302 Main St

Highland, WI 53543

$130,000C

4 bd · 1.0 ba · 1,612 sqft · Built — · SingleFamily · Active · 75 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,150/mo
• Mortgage (P&I): −$682
• Tax + insurance: −$198
• HOA: −$0
• Vac / Maint / Mgmt: −$242
• Net cashflow: $29/mo
• Annual: $347/yr
• Cap rate: 6.56%
• Cash-on-cash: 0.95%
• DSCR: 1.04
• 1% rule: 0.88%
• Cash to close: $36,400

Investor read

• This is a 4-bed/1.0-bath single-family listed at $130k.
• At list price, monthly cash flow is $29 ($347/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 $115k (11.5% below list).
• It's been on market 75 days — a 6% lower offer ($122k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $115k (11.5% below list) — sets the bar for 1% rule.
• In year one you build about $10k of equity ($899 loan paydown + $9k appreciation (6.9% local appreciation)).
• Location reads 70/100 on livability (#284 in WI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Highland School District (rural): math 45% / reading 20% proficiency, ranked #353 of 426 in WI (top 83%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 19% free/reduced lunch — higher-income household profile.
• Zoned schools: Highland Community Elementary (math 24% / reading 24%, grade F, #783 of 1,041 statewide, top 79%, 132 students, 34% FRL); Highland Community High (math 50% / reading 50%, grade D, #36 of 483 statewide, top 9%, 105 students, 25% FRL).
• Market conditions: 10 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 72 units permitted in Iowa County in 2024 (0 in 5+ unit buildings).
• Iowa County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $29k; list at $130k implies a 350% gain — meaningful room to come down on a strong offer.
• At projected returns (6.9% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 75 days. Have you received any prior offers? Is the seller open to a 12% 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.