gas space heater. Property being sold "as is".

Key facts

• Large corner lot
• Covered side porch
• 0.25 acre lot

Tags

• LARGE CORNER LOT
• WALKING DISTANCE TO DOWNTOWN
• COVERED SIDE PORCH

🏷️ Possibly a rental listed for sale. The $100,000 price doesn't fit this home's estimated sale value (~$180,467) and the remarks read like a rental — treat the cards below with caution.

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 $92 ($1k/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 66/100 on livability (#444 in WI) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety D, schools F, amenities F.
• 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: 20 active listings in the ZIP; 154 units permitted in Juneau 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.
• Juneau County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 317 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $25k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1888 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $88,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 317 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 1888 — 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: 1.04% ✓
• Cap rate: 7.40%
• Cash-on-cash: 3.95%
• DSCR: 1.18
• GRM: 8.0

CMA / ARV

• ARV (median comp): $180,467
• List price: $100,000
• Delta: -44.59%
• Verdict: UNDERPRICED
• Comps: 13 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -10.1%
• Equity multiple: 0.63×
• Total profit: $-10,292
• Equity at exit: $14,910

10-year hold

• IRR: -0.6%
• Equity multiple: 0.96×
• Total profit: $-1,243
• Equity at exit: $8,646

Cash invested: $28,000 (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 53929

• Home prices YoY: -24.3%
• Active inventory: 20
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,038 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$161 /mo · $1,937/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$218
• Net cashflow: $92

Break-even live

Break-even rent $921

Max offer price $100,000

Occupancy floor 86%

Sensitivity live

Price	-10% $149	-5% $121	+0% $92	+5% $64	+10% $36
Rent	-10% $10	-5% $51	+0% $92	+5% $133	+10% $174
Rate	-1.0pp $143	-0.5pp $118	base $92	+0.5pp $66	+1.0pp $40

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-18
   days on market $100,000 Active 317 DOM
2. 2026-06-17
   days on market $100,000 Active 316 DOM
3. 2026-06-16
   days on market $100,000 Active 315 DOM
4. 2026-06-15
   days on market $100,000 Active 314 DOM
5. 2026-06-14
   days on market $100,000 Active 312 DOM
6. 2026-06-13
   days on market $100,000 Active 311 DOM
7. 2026-06-10
   days on market $100,000 Active 309 DOM
8. 2026-06-09
   days on market $100,000 Active 308 DOM
9. 2026-06-09
   price $100,000 Active 307 DOM
10. 2026-06-08
    days on market $115,000 Active 307 DOM
11. 2026-06-07
    days on market $115,000 Active 306 DOM
12. 2026-06-05
    days on market $115,000 Active 303 DOM
13. 2026-06-03
    days on market $115,000 Active 302 DOM
14. 2026-06-02
    days on market $115,000 Active 301 DOM
15. 2026-06-01
    days on market $115,000 Active 300 DOM
16. 2026-05-31
    days on market $115,000 Active 299 DOM
17. 2026-05-31
    days on market $115,000 Active 298 DOM
18. 2026-05-06
    price $115,000 340-char remark

    Show marketing remark (340 chars)

    Enjoy a large corner lot in the quaint City of Elroy. Walking distance to Royall School, Kwik Trip and downtown. Enjoy summer days on the covered side porch. Attention investment seekers, long time upper level renter in place. Upstairs 2010 replaced vanity, faucets and linoleum. New gas space heater. Property being sold "as is".

19. 2026-03-17
    status Active 340-char remark

    Show marketing remark (340 chars)

    Enjoy a large corner lot in the quaint City of Elroy. Walking distance to Royall School, Kwik Trip and downtown. Enjoy summer days on the covered side porch. Attention investment seekers, long time upper level renter in place. Upstairs 2010 replaced vanity, faucets and linoleum. New gas space heater. Property being sold "as is".

20. 2026-03-04
    historical Offer Show 340-char remark

    Show marketing remark (340 chars)

    Enjoy a large corner lot in the quaint City of Elroy. Walking distance to Royall School, Kwik Trip and downtown. Enjoy summer days on the covered side porch. Attention investment seekers, long time upper level renter in place. Upstairs 2010 replaced vanity, faucets and linoleum. New gas space heater. Property being sold "as is".

21. 2026-02-16
    price $120,000 340-char remark

    Show marketing remark (340 chars)

    Enjoy a large corner lot in the quaint City of Elroy. Walking distance to Royall School, Kwik Trip and downtown. Enjoy summer days on the covered side porch. Attention investment seekers, long time upper level renter in place. Upstairs 2010 replaced vanity, faucets and linoleum. New gas space heater. Property being sold "as is".

22. 2025-09-18
    status Active 340-char remark

    Show marketing remark (340 chars)

    Enjoy a large corner lot in the quaint City of Elroy. Walking distance to Royall School, Kwik Trip and downtown. Enjoy summer days on the covered side porch. Attention investment seekers, long time upper level renter in place. Upstairs 2010 replaced vanity, faucets and linoleum. New gas space heater. Property being sold "as is".

23. 2025-08-18
    historical Offer Show 340-char remark

    Show marketing remark (340 chars)

    Enjoy a large corner lot in the quaint City of Elroy. Walking distance to Royall School, Kwik Trip and downtown. Enjoy summer days on the covered side porch. Attention investment seekers, long time upper level renter in place. Upstairs 2010 replaced vanity, faucets and linoleum. New gas space heater. Property being sold "as is".

24. 2025-08-05
    listed $125,000 Active 340-char remark

    Show marketing remark (340 chars)

    Enjoy a large corner lot in the quaint City of Elroy. Walking distance to Royall School, Kwik Trip and downtown. Enjoy summer days on the covered side porch. Attention investment seekers, long time upper level renter in place. Upstairs 2010 replaced vanity, faucets and linoleum. New gas space heater. Property being sold "as is".

ⓘ 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: $1,937 · $161/mo
• Projected year-2 tax: $1,937 · $161/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 ≥98°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,452
• − Mortgage interest: −$5,602
• − Property taxes: −$1,937
• − Insurance: −$500
• − Repairs & maintenance: −$996
• − Management: −$996
• − Depreciation: −$2,909
• Taxable loss: −$488
• Est. tax savings @ 24.0%: +$117
• After-tax cash flow: $1,224/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 — Elroy

• Score: 66/100
• State rank: #444
• US rank: #11220

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Elroy, WI
• Population (ZIP): 2,833

Population outlook (Juneau County) Hauer SSP2

• Today (2025): 25,013 people
• By 2030: 24,154 · -3.4%
• By 2040: 22,217 · -11.2%
• By 2050: 20,276 · -18.9%
• By 2075: 15,919 · -36.4%
• By 2100: 11,351 · -54.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4% Black 1%
• Common ancestry: Portuguese 13% Romanian 6% Polish 4%
• Foreign-born: 1%
• Languages at home: 96% English-only · German/W. Germanic 3%

Political lean MEDSL · Juneau

• 2024 margin: Solid R (+32.1) · D 33.4% · R 65.6% · Other 1.0%
• 2008→2024 swing: -41.1pp toward R · 2008: 9.0pp · 2024: -32.1pp
• All cycles: 2024: R+32.1 2020: R+29.2 2016: R+26.3 2012: D+7.1 2008: D+9.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -81.50%
• Current HPI: 254.4537
• 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

-8.0% since first listed

7 events — show timeline

• 2026-05-06 Price Changed $115,000 SCWMLS
• 2026-03-17 Relisted — SCWMLS
• 2026-03-04 Contingent — SCWMLS
• 2026-02-16 Price Changed $120,000 SCWMLS
• 2025-09-18 Relisted — SCWMLS
• 2025-08-18 Contingent — SCWMLS
• 2025-08-05 Listed $125,000 SCWMLS

Property tax history

+4.4%/yr

Latest (2025): $1,937 · -5.7% YoY. Source: county tax records.