22195 Hwy 63 Unit Residential

Grand View, WI 54839

$155,900D+

3 bd · 1.5 ba · 3,404 sqft · Built 1998 · SingleFamily · Active · 158 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,375/mo
• Mortgage (P&I): −$818
• Tax + insurance: −$260
• HOA: −$0
• Vac / Maint / Mgmt: −$289
• Net cashflow: $9/mo
• Annual: $107/yr
• Cap rate: 6.36%
• Cash-on-cash: 0.24%
• DSCR: 1.01
• 1% rule: 0.88%
• Cash to close: $43,652

Investor read

• This is a 3-bed/1.5-bath single-family listed at $156k. Condition is rated fair.
• At list price, monthly cash flow is $9 ($107/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 $138k (11.8% below list).
• It's been on market 158 days — a 12% lower offer ($137k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $137k (12.0% below list) — sets the bar for market timing.
• In year one you build about $9k of equity ($1k loan paydown + $8k appreciation (5.0% local appreciation)).
• Location reads 60/100 on livability (#715 in WI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing B+; Watch: crime C-, health & safety D, amenities F.
• Drummond Area School District (rural): math 45% / reading 45% proficiency, ranked #186 of 426 in WI (top 44%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Drummond Elementary (math 52% / reading 47%, grade D, #257 of 1,041 statewide, top 30%, 181 students, 57% FRL); Drummond Junior High (math 24% / reading 34%, grade F, #261 of 383 statewide, top 73%, 48 students, 33% FRL); Drummond High (math 24% / reading 24%, grade F, #287 of 483 statewide, top 71%, 109 students, 44% FRL) — zoned schools at 45% FRL track the district average.
• Market conditions: 6 active listings in the ZIP; 106 units permitted in Bayfield County in 2024 (0 in 5+ unit buildings).
• Bayfield County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (5.0% appreciation + 3.0% rent growth), your $44k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 158 days. Have you received any prior offers? Is the seller open to a 12% 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?
• 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 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?
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Major: Roof — Significant ice damming and potential water damage.
• Major: Exterior siding — Severe weathering and staining, requiring replacement or repainting.
• Major: Landscaping — Minimal and covered in snow, indicating lack of maintenance.