3488 N Church St

Packwaukee, WI 53949

$69,995B-

2 bd · 1.0 ba · 776 sqft · Built 1900 · SingleFamily · Pending · 29 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $843/mo
• Mortgage (P&I): −$367
• Tax + insurance: −$117
• HOA: −$0
• Vac / Maint / Mgmt: −$177
• Net cashflow: $182/mo
• Annual: $2,186/yr
• Cap rate: 9.42%
• Cash-on-cash: 11.16%
• DSCR: 1.50
• 1% rule: 1.20%
• Cash to close: $19,599

Investor read

• This is a 2-bed/1.0-bath single-family listed at $70k. Condition is rated fair.
• At list price, monthly cash flow is $182 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($843 rent vs $70k).
• It's been on market 29 days — a 2% lower offer ($69k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $69k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $484 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 65/100 on livability (#520 in WI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D+, health & safety D, amenities F.
• Montello School District (rural): math 29% / reading 31% proficiency, ranked #280 of 342 in WI (top 82%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Forest Lane Community School (math 52% / reading 42%, grade D-, #319 of 1,041 statewide, top 34%, 268 students, 47% FRL); Montello Junior/Senior High (math 17% / reading 22%, grade F, #385 of 483 statewide, top 82%, 256 students, 46% FRL) — zoned schools at 47% FRL track the district average.
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 81 active listings in the ZIP; 95 units permitted in Marquette County in 2024 (0 in 5+ unit buildings).
• Marquette County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~10 years — after that, you're playing with house money.

Questions for listing agent

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1900 — 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.
• Schools are F-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.

Repairs flagged (vision-AI assessment)

• Moderate: Siding — Weathered and discolored
• Minor: Landscaping — Sparse and overgrown