15326 W Birch Point Rd Unit 15-21 · Lenroot, WI 54843

$474,900

None bd · None ba · 1,833 sqft · Condo · 78 Days on market

Built 1993 Good condition ↓ 20% 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
• Condition / age +3.8/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Livability +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

Seller financing up to 10% for qualified buyers! Priced to move! Turn-Key Lakefront Investment or Family Retreat on Nelson Lake! Rare opportunity to own 7 individual condo units (Units 15?21) at Birch Point Resort in Hayward. These fully furnished, remodeled units are currently operating as successful short-term rentals with strong income potential, while also offering a unique multi-family setup?allowing everyone their own private space while vacationing together. Each unit features a private deck with beautiful lake views. There is currently one dock installed, with designated spaces available for each unit to add additional docks, offering future flexibility and value. Unit #17 has been newly remodeled and includes a kitchenette, making it especially attractive for extended stays, while the remaining units offer two beds, private bathrooms, and adjoining layouts?ideal for accommodating larger groups. Birch Point Resort delivers a true Northwoods experience with private beach access, a volleyball area, and direct lake enjoyment on Nelson Lake. Guests benefit from convenient nearby dining options, including a bar within walking distance and additional restaurants accessible by boat, along with close proximity to ATV/UTV and snowmobile trails for year-round recreation. The association is vacation rental friendly and handles lawn care and snow removal, creating a low-maintenance ownership experience. Association dues are $190.48 per unit, paid quarterly. Major updates include a roof approximately 7 years old and a boiler replaced approximately 3 years ago. Each unit has its own tax ID, providing flexibility to sell individually or maintain as a high-performing investment portfolio. Additional Birch Point units (9?14, excluding 13) are also available for purchase. Virtual tour and new photos coming end of April/beginning of May.

Key facts

• Private deck
• Lake views
• Remodeled units

Tags

• LAKEFRONT INVESTMENT
• FULLY FURNISHED
• REMODELED UNITS
• PRIVATE DECK
• LAKE VIEWS
• DESIGNATED SPACES

What this means for you Summary

Snapshot

• This is a condo listed at $475k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-3k ($-39k/yr) — negative.
• Rent doesn't cover operating costs at any purchase price — skip.
• Recommended offer: $446k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade F — affects rentability + tenant quality, not the cash-flow math above.
• Hayward Community School District (rural): math 40% / reading 38% proficiency, ranked #187 of 342 in WI (top 55%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 213 active listings in the ZIP; 228 units permitted in Sawyer County in 2024 (16 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $14k of value loss. Plan a longer hold.
• Sawyer County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 78 days — a 6% lower offer ($446k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y ago; this cycle's ask has dropped $25k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $446,406 (6.0% 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 78 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
3. 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?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
8. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
9. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
10. 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.
11. 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.
12. 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: 0.00% ✗
• Cap rate: -2.00%
• Cash-on-cash: -29.62%
• DSCR: -0.32
• GRM: 0.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -87.0%
• Equity multiple: -1.15×
• Total profit: $-285,982
• Equity at exit: $70,809

10-year hold

• IRR: —
• Equity multiple: -2.90×
• Total profit: $-518,184
• Equity at exit: $41,061

Cash invested: $132,972 (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 54843

• Home prices YoY: -22.1%
• Active inventory: 213

Monthly cashflow live

• Estimated rent: $0 none
• Mortgage (P&I): −$2,490
• Tax est. 1.5%: −$594 /mo · $7,124/yr
• Insurance: −$198
• HOA: −$0
• Vacancy / Maint / Mgmt: −$0
• Net cashflow: $-3,282

Break-even live

Break-even rent $4,154

Max offer price —

Occupancy floor —

Sensitivity live

Price	-10% $-2,954	-5% $-3,118	+0% $-3,282	+5% $-3,446	+10% $-3,610
Rent	-10% $-3,282	-5% $-3,282	+0% $-3,282	+5% $-3,282	+10% $-3,282
Rate	-1.0pp $-3,043	-0.5pp $-3,161	base $-3,282	+0.5pp $-3,405	+1.0pp $-3,530

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: $118,725
• Closing costs: $14,247
• Reserves months: —
• Total cash needed: —

HOA detail condo

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

Listing history 26 events

1. 2026-06-21
   days on market $474,900 Active 78 DOM
2. 2026-06-18
   days on market $474,900 Active 76 DOM
3. 2026-06-17
   days on market $474,900 Active 75 DOM
4. 2026-06-16
   days on market $474,900 Active 74 DOM
5. 2026-06-15
   days on market $474,900 Active 73 DOM
6. 2026-06-15
   days on market $474,900 Active 72 DOM
7. 2026-06-13
   days on market $474,900 Active 71 DOM
8. 2026-06-12
   days on market $474,900 Active 70 DOM
9. 2026-06-09
   days on market $474,900 Active 67 DOM
10. 2026-06-08
    days on market $474,900 Active 66 DOM
11. 2026-06-08
    days on market $474,900 Active 65 DOM
12. 2026-06-07
    days on market $474,900 Active 64 DOM
13. 2026-06-03
    days on market $474,900 Active 61 DOM
14. 2026-06-02
    days on market $474,900 Active 60 DOM
15. 2026-06-01
    days on market $474,900 Active 59 DOM
16. 2026-05-31
    days on market $474,900 Active 58 DOM
17. 2026-05-12
    price $474,900 1858-char remark

    Show marketing remark (1858 chars)

    Seller financing up to 10% for qualified buyers! Priced to move! Turn-Key Lakefront Investment or Family Retreat on Nelson Lake! Rare opportunity to own 7 individual condo units (Units 15?21) at Birch Point Resort in Hayward. These fully furnished, remodeled units are currently operating as successful short-term rentals with strong income potential, while also offering a unique multi-family setup?allowing everyone their own private space while vacationing together. Each unit features a private deck with beautiful lake views. There is currently one dock installed, with designated spaces available for each unit to add additional docks, offering future flexibility and value. Unit #17 has been newly remodeled and includes a kitchenette, making it especially attractive for extended stays, while the remaining units offer two beds, private bathrooms, and adjoining layouts?ideal for accommodating larger groups. Birch Point Resort delivers a true Northwoods experience with private beach access, a volleyball area, and direct lake enjoyment on Nelson Lake. Guests benefit from convenient nearby dining options, including a bar within walking distance and additional restaurants accessible by boat, along with close proximity to ATV/UTV and snowmobile trails for year-round recreation. The association is vacation rental friendly and handles lawn care and snow removal, creating a low-maintenance ownership experience. Association dues are $190.48 per unit, paid quarterly. Major updates include a roof approximately 7 years old and a boiler replaced approximately 3 years ago. Each unit has its own tax ID, providing flexibility to sell individually or maintain as a high-performing investment portfolio. Additional Birch Point units (9?14, excluding 13) are also available for purchase. Virtual tour and new photos coming end of April/beginning of May.

18. 2026-04-03
    listed $499,900 Active 1858-char remark

    Show marketing remark (1858 chars)

    Seller financing up to 10% for qualified buyers! Priced to move! Turn-Key Lakefront Investment or Family Retreat on Nelson Lake! Rare opportunity to own 7 individual condo units (Units 15?21) at Birch Point Resort in Hayward. These fully furnished, remodeled units are currently operating as successful short-term rentals with strong income potential, while also offering a unique multi-family setup?allowing everyone their own private space while vacationing together. Each unit features a private deck with beautiful lake views. There is currently one dock installed, with designated spaces available for each unit to add additional docks, offering future flexibility and value. Unit #17 has been newly remodeled and includes a kitchenette, making it especially attractive for extended stays, while the remaining units offer two beds, private bathrooms, and adjoining layouts?ideal for accommodating larger groups. Birch Point Resort delivers a true Northwoods experience with private beach access, a volleyball area, and direct lake enjoyment on Nelson Lake. Guests benefit from convenient nearby dining options, including a bar within walking distance and additional restaurants accessible by boat, along with close proximity to ATV/UTV and snowmobile trails for year-round recreation. The association is vacation rental friendly and handles lawn care and snow removal, creating a low-maintenance ownership experience. Association dues are $190.48 per unit, paid quarterly. Major updates include a roof approximately 7 years old and a boiler replaced approximately 3 years ago. Each unit has its own tax ID, providing flexibility to sell individually or maintain as a high-performing investment portfolio. Additional Birch Point units (9?14, excluding 13) are also available for purchase. Virtual tour and new photos coming end of April/beginning of May.

19. 2026-01-07
    status Pending 1003-char remark

    Show marketing remark (1003 chars)

    INVESTORS (Lake Front Property)-7 Remodeled Condos on renowned Nelson Lake in Hayward, WI. Purchased at the end of the year of 2021. Remodeled in 2022 & established as Vacation Rentals in 2023. Huge income potential. Units come turn key- Fully Furnished & ready to rent. Bookings already on the books through Air B & B/VRBO and can be rented year round. New boiler and opportunity to put coin laundry in the utility room for extra income. Every room comes with 2 beds, mini fridge, TV, dcor, other furniture, bedding/towels and private decks overlooking Nelson Lake. Condos all have their own tax ID and can be sold individually. Hayward is a destination year round with it many events and draw from the Twin Cities down to Chicago area. Lawn and Snow is maintained by the Association. Birch Point Association is Vacation Rental friendly and offers a private beach for owners and guests as well as two bar/restaurants within walking distance of the condos. Do not miss this opportunity!

20. 2025-12-29
    historical 1003-char remark

    Show marketing remark (1003 chars)

    INVESTORS (Lake Front Property)-7 Remodeled Condos on renowned Nelson Lake in Hayward, WI. Purchased at the end of the year of 2021. Remodeled in 2022 & established as Vacation Rentals in 2023. Huge income potential. Units come turn key- Fully Furnished & ready to rent. Bookings already on the books through Air B & B/VRBO and can be rented year round. New boiler and opportunity to put coin laundry in the utility room for extra income. Every room comes with 2 beds, mini fridge, TV, dcor, other furniture, bedding/towels and private decks overlooking Nelson Lake. Condos all have their own tax ID and can be sold individually. Hayward is a destination year round with it many events and draw from the Twin Cities down to Chicago area. Lawn and Snow is maintained by the Association. Birch Point Association is Vacation Rental friendly and offers a private beach for owners and guests as well as two bar/restaurants within walking distance of the condos. Do not miss this opportunity!

21. 2025-07-07
    historical Contingent 1003-char remark

    Show marketing remark (1003 chars)

    INVESTORS (Lake Front Property)-7 Remodeled Condos on renowned Nelson Lake in Hayward, WI. Purchased at the end of the year of 2021. Remodeled in 2022 & established as Vacation Rentals in 2023. Huge income potential. Units come turn key- Fully Furnished & ready to rent. Bookings already on the books through Air B & B/VRBO and can be rented year round. New boiler and opportunity to put coin laundry in the utility room for extra income. Every room comes with 2 beds, mini fridge, TV, dcor, other furniture, bedding/towels and private decks overlooking Nelson Lake. Condos all have their own tax ID and can be sold individually. Hayward is a destination year round with it many events and draw from the Twin Cities down to Chicago area. Lawn and Snow is maintained by the Association. Birch Point Association is Vacation Rental friendly and offers a private beach for owners and guests as well as two bar/restaurants within walking distance of the condos. Do not miss this opportunity!

22. 2025-07-06
    historical 1003-char remark

    Show marketing remark (1003 chars)

    INVESTORS (Lake Front Property)-7 Remodeled Condos on renowned Nelson Lake in Hayward, WI. Purchased at the end of the year of 2021. Remodeled in 2022 & established as Vacation Rentals in 2023. Huge income potential. Units come turn key- Fully Furnished & ready to rent. Bookings already on the books through Air B & B/VRBO and can be rented year round. New boiler and opportunity to put coin laundry in the utility room for extra income. Every room comes with 2 beds, mini fridge, TV, dcor, other furniture, bedding/towels and private decks overlooking Nelson Lake. Condos all have their own tax ID and can be sold individually. Hayward is a destination year round with it many events and draw from the Twin Cities down to Chicago area. Lawn and Snow is maintained by the Association. Birch Point Association is Vacation Rental friendly and offers a private beach for owners and guests as well as two bar/restaurants within walking distance of the condos. Do not miss this opportunity!

23. 2025-05-21
    price $520,000 1003-char remark

    Show marketing remark (1003 chars)

    INVESTORS (Lake Front Property)-7 Remodeled Condos on renowned Nelson Lake in Hayward, WI. Purchased at the end of the year of 2021. Remodeled in 2022 & established as Vacation Rentals in 2023. Huge income potential. Units come turn key- Fully Furnished & ready to rent. Bookings already on the books through Air B & B/VRBO and can be rented year round. New boiler and opportunity to put coin laundry in the utility room for extra income. Every room comes with 2 beds, mini fridge, TV, dcor, other furniture, bedding/towels and private decks overlooking Nelson Lake. Condos all have their own tax ID and can be sold individually. Hayward is a destination year round with it many events and draw from the Twin Cities down to Chicago area. Lawn and Snow is maintained by the Association. Birch Point Association is Vacation Rental friendly and offers a private beach for owners and guests as well as two bar/restaurants within walking distance of the condos. Do not miss this opportunity!

24. 2024-04-05
    status Active 1003-char remark

    Show marketing remark (1003 chars)

    INVESTORS (Lake Front Property)-7 Remodeled Condos on renowned Nelson Lake in Hayward, WI. Purchased at the end of the year of 2021. Remodeled in 2022 & established as Vacation Rentals in 2023. Huge income potential. Units come turn key- Fully Furnished & ready to rent. Bookings already on the books through Air B & B/VRBO and can be rented year round. New boiler and opportunity to put coin laundry in the utility room for extra income. Every room comes with 2 beds, mini fridge, TV, dcor, other furniture, bedding/towels and private decks overlooking Nelson Lake. Condos all have their own tax ID and can be sold individually. Hayward is a destination year round with it many events and draw from the Twin Cities down to Chicago area. Lawn and Snow is maintained by the Association. Birch Point Association is Vacation Rental friendly and offers a private beach for owners and guests as well as two bar/restaurants within walking distance of the condos. Do not miss this opportunity!

25. 2024-03-27
    historical Contingent 1003-char remark

    Show marketing remark (1003 chars)

    INVESTORS (Lake Front Property)-7 Remodeled Condos on renowned Nelson Lake in Hayward, WI. Purchased at the end of the year of 2021. Remodeled in 2022 & established as Vacation Rentals in 2023. Huge income potential. Units come turn key- Fully Furnished & ready to rent. Bookings already on the books through Air B & B/VRBO and can be rented year round. New boiler and opportunity to put coin laundry in the utility room for extra income. Every room comes with 2 beds, mini fridge, TV, dcor, other furniture, bedding/towels and private decks overlooking Nelson Lake. Condos all have their own tax ID and can be sold individually. Hayward is a destination year round with it many events and draw from the Twin Cities down to Chicago area. Lawn and Snow is maintained by the Association. Birch Point Association is Vacation Rental friendly and offers a private beach for owners and guests as well as two bar/restaurants within walking distance of the condos. Do not miss this opportunity!

26. 2023-09-21
    listed $595,000 Active 1003-char remark

    Show marketing remark (1003 chars)

    INVESTORS (Lake Front Property)-7 Remodeled Condos on renowned Nelson Lake in Hayward, WI. Purchased at the end of the year of 2021. Remodeled in 2022 & established as Vacation Rentals in 2023. Huge income potential. Units come turn key- Fully Furnished & ready to rent. Bookings already on the books through Air B & B/VRBO and can be rented year round. New boiler and opportunity to put coin laundry in the utility room for extra income. Every room comes with 2 beds, mini fridge, TV, dcor, other furniture, bedding/towels and private decks overlooking Nelson Lake. Condos all have their own tax ID and can be sold individually. Hayward is a destination year round with it many events and draw from the Twin Cities down to Chicago area. Lawn and Snow is maintained by the Association. Birch Point Association is Vacation Rental friendly and offers a private beach for owners and guests as well as two bar/restaurants within walking distance of the condos. Do not miss this opportunity!

ⓘ 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 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 1/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $0
• − Mortgage interest: −$26,602
• − Property taxes: −$7,124
• − Insurance: −$2,374
• − Repairs & maintenance: −$0
• − Management: −$0
• − Depreciation: −$13,815
• Taxable loss: −$49,915
• Est. tax savings @ 24.0%: +$11,980
• After-tax cash flow: $-27,404/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.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab

This multi-family property offers 7 fully furnished and remodeled units with private decks and lake views. The home is in good condition with minor cosmetic updates needed to enhance its curb appeal and functionality.

Value-add opportunities

• Both Paint the exterior and interior walls to enhance curb appeal and protect surfaces from weathering — Painting will improve the home's appearance and protect the surfaces from weathering
• Both Replace the dock to ensure safety and functionality — A new dock will improve the home's functionality and safety, making it more attractive to potential buyers and renters
• Both Install a new boiler or HVAC system to ensure comfort and energy efficiency — A new system will improve the home's comfort and energy efficiency, making it more attractive to potential buyers and renters

Renovation cost estimate screening

Value-add ROI direction

• Both Paint the exterior and interior walls to enhance curb appeal and protect surfaces from weathering — Painting will improve the home's appearance and protect the surfaces from weathering ↑
• Both Replace the dock to ensure safety and functionality — A new dock will improve the home's functionality and safety, making it more attractive to potential buyers and renters ↑
• Both Install a new boiler or HVAC system to ensure comfort and energy efficiency — A new system will improve the home's comfort and energy efficiency, making it more attractive to potential buyers and renters ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Hayward Community School District
• NCES district ID: 5506270
• Math proficiency: 40% ▼ -8.00%
• Reading proficiency: 38% ▼ -4.00%
• Median HH income: $41,508
• Composite: 32.87/100
• National rank: #5612
• State rank: #187 of 342 in WI

Livability — Lenroot

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 13,167

Population outlook (Sawyer County) Hauer SSP2

• Today (2025): 15,448 people
• By 2030: 14,715 · -4.7%
• By 2040: 13,039 · -15.6%
• By 2050: 11,490 · -25.6%
• By 2075: 9,280 · -39.9%
• By 2100: 7,399 · -52.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Native American 15% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Portuguese 8% Romanian 5% Lithuanian 3%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 1%

Political lean MEDSL · Sawyer

• 2024 margin: R (+16.4) · D 41.4% · R 57.7%
• 2008→2024 swing: -22.6pp toward R · 2008: 6.2pp · 2024: -16.4pp
• All cycles: 2024: R+16.4 2020: R+13.4 2016: R+22.9 2012: D+0.5 2008: D+6.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -53.39%
• Current HPI: 188.4382
• 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

-20.2% since first listed

10 events — show timeline

• 2026-05-12 Price Changed $474,900 RANWW
• 2026-04-03 Listed $499,900 RANWW
• 2026-01-07 Pending — RANWW
• 2025-12-29 Listing Removed — RANWW
• 2025-07-07 Contingent — RANWW
• 2025-07-06 Listing Removed — RANWW
• 2025-05-21 Price Changed $520,000 RANWW
• 2024-04-05 Relisted — RANWW
• 2024-03-27 Contingent — RANWW
• 2023-09-21 Listed $595,000 RANWW