N12815 Sailor Lake Rd

Fifield, WI 54552

$79,000D+

1 bd · None ba · 440 sqft · Built 1970 · Manufactured · Active · 83 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $771/mo
• Mortgage (P&I): −$414
• Tax + insurance: −$132
• HOA: −$0
• Vac / Maint / Mgmt: −$162
• Net cashflow: $63/mo
• Annual: $755/yr
• Cap rate: 7.25%
• Cash-on-cash: 3.41%
• DSCR: 1.15
• 1% rule: 0.98%
• Cash to close: $22,120

Investor read

• This is a 1-bed/?-bath manufactured listed at $79k. Condition is rated poor.
• At list price, monthly cash flow is $63 ($755/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 $77k (2.4% below list).
• It's been on market 83 days — a 6% lower offer ($74k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $74k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $546 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Chequamegon School District (rural): math 25% / reading 29% proficiency, ranked #303 of 342 in WI (top 89%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Park Falls Elementary (math 37% / reading 22%, grade F, #705 of 1,041 statewide, top 71%, 280 students, 59% FRL); Chequamegon Middle (math 22% / reading 37%, grade F, #261 of 383 statewide, top 73%, 129 students, 50% FRL); Chequamegon High (math 24% / reading 24%, grade F, #287 of 483 statewide, top 71%, 218 students, 46% FRL).
• Market conditions: 78 active listings in the ZIP; 47 units permitted in Price County in 2024 (0 in 5+ unit buildings).
• Price County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts; this cycle's ask has dropped $8k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• 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 83 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1970 — 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.
• 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?
• This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
• What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?

Repairs flagged (vision-AI assessment)

• Major: kitchen cabinets — severely dated and worn
• Major: bathroom fixtures — dated and worn
• Major: roof — visible wear and tear
• Major: exterior siding — weathered and missing shingles
• Major: HVAC system — no AC and no batteries for solar panels
• Major: landscaping — overgrown vegetation