111 W 3rd St · Washburn, WI 54891

$154,900

4 bd · 1.5 ba · 1,790 sqft · Other · 18 Days on market

0.30 ac lot $87/sqft · 29% below area Est $219k · 29% under ↓ 35% since listing

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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 +10.0/30.0
• Livability +4.3/5.0
• Schools +3.4/10.0
• 1% rule +3.0/10.0
• DSCR +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Located in a prime location in the City of Washburn, this classic two-story traditional home sits on a corner lot directly across the street from the historic Washburn Carnegie Library and just blocks from Lake Superior, downtown shops, and local schools. Offering 1,790 sq ft with 4 bedrooms and 2 bathrooms, the home features hardwood floors throughout the upper level. The main floor welcomes you with a foyer entry, eat-in kitchen, spacious living room combined with dining, and convenient main floor laundry with a 1/4 bath. Enjoy outdoor living from the deck overlooking the level corner lot. A detached 24 X 31 3-car garage offers ample space for vehicles, storage, or a workshop, plus a garden shed for additional outdoor storage. RV parking and concrete driveway round out the exterior features. Sold as-is, where-is. Buyer and buyer's agent to verify all information.

Key facts

• Rv parking
• Garden shed
• Prime location

Tags

• PRIME LOCATION
• CORNER LOT
• OUTDOOR LIVING
• DETACHED GARAGE
• GARDEN SHED
• RV PARKING

Property features AI

Exterior

• Parking: Detached garage; 3 garage spaces; Off-street parking; Concrete surfaces; RV access/parking
• Utilities: Public water; Public sewer
• Home design: Residential single-family detached; 2 stories
• Construction: Stone foundation; Asphalt shingle roof
• Exterior features: Lighting; Deck; Shed(s); Corner lot; Level lot; Near public transit; Paved road; Publicly maintained road; City street and highway frontage; Irregular lot dimensions

Interior

• Kitchen: Range; Refrigerator
• Flooring: Hardwood floors
• Bathrooms: 1 full bathroom; 1 quarter bathroom
• Heating & cooling: Hot water heating; No cooling
• Interior features: Ceiling fan(s); Eat-in kitchen; Screens on windows; Wood window frames; Has basement (crawl space, partial, unfinished)
• Laundry & utility: Washer hookup on main level; Washer and dryer included

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath other listed at $155k.

Deal economics

• At list price, monthly cash flow is $-94 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $141k (8.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $124k (20.2% below list).
• Recommended offer: $124k (20.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 86/100 on livability (#22 in WI, #341 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: commute F.
• Washburn School District (rural): math 31% / reading 47% proficiency, ranked #169 of 342 in WI (top 49%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Washburn Elementary (math 37% / reading 52%, grade F, #372 of 1,041 statewide, top 40%, 319 students, 46% FRL); Washburn Middle (math 17% / reading 42%, grade F, #261 of 383 statewide, top 73%, 82 students, 51% FRL); Washburn High (math 34% / reading 44%, grade F, #99 of 483 statewide, top 24%, 198 students, 46% FRL) — zoned schools average 48% FRL vs 32% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 25 active listings in the ZIP; 106 units permitted in Bayfield County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Bayfield County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($153k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $30k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $120k; 29% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $123,668 (20.2% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. 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?
5. 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.
6. 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.
7. 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: 0.80% ✗
• Cap rate: 5.57%
• Cash-on-cash: -2.59%
• DSCR: 0.88
• GRM: 10.4

CMA / ARV

• ARV (median comp): $219,383
• List price: $154,900
• Delta: -29.39%
• 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: -20.6%
• Equity multiple: 0.28×
• Total profit: $-31,037
• Equity at exit: $23,096

10-year hold

• IRR: -13.8%
• Equity multiple: 0.20×
• Total profit: $-34,619
• Equity at exit: $13,393

Cash invested: $43,372 (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 54891

• Active inventory: 25
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $1,237 medium
• Mortgage (P&I): −$812
• Tax est. 1.5%: −$194 /mo · $2,324/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$260
• Net cashflow: $-94

Break-even live

Break-even rent $1,355

Max offer price $141,370

Occupancy floor —

Sensitivity live

Price	-10% $14	-5% $-40	+0% $-94	+5% $-147	+10% $-201
Rent	-10% $-191	-5% $-142	+0% $-94	+5% $-45	+10% $4
Rate	-1.0pp $-15	-0.5pp $-54	base $-94	+0.5pp $-134	+1.0pp $-174

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: $38,725
• Closing costs: $4,647
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-18
   listing id $154,900 Pending 18 DOM

   Show marketing remark (877 chars)

   Located in a prime location in the City of Washburn, this classic two-story traditional home sits on a corner lot directly across the street from the historic Washburn Carnegie Library and just blocks from Lake Superior, downtown shops, and local schools. Offering 1,790 sq ft with 4 bedrooms and 2 bathrooms, the home features hardwood floors throughout the upper level. The main floor welcomes you with a foyer entry, eat-in kitchen, spacious living room combined with dining, and convenient main floor laundry with a 1/4 bath. Enjoy outdoor living from the deck overlooking the level corner lot. A detached 24 X 31 3-car garage offers ample space for vehicles, storage, or a workshop, plus a garden shed for additional outdoor storage. RV parking and concrete driveway round out the exterior features. Sold as-is, where-is. Buyer and buyer's agent to verify all information.

2. 2026-05-18
   status Pending 877-char remark

   Show marketing remark (877 chars)

   Located in a prime location in the City of Washburn, this classic two-story traditional home sits on a corner lot directly across the street from the historic Washburn Carnegie Library and just blocks from Lake Superior, downtown shops, and local schools. Offering 1,790 sq ft with 4 bedrooms and 2 bathrooms, the home features hardwood floors throughout the upper level. The main floor welcomes you with a foyer entry, eat-in kitchen, spacious living room combined with dining, and convenient main floor laundry with a 1/4 bath. Enjoy outdoor living from the deck overlooking the level corner lot. A detached 24 X 31 3-car garage offers ample space for vehicles, storage, or a workshop, plus a garden shed for additional outdoor storage. RV parking and concrete driveway round out the exterior features. Sold as-is, where-is. Buyer and buyer's agent to verify all information.

3. 2026-05-18
   status Pending 877-char remark

   Show marketing remark (877 chars)

   Located in a prime location in the City of Washburn, this classic two-story traditional home sits on a corner lot directly across the street from the historic Washburn Carnegie Library and just blocks from Lake Superior, downtown shops, and local schools. Offering 1,790 sq ft with 4 bedrooms and 2 bathrooms, the home features hardwood floors throughout the upper level. The main floor welcomes you with a foyer entry, eat-in kitchen, spacious living room combined with dining, and convenient main floor laundry with a 1/4 bath. Enjoy outdoor living from the deck overlooking the level corner lot. A detached 24 X 31 3-car garage offers ample space for vehicles, storage, or a workshop, plus a garden shed for additional outdoor storage. RV parking and concrete driveway round out the exterior features. Sold as-is, where-is. Buyer and buyer's agent to verify all information.

4. 2026-05-08
   price $154,900 877-char remark

   Show marketing remark (877 chars)

   Located in a prime location in the City of Washburn, this classic two-story traditional home sits on a corner lot directly across the street from the historic Washburn Carnegie Library and just blocks from Lake Superior, downtown shops, and local schools. Offering 1,790 sq ft with 4 bedrooms and 2 bathrooms, the home features hardwood floors throughout the upper level. The main floor welcomes you with a foyer entry, eat-in kitchen, spacious living room combined with dining, and convenient main floor laundry with a 1/4 bath. Enjoy outdoor living from the deck overlooking the level corner lot. A detached 24 X 31 3-car garage offers ample space for vehicles, storage, or a workshop, plus a garden shed for additional outdoor storage. RV parking and concrete driveway round out the exterior features. Sold as-is, where-is. Buyer and buyer's agent to verify all information.

5. 2026-05-08
   price $154,900 877-char remark

   Show marketing remark (877 chars)

   Located in a prime location in the City of Washburn, this classic two-story traditional home sits on a corner lot directly across the street from the historic Washburn Carnegie Library and just blocks from Lake Superior, downtown shops, and local schools. Offering 1,790 sq ft with 4 bedrooms and 2 bathrooms, the home features hardwood floors throughout the upper level. The main floor welcomes you with a foyer entry, eat-in kitchen, spacious living room combined with dining, and convenient main floor laundry with a 1/4 bath. Enjoy outdoor living from the deck overlooking the level corner lot. A detached 24 X 31 3-car garage offers ample space for vehicles, storage, or a workshop, plus a garden shed for additional outdoor storage. RV parking and concrete driveway round out the exterior features. Sold as-is, where-is. Buyer and buyer's agent to verify all information.

6. 2026-03-25
   listed $184,900 Active 877-char remark

   Show marketing remark (877 chars)

   Located in a prime location in the City of Washburn, this classic two-story traditional home sits on a corner lot directly across the street from the historic Washburn Carnegie Library and just blocks from Lake Superior, downtown shops, and local schools. Offering 1,790 sq ft with 4 bedrooms and 2 bathrooms, the home features hardwood floors throughout the upper level. The main floor welcomes you with a foyer entry, eat-in kitchen, spacious living room combined with dining, and convenient main floor laundry with a 1/4 bath. Enjoy outdoor living from the deck overlooking the level corner lot. A detached 24 X 31 3-car garage offers ample space for vehicles, storage, or a workshop, plus a garden shed for additional outdoor storage. RV parking and concrete driveway round out the exterior features. Sold as-is, where-is. Buyer and buyer's agent to verify all information.

7. 2026-03-25
   listed $184,900 Active 877-char remark

   Show marketing remark (877 chars)

   Located in a prime location in the City of Washburn, this classic two-story traditional home sits on a corner lot directly across the street from the historic Washburn Carnegie Library and just blocks from Lake Superior, downtown shops, and local schools. Offering 1,790 sq ft with 4 bedrooms and 2 bathrooms, the home features hardwood floors throughout the upper level. The main floor welcomes you with a foyer entry, eat-in kitchen, spacious living room combined with dining, and convenient main floor laundry with a 1/4 bath. Enjoy outdoor living from the deck overlooking the level corner lot. A detached 24 X 31 3-car garage offers ample space for vehicles, storage, or a workshop, plus a garden shed for additional outdoor storage. RV parking and concrete driveway round out the exterior features. Sold as-is, where-is. Buyer and buyer's agent to verify all information.

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥94°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: $14,840
• − Mortgage interest: −$8,677
• − Property taxes: −$2,324
• − Insurance: −$774
• − Repairs & maintenance: −$1,187
• − Management: −$1,187
• − Depreciation: −$4,506
• Taxable loss: −$3,815
• Est. tax savings @ 24.0%: +$916
• After-tax cash flow: $-206/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: Washburn School District
• NCES district ID: 5515540
• Math proficiency: 31% ▼ -18.00%
• Reading proficiency: 47% ▬ 0.00%
• Median HH income: $50,519
• Composite: 33.65/100
• National rank: #5398
• State rank: #169 of 342 in WI

Livability — Washburn

• Score: 86/100
• State rank: #22
• US rank: #341

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Washburn, WI
• Population (ZIP): 3,327

Population outlook (Bayfield County) Hauer SSP2

• Today (2025): 14,698 people
• By 2030: 14,481 · -1.5%
• By 2040: 13,709 · -6.7%
• By 2050: 12,777 · -13.1%
• By 2075: 11,550 · -21.4%
• By 2100: 9,908 · -32.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Two or more races 7% Native American 4% Hispanic / Latino 2%
• Common ancestry: Portuguese 14% Romanian 7% Lithuanian 4%
• Foreign-born: 2%
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Bayfield

• 2024 margin: D (+11.1) · D 54.5% · R 43.4% · Other 2.1%
• 2008→2024 swing: -16.4pp toward R · 2008: 27.5pp · 2024: 11.1pp
• All cycles: 2024: D+11.1 2020: D+14.1 2016: D+8.7 2012: D+24.9 2008: D+27.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -116.32%
• Current HPI: 214.3886
• 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

-35.1% since first listed

7 events — show timeline

• 2026-06-18 Sold (MLS) $120,000 LSAR
• 2026-05-18 Pending — LSAR
• 2026-05-18 Pending — SAAR
• 2026-05-08 Price Changed $154,900 SAAR
• 2026-05-08 Price Changed $154,900 LSAR
• 2026-03-25 Listed $184,900 SAAR
• 2026-03-25 Listed $184,900 LSAR