2905 Farnam St

La Crosse, WI 54601

$399,900

3 bd · 3 ba · 2,986 sqft · Listed 1d ago

View on Realtor.com →

Low confidence

Year built

1974

Sqft

2,986

Lot sqft

10,019

HOA / mo

None

Furnished

List date

2026-09-30T17:55:30.000000Z

Revenue

Annual revenue

$49,989

ADR

$233

Occupancy

59%

Cleaning fees (12 mo)

$6,918

Confidence

Med (60.97), 7 comps

Comp revenue range (p25 / median / p75)

$34,494$41,930$61,767

The Bluff View Collective Main House + Studio
House · 4 bd · 2.5 ba · sleeps 8 · 0.2 mi
Revenue $26,322ADR $472Occ ≈ 15%5★ (1)
Airbnb
Stone's Throw Cottage
Cottage · 2 bd · 1 ba · sleeps 5 · 0.2 mi
Revenue $31,950ADR $125Occ ≈ 70%5★ (182)
Airbnb Vrbo
Cheerful home with driveway and backyard!
House · 3 bd · 1.5 ba · sleeps 6 · 0.3 mi
Revenue $37,038ADR $226Occ ≈ 45%4.9★ (120)
Airbnb Vrbo
Bright 4BR Retreat | UW-La Crosse
House · 4 bd · 2 ba · sleeps 10 · 0.4 mi
Revenue $59,726ADR $252Occ ≈ 65%4.8★ (87)
Airbnb Vrbo
Cozy Cottage on the Corner
House · 3 bd · 2 ba · sleeps 7 · 0.5 mi
Revenue $63,808ADR $227Occ ≈ 77%5★ (16)
Airbnb
NEST - Cozy, Stylish, & Relaxing & Newly updated!
House · 3 bd · 1.5 ba · sleeps 6 · 0.5 mi
Revenue $41,930ADR $224Occ ≈ 51%5★ (56)
Airbnb Vrbo
Designer Family Fun home, Arcade, secret nook!
House · 3 bd · 3.5 ba · sleeps 10 · 0.7 mi
Revenue $77,348ADR $411Occ ≈ 52%4.9★ (171)
Airbnb

Listing	Size	Revenue (12 mo)	ADR	Occ ≈	Rating	Distance	Links
The Bluff View Collective Main House + Studio House	4 bd · 2.5 ba · sleeps 8	$26,322	$472	15%	5★ (1)	0.2 mi	Airbnb
Stone's Throw Cottage Cottage	2 bd · 1 ba · sleeps 5	$31,950	$125	70%	5★ (182)	0.2 mi	Airbnb Vrbo
Cheerful home with driveway and backyard! House	3 bd · 1.5 ba · sleeps 6	$37,038	$226	45%	4.9★ (120)	0.3 mi	Airbnb Vrbo
Bright 4BR Retreat \| UW-La Crosse House	4 bd · 2 ba · sleeps 10	$59,726	$252	65%	4.8★ (87)	0.4 mi	Airbnb Vrbo
Cozy Cottage on the Corner House	3 bd · 2 ba · sleeps 7	$63,808	$227	77%	5★ (16)	0.5 mi	Airbnb
NEST - Cozy, Stylish, & Relaxing & Newly updated! House	3 bd · 1.5 ba · sleeps 6	$41,930	$224	51%	5★ (56)	0.5 mi	Airbnb Vrbo
Designer Family Fun home, Arcade, secret nook! House	3 bd · 3.5 ba · sleeps 10	$77,348	$411	52%	4.9★ (171)	0.7 mi	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

Purchase priceAlready furnishedTax bracketCount tax savings in returnsOnly if you can use the losses (STR loophole)

Est. revenue

$49,989

NOI

$23,801

Cash flow /mo

$1,983

Cash needed

$441,396

Cash-on-cash (all cash)

5.4%

ROE (yr 1)

8.1%

Cap rate

6.0%

DSCR

—

Year-1 write-off

$106,525

Year-1 tax shield @ 32%

$34,088

Year-1 return on equity

Cash flow (annual)$23,801
Principal paydown (n/a, cash)$0
Appreciation at%$11,997

ROE8.1%

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)$9,998
Platform fees (3% of revenue)$1,500
Maintenance / capex (5% of revenue)$2,499
Utilities & supplies$4,200
HOA$0
Property tax$6,012
Insurance (STR-rated)$1,980

Cash needed to close

Purchase price (all cash)$399,900
Closing costs (4.0%)$15,996
Furnishing (bought new)$25,500

Tax savings if the STR loophole applies

Tax shield @ 32%$34,088

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

$345,000

Short-life (5/15-yr)

$80,000 · 23%

Year-1 deduction

$107,000

Year-1 tax shield @ 32%

$34,000

Land 14% (county tax record, assessed value split) · building $265,000 over 39 years · new furniture $26,000

Based on: 2,986 sq ft, built 1974, 3 bd / 3 ba, unfurnished, listing features (deck, game room, fireplace, stone counters, flooring types, appliance list).

Try the cost segregation calculator on any property →

IRS-guide safe-harbor floor: $63,000 in year 1 (11% short-life, $20,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.

5-year property$62,300

Kitchen cabinetsdefault
$12,300 new × 40% good × 1.47 allocation
$7,300
Kitchen countertops (stone)listing
$12,600 new × 40% good × 1.47 allocation
$7,400
Decorative trimdefault
$5,200 new × 40% good × 1.47 allocation
$3,100
Mirrorsdefault
$500 new × 40% good × 1.47 allocation
$300
Shelvingdefault
$1,200 new × 40% good × 1.47 allocation
$700
Window coverings (30)default
$7,500 new × 40% good × 1.47 allocation
$4,400
Kitchen & laundry equipment plumbingdefault
$9,600 new × 40% good × 1.47 allocation
$5,700
Kitchen, laundry & data equipment electricaldefault
$5,800 new × 40% good × 1.47 allocation
$3,400
Appliances (range, microwave, dishwasher, refrigerator, washer, dryer)listing
$7,700 new × 40% good × 1.47 allocation
$4,500
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$43,300

Paving: driveway & walks (paved)default
$11,300 new × 50% good × 1.47 allocation
$8,400
Landscaping (typical)default
$10,900 new × 50% good × 1.47 allocation
$8,000
Patiosdefault
$2,900 new × 50% good × 1.47 allocation
$2,200
Decks & porches (attached)listing
$33,600 new × 50% good × 1.47 allocation
$24,800

Building, 39-year$264,800

Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault
$324,600 new × 40% good × 1.47 allocation
$191,500
Building plumbing & fixturesdefault
$33,700 new × 40% good × 1.47 allocation
$19,900
Building electrical & lightingdefault
$35,100 new × 40% good × 1.47 allocation
$20,700
HVACdefault
$33,600 new × 40% good × 1.47 allocation
$19,800
Hardwood & tile floorsdefault
$19,200 new × 40% good × 1.47 allocation
$11,300
Fireplacelisting
$2,600 new × 40% good × 1.47 allocation
$1,600

About the property

Sold furnishedGame roomHot tubPoolDeckDrivewayLandscapingFencedIrrigationLong-term rental (27.5-yr)Carpet / vinyl / laminate %Placed in serviceClosing costs $ (adds to basis)Land %Bonus depreciation %

Depreciation schedule: typical cost seg study

Year	5-yr	15-yr	Building	Total
1	$62,300	$43,300	$800	$106,500
2	$0	$0	$6,800	$6,800
3	$0	$0	$6,800	$6,800
4	$0	$0	$6,800	$6,800
5	$0	$0	$6,800	$6,800
6+	$0	$0	$236,800	$236,800
Total	$62,300	$43,300	$264,800	$370,500

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.