701 Memory Ln

Wabeno, WI 54566

$79,900B

3 bd · 1.5 ba · 1,008 sqft · Built 1972 · Other · Active · 37 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $956/mo
• Mortgage (P&I): −$419
• Tax + insurance: −$62
• HOA: −$0
• Vac / Maint / Mgmt: −$201
• Net cashflow: $274/mo
• Annual: $3,288/yr
• Cap rate: 10.41%
• Cash-on-cash: 14.70%
• DSCR: 1.65
• 1% rule: 1.20%
• Cash to close: $22,372

Investor read

• This is a 3-bed/1.5-bath other listed at $80k.
• At list price, monthly cash flow is $274 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($956 rent vs $80k).
• It's been on market 37 days — a 3% lower offer ($78k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $78k (3.0% below list) — sets the bar for market timing.
• In year one you build about $9k of equity ($552 loan paydown + $8k appreciation (10.0% local appreciation)).
• Location reads 64/100 on livability (#530 in WI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing B; Watch: crime D+, schools F, amenities F.
• Wabeno Area School District (rural): math 20% / reading 20% proficiency, ranked #412 of 426 in WI (top 97%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 15 active listings in the ZIP; 69 units permitted in Forest County in 2024 (0 in 5+ unit buildings).
• Forest County population projected at -28% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $18k; list at $80k implies a 357% gain — meaningful room to come down on a strong offer.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1972 — 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.
• 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.