226 S Grant St

Ellsworth, WI 54011

$109,900C-

1 bd · None ba · 1,452 sqft · Built 1945 · SingleFamily · Active · 7 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,139/mo
• Mortgage (P&I): −$576
• Tax + insurance: −$172
• HOA: −$0
• Vac / Maint / Mgmt: −$239
• Net cashflow: $152/mo
• Annual: $1,819/yr
• Cap rate: 7.95%
• Cash-on-cash: 5.91%
• DSCR: 1.26
• 1% rule: 1.04%
• Cash to close: $30,772

Investor read

• This is a 1-bed/?-bath single-family listed at $110k.
• At list price, monthly cash flow is $152 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $760 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 72/100 on livability (#237 in WI) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Ellsworth Community School District (town): math 44% / reading 43% proficiency, ranked #98 of 342 in WI (top 29%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 20% free/reduced lunch — higher-income household profile.
• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 37 active listings in the ZIP; 191 units permitted in Pierce County in 2024 (0 in 5+ unit buildings).
• Pierce County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 9 sale attempts since 21y 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.
• Current owner paid $75k; 47% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Questions for listing agent

• Built in 1945 — 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.
• 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.