1150 Gale Ct

Wisconsin Dells, WI 53965

$199,900C-

3 bd · 2.0 ba · 1,456 sqft · Built 1987 · Other · Active · 332 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,747/mo
• Mortgage (P&I): −$1,048
• Tax + insurance: −$184
• HOA: −$0
• Vac / Maint / Mgmt: −$367
• Net cashflow: $148/mo
• Annual: $1,777/yr
• Cap rate: 7.18%
• Cash-on-cash: 3.17%
• DSCR: 1.14
• 1% rule: 0.87%
• Cash to close: $55,972

Investor read

• This is a 3-bed/2.0-bath other listed at $200k.
• At list price, monthly cash flow is $148 ($2k/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 $175k (12.6% below list).
• It's been on market 332 days — a 12% lower offer ($176k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $175k (12.6% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 78/100 on livability (#100 in WI, #2,661 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D+, schools D-, commute F.
• Wisconsin Dells School District (town): math 44% / reading 40% proficiency, ranked #135 of 342 in WI (top 40%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 195 active listings in the ZIP; 126 units permitted in Adams County in 2024 (0 in 5+ unit buildings).
• Adams County population projected at -33% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts; this cycle's ask has dropped $90k (31%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Cap rate 7.2% vs local median 1.5% in Wisconsin Dells — 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.
• This rent runs 31% of the median local income ($67k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 332 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-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.