Lot 119 N 8th St

Avoca, WI 53506

$43,900B+

3 bd · 2.0 ba · 1,120 sqft · Built 1978 · SingleFamily · Pending · 106 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,089/mo
• Mortgage (P&I): −$230
• Tax + insurance: −$73
• HOA: −$0
• Vac / Maint / Mgmt: −$229
• Net cashflow: $557/mo
• Annual: $6,685/yr
• Cap rate: 21.52%
• Cash-on-cash: 54.39%
• DSCR: 3.42
• 1% rule: 2.48%
• Cash to close: $12,292

Investor read

• This is a 3-bed/2.0-bath single-family listed at $44k. Condition is rated fair.
• At list price, monthly cash flow is $557 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $44k).
• It's been on market 106 days — a 9% lower offer ($40k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $40k (9.0% below list) — sets the bar for market timing.
• In year one you build about $5k of equity ($304 loan paydown + $4k appreciation (10.0% local appreciation)).
• Location reads 66/100 on livability (#479 in WI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, crime D+, schools F.
• Riverdale School District (rural): math 37% / reading 35% proficiency, ranked #222 of 342 in WI (top 65%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 8 active listings in the ZIP; 72 units permitted in Iowa County in 2024 (0 in 5+ unit buildings).
• Iowa County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $12k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 106 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1978 — 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 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.

Repairs flagged (vision-AI assessment)

• Major: roof — The independent image shows a steel roof, but the listing photos show a different roof style.
• Major: exterior siding and paint — The independent image shows siding and paint that appear worn and faded.
• Major: landscaping — The independent image shows a lot with trees and no landscaping, but the listing photos show a dirt lot with minimal vegetation.