620 Seminole Ave

Osceola, WI 54020

$195,000C

4 bd · 2.0 ba · 2,085 sqft · Built 1920 · SingleFamily · Active · 38 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,125/mo
• Mortgage (P&I): −$1,023
• Tax + insurance: −$328
• HOA: −$0
• Vac / Maint / Mgmt: −$446
• Net cashflow: $328/mo
• Annual: $3,941/yr
• Cap rate: 8.31%
• Cash-on-cash: 7.22%
• DSCR: 1.32
• 1% rule: 1.09%
• Cash to close: $54,600

Investor read

• This is a 4-bed/2.0-bath single-family listed at $195k.
• At list price, monthly cash flow is $328 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $195k).
• It's been on market 38 days — a 3% lower offer ($189k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $189k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 69/100 on livability (#318 in WI) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D, amenities F, commute F.
• Osceola School District (rural): math 54% / reading 46% proficiency, ranked #51 of 342 in WI (top 15%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 32 active listings in the ZIP; 238 units permitted in Polk County in 2024 (0 in 5+ unit buildings).
• Polk County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts; this cycle's ask has dropped $15k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Cap rate 8.3% vs local median 2.3% in Osceola — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Questions for listing agent

• It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1920 — 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.
• 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.