W3816 Highland Dr
Greenfield, WI 54601
$849,900
4 bd · 3.5 ba · 4,484 sqft · Listed 14d ago
View on Realtor.com →Year built
2018
Sqft
4,484
Lot sqft
94,525
HOA / mo
None
Furnished
No
List date
2026-09-17T15:19:09.000000Z
Revenue
Annual revenue
$69,474
ADR
$449
Occupancy
42%
Cleaning fees (12 mo)
$7,116
Confidence
Low (39.78), 10 comps
Comp revenue range (p25 / median / p75)
Secluded, Romantic, Family Friendly and Cozy, Last House in the Valley.
House · 5 bd · 3 ba · sleeps 18 · 5.2 mi
Revenue $46,795ADR $338Occ ≈ 38%5★ (422)
Designer Family Fun home, Arcade, secret nook!
House · 3 bd · 3.5 ba · sleeps 10 · 5.3 mi
Revenue $77,348ADR $411Occ ≈ 52%4.9★ (171)
The Bluff View Collective Main House + Studio
House · 4 bd · 2.5 ba · sleeps 8 · 6.0 mi
Revenue $26,322ADR $472Occ ≈ 15%5★ (1)
| Listing | Size | Revenue (12 mo) | ADR | Occ ≈ | Rating | Distance | Links |
|---|---|---|---|---|---|---|---|
Large Cabin Retreat | Games, Nature & Fire-pit Cabin | 4 bd · 3 ba · sleeps 16 | $120,287 | $777 | 42% | 5★ (40) | 3.9 mi | AirbnbVrboBooking |
Luxury Bluff Retreat • 10 Minutes to Downtown House | 5 bd · 3 ba · sleeps 10 | $129,270 | $589 | 60% | 5★ (192) | 3.9 mi | AirbnbVrbo |
House in the Hills! Charming luxury right in town House | 5 bd · 3 ba · sleeps 10 | $58,092 | $431 | 37% | 5★ (200) | 5.1 mi | AirbnbVrbo |
Sunlit & spacious home in a quiet, natural setting House | 4 bd · 3.5 ba · sleeps 9 | $12,271 | $268 | 13% | 4.6★ (42) | 5.1 mi | AirbnbVrbo |
Secluded, Romantic, Family Friendly and Cozy, Last House in the Valley. House | 5 bd · 3 ba · sleeps 18 | $46,795 | $338 | 38% | 5★ (422) | 5.2 mi | Vrbo |
Designer Family Fun home, Arcade, secret nook! House | 3 bd · 3.5 ba · sleeps 10 | $77,348 | $411 | 52% | 4.9★ (171) | 5.3 mi | Airbnb |
Adventurer’s Retreat House | 3 bd · 2.5 ba · sleeps 10 | $32,548 | $459 | 19% | 5★ (34) | 5.3 mi | AirbnbVrbo |
Swedish Storybook in bluffs hiking trails & stream Place | 5 bd · 3 ba · sleeps 11 | $57,135 | $493 | 32% | 4.8★ (177) | 5.4 mi | AirbnbVrbo |
Open Concept Country Home w/ A+ Location & Pool House | 3 bd · 3 ba · sleeps 10 | $76,301 | $735 | 28% | 4.7★ (19) | 5.8 mi | AirbnbVrbo |
The Bluff View Collective Main House + Studio House | 4 bd · 2.5 ba · sleeps 8 | $26,322 | $472 | 15% | 5★ (1) | 6.0 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
Est. revenue
$69,474
NOI
$32,464
Cash flow /mo
$2,705
Cash needed
$912,896
Cash-on-cash (all cash)
3.6%
ROE (yr 1)
6.3%
Cap rate
3.8%
DSCR
—
Year-1 write-off
$162,073
Year-1 tax shield @ 32%
$51,863
Year-1 return on equity
- Cash flow (annual)$32,464
- Principal paydown (n/a, cash)$0
- Appreciation at%$25,497
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)$13,895
- Platform fees (3% of revenue)$2,084
- Maintenance / capex (5% of revenue)$3,474
- Utilities & supplies$4,200
- HOA$0
- Property tax$9,150
- Insurance (STR-rated)$4,207
Cash needed to close
- Purchase price (all cash)$849,900
- Closing costs (4.0%)$33,996
- Furnishing (bought new)$29,000
Tax savings if the STR loophole applies
- Tax shield @ 32%$51,863
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
$763,000
Short-life (5/15-yr)
$131,000 · 17%
Year-1 deduction
$162,000
Year-1 tax shield @ 32%
$52,000
Land 10% (county tax record, assessed value split) · building $631,000 over 39 years · new furniture $29,000
Based on: 4,484 sq ft, built 2018, 4 bd / 3.5 ba, unfurnished, listing features (hot tub, deck, patio, game room, fireplace, flooring types, appliance list, septic).
Try the cost segregation calculator on any property →
IRS-guide safe-harbor floor: $100,000 in year 1 (9% short-life, $32,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.
- $11,800
Kitchen cabinetsdefault
$15,600 new × 68% good × 1.11 allocation
- $9,600
Kitchen countertopsdefault
$12,800 new × 68% good × 1.11 allocation
- $5,900
Decorative trimdefault
$7,800 new × 68% good × 1.11 allocation
- $200
Mirrorsdefault
$500 new × 40% good × 1.11 allocation
- $1,100
Shelvingdefault
$1,500 new × 68% good × 1.11 allocation
- $5,000
Window coverings (45)default
$11,300 new × 40% good × 1.11 allocation
- $11,300
Kitchen & laundry equipment plumbingdefault
$12,200 new × 84% good × 1.11 allocation
- $6,800
Kitchen, laundry & data equipment electricaldefault
$7,300 new × 84% good × 1.11 allocation
- $3,600
Appliances (range, microwave, dishwasher, disposal, refrigerator, washer, dryer)listing
$8,100 new × 40% good × 1.11 allocation
- $4,000
Hot tub (freestanding)listing
$9,000 new × 40% good × 1.11 allocation
- $23,000
Furniture bought newlisting
$23,000 new × 100% good · bought separately
- $6,000
Game-room equipment bought newlisting
$6,000 new × 100% good · bought separately
- $13,100
Paving: driveway & walks (paved)listing
$17,400 new × 68% good × 1.11 allocation
- $10,000
Landscaping (typical)default
$13,400 new × 68% good × 1.11 allocation
- $15,200
Patioslisting
$20,200 new × 68% good × 1.11 allocation
- $33,500
Decks & porches (attached)listing
$50,400 new × 60% good × 1.11 allocation
- $467,900
Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault
$488,000 new × 87% good × 1.11 allocation
- $47,000
Building plumbing & fixturesdefault
$50,600 new × 84% good × 1.11 allocation
- $50,300
Building electrical & lightingdefault
$54,100 new × 84% good × 1.11 allocation
- $33,500
HVACdefault
$50,500 new × 60% good × 1.11 allocation
- $21,700
Hardwood & tile floorsdefault
$28,900 new × 68% good × 1.11 allocation
- $2,000
Fireplacelisting
$2,600 new × 68% good × 1.11 allocation
- $9,000
Septic systemlisting
$12,000 new × 68% good × 1.11 allocation
About the property
Depreciation schedule: typical cost seg study
| Year | 5-yr | 15-yr | Building | Total |
|---|---|---|---|---|
| 1 | $88,300 | $71,800 | $2,000 | $162,100 |
| 2 | $0 | $0 | $16,200 | $16,200 |
| 3 | $0 | $0 | $16,200 | $16,200 |
| 4 | $0 | $0 | $16,200 | $16,200 |
| 5 | $0 | $0 | $16,200 | $16,200 |
| 6+ | $0 | $0 | $564,700 | $564,700 |
| Total | $88,300 | $71,800 | $631,500 | $791,500 |
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.