11529 Kalies Shady Ln

Riverview, WI 54114

$147,000D

2 bd · 1.0 ba · 924 sqft · Built 1970 · SingleFamily · Active · 11 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,287/mo
• Mortgage (P&I): −$771
• Tax + insurance: −$137
• HOA: −$0
• Vac / Maint / Mgmt: −$270
• Net cashflow: $109/mo
• Annual: $1,304/yr
• Cap rate: 7.18%
• Cash-on-cash: 3.17%
• DSCR: 1.14
• 1% rule: 0.88%
• Cash to close: $41,160

Investor read

• This is a 2-bed/1.0-bath single-family listed at $147k.
• At list price, monthly cash flow is $109 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $129k (12.5% below list).
• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $129k (12.5% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Wabeno Area School District (rural): math 20% / reading 20% proficiency, ranked #412 of 426 in WI (top 97%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Suring Elementary (math 22% / reading 22%, grade F, #823 of 1,041 statewide, top 82%, 208 students, 68% FRL); Wabeno High (math 27% / reading 27%, grade F, #260 of 483 statewide, top 58%, 179 students, 68% FRL) — zoned schools average 68% FRL vs 42% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 84 active listings in the ZIP; 132 units permitted in Oconto County in 2024 (0 in 5+ unit buildings).
• Oconto County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $124k; 19% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Questions for listing agent

• Built in 1970 — 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.
• 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.