Houses in Wisconsin Rapids (Milwaukee, Madison: rentals, neighborhood, new construction)

[Birdie]

I go thru Wisconsin Rapids every week to go to Wausau WI, I started at looking at smaller houses and noticed how inexpensive they are. Does anyone else notice that and why do you think that is? I own several single family rentals in other towns but I noticed there are quite a few houses in the 50 to 65,000 range in the Wisconsin Rapids area. Any information would be helpful.

[Wisco_#1]

Probally cause that city is going down the tubes. Population estimates keep saying losses...........paper mill which is a big employer is laying off people...........nothing to do

[Birdie]

Is the whole city based on the paper mills? It seems like their is quite a bit of new construction. Do you have any other helpful information?

[Wisco_#1]

Well not the whole city and there is new construction. Lately we have gotten (we as in Marshfield) have gotten some Wisconsin Rapid people who are looking for jobs because of the paper mill. Sorry, but thats all I know.....

[ittybittykiki]

Birdie,
Most of the houses around here (within city limits) have been around for a long time on small city lots. Though they are maintained & kept up to code, that's about it; no huge "improvements" to make the value of the property go up. Plus, the cost of living around here is very low. The houses that are being newly constructed are mostly in the 100,00 - 250,000 range.
Hope this helps

[small town boy]

When I took a job Stevens Point in 1996, I bought a house in Wisconsin Rapids because I could get much more house for the money. Technically, I'm in Grand Rapids Township, but it's part of the same community. I have a modest three bedroom ranch that was built in 1995. I have a three-stall completely finished heated (gas forced air) and air-conditioned garage/body shop, an 80 sq. foot storage building, and a 240 sq. foot storage building for my car hobby. (Not ugly sheds - all of the buildings match the house). It all sits on a 1/2 acre lot (the minimum size allowed in Grand Rapids) and the whole neighborhood is nestled among towering 100-year-old white pines. My property was appraised in 2005 for $110,000, and the house next door sold for $115,00 in 2006. My propery taxes are about $1,800 a year. If you have richer tastes, there are a number of homes in the $200,000 to $500,000 bracket.
Most everything I need I can get in town. For the rest, Stevens Point, Wausau & Marshfield are 30 to 45 minutes away. I can be in the Fox Cities (Neenah/Appleton) in an hour; in Eau Claire, Green Bay, or Madison in 90 minutes; Minneapolis/St.Paul in 2-1/2 hours and Milwaukee in 3 hours.
Wisconsin Rapids was built around the paper mills, which have recently been purchased by foreign investors and downsized, but to say the town is "going down the tubes" is a gross overstatement. Renaissance Learning, a developer of educational software, and WoodTrust, the largest privately owned bank in Wisconsin, are both headquartered here. Home Depot built a new store here in 2006, and many other national chains have opened stores here recently. They wouldn't be doing that if their analysis of the local economy was not favorable.