440 Forest Blvd

Sheboygan Falls, WI 53085

$87,900B-

3 bd · 2.0 ba · 1,216 sqft · Built 2018 · SingleFamily · Active · 50 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,725/mo
• Mortgage (P&I): −$461
• Tax + insurance: −$146
• HOA: −$0
• Vac / Maint / Mgmt: −$362
• Net cashflow: $755/mo
• Annual: $9,064/yr
• Cap rate: 16.60%
• Cash-on-cash: 36.83%
• DSCR: 2.64
• 1% rule: 1.96%
• Cash to close: $24,612

Investor read

• This is a 3-bed/2.0-bath single-family listed at $88k. Condition is rated fair.
• At list price, monthly cash flow is $755 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $88k).
• It's been on market 50 days — a 3% lower offer ($85k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $85k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $608 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 70/100 on livability (#310 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.
• Sheboygan Falls School District (suburban): math 31% / reading 34% proficiency, ranked #249 of 342 in WI (top 73%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Sheboygan Falls Elementary (math 41% / reading 37%, grade F, #549 of 1,041 statewide, top 53%, 602 students, 32% FRL); Sheboygan Falls High (math 27% / reading 22%, grade F, #287 of 483 statewide, top 71%, 511 students, 26% FRL).
• Market conditions: 109 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 383 units permitted in Sheboygan County in 2024 (105 in 5+ unit buildings).
• Sheboygan County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~4 years — after that, you're playing with house money.
• Cap rate 16.6% vs local median 3.5% in Sheboygan Falls — 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 50 days. Have you received any prior offers? Is the seller open to a 3% 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?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-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.