325 E Chester St

Plainfield, WI 54966

$129,900C-

4 bd · 1.0 ba · 1,554 sqft · Built 1900 · SingleFamily · Active · 17 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,070/mo
• Mortgage (P&I): −$681
• Tax + insurance: −$200
• HOA: −$0
• Vac / Maint / Mgmt: −$225
• Net cashflow: $-36/mo
• Annual: $-428/yr
• Cap rate: 5.96%
• Cash-on-cash: -1.18%
• DSCR: 0.95
• 1% rule: 0.82%
• Cash to close: $36,372

Investor read

• This is a 4-bed/1.0-bath single-family listed at $130k.
• At list price, monthly cash flow is $-36 ($-428/yr) — negative.
• To cash-flow at today's rent, offer at most $124k (4.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $107k (17.6% below list).
• It's been on market 17 days — a 2% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $107k (17.6% below list) — sets the bar for 1% rule.
• In year one you build about $10k of equity ($898 loan paydown + $9k appreciation (7.3% local appreciation)).
• Location reads 62/100 on livability (#627 in WI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D, health & safety D, amenities F.
• Tri-County Area School District (rural): math 21% / reading 23% proficiency, ranked #326 of 342 in WI (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Tri-County Elementary (math 37% / reading 37%, grade F, #562 of 1,041 statewide, top 58%, 265 students, 63% FRL); Tri-County Middle (math 17% / reading 22%, grade F, #347 of 383 statewide, top 92%, 133 students, 67% FRL); Tri-County High (math 15% / reading 15%, grade F, #414 of 483 statewide, top 87%, 177 students, 55% FRL).
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 6 active listings in the ZIP; 127 units permitted in Waushara County in 2024 (15 in 5+ unit buildings).
• Waushara County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $62k; list at $130k implies a 111% gain — meaningful room to come down on a strong offer.
• At projected returns (7.3% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.