4425 Hwy 32

Laona, WI 54541

$35,000B+

1 bd · None ba · 462 sqft · Built — · Other · Active · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $777/mo
• Mortgage (P&I): −$184
• Tax + insurance: −$30
• HOA: −$0
• Vac / Maint / Mgmt: −$163
• Net cashflow: $400/mo
• Annual: $4,800/yr
• Cap rate: 20.01%
• Cash-on-cash: 48.98%
• DSCR: 3.18
• 1% rule: 2.22%
• Cash to close: $9,800

Investor read

• This is a 1-bed/?-bath other listed at $35k.
• At list price, monthly cash flow is $400 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($777 rent vs $35k).
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $3k of equity ($242 loan paydown + $3k appreciation (7.9% local appreciation)).
• Location reads 67/100 on livability (#427 in WI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: schools C-, crime C-, amenities F.
• Laona School District (rural): math 50% / reading 45% proficiency, ranked #154 of 426 in WI (top 36%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 14 active listings in the ZIP; 69 units permitted in Forest County in 2024 (0 in 5+ unit buildings).
• Forest County population projected at -28% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 5y ago 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.
• Current owner paid $22k; list at $35k implies a 59% gain — meaningful room to come down on a strong offer.
• At projected returns (7.9% appreciation + 3.0% rent growth), your $10k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• 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.