N2669 Ten Crossing Rd

Ogema, WI 54459

$264,900D-

3 bd · 1.0 ba · 1,286 sqft · Built 2014 · Other · Active · 34 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,169/mo
• Mortgage (P&I): −$1,389
• Tax + insurance: −$237
• HOA: −$0
• Vac / Maint / Mgmt: −$245
• Net cashflow: $-703/mo
• Annual: $-8,437/yr
• Cap rate: 3.11%
• Cash-on-cash: -11.37%
• DSCR: 0.49
• 1% rule: 0.44%
• Cash to close: $74,172

Investor read

• This is a 3-bed/1.0-bath other listed at $265k.
• At list price, monthly cash flow is $-703 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $141k (46.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $117k (55.9% below list).
• It's been on market 34 days — a 3% lower offer ($257k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $117k (55.9% below list) — sets the bar for 1% rule.
• In year one you build about $17k of equity ($2k loan paydown + $15k appreciation (5.7% local appreciation)).
• Location reads 66/100 on livability (#487 in WI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B+; Watch: crime C-, health & safety D, amenities F.
• Prentice School District (rural): math 40% / reading 35% proficiency, ranked #299 of 426 in WI (top 70%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Prentice Elementary (math 54% / reading 44%, grade D, #257 of 1,041 statewide, top 30%, 128 students, 64% FRL); Prentice Middle (math 37% / reading 37%, grade F, #175 of 383 statewide, top 48%, 103 students, 50% FRL); Prentice High (math 30% / reading 30%, grade F, #208 of 483 statewide, top 46%, 117 students, 43% FRL) — zoned schools average 52% FRL vs 33% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 24 active listings in the ZIP; 47 units permitted in Price County in 2024 (0 in 5+ unit buildings).
• Price County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $65k; list at $265k implies a 308% gain — meaningful room to come down on a strong offer.
• By year 3, paydown + projected appreciation supports a ~$42k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

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 34 days. Have you received any prior offers? Is the seller open to a 56% concession, seller financing, or rate buy-down credit?
• 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.
• 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.