516 Grand Ave

Hawkins, WI 54530

$59,000B+

1 bd · 1.0 ba · 696 sqft · Built 1500 · SingleFamily · Active · 37 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $801/mo
• Mortgage (P&I): −$309
• Tax + insurance: −$36
• HOA: −$0
• Vac / Maint / Mgmt: −$168
• Net cashflow: $287/mo
• Annual: $3,440/yr
• Cap rate: 12.12%
• Cash-on-cash: 20.82%
• DSCR: 1.93
• 1% rule: 1.36%
• Cash to close: $16,520

Investor read

• This is a 1-bed/1.0-bath single-family listed at $59k.
• At list price, monthly cash flow is $287 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($801 rent vs $59k).
• It's been on market 37 days — a 3% lower offer ($57k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $57k (3.0% below list) — sets the bar for market timing.
• In year one you build about $984 of equity ($408 loan paydown + $576 appreciation (1.0% local appreciation)).
• Location reads 64/100 on livability (#547 in WI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A; Watch: crime D+, employment D, health & safety D.
• Flambeau School District (rural): math 21% / reading 26% proficiency, ranked #323 of 342 in WI (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Watch-outs: built in 1500 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 7 active listings in the ZIP; 90 units permitted in Rusk County in 2024 (0 in 5+ unit buildings).
• Rusk County population projected at -29% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (1.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~4 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1500 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.