Real Estate Investing in Merrillan, Wisconsin (54754)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 54754 (Merrillan, 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: 40.2% 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 Merrillan, WI (54754)?
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Market Analysis: 54754 Merrillan
The 54754 ZIP in Merrillan, WI is a local-operator market. Outside capital chasing a $244K entry has to pair deep knowledge with the discount.
Rent of $918/mo on a $244K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 54754 sits below the stated 0.0% once reality is priced in.
Nearby ZIPs in Merrillan have seen price recovery that 54754 has not matched. Jackson County data supports the view that the spread is structural rather than temporary.
Turning to rents, 1,518 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 54754 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 Merrillan:
Market Trends
Home Value History (with trend line)
📊 How Does 54754 Compare?
| Metric | 54754 | Merrillan | Wisconsin |
|---|---|---|---|
| Home Value | $243,684 | $243,684 | $320,446 |
| 5-Year CAGR | 8.2% | 8.2% | 7.3% |
| Avg Rent | $918 | $918 | - |
| Cap Rate | 2.9% | 2.9% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 54754 (Merrillan, WI). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $243,684 |
| Monthly Rent | $918 |
| Price-to-Rent | 22.1:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.5% |
| Cap Rate | 2.9% |
| 5-Year IRR | 11.1% |
📈 Home Appreciation
| 1-Year | +17.7% ▲ |
| 3-Year CAGR | +8.1% ▲ |
| 5-Year CAGR | +8.2% ▲ |
| 10-Year CAGR | +7.4% ▲ |
🏠 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 (2.9%). 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 54754
Population: 1,518
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 54754
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
How strict are landlord regulations in Merrillan, WI?
Merrillan, WI operates under WI law, which is landlord-friendly overall for landlords. Expect even-keeled treatment in typical lease and eviction cases.
Does house hacking work in Merrillan, WI?
House hacking in Merrillan, WI is reasonable to execute. Prices around $244K and rents of $918/mo solid owner-occupant economics.
Are renters plentiful in Merrillan, WI?
Merrillan, WI draws a consistent base of working renters. Demand at the $918/mo rent level is reasonable for standard single-family and small multi rentals.
What do landlords charge for rent in Merrillan, WI?
Expect rents around $918/mo per month in Merrillan, WI. With home values at $244K, the yield math works out to reasonable levels for rental investors.
How much should I expect to pay for a home in Merrillan, WI?
Expect median prices around $244K in Merrillan, WI. The market has run at a 0.0% 5-year CAGR, so entry costs have been even-keeled.
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