Rate 7.78% = 7.03% Freddie Mac 30-yr avg (Sep 24) + 0.75% investor premium

112 Wall St W

Holmen, WI 54636

$249,900

2 bd · 1 ba · 1,196 sqft · Listed 2d ago

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Low confidenceNegative cash flow

Year built

1900

Sqft

1,196

Lot sqft

21,780

HOA / mo

None

Furnished

List date

2026-09-29T23:23:32.000000Z

Revenue

Annual revenue

$26,021

ADR

$123

Occupancy

58%

Cleaning fees (12 mo)

$1,174

Confidence

Med (59.1), 7 comps

Comp revenue range (p25 / median / p75)

$20,523$28,870$32,520

Emma’s Cozy Cottage
Cottage · 2 bd · 1 ba · sleeps 2 · 2.5 mi
Revenue $29,198ADR $160Occ ≈ 50%4.8★ (238)
Airbnb
"Escape to the Northwoods of Onalaska!" 8
Apartment · 2 bd · 1 ba · sleeps 4 · 3.0 mi
Revenue $12,658ADR $190Occ ≈ 18%4.7★ (22)
Airbnb
Lake Onalaska Cabin surrounded by Wildlife Refuge
Cottage · 2 bd · 1 ba · sleeps 4 · 3.1 mi
Revenue $28,870ADR $128Occ ≈ 62%4.8★ (370)
Airbnb
Cozy Corner Cottages Cabin Rental
Cabin · 2 bd · 1 ba · sleeps 6 · 3.1 mi
Revenue $10,018ADR $115Occ ≈ 24%4.7★ (147)
Airbnb Vrbo
Little House on the Prairie
House · 2 bd · 1 ba · sleeps 5 · 3.1 mi
Revenue $35,841ADR $162Occ ≈ 61%5★ (331)
Airbnb Vrbo
Red Pines 2 BR VIP "Sweet" with Lake View
Apartment · 2 bd · 1 ba · sleeps 4 · 3.1 mi
Revenue $28,387ADR $229Occ ≈ 34%5★ (41)
Airbnb
Northshore Cottage (2 bedrooms) on Lake Onalaska
Cottage · 2 bd · 1 ba · sleeps 4 · 3.2 mi
Revenue $37,199ADR $111Occ ≈ 92%4.9★ (415)
Airbnb

Listing	Size	Revenue (12 mo)	ADR	Occ ≈	Rating	Distance	Links
Emma’s Cozy Cottage Cottage	2 bd · 1 ba · sleeps 2	$29,198	$160	50%	4.8★ (238)	2.5 mi	Airbnb
"Escape to the Northwoods of Onalaska!" 8 Apartment	2 bd · 1 ba · sleeps 4	$12,658	$190	18%	4.7★ (22)	3.0 mi	Airbnb
Lake Onalaska Cabin surrounded by Wildlife Refuge Cottage	2 bd · 1 ba · sleeps 4	$28,870	$128	62%	4.8★ (370)	3.1 mi	Airbnb
Cozy Corner Cottages Cabin Rental Cabin	2 bd · 1 ba · sleeps 6	$10,018	$115	24%	4.7★ (147)	3.1 mi	Airbnb Vrbo
Little House on the Prairie House	2 bd · 1 ba · sleeps 5	$35,841	$162	61%	5★ (331)	3.1 mi	Airbnb Vrbo
Red Pines 2 BR VIP "Sweet" with Lake View Apartment	2 bd · 1 ba · sleeps 4	$28,387	$229	34%	5★ (41)	3.1 mi	Airbnb
Northshore Cottage (2 bedrooms) on Lake Onalaska Cottage	2 bd · 1 ba · sleeps 4	$37,199	$111	92%	4.9★ (415)	3.2 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

Term

Purchase priceDown payment %30-yr rate %Already furnishedTax bracketCount tax savings in returnsOnly if you can use the losses (STR loophole)

Rate 7.78% = 7.03% Freddie Mac 30-yr avg (Sep 24) + 0.75% investor premium

Est. revenue

$26,021

NOI

$10,409

Cash flow /mo

-$479

Cash needed

$88,471

Cash-on-cash

-6.5%

ROE (yr 1)

3.8%

Cap rate

4.2%

DSCR

0.64

Year-1 write-off

$69,160

Year-1 tax shield @ 32%

$22,131

Year-1 return on equity

Cash flow (annual)-$5,750
Principal paydown$1,635
Appreciation at%$7,497

ROE3.8%

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)$5,204
Platform fees (3% of revenue)$781
Maintenance / capex (5% of revenue)$1,301
Utilities & supplies$4,200
HOA$0
Property tax$2,889
Insurance (STR-rated)$1,237

Cash needed to close

Down payment (25%)$62,475
Closing costs (4.0%)$9,996
Furnishing (bought new)$16,000

Tax savings if the STR loophole applies

Tax shield @ 32%$22,131

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

$169,000

Short-life (5/15-yr)

$53,000 · 31%

Year-1 deduction

$69,000

Year-1 tax shield @ 32%

$22,000

Land 32% (county tax record, assessed value split) · building $117,000 over 39 years · new furniture $16,000

Based on: 1,196 sq ft, built 1900, 2 bd / 1 ba, unfurnished, listing features (deck, appliance list).

Try the cost segregation calculator on any property →

IRS-guide safe-harbor floor: $46,000 in year 1 (17% short-life, $15,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.

5-year property$44,700

Kitchen cabinetsdefault
$8,400 new × 40% good × 1.68 allocation
$5,700
Kitchen countertopsdefault
$6,900 new × 40% good × 1.68 allocation
$4,600
Decorative trimdefault
$2,100 new × 40% good × 1.68 allocation
$1,400
Mirrorsdefault
$200 new × 40% good × 1.68 allocation
$100
Shelvingdefault
$900 new × 40% good × 1.68 allocation
$600
Window coverings (12)default
$3,000 new × 40% good × 1.68 allocation
$2,000
Carpet, vinyl & laminate (40% of floors)default
$3,100 new × 40% good × 1.68 allocation
$2,100
Kitchen & laundry equipment plumbingdefault
$6,600 new × 40% good × 1.68 allocation
$4,400
Kitchen, laundry & data equipment electricaldefault
$4,000 new × 40% good × 1.68 allocation
$2,700
Appliances (range, microwave, dishwasher, refrigerator, washer, dryer)listing
$7,700 new × 40% good × 1.68 allocation
$5,200
Furniture bought newlisting
$16,000 new × 100% good · bought separately
$16,000

15-year land improvements$24,100

Paving: driveway & walks (paved)listing
$7,200 new × 50% good × 1.68 allocation
$6,000
Landscaping (typical)default
$6,900 new × 50% good × 1.68 allocation
$5,800
Patiosdefault
$1,200 new × 50% good × 1.68 allocation
$1,000
Decks & porches (attached)listing
$13,500 new × 50% good × 1.68 allocation
$11,300

Building, 39-year$116,500

Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault
$129,600 new × 40% good × 1.68 allocation
$87,000
Building plumbing & fixturesdefault
$13,400 new × 40% good × 1.68 allocation
$9,000
Building electrical & lightingdefault
$12,400 new × 40% good × 1.68 allocation
$8,300
HVACdefault
$13,500 new × 40% good × 1.68 allocation
$9,000
Hardwood & tile floorsdefault
$4,600 new × 40% good × 1.68 allocation
$3,100

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	$44,700	$24,100	$400	$69,200
2	$0	$0	$3,000	$3,000
3	$0	$0	$3,000	$3,000
4	$0	$0	$3,000	$3,000
5	$0	$0	$3,000	$3,000
6+	$0	$0	$104,200	$104,200
Total	$44,700	$24,100	$116,500	$185,300

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.