N2639 County Road Z Lot H194

Palmyra, WI 53118

$150,000C

4 bd · 2.0 ba · 1,440 sqft · Built 1992 · SingleFamily · Active · 171 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,689/mo
• Mortgage (P&I): −$787
• Tax + insurance: −$250
• HOA: −$0
• Vac / Maint / Mgmt: −$355
• Net cashflow: $298/mo
• Annual: $3,572/yr
• Cap rate: 8.67%
• Cash-on-cash: 8.51%
• DSCR: 1.38
• 1% rule: 1.13%
• Cash to close: $42,000

Investor read

• This is a 4-bed/2.0-bath single-family listed at $150k. Condition is rated fair.
• At list price, monthly cash flow is $298 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• It's been on market 171 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $132k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 68/100 on livability (#380 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 D-.
• Palmyra-Eagle Area School District (rural): math 27% / reading 29% proficiency, ranked #276 of 342 in WI (top 81%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Eagle Elementary (math 27% / reading 27%, grade F, #746 of 1,041 statewide, top 75%, 265 students, 37% FRL); Palmyra-Eagle Middle (math 27% / reading 32%, grade F, #261 of 383 statewide, top 73%, 114 students, 37% FRL); Palmyra-Eagle High (math 15% / reading 15%, grade F, #414 of 483 statewide, top 87%, 195 students, 33% FRL).
• Market conditions: 22 active listings in the ZIP; 145 units permitted in Jefferson County in 2024 (0 in 5+ unit buildings).
• Jefferson County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Questions for listing agent

• It's been on market 171 days. Have you received any prior offers? Is the seller open to a 12% 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?
• 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?
• 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.

Repairs flagged (vision-AI assessment)

• Major: paint — paint appears faded and needs touch-up
• Major: interior walls — paint appears faded and needs touch-up
• Minor: exterior siding — snow-covered, no visible damage