1417 2nd St Unit B · New Glarus, WI 53574

$260,000

2 bd · 1.5 ba · 1,560 sqft · Condo · 3 Days on market

Built 2005

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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).

• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.5/10.0
• Livability +4.2/5.0
• Cash flow +3.1/30.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0

Listing remarks MLS

Bright and inviting, this home offers comfort and convenience in a great edge-of-town location near schools and a park with no condo fee! The open-concept floor plan creates a spacious feel, perfect for everyday living and entertaining. Generously sized bedrooms provide plenty of space, including a primary bedroom with a walk-in closet. The unfinished basement is stubbed for a future bathroom and offers excellent potential for additional living space, a home gym, or extra storage. Enjoy relaxing on the back deck overlooking a neighboring lot, with peaceful views of sunsets and nature. New roof in 2025! New furnace in 2026! Located in the charming community of New Glarus, you?ll love the welcoming atmosphere, unique local shops, great restaurants, Bailey's Run Winery, New Glarus Brewing Company, and year-round festivals that make this town such a special place to call home!

Key facts

• 4,791 sq ft lot
• 2 garage spots
• Built 2005

Property features AI

Finance

• Other: Lot size about 0.11 acre; Zoned residential
• HOA & community: No yearly HOA fee reported

Exterior

• Parking: Attached 2-car garage with opener
• Utilities: Municipal water; Municipal sewer; Natural gas
• Home design: 2-story condominium with shared wall; Single-family property type; Subdivision: 2nd St Condos
• Construction: Full poured concrete basement; Finished above grade living area approximately 1,560; Estimated total living area range 1,501–1,750
• Exterior features: Deck; Vinyl exterior

Interior

• Kitchen: Range/oven; Refrigerator; Dishwasher; Microwave; Garbage disposal; Pantry
• Bedrooms: Master bedroom (upper) about 10 x 14; Second bedroom (upper) about 11 x 14
• Bathrooms: One full bathroom; One half bathroom; Master bath with tub/shower combo; At least one tub; Lower level stubbed for future bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Walk-in closets; Water softener; Cable/satellite available
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $260k.

Deal economics

• At list price, monthly cash flow is $-831 ($-10k/yr) — negative.
• To cash-flow at today's rent, offer at most $113k (56.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $123k (52.7% below list).
• Recommended offer: $113k (56.5% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 85/100 on livability (#31 in WI, #593 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: commute F.
• New Glarus School District (rural): math 49% / reading 51% proficiency, ranked #48 of 342 in WI (top 14%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 18% free/reduced lunch — higher-income household profile.
• Zoned schools: New Glarus Elementary (math 62% / reading 54%, grade C+, #124 of 1,041 statewide, top 12%, 422 students, 19% FRL); New Glarus Middle (math 42% / reading 52%, grade D+, #73 of 383 statewide, top 22%, 219 students, 21% FRL); New Glarus High (math 32% / reading 37%, grade F, #144 of 483 statewide, top 36%, 320 students, 22% FRL) — zoned schools at 21% FRL track the district average.
• Market conditions: 22 active listings in the ZIP; 62 units permitted in Green County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $28k of equity ($2k loan paydown + $26k appreciation (10.0% local appreciation)).
• Green County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• By year 2, paydown + projected appreciation supports a ~$45k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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.

Recommended offer $113,199 (56.5% 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. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 0.47% ✗
• Cap rate: 2.46%
• Cash-on-cash: -13.70%
• DSCR: 0.39
• GRM: 17.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 14.7%
• Equity multiple: 2.22×
• Total profit: $88,698
• Equity at exit: $234,229

10-year hold

• IRR: 14.5%
• Equity multiple: 5.16×
• Total profit: $302,868
• Equity at exit: $505,123

Cash invested: $72,800 (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 53574

• Home prices YoY: 6.4%
• Active inventory: 22
• Price-to-rent: 17.6×

Monthly cashflow live

• Estimated rent: $1,231 medium
• Mortgage (P&I): −$1,363
• Tax from tax record: −$331 /mo · $3,976/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$258
• Net cashflow: $-831

Break-even live

Break-even rent $2,282

Max offer price $113,199

Occupancy floor —

Sensitivity live

Price	-10% $-684	-5% $-757	+0% $-831	+5% $-905	+10% $-978
Rent	-10% $-928	-5% $-880	+0% $-831	+5% $-782	+10% $-734
Rate	-1.0pp $-700	-0.5pp $-765	base $-831	+0.5pp $-898	+1.0pp $-967

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: $65,000
• Closing costs: $7,800
• Reserves months: —
• Total cash needed: —

HOA detail condo

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

Listing history 6 events

1. 2026-05-09
   status Pending 885-char remark

   Show marketing remark (885 chars)

   Bright and inviting, this home offers comfort and convenience in a great edge-of-town location near schools and a park with no condo fee! The open-concept floor plan creates a spacious feel, perfect for everyday living and entertaining. Generously sized bedrooms provide plenty of space, including a primary bedroom with a walk-in closet. The unfinished basement is stubbed for a future bathroom and offers excellent potential for additional living space, a home gym, or extra storage. Enjoy relaxing on the back deck overlooking a neighboring lot, with peaceful views of sunsets and nature. New roof in 2025! New furnace in 2026! Located in the charming community of New Glarus, you?ll love the welcoming atmosphere, unique local shops, great restaurants, Bailey's Run Winery, New Glarus Brewing Company, and year-round festivals that make this town such a special place to call home!

2. 2026-05-09
   status Pending 885-char remark

   Show marketing remark (885 chars)

   Bright and inviting, this home offers comfort and convenience in a great edge-of-town location near schools and a park with no condo fee! The open-concept floor plan creates a spacious feel, perfect for everyday living and entertaining. Generously sized bedrooms provide plenty of space, including a primary bedroom with a walk-in closet. The unfinished basement is stubbed for a future bathroom and offers excellent potential for additional living space, a home gym, or extra storage. Enjoy relaxing on the back deck overlooking a neighboring lot, with peaceful views of sunsets and nature. New roof in 2025! New furnace in 2026! Located in the charming community of New Glarus, you?ll love the welcoming atmosphere, unique local shops, great restaurants, Bailey's Run Winery, New Glarus Brewing Company, and year-round festivals that make this town such a special place to call home!

3. 2026-05-05
   listed $260,000 Active 885-char remark

   Show marketing remark (885 chars)

   Bright and inviting, this home offers comfort and convenience in a great edge-of-town location near schools and a park with no condo fee! The open-concept floor plan creates a spacious feel, perfect for everyday living and entertaining. Generously sized bedrooms provide plenty of space, including a primary bedroom with a walk-in closet. The unfinished basement is stubbed for a future bathroom and offers excellent potential for additional living space, a home gym, or extra storage. Enjoy relaxing on the back deck overlooking a neighboring lot, with peaceful views of sunsets and nature. New roof in 2025! New furnace in 2026! Located in the charming community of New Glarus, you?ll love the welcoming atmosphere, unique local shops, great restaurants, Bailey's Run Winery, New Glarus Brewing Company, and year-round festivals that make this town such a special place to call home!

4. 2026-05-05
   listed $260,000 Active 885-char remark

   Show marketing remark (885 chars)

   Bright and inviting, this home offers comfort and convenience in a great edge-of-town location near schools and a park with no condo fee! The open-concept floor plan creates a spacious feel, perfect for everyday living and entertaining. Generously sized bedrooms provide plenty of space, including a primary bedroom with a walk-in closet. The unfinished basement is stubbed for a future bathroom and offers excellent potential for additional living space, a home gym, or extra storage. Enjoy relaxing on the back deck overlooking a neighboring lot, with peaceful views of sunsets and nature. New roof in 2025! New furnace in 2026! Located in the charming community of New Glarus, you?ll love the welcoming atmosphere, unique local shops, great restaurants, Bailey's Run Winery, New Glarus Brewing Company, and year-round festivals that make this town such a special place to call home!

5. 2022-04-19
   soldstatus $220,000
6. 2016-06-10
   soldstatus $140,000

ⓘ 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: $3,976 · $331/mo
• Projected year-2 tax: $4,393 · $366/mo
• Expected delta: +$417/yr (+$35/mo · 10.5%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥100°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,767
• − Mortgage interest: −$14,564
• − Property taxes: −$3,976
• − Insurance: −$1,300
• − Repairs & maintenance: −$1,181
• − Management: −$1,181
• − Depreciation: −$7,564
• Taxable loss: −$15,000
• Est. tax savings @ 24.0%: +$3,600
• After-tax cash flow: $-6,372/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: New Glarus School District
• NCES district ID: 5510500
• Math proficiency: 49% ▼ -4.00%
• Reading proficiency: 51% ▲ 3.00%
• Median HH income: $71,669
• Composite: 44.86/100
• National rank: #2729
• State rank: #48 of 342 in WI

Livability — New Glarus

• Score: 85/100
• State rank: #31
• US rank: #593

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Glarus, WI
• Population (ZIP): 4,120

Population outlook (Green County) Hauer SSP2

• Today (2025): 37,753 people
• By 2030: 37,767 · +0.0%
• By 2040: 37,101 · -1.7%
• By 2050: 35,339 · -6.4%
• By 2075: 30,749 · -18.6%
• By 2100: 23,786 · -37.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 2% Hispanic / Latino 2%
• Common ancestry: Portuguese 14% Romanian 3% Lithuanian 2%
• Foreign-born: 3% · South Korea, Canada
• Languages at home: 98% English-only · Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Green

• 2024 margin: Toss-up / Even · D 49.5% · R 49.2% · Other 1.3%
• 2008→2024 swing: -25.5pp toward R · 2008: 25.8pp · 2024: 0.3pp
• All cycles: 2024: D+0.3 2020: D+3.2 2016: D+2.3 2012: D+17.3 2008: D+25.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 27.00%
• Current HPI: 448.03
• 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

+92.9% since first listed

8 events — show timeline

• 2026-06-08 Sold (MLS) — SCWMLS
• 2026-06-08 Sold (MLS) $270,000 SCWMLS
• 2026-05-09 Pending — SCWMLS
• 2026-05-09 Pending — SCWMLS
• 2026-05-05 Listed $260,000 SCWMLS
• 2026-05-05 Listed $260,000 SCWMLS
• 2022-04-19 Sold (Public Records) $220,000 Public Records
• 2016-06-10 Sold (Public Records) $140,000 Public Records

Property tax history

+1.9%/yr

Latest (2025): $3,976 · +2.6% YoY. Source: county tax records.