1037 Dewey St

Cassville, WI 53806

$109,900B-

3 bd · 1.0 ba · 1,386 sqft · Built 1950 · Other · Pending · 37 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,160/mo
• Mortgage (P&I): −$576
• Tax + insurance: −$176
• HOA: −$0
• Vac / Maint / Mgmt: −$244
• Net cashflow: $164/mo
• Annual: $1,968/yr
• Cap rate: 8.08%
• Cash-on-cash: 6.39%
• DSCR: 1.28
• 1% rule: 1.06%
• Cash to close: $30,772

Investor read

• This is a 3-bed/1.0-bath other listed at $110k.
• At list price, monthly cash flow is $164 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• It's been on market 37 days — a 3% lower offer ($107k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $107k (3.0% below list) — sets the bar for market timing.
• In year one you build about $5k of equity ($760 loan paydown + $4k appreciation (4.0% local appreciation)).
• Location reads 67/100 on livability (#431 in WI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A-; Watch: crime C-, health & safety C-, employment D+.
• Cassville School District (rural): math 45% / reading 40% proficiency, ranked #219 of 426 in WI (top 51%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Cassville Elementary (math 64% / reading 44%, grade C, #166 of 1,041 statewide, top 20%, 89 students, 43% FRL); Cassville High (math 15% / reading 34%, grade F, #284 of 483 statewide, top 59%, 83 students, 51% FRL) — zoned schools average 47% FRL vs 30% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 16 active listings in the ZIP; 120 units permitted in Grant County in 2024 (0 in 5+ unit buildings).
• Grant County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (4.0% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1950 — 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.