425 Linde St · DeForest, WI 53532

$245,000

3 bd · 1.0 ba · 1,188 sqft · SingleFamily · 42 Days on market

Built 1959 7,405 sqft lot Est $330k · 26% under

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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 +18.0/30.0
• ARV discount +15.0/15.0
• DSCR +5.6/10.0
• 1% rule +4.9/10.0
• Rent growth +3.9/5.0
• Schools +3.6/10.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Three bedrooms, two on the main level and one on the lower level with an egress window. Also on the lower level is a rec room and laundry. There is a newer detached 2 car garage with access from the alleyway in the back yard. All appliances included but not warranted by the seller. House sold "AS-IS"

Key facts

• Rec room
• Access from alleyway
• Laundry

Tags

• REC ROOM
• LAUNDRY
• DETACHED GARAGE
• ACCESS FROM ALLEYWAY

Property features AI

Exterior

• Parking: Detached 2-car garage with opener included
• Utilities: Municipal water; Municipal sewer
• Home design: Single-family home; One story
• Construction: Finished above grade area (approx. 668); Finished below grade area (approx. 520)
• Exterior features: Vinyl exterior; Full, partially finished block basement; Additional lower-level room (approx. 18 x 7)

Interior

• Kitchen: Range/Oven; Refrigerator
• Bedrooms: Master bedroom on main level (approx. 10 x 10); Second bedroom on main level (approx. 9 x 10); Third bedroom on lower level (approx. 17 x 9)
• Bathrooms: One full bathroom; No master bedroom bath
• Heating & cooling: Forced air heat; Central air; Natural gas
• Interior features: Cable/satellite available; High-speed internet
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $245k.

Deal economics

• At list price, monthly cash flow is $209 ($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 $242k (1.3% below list).
• Recommended offer: $238k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.3% vs local median 2.1% in DeForest — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 72/100 on livability (#244 in WI) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, health & safety F.
• De Forest Area School District (suburban): math 39% / reading 39% proficiency, ranked #133 of 342 in WI (top 39%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 17% free/reduced lunch — higher-income household profile.
• Zoned schools: Eagle Point Elementary (math 42% / reading 32%, grade F, #562 of 1,041 statewide, top 58%, 376 students, 16% FRL); De Forest Middle (math 39% / reading 40%, grade F, #153 of 383 statewide, top 42%, 561 students, 17% FRL); De Forest High (math 31% / reading 38%, grade F, #144 of 483 statewide, top 36%, 1,099 students, 18% FRL) — zoned schools at 17% FRL track the district average.
• Market conditions: Rents rising fast (+5.5%/yr); 114 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 5,519 units permitted in Dane County in 2024 (3,978 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Dane County population projected at +35% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($238k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $185k; 32% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $237,650 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.99% ✗
• Cap rate: 7.31%
• Cash-on-cash: 3.65%
• DSCR: 1.16
• GRM: 8.4

CMA / ARV

• ARV (on-the-fly): $330,264
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
408 Anderson St	0.13mi	3/1.0	1,176 (-1%)	21mo	$327,000	$278	75
404 Anderson St	0.11mi	4/2.0 (+1)	1,113 (-6%)	2mo	$360,000	$323	74
121 E North St	0.34mi	3/1.0	1,144 (-4%)	12mo	$343,000	$300	68
301 Acker Pkwy	0.53mi	3/1.5	1,189 (+0%)	7mo	$330,000	$278	68
433 E Lincoln Dr	0.21mi	3/1.5	1,126 (-5%)	20mo	$315,000	$280	63
441 Yahara St	0.07mi	3/2.0	1,092 (-8%)	22mo	$265,000	$243	61
125 Commerce St	0.35mi	2/1.5 (-1)	1,232 (+4%)	15mo	$310,000	$252	58
464 Dahl Dr	0.32mi	3/2.0	1,339 (+13%)	6mo	$322,000	$240	54
409 Rosemal Ln	0.42mi	3/2.0	1,364 (+15%)	8mo	$461,000	$338	45
414 Cherokee Ct	0.72mi	3/1.5	1,255 (+6%)	19mo	$268,000	$214	39

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 5.49% rent growth · sell at horizon

5-year hold

• IRR: -7.8%
• Equity multiple: 0.71×
• Total profit: $-20,162
• Equity at exit: $36,530

10-year hold

• IRR: 4.7%
• Equity multiple: 1.39×
• Total profit: $26,534
• Equity at exit: $21,183

Cash invested: $68,600 (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 53532

• Rents YoY: 5.5%
• Active inventory: 114
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $2,418 medium
• Mortgage (P&I): −$1,285
• Tax from tax record: −$315 /mo · $3,776/yr
• Insurance: −$102
• HOA: −$0
• Vacancy / Maint / Mgmt: −$508
• Net cashflow: $209

Break-even live

Break-even rent $2,154

Max offer price $245,000

Occupancy floor 86%

Sensitivity live

Price	-10% $347	-5% $278	+0% $209	+5% $139	+10% $70
Rent	-10% $18	-5% $113	+0% $209	+5% $304	+10% $400
Rate	-1.0pp $332	-0.5pp $271	base $209	+0.5pp $145	+1.0pp $81

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: $61,250
• Closing costs: $7,350
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4140 Silo View Dr De Forest, WI	1.0–3.0	1.0–2.0	1090	$2,605	$2.39	16d	6	0.25mi
4664 Arden Ln De Forest, WI	3.0	1.0–2.0	1023	$2,830	$2.77	16d	39	0.37mi
116 Renata Ct Deforest, WI	3.0	2.0	1400	$2,400	$1.71	25d	1	0.64mi
335 Blackberry Ln DeForest, WI	2.0	1.0–2.0	939	$1,795	$1.91	16d	11	0.79mi

Listing history 15 events

1. 2026-06-10
   days on market $245,000 Active 42 DOM
2. 2026-06-09
   days on market $245,000 Active 41 DOM
3. 2026-06-08
   days on market $245,000 Active 40 DOM
4. 2026-06-07
   days on market $245,000 Active 39 DOM
5. 2026-06-05
   days on market $245,000 Active 36 DOM
6. 2026-06-03
   days on market $245,000 Active 35 DOM
7. 2026-06-02
   days on market $245,000 Active 34 DOM
8. 2026-06-01
   days on market $245,000 Active 33 DOM
9. 2026-05-31
   days on market $245,000 Active 32 DOM
10. 2026-05-31
    days on market $245,000 Active 31 DOM
11. 2026-04-28
    listed $245,000 Active
12. 2019-11-13
    soldstatus $185,000
13. 2017-08-28
    soldstatus $159,900
14. 2004-08-09
    soldstatus $123,000
15. 2000-04-21
    soldstatus $89,000

ⓘ 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: $3,776 · $315/mo
• Projected year-2 tax: $4,154 · $346/mo
• Expected delta: +$378/yr (+$32/mo · 10.0%)

ⓘ 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 2/10 Low 7 d/yr ≥99°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,015
• − Mortgage interest: −$13,724
• − Property taxes: −$3,776
• − Insurance: −$1,225
• − Repairs & maintenance: −$2,321
• − Management: −$2,321
• − Depreciation: −$7,127
• Taxable loss: −$1,479
• Est. tax savings @ 24.0%: +$355
• After-tax cash flow: $2,859/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: De Forest Area School District
• NCES district ID: 5503180
• Math proficiency: 39% ▼ -3.00%
• Reading proficiency: 39% ▼ -7.00%
• Median HH income: $76,811
• Composite: 36.23/100
• National rank: #4722
• State rank: #133 of 342 in WI

Livability — DeForest

• Score: 72/100
• State rank: #244
• US rank: #6371

Category grades

Amenities F Commute F Cost of living B+ Crime A+ Employment A+ Housing A+ Health & safety F User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: DeForest, WI
• County: Dane County · 506,461 people
• City population: 16,286
• Metro: Madison, WI
• Population (ZIP): 16,514
• Household income: $110,022
• Rent vs Own: 19.1% rent · 80.9% own
• Severe rent burden: 191.0

Population outlook (Dane County) Hauer SSP2

• Today (2025): 610,707 people
• By 2030: 654,875 · +7.2%
• By 2040: 740,480 · +21.2%
• By 2050: 826,188 · +35.3%
• By 2075: 1,040,574 · +70.4%
• By 2100: 1,168,084 · +91.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Two or more races 10% Hispanic / Latino 7% Asian 2% Black 2%
• Hispanic origin (detail): Mexican 4% Puerto Rican 2%
• Common ancestry: Portuguese 11% Romanian 5% Lithuanian 3%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 2% Other Indo-European 1% Other Asian/Pacific 1%

Political lean MEDSL · Dane

• 2024 margin: Solid D (+51.7) · D 75.1% · R 23.4% · Other 1.5%
• 2008→2024 swing: +4.7pp toward D · 2008: 47.0pp · 2024: 51.7pp
• All cycles: 2024: D+51.7 2020: D+52.6 2016: D+48.0 2012: D+43.6 2008: D+47.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -269.12%
• Current HPI: 278.6937
• Rent YoY: ▲ 5.49%
• Metro: Madison, WI
• 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

+175.3% since first listed

5 events — show timeline

• 2026-04-28 Listed $245,000 SCWMLS
• 2019-11-13 Sold (Public Records) $185,000 Public Records
• 2017-08-28 Sold (Public Records) $159,900 Public Records
• 2004-08-09 Sold (Public Records) $123,000 Public Records
• 2000-04-21 Sold (Public Records) $89,000 Public Records

Property tax history

+6.4%/yr

Latest (2025): $3,776 · +6.8% YoY. Source: county tax records.