1063 Pheasant Dr

Genoa City, WI 53128

$395,000C+

2 bd · 1.5 ba · 1,646 sqft · Built 2000 · SingleFamily · Active · 13 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $6,307/mo
• Mortgage (P&I): −$2,071
• Tax + insurance: −$554
• HOA: −$0
• Vac / Maint / Mgmt: −$1,324
• Net cashflow: $2,357/mo
• Annual: $28,289/yr
• Cap rate: 13.45%
• Cash-on-cash: 25.58%
• DSCR: 2.14
• 1% rule: 1.60%
• Cash to close: $110,600

Investor read

• This is a 2-bed/1.5-bath single-family listed at $395k.
• At list price, monthly cash flow is $2k ($28k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $395k).
• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• Location reads 71/100 on livability (#265 in WI) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Lake Geneva-Genoa City Uhs School District (town): math 27% / reading 35% proficiency, ranked #258 of 342 in WI (top 75%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Badger High (math 27% / reading 36%, grade F, #199 of 483 statewide, top 42%, 1,326 students, 34% FRL).
• Market conditions: 43 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 474 units permitted in Walworth County in 2024 (77 in 5+ unit buildings).
• Current owner paid $177k; list at $395k implies a 123% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $111k cash investment doubles in ~5 years — after that, you're playing with house money.

Questions for listing agent

• 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.