16682-90 96th Ave #2

Anson, WI 54729

$297,500D

4 bd · 4.0 ba · 2,088 sqft · Built 1979 · MultiFamily · Active · 38 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,576/mo
• Mortgage (P&I): −$1,560
• Tax + insurance: −$496
• HOA: −$0
• Vac / Maint / Mgmt: −$541
• Net cashflow: $-21/mo
• Annual: $-251/yr
• Cap rate: 6.21%
• Cash-on-cash: -0.30%
• DSCR: 0.99
• 1% rule: 0.87%
• Cash to close: $83,300

Investor read

• This is a 2 × 2-bed/1.5-bath units multifamily listed at $298k. Condition is rated good.
• At list price, monthly cash flow is $-21 ($-251/yr) — negative. Per door: $-10/mo.
• To cash-flow at today's rent, offer at most $294k (1.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $258k (13.4% below list).
• It's been on market 38 days — a 3% lower offer ($289k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $258k (13.4% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Chippewa Falls Area Unified School District (suburban): math 39% / reading 39% proficiency, ranked #165 of 342 in WI (top 48%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Chippewa Falls Middle (math 29% / reading 38%, grade F, #227 of 383 statewide, top 59%, 1,064 students, 39% FRL); Chippewa Falls High (math 26% / reading 42%, grade F, #177 of 483 statewide, top 37%, 1,458 students, 33% FRL) — zoned schools at 36% FRL track the district average.
• Market conditions: Rents rising (+1.9%/yr); 169 active listings in the ZIP; solid renter incomes; 368 units permitted in Chippewa County in 2024 (142 in 5+ unit buildings).
• Chippewa County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• This rent runs 41% of the median local income ($76k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 38 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• 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.