Real Estate Investing in Athelstane, Wisconsin (54104)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 54104 (Athelstane, WI)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 75.8% of homes vacant — above national norms.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Athelstane, WI (54104)?
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Market Analysis: 54104 Athelstane
Not every below-median market is a bargain. Athelstane's 54104 ZIP reflects signals that favor experienced operators who can absorb the risk $215K pricing implies.
Rent of $900/mo on a $215K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 54104 sits below the stated 0.0% once reality is priced in.
The gap between 54104 and stronger Athelstane ZIPs is not closing quickly. Investors should weight long-horizon assumptions accordingly.
Meanwhile, 1,003 residents fill the ZIP, renter turnover runs higher than neighboring postal codes and delinquency risk is a real line item rather than a theoretical one.
The 54104 ZIP fits a narrow investor profile — hands-on, patient, and willing to accept that the cap rate on paper is not the cap rate in reality.
Here's what matters if you're considering buying a home in Athelstane:
Market Trends
Home Value History (with trend line)
📊 How Does 54104 Compare?
| Metric | 54104 | Athelstane | Marinette, WI-MI | Wisconsin |
|---|---|---|---|---|
| Home Value | $214,606 | $189,322 | N/A | $320,446 |
| 5-Year CAGR | 8.8% | 9.1% | N/A | 7.3% |
| Avg Rent | $900 | $887 | N/A | - |
| Cap Rate | 3.3% | 3.7% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 54104 (Athelstane, WI). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $214,606 |
| Monthly Rent | $900 |
| Price-to-Rent | 19.9:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.0% |
| Cap Rate | 3.3% |
| 5-Year IRR | 12.0% |
📈 Home Appreciation
| 1-Year | +13.8% ▲ |
| 3-Year CAGR | +6.6% ▲ |
| 5-Year CAGR | +8.8% ▲ |
| 10-Year CAGR | +8.5% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.3%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 54104
Population: 1,003
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
Frequently Asked Questions
What are home prices like in Athelstane, WI?
The median home value in Athelstane, WI is roughly $215K. That puts it reasonable relative to the WI statewide average.
What is the best play in Athelstane, WI?
For Athelstane, WI, careful cash-flow rentals with hands-on management is the standard investor playbook. The market structure makes it a reasonable default approach.
How landlord-friendly is Athelstane, WI?
Landlord-friendliness in Athelstane, WI is landlord-friendly. Eviction timelines and lease enforcement are considered reasonable by most property managers.
How quickly do rentals get leased in Athelstane, WI?
Vacancy risk in Athelstane, WI is elevated. That supports steady cash flow for typical rental holds.
Is Athelstane, WI a good market for FHA house hackers?
Athelstane, WI offers a challenging house-hacking opportunity. Small multifamily or rent-by-the-room plays can pair well with the $900/mo rent level.
You know 54104 now. You don’t know where it ranks.
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How 54104 ranks in Marinette, WI-MI
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