N8879 Dickerson Ave

Foster, WI 54493

$218,000D-

2 bd · 1.0 ba · 1,060 sqft · Built 1979 · Other · Active · 64 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,072/mo
• Mortgage (P&I): −$1,143
• Tax + insurance: −$222
• HOA: −$0
• Vac / Maint / Mgmt: −$225
• Net cashflow: $-518/mo
• Annual: $-6,222/yr
• Cap rate: 3.44%
• Cash-on-cash: -10.19%
• DSCR: 0.55
• 1% rule: 0.49%
• Cash to close: $61,040

Investor read

• This is a 2-bed/1.0-bath other listed at $218k.
• At list price, monthly cash flow is $-518 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $126k (42.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $107k (50.8% below list).
• It's been on market 64 days — a 6% lower offer ($205k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $107k (50.8% below list) — sets the bar for 1% rule.
• In year one you build about $19k of equity ($2k loan paydown + $18k appreciation (8.2% local appreciation)).
• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Osseo-Fairchild School District (rural): math 40% / reading 38% proficiency, ranked #170 of 342 in WI (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 7 active listings in the ZIP; 76 units permitted in Clark County in 2024 (0 in 5+ unit buildings).
• Clark County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• By year 2, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 64 days. Have you received any prior offers? Is the seller open to a 51% concession, seller financing, or rate buy-down credit?
• Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.