N9590 Dahleen Ln

Stephenson, WI 54114

$79,900B-

2 bd · 1.0 ba · 840 sqft · Built 1968 · Other · Active · 35 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,249/mo
• Mortgage (P&I): −$419
• Tax + insurance: −$81
• HOA: −$0
• Vac / Maint / Mgmt: −$262
• Net cashflow: $486/mo
• Annual: $5,836/yr
• Cap rate: 13.60%
• Cash-on-cash: 26.09%
• DSCR: 2.16
• 1% rule: 1.56%
• Cash to close: $22,372

Investor read

• This is a 2-bed/1.0-bath other listed at $80k.
• At list price, monthly cash flow is $486 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• It's been on market 35 days — a 3% lower offer ($78k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $78k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $552 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Crivitz School District (rural): math 38% / reading 34% proficiency, ranked #225 of 342 in WI (top 66%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Crivitz Elementary (math 32% / reading 30%, grade F, #701 of 1,041 statewide, top 67%, 468 students, 44% FRL); Crivitz Middle (math 47% / reading 42%, grade D, #94 of 383 statewide, top 28%, 104 students, 40% FRL); Crivitz High (math 54% / reading 44%, grade D, #36 of 483 statewide, top 9%, 219 students, 42% FRL) — zoned schools at 42% FRL track the district average.
• Market conditions: 84 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~5 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.