231 Wood St

Redgranite, WI 54970

$110,000D

1 bd · 1.0 ba · 720 sqft · Built 1975 · SingleFamily · Active · 76 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $811/mo
• Mortgage (P&I): −$577
• Tax + insurance: −$73
• HOA: −$0
• Vac / Maint / Mgmt: −$170
• Net cashflow: $-10/mo
• Annual: $-117/yr
• Cap rate: 6.19%
• Cash-on-cash: -0.38%
• DSCR: 0.98
• 1% rule: 0.74%
• Cash to close: $30,800

Investor read

• This is a 1-bed/1.0-bath single-family listed at $110k.
• At list price, monthly cash flow is $-10 ($-117/yr) — negative.
• To cash-flow at today's rent, offer at most $108k (1.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $81k (26.3% below list).
• It's been on market 76 days — a 6% lower offer ($103k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $81k (26.3% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $761 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 67/100 on livability (#441 in WI) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A-; Watch: amenities F, commute F, health & safety D-.
• Wautoma Area School District (rural): math 31% / reading 32% proficiency, ranked #265 of 342 in WI (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Redgranite Elementary (math 44% / reading 34%, grade F, #490 of 1,041 statewide, top 53%, 119 students, 66% FRL); Parkside School (math 30% / reading 34%, grade F, #232 of 383 statewide, top 64%, 471 students, 57% FRL); Wautoma High (math 17% / reading 27%, grade F, #349 of 483 statewide, top 75%, 375 students, 54% FRL).
• Market conditions: 18 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.

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 76 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
• Built in 1975 — 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 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?
• 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.