W4387 Laurel St

Williams Bay, WI 53147

$850D+

4 bd · 3.5 ba · 4,400 sqft · Built 1964 · SingleFamily · Coming Soon · 77 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,317/mo
• Mortgage (P&I): −$4
• Tax + insurance: −$1
• HOA: −$0
• Vac / Maint / Mgmt: −$697
• Net cashflow: $2,615/mo
• Annual: $31,376/yr
• Cap rate: 3697.62%
• Cash-on-cash: 13183.31%
• DSCR: 587.58
• 1% rule: 390.26%
• Cash to close: $238

Investor read

• This is a 4-bed/3.5-bath single-family listed at $850.
• At list price, monthly cash flow is $3k ($31k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $850).
• It's been on market 77 days — a 6% lower offer ($799) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $799 (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $6 of loan paydown is wiped out by about $26 of value loss. Plan a longer hold.
• Location reads 76/100 on livability (#131 in WI, #3,409 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, health & safety A+, housing B+; Watch: amenities F, commute F.
• Geneva J4 School District (town): math 40% / reading 55% proficiency, ranked #129 of 426 in WI (top 30%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 11% free/reduced lunch — higher-income household profile.
• Market conditions: 229 active listings in the ZIP; solid renter incomes; 474 units permitted in Walworth County in 2024 (77 in 5+ unit buildings).
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $238 cash investment doubles in ~1 year — after that, you're playing with house money.
• Cap rate 3697.6% vs local median 3.7% in Williams Bay — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.
• At $3,317/mo this rent would consume 48% of the median local household income ($84k/yr) (locally 526% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• It's been on market 77 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
• What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
• How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.