15051 S Thorn Lake Loop Loop

Wascott, WI 54838

$74,900B-

2 bd · 1.0 ba · 1,008 sqft · Built 1976 · Other · Active · 54 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $941/mo
• Mortgage (P&I): −$393
• Tax + insurance: −$65
• HOA: −$0
• Vac / Maint / Mgmt: −$198
• Net cashflow: $285/mo
• Annual: $3,423/yr
• Cap rate: 10.86%
• Cash-on-cash: 16.32%
• DSCR: 1.73
• 1% rule: 1.26%
• Cash to close: $20,972

Investor read

• This is a 2-bed/1.0-bath other listed at $75k.
• At list price, monthly cash flow is $285 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($941 rent vs $75k).
• It's been on market 54 days — a 3% lower offer ($73k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $73k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $518 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Northwood School District (rural): math 30% / reading 25% proficiency, ranked #391 of 426 in WI (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 40 active listings in the ZIP; 110 units permitted in Douglas County in 2024 (0 in 5+ unit buildings).
• Douglas County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 5 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~8 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 54 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1976 — 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.
• 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.