W2525 Woodland Rd

Iron Ridge, WI 53035

$139,000B-

3 bd · 2.0 ba · 1,706 sqft · Built 2026 · Other · Active · 41 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,389/mo
• Mortgage (P&I): −$729
• Tax + insurance: −$94
• HOA: −$0
• Vac / Maint / Mgmt: −$292
• Net cashflow: $275/mo
• Annual: $3,299/yr
• Cap rate: 8.67%
• Cash-on-cash: 8.48%
• DSCR: 1.38
• 1% rule: 1.00%
• Cash to close: $38,920

Investor read

• This is a 3-bed/2.0-bath other listed at $139k.
• At list price, monthly cash flow is $275 ($3k/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 $139k (0.0% below list).
• It's been on market 41 days — a 3% lower offer ($135k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $135k (3.0% below list) — sets the bar for market timing.
• In year one you build about $15k of equity ($961 loan paydown + $14k appreciation (10.0% local appreciation)).
• Location reads 67/100 on livability (#412 in WI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Hartford Uhs School District (suburban): math 27% / reading 33% proficiency, ranked #261 of 342 in WI (top 76%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Hartford High (math 27% / reading 33%, grade F, #208 of 483 statewide, top 46%, 1,316 students, 22% FRL).
• Market conditions: 8 active listings in the ZIP; 229 units permitted in Dodge County in 2024 (0 in 5+ unit buildings).
• Dodge County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 5 sale attempts since 9y ago; this cycle's ask has dropped $21k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $32k; list at $139k implies a 328% gain — meaningful room to come down on a strong offer.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 41 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• 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.