W6150 County Road Site Unit BB-46

Fox Crossing, WI 54914

$92,500B

3 bd · 2.0 ba · 1,216 sqft · Built 2026 · Manufactured · Active · 66 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,365/mo
• Mortgage (P&I): −$485
• Tax + insurance: −$154
• HOA: −$0
• Vac / Maint / Mgmt: −$287
• Net cashflow: $439/mo
• Annual: $5,266/yr
• Cap rate: 11.99%
• Cash-on-cash: 20.33%
• DSCR: 1.90
• 1% rule: 1.48%
• Cash to close: $25,900

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $92k.
• At list price, monthly cash flow is $439 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $92k).
• It's been on market 66 days — a 6% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $87k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $640 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Neenah Joint School District (urban): math 47% / reading 46% proficiency, ranked #72 of 342 in WI (top 21%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+7.8%/yr); 54 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 652 units permitted in Winnebago County in 2024 (333 in 5+ unit buildings).
• Winnebago County population projected at +3% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 7.8% rent growth), your $26k cash investment doubles in ~5 years — after that, you're playing with house money.
• Cap rate 12.0% vs local median 2.5% in Fox Crossing — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Questions for listing agent

• It's been on market 66 days. Have you received any prior offers? Is the seller open to a 6% 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.
• 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.