267 N Ridge St

Hustisford, WI 53034

$1F

4 bd · 1.0 ba · 2,340 sqft · Built 1900 · Other · Active · 59 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,492/mo
• Mortgage (P&I): −$1,720
• Tax + insurance: −$547
• HOA: −$0
• Vac / Maint / Mgmt: −$313
• Net cashflow: $-1,088/mo
• Annual: $-13,056/yr
• Cap rate: 2.31%
• Cash-on-cash: -14.22%
• DSCR: 0.37
• 1% rule: 0.45%
• Cash to close: $91,841

Investor read

• This is a 4-bed/1.0-bath other listed at $1.
• At list price, monthly cash flow is $-1k ($-13k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $1).
• It's been on market 59 days — a 3% lower offer ($0) is reasonable based on typical stale-listing flexibility.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Location reads 66/100 on livability (#457 in WI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: amenities F, commute F, health & safety D-.
• Hustisford School District (rural): math 33% / reading 36% proficiency, ranked #312 of 426 in WI (top 73%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: John Hustis Elementary (math 64% / reading 64%, grade B, #55 of 1,041 statewide, top 7%, 130 students, 30% FRL); Hustisford High (math 22% / reading 32%, grade F, #260 of 483 statewide, top 58%, 167 students, 26% FRL).
• Watch-outs: property tax is 492008.0% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 12 active listings in the ZIP; 229 units permitted in Dodge County in 2024 (0 in 5+ unit buildings).
• Dodge County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 59 days. Have you received any prior offers? Is the seller open to a 5% concession, seller financing, or rate buy-down credit?
• 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.
• 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?
• This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
• What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?