903 Moore St #149

Baraboo, WI 53913

$39,900B-

3 bd · 2.0 ba · 858 sqft · Built 2001 · SingleFamily · Active · 239 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,567/mo
• Mortgage (P&I): −$209
• Tax + insurance: −$66
• HOA: −$0
• Vac / Maint / Mgmt: −$329
• Net cashflow: $962/mo
• Annual: $11,542/yr
• Cap rate: 35.22%
• Cash-on-cash: 103.31%
• DSCR: 5.60
• 1% rule: 3.93%
• Cash to close: $11,172

Investor read

• This is a 3-bed/2.0-bath single-family listed at $40k. Condition is rated fair.
• At list price, monthly cash flow is $962 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $40k).
• It's been on market 239 days — a 12% lower offer ($35k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $35k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $276 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads 77/100 on livability (#118 in WI, #3,059 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools C-, employment D, commute F.
• 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.
• Market conditions: 102 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 527 units permitted in Sauk County in 2024 (268 in 5+ unit buildings).
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.
• Cap rate 35.2% vs local median 2.4% in Baraboo — 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 239 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• 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.

Repairs flagged (vision-AI assessment)

• Major: siding — Severe weathering and damage
• Major: paint — Peeling and worn
• Major: carpet — Worn and outdated
• Major: HVAC unit — Old and likely inefficient