120 S Bagley Ave

Bagley, WI 53801

$39,900B

2 bd · 1.0 ba · 1,344 sqft · Built 1900 · Other · Pending · 14 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,104/mo
• Mortgage (P&I): −$209
• Tax + insurance: −$66
• HOA: −$0
• Vac / Maint / Mgmt: −$232
• Net cashflow: $597/mo
• Annual: $7,158/yr
• Cap rate: 24.23%
• Cash-on-cash: 64.07%
• DSCR: 3.85
• 1% rule: 2.77%
• Cash to close: $11,172

Investor read

• This is a 2-bed/1.0-bath other listed at $40k.
• At list price, monthly cash flow is $597 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $40k).
• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $1k of equity ($276 loan paydown + $818 appreciation (2.0% local appreciation)).
• Location reads 61/100 on livability (#663 in WI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, employment D, amenities F.
• River Ridge School District (rural): math 42% / reading 35% proficiency, ranked #190 of 342 in WI (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: River Ridge Elementary (math 42% / reading 37%, grade F, #490 of 1,041 statewide, top 53%, 192 students, 50% FRL); River Ridge Middle (math 47% / reading 37%, grade D-, #124 of 383 statewide, top 35%, 157 students, 45% FRL); River Ridge High (math 24% / reading 15%, grade F, #376 of 483 statewide, top 79%, 175 students, 38% FRL).
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 10 active listings in the ZIP; 120 units permitted in Grant County in 2024 (0 in 5+ unit buildings).
• Grant County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• Current owner paid $13k; list at $40k implies a 207% gain — meaningful room to come down on a strong offer.
• At projected returns (2.0% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Questions for listing agent

• Built in 1900 — 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.
• Schools are F-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.