9568 E Spruce Dr · Gordon, WI 54836

$78,950

2 bd · 1.0 ba · 840 sqft · Other · 97 Days on market

Built 1969 0.38 ac lot $94/sqft · 47% below area Est $150k · 47% under

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Why this score? — see what drove the B+ 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 +27.2/30.0
• ARV discount +15.0/15.0
• DSCR +9.5/10.0
• Appreciation +7.6/10.0
• 1% rule +6.3/10.0
• Livability +2.9/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Affordable year round Home or Cabin in a quiet area. 2 bdrm/1 ba Manufactured home set on a large lot over a 1/3 of an acre. Recent updates include a new well, new furnace and a new shower unit install. Comes with a detached storage building, and the yard has mature pine trees too. Priced to sell!!

Key facts

• New furnace
• New well
• New shower unit

Tags

• YEAR ROUND HOME
• QUIET AREA
• LARGE LOT
• NEW WELL
• NEW FURNACE
• NEW SHOWER UNIT

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $79k.

Deal economics

• At list price, monthly cash flow is $227 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($888 rent vs $79k).
• Recommended offer: $72k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 57/100 on livability (#751 in WI) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: crime C-, employment D+, health & safety D.
• Northwood School District (rural): math 30% / reading 25% proficiency, ranked #391 of 426 in WI (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 5 active listings in the ZIP; 110 units permitted in Douglas County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($546 loan paydown + $4k appreciation (5.2% local appreciation)).
• Douglas County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (5.2% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 97 days — a 9% lower offer ($72k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $6k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $10k; list at $79k implies a 690% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $71,844 (9.0% below list)

Questions for the listing agent

1. It's been on market 97 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1969 — 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: 1.13% ✓
• Cap rate: 9.74%
• Cash-on-cash: 12.31%
• DSCR: 1.55
• GRM: 7.4

CMA / ARV

• ARV (median comp): $150,064
• List price: $78,950
• Delta: -47.39%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Projected returns pro-forma

5.23% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 23.9%
• Equity multiple: 2.52×
• Total profit: $33,644
• Equity at exit: $45,840

10-year hold

• IRR: 23.1%
• Equity multiple: 5.01×
• Total profit: $88,707
• Equity at exit: $80,039

Cash invested: $22,106 (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 54836

• Home prices YoY: 2.5%
• Active inventory: 5
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $888 medium
• Mortgage (P&I): −$414
• Tax from tax record: −$28 /mo · $338/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$187
• Net cashflow: $227

Break-even live

Break-even rent $601

Max offer price $78,950

Occupancy floor 69%

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: $19,738
• Closing costs: $2,368
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-12
   statuslisting id $78,950 Pending 97 DOM
2. 2026-06-09
   days on market $78,950 Active 97 DOM
3. 2026-06-08
   days on market $78,950 Active 96 DOM
4. 2026-06-08
   days on market $78,950 Active 95 DOM
5. 2026-06-05
   days on market $78,950 Active 93 DOM
6. 2026-06-03
   days on market $78,950 Active 91 DOM
7. 2026-06-02
   days on market $78,950 Active 90 DOM
8. 2026-06-01
   days on market $78,950 Active 89 DOM
9. 2026-05-31
   days on market $78,950 Active 88 DOM
10. 2026-05-16
    price $78,950 299-char remark

    Show marketing remark (299 chars)

    Affordable year round Home or Cabin in a quiet area. 2 bdrm/1 ba Manufactured home set on a large lot over a 1/3 of an acre. Recent updates include a new well, new furnace and a new shower unit install. Comes with a detached storage building, and the yard has mature pine trees too. Priced to sell!!

11. 2026-05-16
    price $78,950 299-char remark

    Show marketing remark (299 chars)

    Affordable year round Home or Cabin in a quiet area. 2 bdrm/1 ba Manufactured home set on a large lot over a 1/3 of an acre. Recent updates include a new well, new furnace and a new shower unit install. Comes with a detached storage building, and the yard has mature pine trees too. Priced to sell!!

12. 2026-03-03
    listed $84,950 Active 299-char remark

    Show marketing remark (299 chars)

    Affordable year round Home or Cabin in a quiet area. 2 bdrm/1 ba Manufactured home set on a large lot over a 1/3 of an acre. Recent updates include a new well, new furnace and a new shower unit install. Comes with a detached storage building, and the yard has mature pine trees too. Priced to sell!!

13. 2026-03-03
    listed $84,950 Active 299-char remark

    Show marketing remark (299 chars)

    Affordable year round Home or Cabin in a quiet area. 2 bdrm/1 ba Manufactured home set on a large lot over a 1/3 of an acre. Recent updates include a new well, new furnace and a new shower unit install. Comes with a detached storage building, and the yard has mature pine trees too. Priced to sell!!

14. 2011-10-31
    soldstatus $10,000

ⓘ 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: $338 · $28/mo
• Projected year-2 tax: $899 · $75/mo
• Expected delta: +$561/yr (+$47/mo · 166.0%)

ⓘ 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 5/10 Major
• 🌡 Heat 1/10 Low 7 d/yr ≥95°F today · 12 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: $10,661
• − Mortgage interest: −$4,422
• − Property taxes: −$338
• − Insurance: −$395
• − Repairs & maintenance: −$853
• − Management: −$853
• − Depreciation: −$2,297
• Taxable income: $1,503
• Est. tax owed @ 24.0%: −$361
• After-tax cash flow: $2,360/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: Northwood School District
• NCES district ID: 5509720
• Math proficiency: 30% ▼ -5.00%
• Reading proficiency: 25% ▼ -10.00%
• Median HH income: $45,488
• Composite: 26.65/100
• National rank: #12588
• State rank: #391 of 426 in WI

Livability — Gordon

• Score: 57/100
• State rank: #751
• US rank: #21951

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gordon, WI
• City population: 1,302
• Population (ZIP): 933

Population outlook (Douglas County) Hauer SSP2

• Today (2025): 42,505 people
• By 2030: 41,269 · -2.9%
• By 2040: 37,829 · -11.0%
• By 2050: 34,043 · -19.9%
• By 2075: 25,892 · -39.1%
• By 2100: 19,487 · -54.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Two or more races 7% Hispanic / Latino 7% Native American 1%
• Common ancestry: Portuguese 15% Romanian 9% Lithuanian 3%
• Languages at home: 99% English-only · French/Haitian/Cajun 1%

Political lean MEDSL · Douglas

• 2024 margin: Lean D (+5.3) · D 52.0% · R 46.6% · Other 1.4%
• 2008→2024 swing: -27.9pp toward R · 2008: 33.2pp · 2024: 5.3pp
• All cycles: 2024: D+5.3 2020: D+9.3 2016: D+7.6 2012: D+31.3 2008: D+33.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.23%
• Current HPI: 214.6895
• 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

+689.5% since first listed

5 events — show timeline

• 2026-05-16 Price Changed $78,950 SAAR
• 2026-05-16 Price Changed $78,950 LSAR
• 2026-03-03 Listed $84,950 LSAR
• 2026-03-03 Listed $84,950 SAAR
• 2011-10-31 Sold (Public Records) $10,000 Public Records

Property tax history

+2.3%/yr

Latest (2025): $338 · +2.3% YoY. Source: county tax records.