736 23rd St N
La Crosse, WI 54601
$184,900
2 bd · 1 ba · 600 sqft · Listed 30d ago
View on Realtor.com →Year built
1937
Sqft
600
Lot sqft
5,227
HOA / mo
None
Furnished
No
List date
2026-09-01T16:12:07.000000Z
Revenue
Annual revenue
$19,360
ADR
$62
Occupancy
86%
Cleaning fees (12 mo)
$1,257
Confidence
Med (60.31), 7 comps
Comp revenue range (p25 / median / p75)
Historic Bluff View House-centrally located--ideal for extended stays
House · 2 bd · 1 ba · sleeps 7 · 0.3 mi
Revenue $16,011ADR $166Occ ≈ 26%—
Bluffside Lodge -Steps away from trailheads & Food
House · 2 bd · 1 ba · sleeps 6 · 0.5 mi
Revenue $31,888ADR $145Occ ≈ 60%5★ (172)
Home Sweet Suite Home
House · 2 bd · 1 ba · sleeps 5 · 0.6 mi
Revenue $19,314ADR $59Occ ≈ 90%4.8★ (228)
European Hospitality. Norwegian Design.
House · 2 bd · 1.5 ba · sleeps 2 · 0.7 mi
Revenue $9,033ADR $37Occ ≈ 67%4.8★ (119)
| Listing | Size | Revenue (12 mo) | ADR | Occ ≈ | Rating | Distance | Links |
|---|---|---|---|---|---|---|---|
Bluff View House House | 2 bd · 1 ba · sleeps 7 | $14,442 | $0 | — | 4.8★ (140) | 525 ft | Airbnb |
Historic Bluff View House-centrally located--ideal for extended stays House | 2 bd · 1 ba · sleeps 7 | $16,011 | $166 | 26% | — | 0.3 mi | Vrbo |
Bluffside Lodge -Steps away from trailheads & Food House | 2 bd · 1 ba · sleeps 6 | $31,888 | $145 | 60% | 5★ (172) | 0.5 mi | Airbnb |
The Sheldon House | 2 bd · 1 ba · sleeps 6 | $16,422 | $114 | 39% | 4.8★ (28) | 0.5 mi | Airbnb |
Home Sweet Suite Home House | 2 bd · 1 ba · sleeps 5 | $19,314 | $59 | 90% | 4.8★ (228) | 0.6 mi | Airbnb |
Bluffside Rambler House | 2 bd · 1 ba · sleeps 4 | $24,837 | $175 | 39% | 4.9★ (113) | 0.6 mi | AirbnbVrbo |
European Hospitality. Norwegian Design. House | 2 bd · 1.5 ba · sleeps 2 | $9,033 | $37 | 67% | 4.8★ (119) | 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
Rate 7.78% = 7.03% Freddie Mac 30-yr avg (Sep 24) + 0.75% investor premium
Est. revenue
$19,360
NOI
$6,815
Cash flow /mo
-$428
Cash needed
$69,621
Cash-on-cash
-7.4%
ROE (yr 1)
2.3%
Cap rate
3.7%
DSCR
0.57
Year-1 write-off
$54,303
Year-1 tax shield @ 32%
$17,377
Year-1 return on equity
- Cash flow (annual)-$5,141
- Principal paydown$1,210
- Appreciation at%$5,547
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)$3,872
- Platform fees (3% of revenue)$581
- Maintenance / capex (5% of revenue)$968
- Utilities & supplies$4,200
- HOA$0
- Property tax$2,009
- Insurance (STR-rated)$915
Cash needed to close
- Down payment (25%)$46,225
- Closing costs (4.0%)$7,396
- Furnishing (bought new)$16,000
Tax savings if the STR loophole applies
- Tax shield @ 32%$17,377
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
$106,000
Short-life (5/15-yr)
$38,000 · 36%
Year-1 deduction
$54,000
Year-1 tax shield @ 32%
$17,000
Land 43% (county tax record, assessed value split) · building $68,000 over 39 years · new furniture $16,000
Based on: 600 sq ft, built 1937, 2 bd / 1 ba, unfurnished, listing features (patio, appliance list).
Try the cost segregation calculator on any property →
IRS-guide safe-harbor floor: $42,000 in year 1 (24% short-life, $13,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.
- $5,700
Kitchen cabinetsdefault
$7,100 new × 40% good × 2.00 allocation
- $4,700
Kitchen countertopsdefault
$5,800 new × 40% good × 2.00 allocation
- $800
Decorative trimdefault
$1,100 new × 40% good × 2.00 allocation
- $100
Mirrorsdefault
$200 new × 40% good × 2.00 allocation
- $700
Shelvingdefault
$900 new × 40% good × 2.00 allocation
- $1,200
Window coverings (6)default
$1,500 new × 40% good × 2.00 allocation
- $1,200
Carpet, vinyl & laminate (40% of floors)default
$1,500 new × 40% good × 2.00 allocation
- $4,400
Kitchen & laundry equipment plumbingdefault
$5,500 new × 40% good × 2.00 allocation
- $2,700
Kitchen, laundry & data equipment electricaldefault
$3,300 new × 40% good × 2.00 allocation
- $3,200
Appliances (range, refrigerator)listing
$4,000 new × 40% good × 2.00 allocation
- $16,000
Furniture bought newlisting
$16,000 new × 100% good · bought separately
- $5,100
Paving: driveway & walks (paved)default
$5,100 new × 50% good × 2.00 allocation
- $4,900
Landscaping (typical)default
$4,900 new × 50% good × 2.00 allocation
- $2,700
Patioslisting
$2,700 new × 50% good × 2.00 allocation
- $600
Decks & porches (attached)default
$600 new × 50% good × 2.00 allocation
- $51,700
Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault
$64,500 new × 40% good × 2.00 allocation
- $5,300
Building plumbing & fixturesdefault
$6,700 new × 40% good × 2.00 allocation
- $3,900
Building electrical & lightingdefault
$4,900 new × 40% good × 2.00 allocation
- $5,400
HVACdefault
$6,800 new × 40% good × 2.00 allocation
- $1,900
Hardwood & tile floorsdefault
$2,300 new × 40% good × 2.00 allocation
About the property
Depreciation schedule: typical cost seg study
| Year | 5-yr | 15-yr | Building | Total |
|---|---|---|---|---|
| 1 | $40,800 | $13,300 | $200 | $54,300 |
| 2 | $0 | $0 | $1,700 | $1,700 |
| 3 | $0 | $0 | $1,700 | $1,700 |
| 4 | $0 | $0 | $1,700 | $1,700 |
| 5 | $0 | $0 | $1,700 | $1,700 |
| 6+ | $0 | $0 | $61,000 | $61,000 |
| Total | $40,800 | $13,300 | $68,200 | $122,300 |
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.