106 Main St

Gays Mills, WI 54631

$80,000B+

2 bd · 1.0 ba · 1,144 sqft · Built 1915 · Other · Active · 161 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,002/mo
• Mortgage (P&I): −$420
• Tax + insurance: −$124
• HOA: −$0
• Vac / Maint / Mgmt: −$210
• Net cashflow: $248/mo
• Annual: $2,977/yr
• Cap rate: 10.01%
• Cash-on-cash: 13.29%
• DSCR: 1.59
• 1% rule: 1.25%
• Cash to close: $22,400

Investor read

• This is a 2-bed/1.0-bath other listed at $80k.
• At list price, monthly cash flow is $248 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• It's been on market 161 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($553 loan paydown + $2k appreciation (2.2% local appreciation)).
• Location reads 59/100 on livability (#725 in WI) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime C-, schools D, health & safety D.
• North Crawford School District (rural): math 29% / reading 31% proficiency, ranked #285 of 342 in WI (top 83%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 8 active listings in the ZIP; 40 units permitted in Crawford County in 2024 (0 in 5+ unit buildings).
• Crawford County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 4y ago 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.
• At projected returns (2.2% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~4 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 161 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• 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.