15 Quail Walk

Germantown, WI 53948

$35,000B-

1 bd · 1.0 ba · 480 sqft · Built 1997 · SingleFamily · Active · 21 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $939/mo
• Mortgage (P&I): −$184
• Tax + insurance: −$58
• HOA: −$0
• Vac / Maint / Mgmt: −$197
• Net cashflow: $500/mo
• Annual: $5,996/yr
• Cap rate: 23.43%
• Cash-on-cash: 61.19%
• DSCR: 3.72
• 1% rule: 2.68%
• Cash to close: $9,800

Investor read

• This is a 1-bed/1.0-bath single-family listed at $35k. Condition is rated fair.
• At list price, monthly cash flow is $500 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($939 rent vs $35k).
• It's been on market 21 days — a 2% lower offer ($34k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $34k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $242 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads 72/100 on livability (#229 in WI) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Mauston School District (rural): math 36% / reading 31% proficiency, ranked #248 of 342 in WI (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: West Side Elementary (267 students, 68% FRL); Olson Middle (math 39% / reading 34%, grade F, #185 of 383 statewide, top 49%, 233 students, 57% FRL); Mauston High (math 17% / reading 17%, grade F, #400 of 483 statewide, top 85%, 381 students, 41% FRL).
• Market conditions: 61 active listings in the ZIP; 154 units permitted in Juneau County in 2024 (0 in 5+ unit buildings).
• Juneau County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $10k cash investment doubles in ~2 years — after that, you're playing with house money.
• Cap rate 23.4% vs local median 2.2% in Germantown — 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

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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)

• Moderate: Exterior siding — Weathered and in need of repainting
• Minor: Interior paint — Faded and could benefit from fresh paint