N3536 21st Dr

Marquette, WI 53949

$49,900B-

3 bd · 1.0 ba · 1,056 sqft · Built 1996 · SingleFamily · Pending · 7 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,018/mo
• Mortgage (P&I): −$262
• Tax + insurance: −$83
• HOA: −$0
• Vac / Maint / Mgmt: −$214
• Net cashflow: $459/mo
• Annual: $5,512/yr
• Cap rate: 17.34%
• Cash-on-cash: 39.45%
• DSCR: 2.76
• 1% rule: 2.04%
• Cash to close: $13,972

Investor read

• This is a 3-bed/1.0-bath single-family listed at $50k. Condition is rated good.
• At list price, monthly cash flow is $459 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• 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 $345 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads 57/100 on livability (#747 in WI) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Montello School District (rural): math 29% / reading 31% proficiency, ranked #280 of 342 in WI (top 82%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Forest Lane Community School (math 52% / reading 42%, grade D-, #319 of 1,041 statewide, top 34%, 268 students, 47% FRL); Montello Junior/Senior High (math 17% / reading 22%, grade F, #385 of 483 statewide, top 82%, 256 students, 46% FRL) — zoned schools at 47% FRL track the district average.
• Market conditions: 81 active listings in the ZIP; 95 units permitted in Marquette County in 2024 (0 in 5+ unit buildings).
• Marquette County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~3 years — after that, you're playing with house money.

Questions for listing agent

• 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?
• 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.