Download presentation
Presentation is loading. Please wait.
Published byAshlee Hodges Modified over 9 years ago
2
Research Questions:Research Questions: What motivates a person to purchase an investment property in Minocqua, WI? Why would they choose to invest here rather than other parts of the United States? How would I go about finding a property in Minocqua, Wisconsin?
3
Background - MinocquaBackground - Minocqua Minocqua, WI “Island City” Northwest Corner of Oneida County Gained Township Status on March 13, 1889 Supported by Logging in early years Source: Minocqua Chamber of Commerce
4
Background - MinocquaBackground - Minocqua Population 4,453 Population nearly quadruples during the summer months 45 Lakes within Township of Minocqua One of the largest concentration of freshwater bodies in the world 3,200 lakes, streams, and ponds Supported by mainly by tourism industry Endless outdoor recreational opportunities Source: Minocqua Chamber of Commerce
5
Income Producing (Rental)Income Producing (Rental) Offices, Retail, Industrial, and Leased Residential Tenants pay rent Good investment for cash-on-cash return Most commonly held property Good return on investment = 5% without capital appreciation
6
Non-Income ProducingNon-Income Producing Houses, Vacation properties, or vacant commercial buildings Capital Appreciation Must have income to support investment
7
Important ConsiderationsImportant Considerations Pricing Renovation Maintenance Location Vacancy Issue
8
Pricing Most Important Factor Income producing (Rental) Realtor (Purchase & Rental Price) Rental Market Research Property Management Services (Northwoods Property Management) Non-Income Producing Realtor & Self-Educated
9
Renovation Costly and Time Consuming Obtaining Permits dependent on type of renovation Zoning Laws – Residential, Commercial, Business, Waterfront, Off-water Chapter NR115 of Wisconsin State Legislature Inhibits the building on structures on waterfront locations Source: State of Wisconsin
10
Maintenance Costly and Time Consuming Increase properties value Property Management Convenient, but costly!
11
Location “Location, Location, Location” Main differences Townships: Minocqua lower mill rate On-water Property Average Sale Price: $330,986 Off-water Average Sale Price: $126,653 Source: Interfacexpress: Greater Northwoods Multiple Listing Service
12
Sale Price AveragesSale Price Averages
13
Real Estate MarketReal Estate Market
14
Vacancy IssuesVacancy Issues 32,300 Housing Units in Oneida County 12,300 units or 41% Used for seasonal, recreational, or occasional use Source: Oneida County Workforce Profile
15
Economic Analysis: Employment State of Wisconsin added 122,000 private sector jobs since 2010 Oneida County: 16,452 people employed in 2013 412 Jobs added in 2013 Two largest industries: Leisure and Hospitalities and Trade, Transportation, and Utilities Source: Oneida County Workforce Profile
16
Employment
17
Economic Analysis: WagesEconomic Analysis: Wages Wisconsin Average Annual Wage: $41,985 Oneida County Average Annual Wage: $33,502 20% Lower than Statewide Average Between 2011 – 2012 Average Annual Wages Grew by 2.4% Relatively low average wages are largely a result of as lower cost of living Source: Oneida County Workforce Profile
18
Wages
19
Wages
20
Real Estate Market Analysis 319 Active Listings 22 Active O/C (Offer Contingency) 203 Properties sold Total Property Valuation= $1.5 Billion (January 1, 2014 – May 3, 2014) Sources: 1) Interfacexpress: Greater Northwoods Multiple Listing Service 2) Town of Minocqua
21
Real Estate Market Analysis Lowest median price in 2011 at $115,000 Median Price in 2013: $120,000 Price increase of 4.3% from 2011 – 2013. Median Price 2014: $125,000 Price increase in 2014: ~4% Source: Interfacexpress: Greater Northwoods Multiple Listing Service
22
Real Estate MarketReal Estate Market
23
Conclusion What motivates a person to purchase an investment property in Minocqua, WI? Why would they choose to invest here rather than other parts of the United States? How would I go about finding a property in Minocqua, Wisconsin?
Similar presentations
© 2025 SlidePlayer.com. Inc.
All rights reserved.