904 Moore Lot 469 St #469

Baraboo, WI 53913

$44,900B-

3 bd · 1.0 ba · 1,120 sqft · Built 1998 · SingleFamily · Active · 23 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,610/mo
• Mortgage (P&I): −$235
• Tax + insurance: −$75
• HOA: −$0
• Vac / Maint / Mgmt: −$338
• Net cashflow: $962/mo
• Annual: $11,544/yr
• Cap rate: 32.00%
• Cash-on-cash: 91.82%
• DSCR: 5.09
• 1% rule: 3.59%
• Cash to close: $12,572

Investor read

• This is a 3-bed/1.0-bath single-family listed at $45k.
• 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 $45k).
• It's been on market 23 days — a 2% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $44k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $310 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: 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.
• Zoned schools: Baraboo High (math 31% / reading 31%, grade F, #204 of 483 statewide, top 43%, 917 students, 42% FRL) — zoned schools at 42% FRL track the district average.
• Market conditions: 102 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 527 units permitted in Sauk County in 2024 (268 in 5+ unit buildings).
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~2 years — after that, you're playing with house money.
• Cap rate 32.0% 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

• 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.