Real Estate Investing in Manitowish Waters, Wisconsin (54545)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 54545 (Manitowish Waters, WI)? Our answer, based on the numbers below.
Multiple negative signals. Better options likely exist nearby.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 64.4% of homes vacant — above national norms.
- High price-to-rent: Price-to-rent ratio 51.9 — hard to cash-flow at these prices.
• Limited market data — this is a very small market; averages are built from few observations and can swing widely. • Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Manitowish Waters, WI (54545)?
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Market Analysis: 54545 Manitowish Waters
This part of Vilas County is not an easy win. The 54545 ZIP clocks in at softness in key indicators, and the playbook that works in cleaner markets often stalls here.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $717K asset, 54545 is the wrong submarket. If the plan prices in friction, the yield can still work.
Regionally, 54545 sits on the difficult end of the WI spectrum. The worth a close look for read — for disciplined operators — is that pricing reflects the difficulty.
Employment concentration in 54545 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
New investors are better served looking at Manitowish Waters's stable or hybrid ZIPs before stepping into 54545. The learning curve here is expensive when the lesson is wrong.
Here's what matters if you're considering buying a home in Manitowish Waters:
Market Trends
Home Value History (with trend line)
📊 How Does 54545 Compare?
| Metric | 54545 | Manitowish Waters | Wisconsin |
|---|---|---|---|
| Home Value | $717,448 | $717,448 | $320,446 |
| 5-Year CAGR | 6.7% | 6.7% | 7.3% |
| Avg Rent | $1,152 | $1,152 | - |
| Cap Rate | 1.3% | 1.3% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 54545 (Manitowish Waters, WI). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $717,448 |
| Monthly Rent | $1,152 |
| Price-to-Rent | 51.9:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 1.9% |
| Cap Rate | 1.3% |
| 5-Year IRR | 7.9% |
📈 Home Appreciation
| 1-Year | +15.6% ▲ |
| 3-Year CAGR | +4.6% ▲ |
| 5-Year CAGR | +6.7% ▲ |
| 10-Year CAGR | +5.6% ▲ |
🏠 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 (1.3%). 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 54545
Population: 954
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
🎓 Schools in 54545
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
Frequently Asked Questions
Are rents high in Manitowish Waters, WI?
Rents in Manitowish Waters, WI run near $1,152/mo. Compared with median home prices of $717K that produces solid gross yields for typical rentals.
Are tenants stable in Manitowish Waters, WI?
Manitowish Waters, WI draws a measured base of working renters. Demand at the $1,152/mo rent level is reasonable for standard single-family and small multi rentals.
What are home prices like in Manitowish Waters, WI?
Median home price in Manitowish Waters, WI is near $717K, with a 5-year CAGR of 0.0%. Prices have been even-keeled and supportive of buy-and-hold strategies.
Can I live-in-and-rent in Manitowish Waters, WI?
House hacking in Manitowish Waters, WI is a challenging. With home values around $717K and rents at $1,152/mo, owner-occupants can offset a meaningful share of PITI.
What strategy should investors use in Manitowish Waters, WI?
A careful cash-flow rentals with hands-on management strategy Manitowish Waters, WI best. The market produces reliable results for that approach at the $717K price point.
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