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Rate 8.15% = 7.40% Freddie Mac 30-yr avg (Oct 15) + 0.75% investor premium

2148 Mississippi St

2148 Mississippi St

La Crosse, WI 54601

$250,000

3 bd · 1 ba · 1,148 sqft · Listed 1d ago

View on Realtor.com →
Low confidence

Year built

1954

Sqft

1,148

Lot sqft

10,019

HOA / mo

None

Furnished

No

List date

2026-10-21T19:12:34.000000Z

Revenue

Annual revenue

$41,431

ADR

$223

Occupancy

51%

Cleaning fees (12 mo)

$4,998

Confidence

Med (69.08), 6 comps

Comp revenue range (p25 / median / p75)

$35,169$40,188$46,126

Median revenue of shown comps: $40,188

  • NEST - Cozy, Stylish, & Relaxing & Newly updated!

    House · 3 bd · 1.5 ba · sleeps 6 · 0.3 mi

    • A/C
    • Free parking
    • Pets OK
    • Wifi
    • +2

    Revenue $40,465ADR $222Occ ≈ 50%5★ (59)

    AirbnbVrbo

  • Downtown Boho Home w/Office, Yoga Studio,King Bed

    House · 3 bd · 2 ba · sleeps 8 · 0.3 mi

    • A/C
    • Free parking
    • Pets OK
    • Wifi
    • +3

    Revenue $48,013ADR $258Occ ≈ 51%4.8★ (28)

    AirbnbVrboBooking

  • Charming Bungalow centrally located - cute porch!

    House · 3 bd · 1.5 ba · sleeps 6 · 0.4 mi

    • A/C
    • Free parking
    • Pets OK
    • Wifi
    • +2

    Revenue $33,588ADR $278Occ ≈ 33%4.9★ (122)

    Airbnb

  • Close House Craftsman Bungalow(3BR/4BEDS/2FBATH)

    Bungalow · 3 bd · 2 ba · sleeps 6 · 0.4 mi

    • A/C
    • Free parking
    • Wifi
    • Kitchen
    • +1

    Revenue $39,911ADR $232Occ ≈ 47%5★ (51)

    Airbnb

  • Cozy Victorian Hideaway

    Townhouse · 3 bd · 1.5 ba · sleeps 6 · 0.6 mi

    • A/C
    • Free parking
    • Wifi
    • Kitchen
    • +2

    Revenue $25,415ADR $169Occ ≈ 41%4.8★ (180)

    Airbnb

  • Charming Southside Home

    House · 3 bd · 2 ba · sleeps 8 · 0.6 mi

    • A/C
    • Free parking
    • Pets OK
    • Wifi
    • +2

    Revenue $63,085ADR $286Occ ≈ 60%5★ (47)

    Airbnb

Revenue and nightly rate (ADR) are trailing-12-month figures per listing. Occupancy is estimated as revenue ÷ ADR ÷ 365 and can read high when revenue includes cleaning fees.

Cash flow calculator

Financing
Management
Term

Rate 8.15% = 7.40% Freddie Mac 30-yr avg (Oct 15) + 0.75% investor premium

Est. revenue

$41,431

NOI

$20,342

Cash flow /mo

$300

Cash needed

$98,000

Cash-on-cash

3.7%

ROE (yr 1)

12.9%

Cap rate

8.1%

DSCR

1.21

Year-1 write-off

$85,252

Year-1 tax shield @ 32%

$27,281

Year-1 return on equity

  • Cash flow (annual)$3,596
  • Principal paydown$1,520
  • Appreciation at%$7,500
ROE12.9%

Tax savings aren't counted. Turn on “Count tax savings in returns” above if you can use the losses.

Opex, cash-needed & tax-savings breakdown

Annual operating expenses

  • Management (20% of revenue)$8,286
  • Platform fees (3% of revenue)$1,243
  • Maintenance / capex (5% of revenue)$2,072
  • Utilities & supplies$4,200
  • HOA$0
  • Property tax$4,051
  • Insurance (STR-rated)$1,238

Cash needed to close

  • Down payment (25%)$62,500
  • Closing costs (4.0%)$10,000
  • Furnishing (bought new)$25,500

Tax savings if the STR loophole applies

  • Tax shield @ 32%$27,281

Property tax, insurance rate and the land/building split come from this listing's county tax record; other assumptions match the daily feed (see tasks/plan.md).

The write-off comes from the cost segregation estimate below. Not tax advice.

Cost segregation estimate

An estimate from the listing: every part of the home is priced from national construction costs, less wear for age, and the price (less land) is spread over the parts in proportion. The headline is what a typical cost seg study would claim for this property. The answers below are optional refinements.

Depreciable basis

$187,000

Short-life (5/15-yr)

$60,000 · 32%

Year-1 deduction

$85,000

Year-1 tax shield @ 32%

$27,000

Land 25% (county tax record, assessed value split) · building $127,000 over 39 years · new furniture $26,000

Based on: 1,148 sq ft, built 1954, 3 bd / 1 ba, unfurnished, listing features (covered patio, fence, game room, flooring types, appliance list).

Try the cost segregation calculator on any property →

IRS-guide safe-harbor floor: $70,000 in year 1 (24% short-life, $23,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.

5-year property$53,300

  • Kitchen cabinetsdefault

    $8,300 new × 40% good × 1.88 allocation

    $6,200

  • Kitchen countertopsdefault

    $6,800 new × 40% good × 1.88 allocation

    $5,100

  • Decorative trimdefault

    $2,000 new × 40% good × 1.88 allocation

    $1,500

  • Mirrorsdefault

    $200 new × 40% good × 1.88 allocation

    $100

  • Shelvingdefault

    $1,200 new × 40% good × 1.88 allocation

    $900

  • Window coverings (11)default

    $2,800 new × 40% good × 1.88 allocation

    $2,100

  • Kitchen & laundry equipment plumbingdefault

    $6,500 new × 40% good × 1.88 allocation

    $4,900

  • Kitchen, laundry & data equipment electricaldefault

    $3,900 new × 40% good × 1.88 allocation

    $2,900

  • Appliances (range, dishwasher, disposal, refrigerator)listing

    $5,400 new × 40% good × 1.88 allocation

    $4,100

  • Furniture bought newlisting

    $19,500 new × 100% good · bought separately

    $19,500

  • Game-room equipment bought newlisting

    $6,000 new × 100% good · bought separately

    $6,000
15-year land improvements$31,800

  • Paving: driveway & walks (paved)default

    $7,000 new × 50% good × 1.88 allocation

    $6,600

  • Landscaping (typical)default

    $6,800 new × 50% good × 1.88 allocation

    $6,300

  • Covered patiolisting

    $9,500 new × 50% good × 1.88 allocation

    $8,900

  • Irrigationlisting

    $3,500 new × 50% good × 1.88 allocation

    $3,300

  • Decks & porches (attached)default

    $1,100 new × 50% good × 1.88 allocation

    $1,100

  • Fencinglisting

    $6,000 new × 50% good × 1.88 allocation

    $5,600
Building, 39-year$127,000

  • Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault

    $124,100 new × 40% good × 1.88 allocation

    $93,200

  • Building plumbing & fixturesdefault

    $12,900 new × 40% good × 1.88 allocation

    $9,700

  • Building electrical & lightingdefault

    $11,800 new × 40% good × 1.88 allocation

    $8,900

  • HVACdefault

    $12,900 new × 40% good × 1.88 allocation

    $9,700

  • Hardwood & tile floorsdefault

    $7,400 new × 40% good × 1.88 allocation

    $5,500

About the property

Depreciation schedule: typical cost seg study

Year5-yr15-yrBuildingTotal
1$53,300$31,800$100$85,300
2$0$0$3,300$3,300
3$0$0$3,300$3,300
4$0$0$3,300$3,300
5$0$0$3,300$3,300
6+$0$0$113,800$113,800
Total$53,300$31,800$127,000$212,100

Model-based estimate, not an engineered cost segregation study. The IRS doesn’t approve studies; get a professional study before filing. Using these losses against W-2 income needs the short-term rental exception (average stay ≤7 days + material participation). The 39-year building life applies because stays average under 30 days, a separate test (27.5 years for a long-term rental). Federal only: California, Georgia and Wisconsin disallow bonus depreciation, Ohio adds back 5/6 of it, and Tennessee has no personal income tax. Not tax advice.

Market note

Rules differ by jurisdiction. The City of La Crosse requires a short-term rental license ($100 a year) once you rent more than 10 nights a year, plus a Wisconsin tourist rooming house license and inspection from the La Crosse County Health Department. We found no owner-occupancy rule or night cap in the city, but the license does NOT transfer to a new owner. Onalaska allows rentals with a city permit in some zoning districts, and unincorporated towns follow La Crosse County zoning, which has its own permit and day limits. Wisconsin law lets local governments restrict stays under 7 nights. Verify parcel eligibility with the city or county before you buy.