W635 Perch St

Mecan, WI 53949

$65,000B-

3 bd · 2.0 ba · 1,280 sqft · Built 1994 · SingleFamily · Active · 36 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,122/mo
• Mortgage (P&I): −$341
• Tax + insurance: −$108
• HOA: −$0
• Vac / Maint / Mgmt: −$236
• Net cashflow: $437/mo
• Annual: $5,248/yr
• Cap rate: 14.37%
• Cash-on-cash: 28.84%
• DSCR: 2.28
• 1% rule: 1.73%
• Cash to close: $18,200

Investor read

• This is a 3-bed/2.0-bath single-family listed at $65k. Condition is rated fair.
• At list price, monthly cash flow is $437 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• It's been on market 36 days — a 3% lower offer ($63k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $63k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Montello School District (rural): math 29% / reading 31% proficiency, ranked #280 of 342 in WI (top 82%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Forest Lane Community School (math 52% / reading 42%, grade D-, #319 of 1,041 statewide, top 34%, 268 students, 47% FRL); Montello Junior/Senior High (math 17% / reading 22%, grade F, #385 of 483 statewide, top 82%, 256 students, 46% FRL) — zoned schools at 47% FRL track the district average.
• Market conditions: 81 active listings in the ZIP; 95 units permitted in Marquette County in 2024 (0 in 5+ unit buildings).
• Marquette County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~5 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 36 days. Have you received any prior offers? Is the seller open to a 3% 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?
• 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.

Repairs flagged (vision-AI assessment)

• Minor: Kitchen cabinets — Worn countertops and dated cabinets suggest minor repairs or replacement needed.
• Minor: Bathroom fixtures — Peeling paint and dated fixtures indicate minor repairs or replacement needed.
• Moderate: Exterior siding — Weathered and discolored siding suggests moderate repairs or replacement needed.
• Minor: Deck and fencing — Some areas of the deck and fencing show signs of wear, indicating minor repairs.