10735 Lacanne Trl

Nokomis, WI 54487

$85,900D

1 bd · 1.0 ba · 476 sqft · Built — · Condo · Active · 115 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $776/mo
• Mortgage (P&I): −$450
• Tax + insurance: −$143
• HOA: −$0
• Vac / Maint / Mgmt: −$163
• Net cashflow: $19/mo
• Annual: $233/yr
• Cap rate: 6.56%
• Cash-on-cash: 0.97%
• DSCR: 1.04
• 1% rule: 0.90%
• Cash to close: $24,052

Investor read

• This is a 1-bed/1.0-bath condo listed at $86k. Condition is rated good.
• At list price, monthly cash flow is $19 ($233/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 $78k (9.7% below list).
• It's been on market 115 days — a 9% lower offer ($78k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $78k (9.7% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $594 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Tomahawk School District (town): math 32% / reading 34% proficiency, ranked #252 of 342 in WI (top 74%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Tomahawk Elementary (math 45% / reading 40%, grade F, #432 of 1,041 statewide, top 41%, 554 students, 49% FRL); Tomahawk Middle (math 27% / reading 32%, grade F, #261 of 383 statewide, top 73%, 279 students, 42% FRL); Tomahawk High (math 17% / reading 27%, grade F, #349 of 483 statewide, top 75%, 371 students, 33% FRL).
• Market conditions: 154 active listings in the ZIP; 307 units permitted in Oneida County in 2024 (0 in 5+ unit buildings).
• Oneida County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Questions for listing agent

• It's been on market 115 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
• Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
• 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.
• 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?
• This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
• What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
• Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?