W11680 W 26th Rd

Pound, WI 54161

$184,900D

3 bd · 1.0 ba · 1,100 sqft · Built 1980 · Other · Active · 60 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $969/mo
• Mortgage (P&I): −$970
• Tax + insurance: −$187
• HOA: −$0
• Vac / Maint / Mgmt: −$204
• Net cashflow: $-391/mo
• Annual: $-4,687/yr
• Cap rate: 4.12%
• Cash-on-cash: -7.77%
• DSCR: 0.65
• 1% rule: 0.52%
• Cash to close: $51,772

Investor read

• This is a 3-bed/1.0-bath other listed at $185k.
• At list price, monthly cash flow is $-391 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $116k (37.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $97k (47.6% below list).
• It's been on market 60 days — a 3% lower offer ($179k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $97k (47.6% below list) — sets the bar for 1% rule.
• In year one you build about $17k of equity ($1k loan paydown + $16k appreciation (8.6% local appreciation)).
• Location reads 62/100 on livability (#631 in WI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, amenities F, commute F.
• Coleman School District (rural): math 37% / reading 40% proficiency, ranked #187 of 342 in WI (top 55%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Coleman Elementary (math 52% / reading 42%, grade D-, #319 of 1,041 statewide, top 34%, 363 students, 46% FRL); Coleman Middle (math 27% / reading 42%, grade F, #208 of 383 statewide, top 58%, 142 students, 41% FRL); Coleman High (math 34% / reading 24%, grade F, #228 of 483 statewide, top 52%, 233 students, 38% FRL).
• Watch-outs: flood insurance adds $56/mo.
• Market conditions: 22 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.
• 2 sale attempts; this cycle's ask has dropped $15k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $85k; list at $185k implies a 118% gain — meaningful room to come down on a strong offer.
• By year 3, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major flood risk; moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 60 days. Have you received any prior offers? Is the seller open to a 48% 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.
• 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.