8311 State Highway 13 South Lot 50

Port Edwards, WI 54494

$69,000B

2 bd · 2.0 ba · 1,216 sqft · Built 1997 · Manufactured · Active · 54 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $895/mo
• Mortgage (P&I): −$362
• Tax + insurance: −$115
• HOA: −$0
• Vac / Maint / Mgmt: −$188
• Net cashflow: $230/mo
• Annual: $2,758/yr
• Cap rate: 10.29%
• Cash-on-cash: 14.27%
• DSCR: 1.64
• 1% rule: 1.30%
• Cash to close: $19,320

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $69k. Condition is rated good.
• At list price, monthly cash flow is $230 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($895 rent vs $69k).
• It's been on market 54 days — a 3% lower offer ($67k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $67k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $477 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 68/100 on livability (#364 in WI) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, health & safety D, amenities F.
• Wisconsin Rapids School District (town): math 28% / reading 33% proficiency, ranked #274 of 342 in WI (top 80%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Woodside Elementary (math 42% / reading 37%, grade F, #490 of 1,041 statewide, top 53%, 349 students, 38% FRL); Wisconsin Rapids Area Middle (math 16% / reading 27%, grade F, #342 of 383 statewide, top 89%, 924 students, 49% FRL); Lincoln High (math 29% / reading 42%, grade F, #140 of 483 statewide, top 29%, 1,380 students, 42% FRL) — zoned schools at 43% FRL track the district average.
• Market conditions: 139 active listings in the ZIP; 122 units permitted in Wood County in 2024 (0 in 5+ unit buildings).
• Wood County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~9 years — after that, you're playing with house money.
• This rent is only 15% of the median local income ($73k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Questions for listing agent

• It's been on market 54 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• 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?
• 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.