N2866 State Highway 73

Pine Valley, WI 54456

$122,500C

5 bd · 1.0 ba · 1,587 sqft · Built 1919 · SingleFamily · Active · 165 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,183/mo
• Mortgage (P&I): −$642
• Tax + insurance: −$145
• HOA: −$0
• Vac / Maint / Mgmt: −$249
• Net cashflow: $148/mo
• Annual: $1,772/yr
• Cap rate: 7.74%
• Cash-on-cash: 5.17%
• DSCR: 1.23
• 1% rule: 0.97%
• Cash to close: $34,300

Investor read

• This is a 5-bed/1.0-bath single-family listed at $122k.
• At list price, monthly cash flow is $148 ($2k/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 $118k (3.4% below list).
• It's been on market 165 days — a 12% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $108k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $847 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Neillsville School District (rural): math 29% / reading 26% proficiency, ranked #297 of 342 in WI (top 87%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Watch-outs: built in 1919 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 68 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.
• 2 sale attempts; this cycle's ask has dropped $8k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $40k; list at $122k implies a 206% gain — meaningful room to come down on a strong offer.

Questions for listing agent

• It's been on market 165 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1919 — 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.
• 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.