301 Church St

Thorp, WI 54771

$110,000D

3 bd · 2.0 ba · 1,068 sqft · Built 1958 · SingleFamily · Active · 299 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $875/mo
• Mortgage (P&I): −$577
• Tax + insurance: −$170
• HOA: −$0
• Vac / Maint / Mgmt: −$184
• Net cashflow: $-56/mo
• Annual: $-671/yr
• Cap rate: 5.68%
• Cash-on-cash: -2.18%
• DSCR: 0.90
• 1% rule: 0.80%
• Cash to close: $30,800

Investor read

• This is a 3-bed/2.0-bath single-family listed at $110k.
• At list price, monthly cash flow is $-56 ($-671/yr) — negative.
• To cash-flow at today's rent, offer at most $100k (9.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $87k (20.5% below list).
• It's been on market 299 days — a 12% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $87k (20.5% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $761 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 68/100 on livability (#382 in WI) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety D, amenities F, commute F.
• Thorp School District (rural): math 42% / reading 37% proficiency, ranked #174 of 342 in WI (top 51%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Thorp Elementary (math 48% / reading 40%, grade F, #421 of 1,041 statewide, top 41%, 362 students, 52% FRL); Thorp High (math 15% / reading 15%, grade F, #414 of 483 statewide, top 87%, 165 students, 47% FRL).
• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 24 active listings in the ZIP; 76 units permitted in Clark County in 2024 (0 in 5+ unit buildings).
• Clark County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 299 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
• Built in 1958 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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 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?
• 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.