1870 County Road F Lot 10 · Dellwood, WI 53934

$85,900

2 bd · 2.0 ba · 1,216 sqft · SingleFamily · 40 Days on market

Built 2002 Good condition $71/sqft · 38% below area Est $138k · 38% under ↓ 31% since listing

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Why this score? — see what drove the B+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Condition / age +3.8/5.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Conveniently located close to Castle Rock Lake and area recreation. Move-in ready and suitable for seasonal or year-round use. Located on a Dead end road for even more privacy!!

Key facts

• Manufactured home
• Westwind estates
• Private wooded lot

Tags

• MANUFACTURED HOME
• WESTWIND ESTATES
• CASTLE ROCK LAKE
• LVP FLOORING
• PRIVATE WOODED LOT
• OUTDOOR SPACE

Property features AI

Exterior

• Parking: Two garage parking spaces; 2-car garage and carport
• Utilities: Private septic system; Community well available; Electric service
• Home design: Single-family home; One story
• Construction: Vinyl and aluminum/steel exterior
• Exterior features: Deck; Patio; Gazebo; Wooded lot

Interior

• Kitchen: Kitchen island; Range/oven; Refrigerator; Dishwasher; Microwave
• Bedrooms: Main-level primary bedroom (15 x 13); Main-level second bedroom (12 x 11)
• Bathrooms: Two full bathrooms; Primary bathroom with tub, walk-through access and walk-in shower
• Heating & cooling: Forced-air heating; Central air conditioning; LP gas heating
• Interior features: Walk-in closets; Cathedral/vaulted ceilings; Skylights; Cable/satellite available; High-speed internet available
• Laundry & utility: Washer and dryer included

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $86k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $563 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $86k).
• Recommended offer: $83k (3.0% below list) — sets the bar for market timing.
• Cap rate 14.2% vs local median 3.2% in Dellwood — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 57/100 on livability (#755 in WI) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: crime C-, health & safety D, amenities 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.
• Zoned schools: Adams-Friendship Elementary (math 27% / reading 17%, grade F, #823 of 1,041 statewide, top 82%, 494 students, 67% FRL); Adams-Friendship High (math 12% / reading 17%, grade F, #427 of 483 statewide, top 90%, 443 students, 62% FRL) — zoned schools at 64% FRL track the district average.
• Market conditions: 90 active listings in the ZIP; 126 units permitted in Adams County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $594 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Adams County population projected at -33% 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 $24k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($83k) is reasonable based on typical stale-listing flexibility.
• 3 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.

Recommended offer $83,323 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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.

Investment metrics

• 1% rule: 1.70% ✓
• Cap rate: 14.16%
• Cash-on-cash: 28.10%
• DSCR: 2.25
• GRM: 4.9

CMA / ARV

• ARV (median comp): $137,942
• List price: $85,900
• Delta: -37.73%
• Verdict: UNDERPRICED
• Comps: 16 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2242 Birch Dr	0.34mi	3/2.0 (+1)	1,216 (0%)	11mo	$157,000	$129	70
1870 County Road F #21	0.12mi	3/2.0 (+1)	1,261 (+4%)	22mo	$92,000	$73	65
1870 County Road F #19	0.14mi	3/2.0 (+1)	1,312 (+8%)	23mo	$125,000	$95	56
2246 Birch Dr	0.31mi	3/1.0 (+1)	1,352 (+11%)	15mo	$75,000	$55	45

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 22.3%
• Equity multiple: 1.91×
• Total profit: $21,977
• Equity at exit: $12,808

10-year hold

• IRR: 30.3%
• Equity multiple: 3.72×
• Total profit: $65,421
• Equity at exit: $7,427

Cash invested: $24,052 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 73 Landlord-Friendly
• State Wisconsin: 73 Landlord-Friendly · R+2
• County: — inherits STATE
• City: — inherits STATE

5-day notice; preempted; Madison / Milwaukee have some local enforcement.

Methodology + full state rankings →

ZIP-level market 53934

• Home prices YoY: -26.5%
• Active inventory: 90
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,464 medium
• Mortgage (P&I): −$450
• Tax est. 1.5%: −$107 /mo · $1,288/yr
• Insurance: −$36
• HOA: −$0
• Vacancy / Maint / Mgmt: −$308
• Net cashflow: $563

Break-even live

Break-even rent $751

Max offer price $85,900

Occupancy floor 57%

Sensitivity live

Price	-10% $623	-5% $593	+0% $563	+5% $534	+10% $504
Rent	-10% $448	-5% $505	+0% $563	+5% $621	+10% $679
Rate	-1.0pp $607	-0.5pp $585	base $563	+0.5pp $541	+1.0pp $518

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $21,475
• Closing costs: $2,577
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-21
   days on market $85,900 Active 40 DOM
2. 2026-06-18
   days on market $85,900 Active 37 DOM
3. 2026-06-17
   days on market $85,900 Active 36 DOM
4. 2026-06-16
   days on market $85,900 Active 35 DOM
5. 2026-06-15
   days on market $85,900 Active 34 DOM
6. 2026-06-14
   days on market $85,900 Active 32 DOM
7. 2026-06-13
   days on market $85,900 Active 31 DOM
8. 2026-06-10
   days on market $85,900 Active 29 DOM
9. 2026-06-09
   days on market $85,900 Active 28 DOM
10. 2026-06-08
    days on market $85,900 Active 27 DOM
11. 2026-06-07
    days on market $85,900 Active 26 DOM
12. 2026-06-03
    days on market $85,900 Active 22 DOM
13. 2026-06-02
    days on market $85,900 Active 21 DOM
14. 2026-06-01
    days on market $85,900 Active 20 DOM
15. 2026-05-31
    days on market $85,900 Active 19 DOM
16. 2026-05-31
    days on market $85,900 Active 18 DOM
17. 2026-05-12
    listed $85,900 Active 705-char remark
18. 2026-02-13
    historical 705-char remark

    Show marketing remark (177 chars)

    Conveniently located close to Castle Rock Lake and area recreation. Move-in ready and suitable for seasonal or year-round use. Located on a Dead end road for even more privacy!!

19. 2026-01-13
    listed $85,900 Active 705-char remark

    Show marketing remark (177 chars)

    Conveniently located close to Castle Rock Lake and area recreation. Move-in ready and suitable for seasonal or year-round use. Located on a Dead end road for even more privacy!!

20. 2025-12-04
    historical

    Show marketing remark (680 chars)

    Charming & Affordable! Enjoy Castle Rock Lake & all the Westwind Estates community has to offer! This Single wide Mobile features 2 bedrooms, 2 bathrooms, new LVP flooring, large living space, lots of natural light and eat-in kitchen! Enjoy your WIDE & PRIVATE wooded lot from the back deck under the Pergola, and Castle Rock Lake, just steps away! Don't forget about the 2 car Carport (with sides) & the HUGE 16x8 Shed! Move in ready! Perfect for weekend escapes or year-round living! Outer glass on the two skylights will be replaced, at seller's expense, prior to closing. Word of BRAND NEW WELL, from mobile home park owners, at no cost to YOU coming!

21. 2025-07-30
    price $95,900

    Show marketing remark (680 chars)

    Charming & Affordable! Enjoy Castle Rock Lake & all the Westwind Estates community has to offer! This Single wide Mobile features 2 bedrooms, 2 bathrooms, new LVP flooring, large living space, lots of natural light and eat-in kitchen! Enjoy your WIDE & PRIVATE wooded lot from the back deck under the Pergola, and Castle Rock Lake, just steps away! Don't forget about the 2 car Carport (with sides) & the HUGE 16x8 Shed! Move in ready! Perfect for weekend escapes or year-round living! Outer glass on the two skylights will be replaced, at seller's expense, prior to closing. Word of BRAND NEW WELL, from mobile home park owners, at no cost to YOU coming!

22. 2025-07-12
    price $121,900

    Show marketing remark (680 chars)

    Charming & Affordable! Enjoy Castle Rock Lake & all the Westwind Estates community has to offer! This Single wide Mobile features 2 bedrooms, 2 bathrooms, new LVP flooring, large living space, lots of natural light and eat-in kitchen! Enjoy your WIDE & PRIVATE wooded lot from the back deck under the Pergola, and Castle Rock Lake, just steps away! Don't forget about the 2 car Carport (with sides) & the HUGE 16x8 Shed! Move in ready! Perfect for weekend escapes or year-round living! Outer glass on the two skylights will be replaced, at seller's expense, prior to closing. Word of BRAND NEW WELL, from mobile home park owners, at no cost to YOU coming!

23. 2025-06-03
    listed $124,900 Active

    Show marketing remark (680 chars)

    Charming & Affordable! Enjoy Castle Rock Lake & all the Westwind Estates community has to offer! This Single wide Mobile features 2 bedrooms, 2 bathrooms, new LVP flooring, large living space, lots of natural light and eat-in kitchen! Enjoy your WIDE & PRIVATE wooded lot from the back deck under the Pergola, and Castle Rock Lake, just steps away! Don't forget about the 2 car Carport (with sides) & the HUGE 16x8 Shed! Move in ready! Perfect for weekend escapes or year-round living! Outer glass on the two skylights will be replaced, at seller's expense, prior to closing. Word of BRAND NEW WELL, from mobile home park owners, at no cost to YOU coming!

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $17,573
• − Mortgage interest: −$4,812
• − Property taxes: −$1,288
• − Insurance: −$430
• − Repairs & maintenance: −$1,406
• − Management: −$1,406
• − Depreciation: −$2,499
• Taxable income: $5,733
• Est. tax owed @ 24.0%: −$1,376
• After-tax cash flow: $5,383/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab

This well-maintained, 2-bedroom, 2-bath manufactured home is move-in ready and suitable for seasonal or year-round use. Recent updates include durable LVP flooring, making it an attractive option for both resale and rental.

Value-add opportunities

• Resale Paint exterior siding — Enhances curb appeal
• Rental Replace carpet — Improves comfort and reduces maintenance

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint exterior siding — Enhances curb appeal ↑
• Rental Replace carpet — Improves comfort and reduces maintenance ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Adams-Friendship Area School District
• NCES district ID: 5500060
• Math proficiency: 22% ▼ -5.00%
• Reading proficiency: 19% ▼ -5.00%
• Median HH income: $38,165
• Composite: 17.22/100
• National rank: #9100
• State rank: #331 of 342 in WI

Livability — Dellwood

• Score: 57/100
• State rank: #755
• US rank: #22272

Category grades

Amenities F Commute F Cost of living A+ Crime C- Employment F Housing B- Health & safety D User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 4,404

Population outlook (Adams County) Hauer SSP2

• Today (2025): 18,560 people
• By 2030: 17,523 · -5.6%
• By 2040: 14,888 · -19.8%
• By 2050: 12,359 · -33.4%
• By 2075: 8,662 · -53.3%
• By 2100: 6,000 · -67.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 7% Hispanic / Latino 4% Black 1%
• Common ancestry: Romanian 11% Portuguese 8% Lithuanian 3%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Russian/Polish/Slavic 2% Spanish 1%

Political lean MEDSL · Adams

• 2024 margin: Strong R (+25.8) · D 34.6% · R 60.4% · Other 5.0%
• 2008→2024 swing: -44.2pp toward R · 2008: 18.3pp · 2024: -25.8pp
• All cycles: 2024: R+25.8 2020: R+25.7 2016: R+21.8 2012: D+8.7 2008: D+18.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -96.94%
• Current HPI: 268.5442
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.10%
• F500 in state: 20

Industry mix (Fortune 500 HQ in WI)

Industry	F500 HQs	Revenue
▸Industrial Machinery	4	$23B
▸Industrial Technology	2	$36B
▸Insurance	1	$36B
▸Professional Services	1	$19B
▸Utilities	1	$9B
▸Consumer Goods	1	$3B

Price history

-31.2% since first listed

7 events — show timeline

• 2026-05-12 Listed $85,900 SCWMLS
• 2026-02-13 Listing Removed — SCWMLS
• 2026-01-13 Listed $85,900 SCWMLS
• 2025-12-04 Listing Removed — SCWMLS
• 2025-07-30 Price Changed $95,900 SCWMLS
• 2025-07-12 Price Changed $121,900 SCWMLS
• 2025-06-03 Listed $124,900 SCWMLS