320 E Park St

Neshkoro, WI 54960

$75,000B-

4 bd · 1.0 ba · 1,816 sqft · Built 1900 · SingleFamily · Pending · 14 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,269/mo
• Mortgage (P&I): −$393
• Tax + insurance: −$190
• HOA: −$0
• Vac / Maint / Mgmt: −$266
• Net cashflow: $419/mo
• Annual: $5,031/yr
• Cap rate: 13.00%
• Cash-on-cash: 23.96%
• DSCR: 2.07
• 1% rule: 1.69%
• Cash to close: $21,000

Investor read

• This is a 4-bed/1.0-bath single-family listed at $75k.
• At list price, monthly cash flow is $419 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $519 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 57/100 on livability (#744 in WI) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing B+; Watch: crime C-, schools F, amenities F.
• Westfield School District (rural): math 39% / reading 37% proficiency, ranked #195 of 342 in WI (top 57%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: property tax is 2.5% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 17 active listings in the ZIP; 95 units permitted in Marquette County in 2024 (0 in 5+ unit buildings).
• Marquette County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $8k; list at $75k implies a 782% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~6 years — after that, you're playing with house money.

Questions for listing agent

• Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• 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?
• 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.