462 21st St S
La Crosse, WI 54601
$189,900
2 bd · 1 ba · 1,056 sqft · Listed 2d ago
View on Realtor.com →Year built
1937
Sqft
1,056
Lot sqft
5,227
HOA / mo
None
Furnished
No
List date
2026-10-15T15:07:00.000000Z
Revenue
Annual revenue
$24,968
ADR
$103
Occupancy
66%
Cleaning fees (12 mo)
$2,206
Confidence
Low (42.09), 11 comps
Comp revenue range (p25 / median / p75)
Median revenue of shown comps: $22,648
Beautiful Victorian
Apartment · 2 bd · 1 ba · sleeps 4 · 0.2 mi
Revenue $7,174ADR $239Occ ≈ 8%—
Delisted
Marigold
House · 2 bd · 2 ba · sleeps 4 · 0.2 mi
Revenue $28,024ADR $177Occ ≈ 43%5★ (32)
Delisted
The Beverly Rose
Guest suite · 2 bd · 1 ba · sleeps 4 · 0.3 mi
- A/C
- Free parking
- Wifi
- Kitchen
Revenue $20,798ADR $100Occ ≈ 57%5★ (166)
Beautiful Home Perfect Location
House · 2 bd · 2 ba · sleeps 4 · 0.4 mi
Revenue $1,246ADR $221Occ ≈ 2%—
Home Sweet Suite Home
House · 2 bd · 1 ba · sleeps 5 · 0.5 mi
- A/C
- Free parking
- Wifi
- Kitchen
- +2
Revenue $18,897ADR $60Occ ≈ 86%4.8★ (233)
The Sheldon
House · 2 bd · 1 ba · sleeps 6 · 0.5 mi
- A/C
- Free parking
- Pets OK
- Wifi
- +3
Revenue $19,546ADR $116Occ ≈ 46%4.8★ (35)
| Listing | Size | Revenue (12 mo) | ADR | Occ ≈ | Rating | Distance | Links |
|---|---|---|---|---|---|---|---|
Beautiful Victorian Apartment | 2 bd · 1 ba · sleeps 4 | $7,174 | $239 | 8% | — | 0.2 mi | Delisted |
Bluff View Victorian - Free Bikes included Apartment
| 2 bd · 1 ba · sleeps 6 | $35,558 | $167 | 58% | 5★ (206) | 0.2 mi | AirbnbVrbo |
Charmer on 19th and Cameron Apartment
| 2 bd · 1 ba · sleeps 4 | $24,498 | $97 | 69% | 4.9★ (227) | 0.2 mi | AirbnbVrbo |
Marigold House | 2 bd · 2 ba · sleeps 4 | $28,024 | $177 | 43% | 5★ (32) | 0.2 mi | Delisted |
Pipe & Flynn's House
| 2 bd · 2 ba · sleeps 4 | $42,512 | $174 | 67% | 5★ (81) | 0.3 mi | AirbnbVrbo |
The Beverly Rose Guest suite
| 2 bd · 1 ba · sleeps 4 | $20,798 | $100 | 57% | 5★ (166) | 0.3 mi | Airbnb |
Beautiful Home Perfect Location House | 2 bd · 2 ba · sleeps 4 | $1,246 | $221 | 2% | — | 0.4 mi | Booking |
Home Sweet Suite Home House
| 2 bd · 1 ba · sleeps 5 | $18,897 | $60 | 86% | 4.8★ (233) | 0.5 mi | Airbnb |
The Sheldon House
| 2 bd · 1 ba · sleeps 6 | $19,546 | $116 | 46% | 4.8★ (35) | 0.5 mi | Airbnb |
Bluffside Rambler House
| 2 bd · 1 ba · sleeps 4 | $27,169 | $186 | 40% | 4.9★ (115) | 0.6 mi | AirbnbVrbo |
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
Rate 8.15% = 7.40% Freddie Mac 30-yr avg (Oct 15) + 0.75% investor premium
Est. revenue
$24,968
NOI
$9,213
Cash flow /mo
-$292
Cash needed
$71,071
Cash-on-cash
-4.9%
ROE (yr 1)
4.7%
Cap rate
4.9%
DSCR
0.72
Year-1 write-off
$56,629
Year-1 tax shield @ 32%
$18,121
Year-1 return on equity
- Cash flow (annual)-$3,507
- Principal paydown$1,155
- Appreciation at%$5,697
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)$4,994
- Platform fees (3% of revenue)$749
- Maintenance / capex (5% of revenue)$1,248
- Utilities & supplies$4,200
- HOA$0
- Property tax$3,624
- Insurance (STR-rated)$940
Cash needed to close
- Down payment (25%)$47,475
- Closing costs (4.0%)$7,596
- Furnishing (bought new)$16,000
Tax savings if the STR loophole applies
- Tax shield @ 32%$18,121
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
$149,000
Short-life (5/15-yr)
$41,000 · 27%
Year-1 deduction
$57,000
Year-1 tax shield @ 32%
$18,000
Land 22% (county tax record, assessed value split) · building $108,000 over 39 years · new furniture $16,000
Based on: 1,056 sq ft, built 1937, 2 bd / 1 ba, unfurnished, listing features (patio, flooring types, appliance list).
Try the cost segregation calculator on any property →
IRS-guide safe-harbor floor: $43,000 in year 1 (18% short-life, $14,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.
- $5,600
Kitchen cabinetsdefault
$8,100 new × 40% good × 1.74 allocation
- $4,600
Kitchen countertopsdefault
$6,600 new × 40% good × 1.74 allocation
- $1,300
Decorative trimdefault
$1,800 new × 40% good × 1.74 allocation
- $100
Mirrorsdefault
$200 new × 40% good × 1.74 allocation
- $600
Shelvingdefault
$900 new × 40% good × 1.74 allocation
- $1,900
Window coverings (11)default
$2,800 new × 40% good × 1.74 allocation
- $4,400
Kitchen & laundry equipment plumbingdefault
$6,300 new × 40% good × 1.74 allocation
- $2,700
Kitchen, laundry & data equipment electricaldefault
$3,800 new × 40% good × 1.74 allocation
- $2,800
Appliances (range, refrigerator)listing
$4,000 new × 40% good × 1.74 allocation
- $16,000
Furniture bought newlisting
$16,000 new × 100% good · bought separately
- $5,900
Paving: driveway & walks (paved)default
$6,700 new × 50% good × 1.74 allocation
- $5,600
Landscaping (typical)default
$6,500 new × 50% good × 1.74 allocation
- $4,100
Patioslisting
$4,800 new × 50% good × 1.74 allocation
- $900
Decks & porches (attached)default
$1,000 new × 50% good × 1.74 allocation
- $79,500
Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault
$114,300 new × 40% good × 1.74 allocation
- $8,200
Building plumbing & fixturesdefault
$11,800 new × 40% good × 1.74 allocation
- $7,400
Building electrical & lightingdefault
$10,700 new × 40% good × 1.74 allocation
- $8,300
HVACdefault
$11,900 new × 40% good × 1.74 allocation
- $4,700
Hardwood & tile floorsdefault
$6,800 new × 40% good × 1.74 allocation
About the property
Depreciation schedule: typical cost seg study
| Year | 5-yr | 15-yr | Building | Total |
|---|---|---|---|---|
| 1 | $40,000 | $16,500 | $100 | $56,600 |
| 2 | $0 | $0 | $2,800 | $2,800 |
| 3 | $0 | $0 | $2,800 | $2,800 |
| 4 | $0 | $0 | $2,800 | $2,800 |
| 5 | $0 | $0 | $2,800 | $2,800 |
| 6+ | $0 | $0 | $96,900 | $96,900 |
| Total | $40,000 | $16,500 | $108,100 | $164,600 |
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.