170 Grouse Ct

Briggsville, WI 53920

$459,000D-

3 bd · 2.0 ba · 1,144 sqft · Built 2016 · Other · Active · 24 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,221/mo
• Mortgage (P&I): −$2,407
• Tax + insurance: −$488
• HOA: −$0
• Vac / Maint / Mgmt: −$677
• Net cashflow: $-350/mo
• Annual: $-4,202/yr
• Cap rate: 5.38%
• Cash-on-cash: -3.27%
• DSCR: 0.85
• 1% rule: 0.70%
• Cash to close: $128,520

Investor read

• This is a 3-bed/2.0-bath other listed at $459k.
• At list price, monthly cash flow is $-350 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $397k (13.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $322k (29.8% below list).
• It's been on market 24 days — a 2% lower offer ($452k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $322k (29.8% below list) — sets the bar for 1% rule.
• In year one you build about $24k of equity ($3k loan paydown + $21k appreciation (4.6% local appreciation)).
• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Wisconsin Dells School District (town): math 44% / reading 40% proficiency, ranked #135 of 342 in WI (top 40%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Wisconsin Dells Middle School (math 42% / reading 44%, grade D-, #112 of 383 statewide, top 30%, 387 students, 54% FRL); Wisconsin Dells High (math 17% / reading 27%, grade F, #349 of 483 statewide, top 75%, 603 students, 48% FRL).
• Market conditions: 5 active listings in the ZIP; 126 units permitted in Adams County in 2024 (0 in 5+ unit buildings).
• Adams County population projected at -33% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 2, paydown + projected appreciation supports a ~$39k 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?
• 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.
• 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.