2120 S Riverside Dr #4

Beloit, WI 53511

$33,000B

2 bd · 1.0 ba · 784 sqft · Built 1995 · SingleFamily · Active · 10 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,122/mo
• Mortgage (P&I): −$173
• Tax + insurance: −$55
• HOA: −$0
• Vac / Maint / Mgmt: −$236
• Net cashflow: $659/mo
• Annual: $7,904/yr
• Cap rate: 30.24%
• Cash-on-cash: 85.54%
• DSCR: 4.81
• 1% rule: 3.40%
• Cash to close: $9,240

Investor read

• This is a 2-bed/1.0-bath single-family listed at $33k. Condition is rated fair.
• At list price, monthly cash flow is $659 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $33k).
• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $228 of loan paydown is wiped out by about $990 of value loss. Plan a longer hold.
• Location reads 70/100 on livability (#283 in WI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D, schools F, amenities F.
• Beloit Turner School District (suburban): math 32% / reading 38% proficiency, ranked #216 of 342 in WI (top 63%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+6.0%/yr); 203 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 629 units permitted in Rock County in 2024 (263 in 5+ unit buildings).
• Rock County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 6.0% rent growth), your $9k cash investment doubles in ~2 years — after that, you're playing with house money.
• Cap rate 30.2% vs local median 3.5% in Beloit — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Questions for listing agent

• 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 F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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 replacement
• Moderate: bathroom fixtures — basic and in need of updating
• Moderate: kitchen flooring — dated and in need of replacement
• Moderate: bathroom flooring — dated and in need of replacement