611 Opal Cir

Lannon, WI 53046

$115,000B+

3 bd · 2.0 ba · 1,792 sqft · Built 1994 · SingleFamily · Active · 53 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,345/mo
• Mortgage (P&I): −$603
• Tax + insurance: −$192
• HOA: −$0
• Vac / Maint / Mgmt: −$492
• Net cashflow: $1,058/mo
• Annual: $12,694/yr
• Cap rate: 17.33%
• Cash-on-cash: 39.42%
• DSCR: 2.75
• 1% rule: 2.04%
• Cash to close: $32,200

Investor read

• This is a 3-bed/2.0-bath single-family listed at $115k. Condition is rated fair.
• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• It's been on market 53 days — a 3% lower offer ($112k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $112k (3.0% below list) — sets the bar for market timing.
• In year one you build about $7k of equity ($795 loan paydown + $6k appreciation (5.0% local appreciation)).
• Location reads 78/100 on livability (#97 in WI, #2,485 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Hamilton School District (suburban): math 65% / reading 60% proficiency, ranked #12 of 342 in WI (top 4%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 12% free/reduced lunch — higher-income household profile.
• Zoned schools: Lannon Elementary (math 77% / reading 57%, grade B+, #37 of 1,041 statewide, top 4%, 334 students, 11% FRL); Templeton Middle (math 58% / reading 62%, grade B, #20 of 383 statewide, top 5%, 750 students, 15% FRL); Hamilton High (math 51% / reading 53%, grade D+, #30 of 483 statewide, top 6%, 1,562 students, 14% FRL) — zoned schools at 13% FRL track the district average.
• Market conditions: 22 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,885 units permitted in Waukesha County in 2024 (696 in 5+ unit buildings).
• At projected returns (5.0% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 53 days. Have you received any prior offers? Is the seller open to a 3% 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?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.

Repairs flagged (vision-AI assessment)

• Moderate: kitchen cabinets — dated and in need of updating
• Moderate: kitchen appliances — outdated and in need of replacement
• Moderate: bathroom fixtures — dated and in need of updating