N5121 36th Dr · Bloomfield, WI 54940

$260,000

3 bd · 1.0 ba · 1,441 sqft · SingleFamily · 64 Days on market

Built 1964 0.74 ac lot $180/sqft · 6% below area Est $277k · 6% under ↓ 13% since listing

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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 +19.7/30.0
• ARV discount +10.3/15.0
• DSCR +6.2/10.0
• 1% rule +4.9/10.0
• Schools +3.6/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Looking for your next getaway or forever home near Lake Poygan? This spacious 3 bedroom, 1 bath home offers approx. 1,441 finished sq ft with a flexible layout and bonus room, perfect for a home office, guest space, or creative retreat. Enjoy an attached garage plus two detached garages for all your storage and recreational needs. Set at the end of the Lake Poygan channel with approx. 200 ft of channel frontage, the setting is ideal for fishing, relaxing, and taking in peaceful water views. Whether it?s your year-round home or the cottage you?ve been dreaming of, this property is full of potential and ready for your personal touch. come see it for yourself. Buyer to verify measurements and water access/usage rights. (Please allow 48-hours for binding acceptance. )

Key facts

• Attached garage
• Private drilled well
• Flexible layout

Tags

• FLEXIBLE LAYOUT
• BONUS ROOM
• ATTACHED GARAGE
• DETACHED GARAGES
• PRIVATE DRILLED WELL
• MUNICIPAL SEWER

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $260k.

Deal economics

• At list price, monthly cash flow is $305 ($4k/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 $258k (0.9% below list).
• Recommended offer: $244k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.7% vs local median 5.5% in Bloomfield — 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 64/100 on livability (#577 in WI) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Weyauwega-Fremont School District (rural): math 40% / reading 42% proficiency, ranked #140 of 342 in WI (top 41%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 13 active listings in the ZIP; 127 units permitted in Waushara County in 2024 (15 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 $8k of value loss. Plan a longer hold.
• Waushara County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 64 days — a 6% lower offer ($244k) is reasonable based on typical stale-listing flexibility.

Recommended offer $244,400 (6.0% below list)

Questions for the listing agent

1. It's been on market 64 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 7.70%
• Cash-on-cash: 5.03%
• DSCR: 1.22
• GRM: 8.4

CMA / ARV

• ARV (median comp): $277,256
• List price: $260,000
• Delta: -6.22%
• Verdict: FAIR
• Comps: 9 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
N5080 Center St	0.25mi	2/2.0 (-1)	1,272 (-12%)	22mo	$450,000	$354	42

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -8.5%
• Equity multiple: 0.69×
• Total profit: $-22,694
• Equity at exit: $38,767

10-year hold

• IRR: 1.0%
• Equity multiple: 1.07×
• Total profit: $5,260
• Equity at exit: $22,480

Cash invested: $72,800 (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 54940

• Home prices YoY: -28.9%
• Active inventory: 13
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $2,576 medium
• Mortgage (P&I): −$1,363
• Tax from tax record: −$258 /mo · $3,095/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$541
• Net cashflow: $305

Break-even live

Break-even rent $2,190

Max offer price $260,000

Occupancy floor 83%

Sensitivity live

Price	-10% $452	-5% $379	+0% $305	+5% $232	+10% $158
Rent	-10% $102	-5% $203	+0% $305	+5% $407	+10% $509
Rate	-1.0pp $436	-0.5pp $371	base $305	+0.5pp $238	+1.0pp $169

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: $65,000
• Closing costs: $7,800
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-21
   days on market $260,000 Active 64 DOM
2. 2026-06-18
   days on market $260,000 Active 62 DOM
3. 2026-06-17
   days on market $260,000 Active 61 DOM
4. 2026-06-16
   days on market $260,000 Active 60 DOM
5. 2026-06-15
   days on market $260,000 Active 59 DOM
6. 2026-06-15
   days on market $260,000 Active 58 DOM
7. 2026-06-13
   days on market $260,000 Active 57 DOM
8. 2026-06-12
   days on market $260,000 Active 56 DOM
9. 2026-06-09
   days on market $260,000 Active 53 DOM
10. 2026-06-08
    days on market $260,000 Active 52 DOM
11. 2026-06-08
    days on market $260,000 Active 51 DOM
12. 2026-06-07
    days on market $260,000 Active 50 DOM
13. 2026-06-04
    days on market $260,000 Active 48 DOM
14. 2026-06-03
    days on market $260,000 Active 47 DOM
15. 2026-06-02
    days on market $260,000 Active 46 DOM
16. 2026-06-01
    days on market $260,000 Active 45 DOM
17. 2026-05-31
    days on market $260,000 Active 44 DOM
18. 2026-05-14
    price $260,000 774-char remark

    Show marketing remark (774 chars)

    Looking for your next getaway or forever home near Lake Poygan? This spacious 3 bedroom, 1 bath home offers approx. 1,441 finished sq ft with a flexible layout and bonus room, perfect for a home office, guest space, or creative retreat. Enjoy an attached garage plus two detached garages for all your storage and recreational needs. Set at the end of the Lake Poygan channel with approx. 200 ft of channel frontage, the setting is ideal for fishing, relaxing, and taking in peaceful water views. Whether it?s your year-round home or the cottage you?ve been dreaming of, this property is full of potential and ready for your personal touch. come see it for yourself. Buyer to verify measurements and water access/usage rights. (Please allow 48-hours for binding acceptance. )

19. 2026-04-16
    listed $300,000 Active 774-char remark

    Show marketing remark (774 chars)

    Looking for your next getaway or forever home near Lake Poygan? This spacious 3 bedroom, 1 bath home offers approx. 1,441 finished sq ft with a flexible layout and bonus room, perfect for a home office, guest space, or creative retreat. Enjoy an attached garage plus two detached garages for all your storage and recreational needs. Set at the end of the Lake Poygan channel with approx. 200 ft of channel frontage, the setting is ideal for fishing, relaxing, and taking in peaceful water views. Whether it?s your year-round home or the cottage you?ve been dreaming of, this property is full of potential and ready for your personal touch. come see it for yourself. Buyer to verify measurements and water access/usage rights. (Please allow 48-hours for binding acceptance. )

ⓘ 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: $3,095 · $258/mo
• Projected year-2 tax: $3,952 · $329/mo
• Expected delta: +$858/yr (+$71/mo · 27.7%)

ⓘ 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 ≥98°F today · 12 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,910
• − Mortgage interest: −$14,564
• − Property taxes: −$3,095
• − Insurance: −$1,300
• − Repairs & maintenance: −$2,473
• − Management: −$2,473
• − Depreciation: −$7,564
• Taxable loss: −$558
• Est. tax savings @ 24.0%: +$134
• After-tax cash flow: $3,797/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: Weyauwega-Fremont School District
• NCES district ID: 5516500
• Math proficiency: 40% ▼ -6.00%
• Reading proficiency: 42% ▼ -4.00%
• Median HH income: $52,635
• Composite: 35.58/100
• National rank: #4898
• State rank: #140 of 342 in WI

Livability — Bloomfield

• Score: 64/100
• State rank: #577
• US rank: #14821

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Tustin, WI
• City population: 8,985
• Population (ZIP): 4,502

Population outlook (Waushara County) Hauer SSP2

• Today (2025): 22,669 people
• By 2030: 21,697 · -4.3%
• By 2040: 19,329 · -14.7%
• By 2050: 17,051 · -24.8%
• By 2075: 13,928 · -38.6%
• By 2100: 11,483 · -49.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 5% Hispanic / Latino 3% Asian 1%
• Common ancestry: Romanian 5% Iranian 5% Portuguese 4%
• Foreign-born: 1% · Canada
• Languages at home: 96% English-only · Spanish 2% Other Asian/Pacific 1%

Political lean MEDSL · Waushara

• 2024 margin: Solid R (+35.2) · D 31.8% · R 67.0% · Other 1.1%
• 2008→2024 swing: -36.0pp toward R · 2008: 0.8pp · 2024: -35.2pp
• All cycles: 2024: R+35.2 2020: R+34.1 2016: R+32.3 2012: R+10.2 2008: D+0.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -87.68%
• Current HPI: 215.324
• 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

-13.3% since first listed

2 events — show timeline

• 2026-05-14 Price Changed $260,000 RANW
• 2026-04-16 Listed $300,000 RANW

Property tax history

+3.6%/yr

Latest (2024): $3,095 · +4.4% YoY. Source: county tax records.