1077 Old Hwy 51 Rd S Unit A26

Arbor Vitae, WI 54568

$22,900B-

2 bd · 1.0 ba · 720 sqft · Built 1970 · Manufactured · Pending · 41 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $790/mo
• Mortgage (P&I): −$120
• Tax + insurance: −$38
• HOA: −$0
• Vac / Maint / Mgmt: −$166
• Net cashflow: $466/mo
• Annual: $5,588/yr
• Cap rate: 30.70%
• Cash-on-cash: 87.16%
• DSCR: 4.88
• 1% rule: 3.45%
• Cash to close: $6,412

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $23k. Condition is rated fair.
• At list price, monthly cash flow is $466 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($790 rent vs $23k).
• It's been on market 41 days — a 3% lower offer ($22k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $22k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $158 of loan paydown is wiped out by about $687 of value loss. Plan a longer hold.
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Lakeland Uhs School District (rural): math 35% / reading 40% proficiency, ranked #287 of 426 in WI (top 67%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Lakeland High (math 37% / reading 42%, grade F, #99 of 483 statewide, top 24%, 721 students, 46% FRL).
• Market conditions: 43 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; this cycle's ask has dropped $7k (23%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $6k cash investment doubles in ~2 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 41 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1970 — 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.
• This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
• What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
• Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
• 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.

Repairs flagged (vision-AI assessment)

• Major: Kitchen cabinets — No photos of kitchen
• Major: Bathroom fixtures — No photos of bathroom
• Moderate: Exterior siding — Weathered and needs repainting
• Major: Carpeted flooring — Worn and needs replacement
• Major: Interior walls/paint — Paint is peeling and needs repainting
• Moderate: Windows — Not new and may need replacement