105 E Crumb St

Gilman, WI 54433

$135,000C+

3 bd · 1.0 ba · 1,395 sqft · Built 1900 · Other · Active · 51 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,223/mo
• Mortgage (P&I): −$708
• Tax + insurance: −$104
• HOA: −$0
• Vac / Maint / Mgmt: −$257
• Net cashflow: $154/mo
• Annual: $1,852/yr
• Cap rate: 7.66%
• Cash-on-cash: 4.90%
• DSCR: 1.22
• 1% rule: 0.91%
• Cash to close: $37,800

Investor read

• This is a 3-bed/1.0-bath other listed at $135k.
• At list price, monthly cash flow is $154 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $122k (9.4% below list).
• It's been on market 51 days — a 3% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $122k (9.4% below list) — sets the bar for 1% rule.
• In year one you build about $11k of equity ($933 loan paydown + $10k appreciation (7.2% local appreciation)).
• Location reads 70/100 on livability (#297 in WI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime C-, amenities F, commute F.
• Gilman School District (rural): math 35% / reading 25% proficiency, ranked #380 of 426 in WI (top 89%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Gilman Elementary (math 27% / reading 22%, grade F, #783 of 1,041 statewide, top 79%, 150 students, 53% FRL); Gilman High (math 17% / reading 22%, grade F, #385 of 483 statewide, top 82%, 152 students, 46% FRL) — zoned schools at 49% FRL track the district average.
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 12 active listings in the ZIP; 109 units permitted in Taylor County in 2024 (55 in 5+ unit buildings).
• Taylor County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $12k; list at $135k implies a 1025% gain — meaningful room to come down on a strong offer.
• At projected returns (7.2% appreciation + 3.0% rent growth), your $38k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, 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

• It's been on market 51 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Built in 1900 — 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.
• 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.