W10780 Blueberry Point Rd Rd

Dunbar, WI 54119

$55,000B+

1 bd · None ba · 432 sqft · Built 2012 · Other · Active · 177 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $768/mo
• Mortgage (P&I): −$288
• Tax + insurance: −$56
• HOA: −$0
• Vac / Maint / Mgmt: −$161
• Net cashflow: $262/mo
• Annual: $3,143/yr
• Cap rate: 12.01%
• Cash-on-cash: 20.41%
• DSCR: 1.91
• 1% rule: 1.40%
• Cash to close: $15,400

Investor read

• This is a 1-bed/?-bath other listed at $55k.
• At list price, monthly cash flow is $262 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($768 rent vs $55k).
• It's been on market 177 days — a 12% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $48k (12.0% below list) — sets the bar for market timing.
• In year one you build about $4k of equity ($380 loan paydown + $3k appreciation (6.2% local appreciation)).
• Location reads 60/100 on livability (#690 in WI) — a middle-class / working-renter tenant base. Strengths: cost of living A+; Watch: schools F, amenities F, commute F.
• Beecher-Dunbar-Pembine School District (rural): math 40% / reading 45% proficiency, ranked #237 of 426 in WI (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 14 active listings in the ZIP; 145 units permitted in Marinette County in 2024 (0 in 5+ unit buildings).
• Marinette County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 4 sale attempts since 3y ago; this cycle's ask has dropped $7k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $45k; 22% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (6.2% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 177 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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.