N4530 High St · Catawba, WI 54515

$120,000

2 bd · 2.0 ba · 980 sqft · SingleFamily · 94 Days on market

Built 1993 0.48 ac lot $122/sqft · 45% below area Est $219k · 45% under

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Why this score? — see what drove the D+ 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 +15.0/15.0
• Cash flow +12.3/30.0
• Appreciation +5.0/10.0
• DSCR +3.7/10.0
• Schools +3.0/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0

Listing remarks MLS

Charming 2 bed, 2 bath mobile home on a spacious . 48-acre lot in the village of Catawba. Enjoy an inviting open floor plan with a bright living room flowing into a well-appointed kitchen (with new stainless steel appliances) and dining area. The primary ensuite features a full bath, two closets (including a walk-in), and a nearby laundry room. The opposite end offers a second bedroom and full bath for added privacy. Outdoor highlights include a 20x24 two-car detached garage with a 20x12 heated, insulated workshop, plus a 10x14 storage shed and an 8x10 heated shed with electricity. Beautiful perennial gardens feature lilies, lilacs, hostas, and more, with space for a vegetable garden. Harvest from grapevines and apple and crab apple trees. Convenient access to ATV and snowmobile trails with abundant nearby recreation makes this an ideal home or getaway!

Key facts

• Open floor plan
• Two closets
• Laundry room

Tags

• OPEN FLOOR PLAN
• WELL-APPOINTED KITCHEN
• PRIMARY ENSUITE
• TWO CLOSETS
• LAUNDRY ROOM
• DETACHED GARAGE

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $-21 ($-254/yr) — negative.
• To cash-flow at today's rent, offer at most $116k (3.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $89k (26.2% below list).
• Recommended offer: $89k (26.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 60/100 on livability (#705 in WI) — a middle-class / working-renter tenant base. Strengths: cost of living A+; Watch: crime D, health & safety D, schools F.
• Phillips School District (rural): math 39% / reading 31% proficiency, ranked #233 of 342 in WI (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 7 active listings in the ZIP; 47 units permitted in Price County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($830 loan paydown + $4k appreciation (3.0% local appreciation)).
• 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 $34k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 94 days — a 9% lower offer ($109k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago 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.
• Current owner paid $100k; 20% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $88,528 (26.2% 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 94 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
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. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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 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: 0.74% ✗
• Cap rate: 6.08%
• Cash-on-cash: -0.76%
• DSCR: 0.97
• GRM: 11.3

CMA / ARV

• ARV (median comp): $218,740
• List price: $120,000
• Delta: -45.14%
• Verdict: UNDERPRICED
• Comps: 3 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 6.8%
• Equity multiple: 1.39×
• Total profit: $13,052
• Equity at exit: $53,957

10-year hold

• IRR: 9.6%
• Equity multiple: 2.44×
• Total profit: $48,302
• Equity at exit: $83,154

Cash invested: $33,600 (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 54515

• Active inventory: 7
• Price-to-rent: 11.3×

Monthly cashflow live

• Estimated rent: $885 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$41 /mo · $495/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$186
• Net cashflow: $-21

Break-even live

Break-even rent $912

Max offer price $116,255

Occupancy floor 97%

Sensitivity live

Price	-10% $47	-5% $13	+0% $-21	+5% $-55	+10% $-89
Rent	-10% $-91	-5% $-56	+0% $-21	+5% $14	+10% $49
Rate	-1.0pp $39	-0.5pp $9	base $-21	+0.5pp $-52	+1.0pp $-84

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-21
   days on market $120,000 Active 94 DOM
2. 2026-06-18
   days on market $120,000 Active 92 DOM
3. 2026-06-17
   days on market $120,000 Active 91 DOM
4. 2026-06-16
   days on market $120,000 Active 90 DOM
5. 2026-06-15
   days on market $120,000 Active 89 DOM
6. 2026-06-15
   days on market $120,000 Active 88 DOM
7. 2026-06-13
   days on market $120,000 Active 87 DOM
8. 2026-06-12
   days on market $120,000 Active 86 DOM
9. 2026-06-09
   days on market $120,000 Active 83 DOM
10. 2026-06-08
    days on market $120,000 Active 82 DOM
11. 2026-06-08
    days on market $120,000 Active 81 DOM
12. 2026-06-05
    days on market $120,000 Active 79 DOM
13. 2026-06-03
    days on market $120,000 Active 77 DOM
14. 2026-06-02
    days on market $120,000 Active 76 DOM
15. 2026-06-01
    days on market $120,000 Active 75 DOM
16. 2026-05-31
    days on market $120,000 Active 74 DOM
17. 2026-04-13
    price $120,000 865-char remark

    Show marketing remark (865 chars)

    Charming 2 bed, 2 bath mobile home on a spacious . 48-acre lot in the village of Catawba. Enjoy an inviting open floor plan with a bright living room flowing into a well-appointed kitchen (with new stainless steel appliances) and dining area. The primary ensuite features a full bath, two closets (including a walk-in), and a nearby laundry room. The opposite end offers a second bedroom and full bath for added privacy. Outdoor highlights include a 20x24 two-car detached garage with a 20x12 heated, insulated workshop, plus a 10x14 storage shed and an 8x10 heated shed with electricity. Beautiful perennial gardens feature lilies, lilacs, hostas, and more, with space for a vegetable garden. Harvest from grapevines and apple and crab apple trees. Convenient access to ATV and snowmobile trails with abundant nearby recreation makes this an ideal home or getaway!

18. 2026-03-18
    listed $125,000 Active 865-char remark

    Show marketing remark (865 chars)

    Charming 2 bed, 2 bath mobile home on a spacious . 48-acre lot in the village of Catawba. Enjoy an inviting open floor plan with a bright living room flowing into a well-appointed kitchen (with new stainless steel appliances) and dining area. The primary ensuite features a full bath, two closets (including a walk-in), and a nearby laundry room. The opposite end offers a second bedroom and full bath for added privacy. Outdoor highlights include a 20x24 two-car detached garage with a 20x12 heated, insulated workshop, plus a 10x14 storage shed and an 8x10 heated shed with electricity. Beautiful perennial gardens feature lilies, lilacs, hostas, and more, with space for a vegetable garden. Harvest from grapevines and apple and crab apple trees. Convenient access to ATV and snowmobile trails with abundant nearby recreation makes this an ideal home or getaway!

19. 2024-09-09
    soldstatus $99,900 Closed 1030-char remark

    Show marketing remark (1030 chars)

    Here is a charming 2 bed, 2 bath mobile home nestled on a generous . 48 acre lot in the village of Catawba. Step into an inviting open floor plan, where a spacious living room seamlessly flows into a well-appointed kitchen & dining area. At one end awaits the primary ensuite bedroom w/ full bathroom, complemented by 2 closets, including a walk-in, & adjacent laundry room. The other end of the home has a second bedroom along with a full bathroom. Outdoor enthusiasts will delight in the amenities: a 20x24 detached garage for two cars, complete with a 20x12 heated, insulated workshop; 10x14 storage shed; 8x10 heated shed w/ electricity; and perennial gardens showcasing many vibrant flowers including lilies, lilacs, hostas & more w/ ample room to start a vegetable garden. Enjoy harvesting from the grape vines and apple & crab apple trees. Access to ATV & snowmobile trails and abundant recreation nearby! All this creates a serene backdrop for your new home or cabin in this beautiful setting.

20. 2024-08-01
    historical Active Under Contract 1030-char remark

    Show marketing remark (1030 chars)

    Here is a charming 2 bed, 2 bath mobile home nestled on a generous . 48 acre lot in the village of Catawba. Step into an inviting open floor plan, where a spacious living room seamlessly flows into a well-appointed kitchen & dining area. At one end awaits the primary ensuite bedroom w/ full bathroom, complemented by 2 closets, including a walk-in, & adjacent laundry room. The other end of the home has a second bedroom along with a full bathroom. Outdoor enthusiasts will delight in the amenities: a 20x24 detached garage for two cars, complete with a 20x12 heated, insulated workshop; 10x14 storage shed; 8x10 heated shed w/ electricity; and perennial gardens showcasing many vibrant flowers including lilies, lilacs, hostas & more w/ ample room to start a vegetable garden. Enjoy harvesting from the grape vines and apple & crab apple trees. Access to ATV & snowmobile trails and abundant recreation nearby! All this creates a serene backdrop for your new home or cabin in this beautiful setting.

21. 2024-07-25
    listed $99,900 Active 1030-char remark

    Show marketing remark (1030 chars)

    Here is a charming 2 bed, 2 bath mobile home nestled on a generous . 48 acre lot in the village of Catawba. Step into an inviting open floor plan, where a spacious living room seamlessly flows into a well-appointed kitchen & dining area. At one end awaits the primary ensuite bedroom w/ full bathroom, complemented by 2 closets, including a walk-in, & adjacent laundry room. The other end of the home has a second bedroom along with a full bathroom. Outdoor enthusiasts will delight in the amenities: a 20x24 detached garage for two cars, complete with a 20x12 heated, insulated workshop; 10x14 storage shed; 8x10 heated shed w/ electricity; and perennial gardens showcasing many vibrant flowers including lilies, lilacs, hostas & more w/ ample room to start a vegetable garden. Enjoy harvesting from the grape vines and apple & crab apple trees. Access to ATV & snowmobile trails and abundant recreation nearby! All this creates a serene backdrop for your new home or cabin in this beautiful setting.

ⓘ 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: $495 · $41/mo
• Projected year-2 tax: $1,358 · $113/mo
• Expected delta: +$862/yr (+$72/mo · 174.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥93°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: $10,623
• − Mortgage interest: −$6,722
• − Property taxes: −$495
• − Insurance: −$600
• − Repairs & maintenance: −$850
• − Management: −$850
• − Depreciation: −$3,491
• Taxable loss: −$2,384
• Est. tax savings @ 24.0%: +$572
• After-tax cash flow: $318/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: Phillips School District
• NCES district ID: 5511730
• Math proficiency: 39% ▼ -6.00%
• Reading proficiency: 31% ▼ -6.00%
• Median HH income: $44,261
• Composite: 29.84/100
• National rank: #6417
• State rank: #233 of 342 in WI

Livability — Catawba

• Score: 60/100
• State rank: #705
• US rank: #19166

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Catawba, WI
• Population (ZIP): 635

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 (94%)
• Race & ethnicity: White 94% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Portuguese 6% Lithuanian 5% Romanian 4%
• Foreign-born: 0%

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: —
• 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

+20.1% since first listed

5 events — show timeline

• 2026-04-13 Price Changed $120,000 GNMLS
• 2026-03-18 Listed $125,000 GNMLS
• 2024-09-09 Sold (MLS) $99,900 GNMLS
• 2024-08-01 Contingent — GNMLS
• 2024-07-25 Listed $99,900 GNMLS

Property tax history

+2.5%/yr

Latest (2025): $495 · +13.9% YoY. Source: county tax records.