2550 Columbus Rd

Eagle River, WI 54521

$179,900D

3 bd · 1.0 ba · 1,171 sqft · Built 1952 · Other · Active · 117 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,479/mo
• Mortgage (P&I): −$943
• Tax + insurance: −$300
• HOA: −$0
• Vac / Maint / Mgmt: −$311
• Net cashflow: $-75/mo
• Annual: $-900/yr
• Cap rate: 5.79%
• Cash-on-cash: -1.79%
• DSCR: 0.92
• 1% rule: 0.82%
• Cash to close: $50,372

Investor read

• This is a 3-bed/1.0-bath other listed at $180k.
• At list price, monthly cash flow is $-75 ($-900/yr) — negative.
• To cash-flow at today's rent, offer at most $169k (6.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $148k (17.8% below list).
• It's been on market 117 days — a 9% lower offer ($164k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $148k (17.8% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 73/100 on livability (#215 in WI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime A; Watch: amenities C-, commute F, employment F.
• Northland Pines School District (rural): math 39% / reading 39% proficiency, ranked #189 of 342 in WI (top 55%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Northland Pines Elementary-Eagle River (math 44% / reading 35%, grade F, #490 of 1,041 statewide, top 53%, 498 students, 55% FRL); Northland Pines Middle (math 34% / reading 41%, grade F, #172 of 383 statewide, top 45%, 182 students, 46% FRL); Northland Pines High (math 27% / reading 37%, grade F, #184 of 483 statewide, top 41%, 417 students, 42% FRL).
• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 157 active listings in the ZIP; 359 units permitted in Vilas County in 2024 (67 in 5+ unit buildings).
• Vilas County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 9y ago; this cycle's ask has dropped $10k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $59k; list at $180k implies a 205% gain — meaningful room to come down on a strong offer.

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?
• It's been on market 117 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
• Built in 1952 — 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.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.