Hwy 12&16 New Lisbon East #327

New Lisbon, WI 53950

$37,000B-

2 bd · 1.0 ba · 1,020 sqft · Built 2000 · SingleFamily · Pending · 29 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $941/mo
• Mortgage (P&I): −$194
• Tax + insurance: −$62
• HOA: −$0
• Vac / Maint / Mgmt: −$198
• Net cashflow: $488/mo
• Annual: $5,854/yr
• Cap rate: 22.12%
• Cash-on-cash: 56.51%
• DSCR: 3.51
• 1% rule: 2.54%
• Cash to close: $10,360

Investor read

• This is a 2-bed/1.0-bath single-family listed at $37k. Condition is rated fair.
• At list price, monthly cash flow is $488 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($941 rent vs $37k).
• It's been on market 29 days — a 2% lower offer ($36k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $36k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $256 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads 64/100 on livability (#565 in WI) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A-; Watch: health & safety D, amenities F, commute F.
• New Lisbon School District (rural): math 13% / reading 21% proficiency, ranked #334 of 342 in WI (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: New Lisbon Elementary (math 17% / reading 22%, grade F, #864 of 1,041 statewide, top 85%, 334 students, 55% FRL); New Lisbon Junior High/High (math 8% / reading 17%, grade F, #435 of 483 statewide, top 90%, 248 students, 45% FRL).
• Market conditions: 94 active listings in the ZIP; 154 units permitted in Juneau County in 2024 (0 in 5+ unit buildings).
• Juneau County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $26k; 42% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $10k cash investment doubles in ~3 years — after that, you're playing with house money.

Questions for listing agent

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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)

• Minor: Kitchen cabinets — The cabinets appear to be in good condition and do not require immediate repair.
• Minor: Kitchen tile floor — The tile floor is dated and could be replaced for a more modern look.
• Minor: Bathroom toilet — The toilet is functional and does not require immediate repair.
• Minor: Bathroom shower head — The shower head is functional and does not require immediate repair.
• Minor: Kitchen faucet — The faucet is functional and does not require immediate repair.
• Minor: Refrigerator condenser fan — The condenser fan has been replaced, indicating it was functioning properly.