310 235th St · Farmington, WI 54020

$193,000

3 bd · 1.0 ba · 1,352 sqft · SingleFamily · 24 Days on market

Built 1960 8,712 sqft lot $40/mo HOA · 2% of rent

---

Why this score? — see what drove the C- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +20.2/30.0
• ARV discount +7.5/15.0
• DSCR +6.4/10.0
• 1% rule +4.7/10.0
• Schools +4.4/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Coming soon in East Farmington! Tucked away in a one-of-a-kind neighborhood in Osceola is this 3 bed 1 bath open concept home offers comfortable living with functional layout. recent updates include furnace and central air and insulated foundation in 2023. Attic also has blown insulation. Fiber optic internet available and 1 car heated attached garage add more value and convenience. Enjoy the fenced in back yard- perfect for pets, play or entertaining. More photos coming soon

Key facts

• 8,712 sq ft lot
• Garage
• Built 1960

Property features AI

Finance

• HOA & community: Country Village association; Monthly HOA fee of $40 covering water, sewer, snow removal and shared amenities

Exterior

• Parking: Attached garage (1 car) — approximately 12x26
• Utilities: Shared water system; Shared septic; Propane fuel; Electric service with circuit breakers
• Home design: Residential property; One-level home; Main entry on main level; No internal stairs
• Construction: Slab foundation; Foundation dimensions approximately 52x26; Roof older than 8 years
• Exterior features: Vinyl exterior; Lot roughly 0.2 acres (95x90); County road frontage; Association-maintained road

Interior

• Kitchen: Kitchen on main level (11x20); Range; Refrigerator
• Bedrooms: 3 bedrooms, all on the main level (14x10; 10x11; 10x11)
• Bathrooms: One full bathroom on the main floor
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: All living facilities on one level; Main floor laundry; No basement
• Laundry & utility: Washer; Dryer; Main level laundry

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $193k.

Deal economics

• At list price, monthly cash flow is $245 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $188k (2.8% below list).
• Recommended offer: $188k (2.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Osceola School District (rural): math 54% / reading 46% proficiency, ranked #51 of 342 in WI (top 15%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 32 active listings in the ZIP; 238 units permitted in Polk County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Polk County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($190k) is reasonable based on typical stale-listing flexibility.

Recommended offer $187,616 (2.8% below list)

Questions for the listing agent

1. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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.

Investment metrics

• 1% rule: 0.97% ✗
• Cap rate: 7.82%
• Cash-on-cash: 5.44%
• DSCR: 1.24
• GRM: 8.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -7.9%
• Equity multiple: 0.71×
• Total profit: $-15,694
• Equity at exit: $28,777

10-year hold

• IRR: 1.6%
• Equity multiple: 1.12×
• Total profit: $6,309
• Equity at exit: $16,687

Cash invested: $54,040 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 73 Landlord-Friendly
• State Wisconsin: 73 Landlord-Friendly · R+2
• County: — inherits STATE
• City: — inherits STATE

5-day notice; preempted; Madison / Milwaukee have some local enforcement.

Methodology + full state rankings →

ZIP-level market 54020

• Home prices YoY: -33.5%
• Active inventory: 32
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,876 medium
• Mortgage (P&I): −$1,012
• Tax from tax record: −$105 /mo · $1,254/yr
• Insurance: −$80
• HOA: −$40
• Vacancy / Maint / Mgmt: −$394
• Net cashflow: $245

Break-even live

Break-even rent $1,566

Max offer price $193,000

Occupancy floor 82%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $48,250
• Closing costs: $5,790
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $40 · $480/yr
• Likely covers: internet

Listing history 15 events

1. 2026-06-18
   days on market $193,000 Active 24 DOM
2. 2026-06-17
   days on market $193,000 Active 23 DOM
3. 2026-06-16
   days on market $193,000 Active 22 DOM
4. 2026-06-15
   pricedays on market $193,000 Active 21 DOM
5. 2026-06-13
   days on market $200,000 Active 19 DOM
6. 2026-06-09
   days on market $200,000 Active 15 DOM
7. 2026-06-08
   days on market $200,000 Active 14 DOM
8. 2026-06-07
   days on market $200,000 Active 13 DOM
9. 2026-06-04
   days on market $200,000 Active 10 DOM
10. 2026-06-03
    days on market $200,000 Active 9 DOM
11. 2026-06-02
    days on market $200,000 Active 8 DOM
12. 2026-06-01
    days on market $200,000 Active 7 DOM
13. 2026-05-31
    days on market $200,000 Active 6 DOM
14. 2026-05-21
    historical $200,000 481-char remark

    Show marketing remark (481 chars)

    Coming soon in East Farmington! Tucked away in a one-of-a-kind neighborhood in Osceola is this 3 bed 1 bath open concept home offers comfortable living with functional layout. recent updates include furnace and central air and insulated foundation in 2023. Attic also has blown insulation. Fiber optic internet available and 1 car heated attached garage add more value and convenience. Enjoy the fenced in back yard- perfect for pets, play or entertaining. More photos coming soon

15. 2026-05-21
    historical $200,000 481-char remark

    Show marketing remark (481 chars)

    Coming soon in East Farmington! Tucked away in a one-of-a-kind neighborhood in Osceola is this 3 bed 1 bath open concept home offers comfortable living with functional layout. recent updates include furnace and central air and insulated foundation in 2023. Attic also has blown insulation. Fiber optic internet available and 1 car heated attached garage add more value and convenience. Enjoy the fenced in back yard- perfect for pets, play or entertaining. More photos coming soon

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast WI · Partial reset (capped growth)

• Current annual tax: $1,254 · $105/mo
• Projected year-2 tax: $2,412 · $201/mo
• Expected delta: +$1,158/yr (+$97/mo · 92.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥99°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,514
• − Mortgage interest: −$10,811
• − Property taxes: −$1,254
• − Insurance: −$965
• − Repairs & maintenance: −$1,801
• − Management: −$1,801
• − HOA: −$480
• − Depreciation: −$5,615
• Taxable loss: −$213
• Est. tax savings @ 24.0%: +$51
• After-tax cash flow: $2,992/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Osceola School District
• NCES district ID: 5511160
• Math proficiency: 54% ▼ -5.00%
• Reading proficiency: 46% ▼ -6.00%
• Median HH income: $61,118
• Composite: 43.89/100
• National rank: #2917
• State rank: #51 of 342 in WI

Livability — Farmington

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 7,729

Population outlook (Polk County) Hauer SSP2

• Today (2025): 41,581 people
• By 2030: 40,019 · -3.8%
• By 2040: 36,152 · -13.1%
• By 2050: 31,823 · -23.5%
• By 2075: 24,193 · -41.8%
• By 2100: 18,586 · -55.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Portuguese 14% Lithuanian 6% Scottish 3%
• Foreign-born: 0%

Political lean MEDSL · Polk

• 2024 margin: Solid R (+30.9) · D 33.9% · R 64.8% · Other 1.2%
• 2008→2024 swing: -29.1pp toward R · 2008: -1.8pp · 2024: -30.9pp
• All cycles: 2024: R+30.9 2020: R+27.5 2016: R+27.8 2012: R+9.0 2008: R+1.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -105.06%
• Current HPI: 208.8574
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.10%
• F500 in state: 20

Industry mix (Fortune 500 HQ in WI)

Industry	F500 HQs	Revenue
▸Industrial Machinery	4	$23B
▸Industrial Technology	2	$36B
▸Insurance	1	$36B
▸Professional Services	1	$19B
▸Utilities	1	$9B
▸Consumer Goods	1	$3B

Price history

+0.0% since first listed

2 events — show timeline

• 2026-05-21 Coming Soon $200,000 WWRA
• 2026-05-21 Coming Soon $200,000 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+4.2%/yr

Latest (2025): $1,254 · +0.6% YoY. Source: county tax records.