E12505 County Rd W

Greenfield, WI 53913

$1,349,000F

None bd · None ba · — sqft · Built — · MultiFamily · Active · 347 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,084/mo
• Mortgage (P&I): −$7,074
• Tax + insurance: −$2,248
• HOA: −$0
• Vac / Maint / Mgmt: −$228
• Net cashflow: $-8,467/mo
• Annual: $-101,600/yr
• Cap rate: -1.24%
• Cash-on-cash: -26.90%
• DSCR: -0.20
• 1% rule: 0.08%
• Cash to close: $377,720

Investor read

• This is a multifamily listed at $1.35M.
• At list price, monthly cash flow is $-8k ($-102k/yr) — negative.
• To cash-flow at today's rent, offer at most $124k (90.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $108k (92.0% below list).
• It's been on market 347 days — a 12% lower offer ($1.19M) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $108k (92.0% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $9k of loan paydown is wiped out by about $40k of value loss. Plan a longer hold.
• Location reads 86/100 on livability (#23 in WI, #361 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+.
• Baraboo School District (town): math 34% / reading 35% proficiency, ranked #232 of 342 in WI (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Al Behrman Elementary (math 42% / reading 32%, grade F, #562 of 1,041 statewide, top 58%, 269 students, 68% FRL); Jack Young Middle (math 26% / reading 32%, grade F, #281 of 383 statewide, top 73%, 599 students, 53% FRL); Baraboo High (math 31% / reading 31%, grade F, #204 of 483 statewide, top 43%, 917 students, 42% FRL).
• Market conditions: 102 active listings in the ZIP; 527 units permitted in Sauk County in 2024 (268 in 5+ unit buildings).
• 8 sale attempts since 3y ago; this cycle's ask has dropped $276k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Cap rate -1.2% vs local median 2.8% in Greenfield — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.
• This rent is only 17% of the median local income ($75k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 347 days. Have you received any prior offers? Is the seller open to a 92% 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.
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.