560 W 21st St #114

Monroe, WI 53566

$70,000B

2 bd · 1.0 ba · 980 sqft · Built 1993 · SingleFamily · Active · 36 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,050/mo
• Mortgage (P&I): −$367
• Tax + insurance: −$117
• HOA: −$0
• Vac / Maint / Mgmt: −$220
• Net cashflow: $346/mo
• Annual: $4,149/yr
• Cap rate: 12.22%
• Cash-on-cash: 21.17%
• DSCR: 1.94
• 1% rule: 1.50%
• Cash to close: $19,600

Investor read

• This is a 2-bed/1.0-bath single-family listed at $70k. Condition is rated good.
• At list price, monthly cash flow is $346 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• It's been on market 36 days — a 3% lower offer ($68k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $68k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $484 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 84/100 on livability (#32 in WI, #627 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: commute F.
• Monroe School District (town): math 36% / reading 36% proficiency, ranked #215 of 342 in WI (top 63%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Monroe High (math 27% / reading 32%, grade F, #228 of 483 statewide, top 52%, 729 students, 37% FRL) — zoned schools at 37% FRL track the district average.
• Market conditions: 132 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 62 units permitted in Green County in 2024 (0 in 5+ unit buildings).
• Green County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~6 years — after that, you're playing with house money.
• Cap rate 12.2% vs local median 2.7% in Monroe — 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.

Questions for listing agent

• It's been on market 36 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.

Repairs flagged (vision-AI assessment)

• Minor: Paint — Paint appears faded in some areas
• Minor: Landscaping — Some overgrown areas