613 Lake St

White Lake, WI 54491

$99,000C-

2 bd · 1.0 ba · 1,152 sqft · Built — · SingleFamily · Active · 12 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,012/mo
• Mortgage (P&I): −$519
• Tax + insurance: −$144
• HOA: −$0
• Vac / Maint / Mgmt: −$213
• Net cashflow: $136/mo
• Annual: $1,632/yr
• Cap rate: 7.94%
• Cash-on-cash: 5.89%
• DSCR: 1.26
• 1% rule: 1.02%
• Cash to close: $27,720

Investor read

• This is a 2-bed/1.0-bath single-family listed at $99k.
• At list price, monthly cash flow is $136 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $99k).
• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $8k of equity ($684 loan paydown + $8k appreciation (7.7% local appreciation)).
• Location reads 63/100 on livability (#604 in WI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety D, amenities F, commute F.
• White Lake School District (rural): math 10% / reading 30% proficiency, ranked #414 of 426 in WI (top 97%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: White Lake Elementary (math 34% / reading 15%, grade F, #782 of 1,041 statewide, top 75%, 98 students, 0% FRL); White Lake High (math 24% / reading 24%, grade F, #287 of 483 statewide, top 71%, 43 students, 0% FRL) — zoned schools average 0% FRL vs 58% district-wide (58 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 15 active listings in the ZIP; 186 units permitted in Langlade County in 2024 (0 in 5+ unit buildings).
• Langlade County population projected at -34% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $40k; list at $99k implies a 148% gain — meaningful room to come down on a strong offer.
• At projected returns (7.7% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• 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.