N3869 Rome Rd

Rubicon, WI 53078

$1F

3 bd · 1.5 ba · 1,268 sqft · Built 1968 · SingleFamily · Active · 25 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,214/mo
• Mortgage (P&I): −$1,696
• Tax + insurance: −$539
• HOA: −$0
• Vac / Maint / Mgmt: −$255
• Net cashflow: $-1,275/mo
• Annual: $-15,305/yr
• Cap rate: 1.56%
• Cash-on-cash: -16.91%
• DSCR: 0.25
• 1% rule: 0.38%
• Cash to close: $90,535

Investor read

• This is a 3-bed/1.5-bath single-family listed at $1.
• At list price, monthly cash flow is $-1k ($-15k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $1).
• It's been on market 25 days — a 2% lower offer ($0) is reasonable based on typical stale-listing flexibility.
• In year one you build about $21k of equity ($2k loan paydown + $18k appreciation (5.7% local appreciation)).
• Location reads: area grade F — affects rentability + tenant quality, not the cash-flow math above.
• Hartford Uhs School District (suburban): math 27% / reading 33% proficiency, ranked #261 of 342 in WI (top 76%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Hartford High (math 27% / reading 33%, grade F, #208 of 483 statewide, top 46%, 1,316 students, 22% FRL).
• Watch-outs: property tax is 485010.0% of price.
• Market conditions: 5 active listings in the ZIP; 229 units permitted in Dodge County in 2024 (0 in 5+ unit buildings).
• Dodge County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• By year 2, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.