W14702 Old Highway 10

Garfield, WI 54741

$95,000C

3 bd · None ba · 400 sqft · Built 2020 · Other · Active · 43 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $900/mo
• Mortgage (P&I): −$498
• Tax + insurance: −$181
• HOA: −$0
• Vac / Maint / Mgmt: −$189
• Net cashflow: $32/mo
• Annual: $380/yr
• Cap rate: 7.53%
• Cash-on-cash: 4.43%
• DSCR: 1.20
• 1% rule: 0.95%
• Cash to close: $26,600

Investor read

• This is a 3-bed/?-bath other listed at $95k.
• At list price, monthly cash flow is $32 ($380/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 $90k (5.3% below list).
• It's been on market 43 days — a 3% lower offer ($92k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $90k (5.3% below list) — sets the bar for 1% rule.
• In year one you build about $6k of equity ($657 loan paydown + $6k appreciation (5.9% local appreciation)).
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Osseo-Fairchild School District (rural): math 40% / reading 38% proficiency, ranked #170 of 342 in WI (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: flood insurance adds $66/mo.
• Market conditions: 14 active listings in the ZIP; 73 units permitted in Jackson County in 2024 (15 in 5+ unit buildings).
• Jackson County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 4 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $6k; list at $95k implies a 1483% gain — meaningful room to come down on a strong offer.
• At projected returns (5.9% appreciation + 3.0% rent growth), your $27k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$34k 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 43 days. Have you received any prior offers? Is the seller open to a 5% concession, seller financing, or rate buy-down credit?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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.