206 N 2nd Ave · Wausau, WI 54401

$155,000

4 bd · 1.0 ba · 1,376 sqft · SingleFamily public records · 106 Days on market

Built 1890 6,969 sqft lot $113/sqft · at area comps Est $156k · at est.

---

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).

• Cash flow +15.7/30.0
• ARV discount +7.9/15.0
• Rent growth +5.0/5.0
• DSCR +4.8/10.0
• Livability +4.5/5.0
• 1% rule +4.4/10.0
• Schools +3.0/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This spacious 4-bedroom home offers the perfect footprint for a growing household or a savvy investor. Featuring a versatile layout and generous room sizes, there is plenty of space to live, work, and play. Bring your finishing touches to this solid home and build instant equity in a great neighborhood! Sell as-is

Key facts

• 6,969 sq ft lot
• Garage
• Built 1890

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $155k.

Deal economics

• At list price, monthly cash flow is $68 ($818/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $145k (6.3% below list).
• Recommended offer: $141k (9.0% below list) — sets the bar for market timing.
• Cap rate 6.8% vs local median 3.3% in Wausau — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 91/100 on livability (#4 in WI, #55 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: schools C-, employment D.
• Wausau School District (urban): math 33% / reading 36% proficiency, ranked #235 of 342 in WI (top 69%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+10.2%/yr); 66 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 298 units permitted in Marathon County in 2024 (81 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.
• Marathon County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 106 days — a 9% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 12y ago; this cycle's ask has dropped $21k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $141,050 (9.0% below list)

Questions for the listing agent

1. It's been on market 106 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 1890 — 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. 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?
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: 0.94% ✗
• Cap rate: 6.82%
• Cash-on-cash: 1.88%
• DSCR: 1.08
• GRM: 8.9

CMA / ARV

• ARV (median comp): $156,422
• List price: $155,000
• Delta: -0.91%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
115 N 2nd Ave	0.08mi	3/1.5 (-1)	1,395 (+1%)	3mo	$185,500	$133	84
827 N 2nd Ave	0.62mi	4/1.0	1,352 (-2%)	0mo	$230,000	$170	68
902 Elm St	0.40mi	3/1.5 (-1)	1,430 (+4%)	1mo	$115,000	$80	67
1002 Maple St	0.44mi	3/1.5 (-1)	1,424 (+4%)	0mo	$270,000	$190	66
508 N 9th Ave	0.49mi	4/1.0	1,284 (-7%)	0mo	$182,500	$142	65
427 N 6th Ave	0.33mi	3/1.5 (-1)	1,274 (-7%)	3mo	$170,000	$133	63
814 N 2nd Ave	0.58mi	4/2.0	1,509 (+10%)	1mo	$208,000	$138	52
311 S 10th Ave	0.53mi	4/1.0	1,188 (-14%)	2mo	$160,000	$135	50
917 N 1st Ave	0.69mi	3/2.0 (-1)	1,300 (-6%)	4mo	$180,000	$138	47
306 S 11th Ave	0.60mi	3/2.0 (-1)	1,252 (-9%)	2mo	$216,000	$173	46
1006 Stewart Ave	0.60mi	3/1.0 (-1)	1,529 (+11%)	5mo	$187,688	$123	44
1111 Pine St	0.57mi	3/1.5 (-1)	1,232 (-10%)	7mo	$215,000	$175	43

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -7.8%
• Equity multiple: 0.70×
• Total profit: $-13,077
• Equity at exit: $23,111

10-year hold

• IRR: 7.3%
• Equity multiple: 1.67×
• Total profit: $29,230
• Equity at exit: $13,402

Cash invested: $43,400 (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 54401

• Home prices YoY: -32.2%
• Rents YoY: 10.2%
• Active inventory: 66
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,452 high
• Mortgage (P&I): −$813
• Tax from tax record: −$201 /mo · $2,416/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$305
• Net cashflow: $68

Break-even live

Break-even rent $1,366

Max offer price $155,000

Occupancy floor 90%

Sensitivity live

Price	-10% $156	-5% $112	+0% $68	+5% $24	+10% $-20
Rent	-10% $-47	-5% $11	+0% $68	+5% $125	+10% $183
Rate	-1.0pp $146	-0.5pp $108	base $68	+0.5pp $28	+1.0pp $-13

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
517 N 2nd Ave Wausau, WI	3.0	1.0	1458	$1,445	$0.99	44d	1	0.32mi
1105 Cedar St Wausau, WI	3.0	1.0	954	$1,550	$1.62	44d	1	0.54mi
637 S 3rd Ave Unit Upper Wausau, WI	3.0	1.0	1000	$1,095	$1.09	44d	1	0.63mi
516 Hamilton St Wausau, WI	3.0	1.0	1166	$1,595	$1.37	44d	1	0.67mi
515 W Union Ave Wausau, WI	3.0	1.0	1556	$1,550	$1.00	44d	1	0.70mi
733 S 6th Ave Wausau, WI	3.0	1.0	1000	$995	$0.99	44d	1	0.80mi
1520 Elm St Wausau, WI	3.0	1.0–2.0	1250	$3,399	$2.72	44d	3	0.80mi
714 Chicago Ave Unit 714 Wausau, WI	3.0	1.0	900	$1,195	$1.33	44d	1	0.94mi
807 Lincoln Ave Wausau, WI	4.0	1.0	1674	$1,500	$0.90	44d	1	1.06mi

Listing history 38 events

1. 2026-06-19
   days on market $155,000 Active 106 DOM
2. 2026-06-18
   days on market $155,000 Active 105 DOM
3. 2026-06-17
   days on market $155,000 Active 104 DOM
4. 2026-06-16
   days on market $155,000 Active 103 DOM
5. 2026-06-15
   days on market $155,000 Active 102 DOM
6. 2026-06-14
   days on market $155,000 Active 100 DOM
7. 2026-06-13
   days on market $155,000 Active 99 DOM
8. 2026-06-10
   days on market $155,000 Active 97 DOM
9. 2026-06-09
   days on market $155,000 Active 96 DOM
10. 2026-06-08
    days on market $155,000 Active 95 DOM
11. 2026-06-07
    days on market $155,000 Active 94 DOM
12. 2026-06-02
    days on market $155,000 Active 89 DOM
13. 2026-06-01
    days on market $155,000 Active 88 DOM
14. 2026-05-31
    days on market $155,000 Active 87 DOM
15. 2026-05-30
    days on market $155,000 Active 86 DOM
16. 2026-04-29
    price $155,000 315-char remark

    Show marketing remark (315 chars)

    This spacious 4-bedroom home offers the perfect footprint for a growing household or a savvy investor. Featuring a versatile layout and generous room sizes, there is plenty of space to live, work, and play. Bring your finishing touches to this solid home and build instant equity in a great neighborhood! Sell as-is

17. 2026-04-19
    price $161,000 315-char remark

    Show marketing remark (315 chars)

    This spacious 4-bedroom home offers the perfect footprint for a growing household or a savvy investor. Featuring a versatile layout and generous room sizes, there is plenty of space to live, work, and play. Bring your finishing touches to this solid home and build instant equity in a great neighborhood! Sell as-is

18. 2026-04-08
    price $165,000 315-char remark

    Show marketing remark (315 chars)

    This spacious 4-bedroom home offers the perfect footprint for a growing household or a savvy investor. Featuring a versatile layout and generous room sizes, there is plenty of space to live, work, and play. Bring your finishing touches to this solid home and build instant equity in a great neighborhood! Sell as-is

19. 2026-03-05
    listed $176,000 Active 315-char remark

    Show marketing remark (315 chars)

    This spacious 4-bedroom home offers the perfect footprint for a growing household or a savvy investor. Featuring a versatile layout and generous room sizes, there is plenty of space to live, work, and play. Bring your finishing touches to this solid home and build instant equity in a great neighborhood! Sell as-is

20. 2024-11-11
    historical $1,500
21. 2024-10-15
    listed $1,500
22. 2024-10-08
    historical $1,900
23. 2024-09-07
    listed $1,900
24. 2024-04-23
    historical $945
25. 2024-04-10
    listed $945
26. 2024-04-10
    historical $945
27. 2024-03-21
    listed $945
28. 2024-03-21
    historical $945
29. 2024-03-19
    listed $945
30. 2023-06-05
    soldstatus $145,000
31. 2015-10-19
    soldstatus $38,000
32. 2015-10-16
    soldstatus $38,000 Sold 396-char remark

    Show marketing remark (396 chars)

    Perfect starter home!! Four bedroom home with newly updated full bath. Spacious, eat-in kitchen with new cabinets and new laminate wood flooring. Kitchen also features large pantry with stove and dishwasher included. Home has updated vinyl siding, new windows and a front covered porch to enjoy. Big, open backyard with one car detached garage and storage area. Wonderful potential in this home!

33. 2015-06-16
    historical Contingent 396-char remark

    Show marketing remark (396 chars)

    Perfect starter home!! Four bedroom home with newly updated full bath. Spacious, eat-in kitchen with new cabinets and new laminate wood flooring. Kitchen also features large pantry with stove and dishwasher included. Home has updated vinyl siding, new windows and a front covered porch to enjoy. Big, open backyard with one car detached garage and storage area. Wonderful potential in this home!

34. 2015-06-13
    price $43,900 396-char remark

    Show marketing remark (396 chars)

    Perfect starter home!! Four bedroom home with newly updated full bath. Spacious, eat-in kitchen with new cabinets and new laminate wood flooring. Kitchen also features large pantry with stove and dishwasher included. Home has updated vinyl siding, new windows and a front covered porch to enjoy. Big, open backyard with one car detached garage and storage area. Wonderful potential in this home!

35. 2014-12-18
    price $46,900 396-char remark

    Show marketing remark (396 chars)

    Perfect starter home!! Four bedroom home with newly updated full bath. Spacious, eat-in kitchen with new cabinets and new laminate wood flooring. Kitchen also features large pantry with stove and dishwasher included. Home has updated vinyl siding, new windows and a front covered porch to enjoy. Big, open backyard with one car detached garage and storage area. Wonderful potential in this home!

36. 2014-09-04
    listed $49,900 Active 396-char remark

    Show marketing remark (396 chars)

    Perfect starter home!! Four bedroom home with newly updated full bath. Spacious, eat-in kitchen with new cabinets and new laminate wood flooring. Kitchen also features large pantry with stove and dishwasher included. Home has updated vinyl siding, new windows and a front covered porch to enjoy. Big, open backyard with one car detached garage and storage area. Wonderful potential in this home!

37. 2006-11-01
    soldstatus $34,000
38. 2002-02-01
    soldstatus $25,000

ⓘ 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: $2,416 · $201/mo
• Projected year-2 tax: $2,642 · $220/mo
• Expected delta: +$226/yr (+$19/mo · 9.3%)

ⓘ 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 1/10 Low
• 🌡 Heat 2/10 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: $17,422
• − Mortgage interest: −$8,682
• − Property taxes: −$2,416
• − Insurance: −$775
• − Repairs & maintenance: −$1,394
• − Management: −$1,394
• − Depreciation: −$4,509
• Taxable loss: −$1,749
• Est. tax savings @ 24.0%: +$420
• After-tax cash flow: $1,237/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: Wausau School District
• NCES district ID: 5515900
• Math proficiency: 33% ▼ -9.00%
• Reading proficiency: 36% ▼ -7.00%
• Median HH income: $47,238
• Composite: 29.66/100
• National rank: #6466
• State rank: #235 of 342 in WI

Livability — Wausau

• Score: 91/100
• State rank: #4
• US rank: #55

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wausau, WI
• County: Marathon County · 76,019 people
• City population: 56,642
• Metro: Wausau-Weston, WI
• Population (ZIP): 31,692
• Household income: $71,586
• Rent vs Own: 33.0% rent · 67.0% own
• Severe rent burden: 665.0

Population outlook (Marathon County) Hauer SSP2

• Today (2025): 138,030 people
• By 2030: 138,087 · +0.0%
• By 2040: 135,688 · -1.7%
• By 2050: 129,390 · -6.3%
• By 2075: 110,912 · -19.6%
• By 2100: 85,136 · -38.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Asian 12% Two or more races 5% Hispanic / Latino 5%
• Common ancestry: Romanian 12% Lithuanian 4% Portuguese 4%
• Foreign-born: 7% · Canada
• Languages at home: 86% English-only · Other Asian/Pacific 9% Spanish 3% Other Indo-European 1%

Political lean MEDSL · Marathon

• 2024 margin: R (+18.7) · D 40.1% · R 58.7% · Other 1.2%
• 2008→2024 swing: -27.5pp toward R · 2008: 8.9pp · 2024: -18.7pp
• All cycles: 2024: R+18.7 2020: R+18.0 2016: R+18.2 2012: R+6.1 2008: D+8.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -99.85%
• Current HPI: 210.5242
• Rent YoY: ▲ 10.15%
• Metro: Wausau-Weston, WI
• 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

+520.0% since first listed

23 events — show timeline

• 2026-04-29 Price Changed $155,000 SCWMLS
• 2026-04-19 Price Changed $161,000 SCWMLS
• 2026-04-08 Price Changed $165,000 SCWMLS
• 2026-03-05 Listed $176,000 SCWMLS
• 2024-11-11 Rental Removed $1,500 TURBOTENANT
• 2024-10-15 Listed for Rent $1,500 TURBOTENANT
• 2024-10-08 Rental Removed $1,900 TURBOTENANT
• 2024-09-07 Listed for Rent $1,900 TURBOTENANT
• 2024-04-23 Rental Removed $945 TURBOTENANT
• 2024-04-10 Listed for Rent $945 TURBOTENANT
• 2024-04-10 Rental Removed $945 APPFOLIO
• 2024-03-21 Listed for Rent $945 APPFOLIO
• 2024-03-21 Rental Removed $945 TURBOTENANT
• 2024-03-19 Listed for Rent $945 TURBOTENANT
• 2023-06-05 Sold (Public Records) $145,000 Public Records
• 2015-10-19 Sold (Public Records) $38,000 Public Records
• 2015-10-16 Sold (MLS) $38,000 CWMLS
• 2015-06-16 Contingent — CWMLS
• 2015-06-13 Price Changed $43,900 CWMLS
• 2014-12-18 Price Changed $46,900 CWMLS
• 2014-09-04 Listed $49,900 CWMLS
• 2006-11-01 Sold (Public Records) $34,000 Public Records
• 2002-02-01 Sold (Public Records) $25,000 Public Records

Property tax history

+5.3%/yr

Latest (2025): $2,416 · -0.7% YoY. Source: county tax records.