2934 Brentwood Dr

Grand Marsh, WI 53936

$89,900B

2 bd · 1.0 ba · 840 sqft · Built 1979 · Other · Pending · 206 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $908/mo
• Mortgage (P&I): −$471
• Tax + insurance: −$71
• HOA: −$0
• Vac / Maint / Mgmt: −$191
• Net cashflow: $175/mo
• Annual: $2,096/yr
• Cap rate: 8.62%
• Cash-on-cash: 8.33%
• DSCR: 1.37
• 1% rule: 1.01%
• Cash to close: $25,172

Investor read

• This is a 2-bed/1.0-bath other listed at $90k.
• At list price, monthly cash flow is $175 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($908 rent vs $90k).
• It's been on market 206 days — a 12% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $79k (12.0% below list) — sets the bar for market timing.
• In year one you build about $9k of equity ($622 loan paydown + $8k appreciation (9.2% local appreciation)).
• Location reads 60/100 on livability (#703 in WI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, health & safety D, schools F.
• Adams-Friendship Area School District (rural): math 22% / reading 19% proficiency, ranked #331 of 342 in WI (top 97%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 16 active listings in the ZIP; 126 units permitted in Adams County in 2024 (0 in 5+ unit buildings).
• Adams County population projected at -33% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts; this cycle's ask has dropped $35k (28%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (9.2% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 206 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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 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.