N115W21106 Brookside Cir · Germantown, WI 53022

$130,000

3 bd · 2.0 ba · 1,600 sqft · SingleFamily · 52 Days on market

Built 2008 Good condition 4,356 sqft lot $825/mo HOA · 41% of rent

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Why this score? — see what drove the D 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).

• 1% rule +10.0/10.0
• Cash flow +8.1/30.0
• ARV discount +7.5/15.0
• Schools +4.4/10.0
• Condition / age +3.8/5.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• DSCR +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks

This is a Manufactured home! MONTHLY LOT RENTAL IS $825 PER MONTH AND INCLUDES GARBAGE PICK UP AND MAINTENANCE OF ROADS. OWNER PAYS SEWER/WELL WATER ($25-$35/MONTH) AND PERSONAL PROPERTY TAX MONTHLY OF $17 APPROX. Welcome to this spacious and well-maintained 3 bedroom, 2 bath manufactured home offering comfort, convenience, and charm. The open floor plan features a large living room that flows seamlessly into the eat-in kitchen all appliances included! Enjoy outdoor living on the nice patio, perfect for entertaining, and take advantage of the nicely sized yard. The home also includes a 2-car attached garage, a convenient laundry area, and a washer and dryer all included for easy, low-mainte

Key facts

• Open floor plan
• Nicely sized yard
• Large living room

Tags

• OPEN FLOOR PLAN
• LARGE LIVING ROOM
• EAT-IN KITCHEN
• NICE PATIO
• NICELY SIZED YARD
• CONVENIENT LAUNDRY AREA

Property features AI

Finance

• Other: Subdivision: Brookside Meadows; Municipality: Germantown (village)
• HOA & community: Annual HOA fee listed (amount provided)

Exterior

• Parking: Attached 2-car garage
• Utilities: Municipal water; Municipal sewer; Natural gas
• Home design: Single-family home; One story
• Construction: Owner-listed year built (information source: Owner)
• Exterior features: Patio; Storage building; Vinyl exterior

Interior

• Kitchen: Range/oven; Refrigerator; Dishwasher; Microwave; Breakfast bar
• Bedrooms: Master bedroom (Main) — 12 x 14; Bedroom 2 (Main) — 10 x 12; Bedroom 3 (Main) — 10 x 12
• Bathrooms: Two full bathrooms; Master bathroom (full)
• Heating & cooling: Forced air heating; Central air conditioning; Natural gas heating
• Interior features: Cathedral/vaulted ceilings; Cable/satellite available; Crawl space
• Laundry & utility: Washer; Dryer

🏷️ Possibly a rental listed for sale. The $130,000 price doesn't fit this home's estimated sale value (~$323,200) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $130k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-127 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $112k (14.2% below list).
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $112k (14.2% below list) — sets the bar for cash-flow.
• Cap rate 5.1% vs local median 2.2% in Germantown — 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 72/100 on livability (#229 in WI) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Germantown School District (suburban): math 50% / reading 45% proficiency, ranked #52 of 342 in WI (top 15%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 11% free/reduced lunch — higher-income household profile.
• Zoned schools: Amy Belle Elementary (math 57% / reading 37%, grade D-, #319 of 1,041 statewide, top 34%, 363 students, 14% FRL); Kennedy Middle (math 44% / reading 49%, grade D+, #85 of 383 statewide, top 23%, 898 students, 14% FRL); Germantown High (math 47% / reading 47%, grade D-, #50 of 483 statewide, top 11%, 1,295 students, 14% FRL) — zoned schools at 14% FRL track the district average.
• Market conditions: 82 active listings in the ZIP; solid renter incomes; 453 units permitted in Washington County in 2024 (105 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $899 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Washington County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• 2 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.

Risks & watch-outs

• Watch-outs: HOA is 41% of rent.

Recommended offer $111,603 (14.2% below list)

Questions for the listing agent

1. 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?
2. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. 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?
7. 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.
8. 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.
9. 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: 1.55% ✓
• Cap rate: 5.12%
• Cash-on-cash: -4.19%
• DSCR: 0.81
• GRM: 5.4

CMA / ARV

• ARV (on-the-fly): $323,200
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
N115W21106 Brookside Cir	0.00mi	3/2.0	1,600 (0%)	1mo	$125,000	$78	99
N113W20494 Edgewood Dr	0.41mi	3/1.5	1,546 (-3%)	20mo	$312,000	$202	56
N115W20062 Woodland Dr	0.65mi	3/2.0	1,700 (+6%)	21mo	$410,000	$241	42

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: -22.8%
• Equity multiple: 0.21×
• Total profit: $-28,625
• Equity at exit: $19,383

10-year hold

• IRR: -15.9%
• Equity multiple: 0.09×
• Total profit: $-33,169
• Equity at exit: $11,240

Cash invested: $36,400 (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 53022

• Active inventory: 82
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $2,021 medium
• Mortgage (P&I): −$682
• Tax est. 1.5%: −$162 /mo · $1,950/yr
• Insurance: −$54
• HOA: −$825
• Vacancy / Maint / Mgmt: −$424
• Net cashflow: $-127

Break-even live

Break-even rent $2,182

Max offer price $111,603

Occupancy floor —

Sensitivity live

Price	-10% $-37	-5% $-82	+0% $-127	+5% $-172	+10% $-217
Rent	-10% $-287	-5% $-207	+0% $-127	+5% $-47	+10% $32
Rate	-1.0pp $-62	-0.5pp $-94	base $-127	+0.5pp $-161	+1.0pp $-195

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $825 · $9,900/yr
• Likely covers: watersewertrash

Listing history 4 events

1. 2026-04-22
   status Pending
2. 2026-04-07
   status Active
3. 2026-03-26
   status Pending
4. 2026-02-17
   listed $130,000 Active

ⓘ 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: $24,247
• − Mortgage interest: −$7,282
• − Property taxes: −$1,950
• − Insurance: −$650
• − Repairs & maintenance: −$1,940
• − Management: −$1,940
• − HOA: −$9,900
• − Depreciation: −$3,782
• Taxable loss: −$3,196
• Est. tax savings @ 24.0%: +$767
• After-tax cash flow: $-759/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 · 13 photos

Good 75/100 Cosmetic rehab

This well-maintained 3-bedroom, 2-bath manufactured home offers a good condition with minimal repairs needed. It's ready for immediate move-in and can be further enhanced with minor updates to boost its value.

Value-add opportunities

• Both Paint touch-ups — Fresh paint enhances curb appeal and interior aesthetics
• Both Landscaping maintenance — Well-maintained landscaping improves curb appeal and property value
• Resale New flooring in bathrooms — New flooring in bathrooms can significantly enhance the home's appeal and value
• Resale New kitchen appliances — Upgraded appliances can attract more buyers and renters

Renovation cost estimate screening

Value-add ROI direction

• Both Paint touch-ups — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Landscaping maintenance — Well-maintained landscaping improves curb appeal and property value ↑
• Resale New flooring in bathrooms — New flooring in bathrooms can significantly enhance the home's appeal and value ↑
• Resale New kitchen appliances — Upgraded appliances can attract more buyers and renters ↑

ⓘ 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: Germantown School District
• NCES district ID: 5505160
• Math proficiency: 50% ▼ -10.00%
• Reading proficiency: 45% ▼ -5.00%
• Median HH income: $80,496
• Composite: 43.66/100
• National rank: #2961
• State rank: #52 of 342 in WI

Livability — Germantown

• Score: 72/100
• State rank: #229
• US rank: #6122

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Germantown, WI
• County: Washington County · 47,863 people
• City population: 20,046
• Metro: Milwaukee-Waukesha, WI
• Population (ZIP): 20,046
• Household income: $100,890
• Rent vs Own: 22.8% rent · 77.2% own
• Severe rent burden: 384.0

Population outlook (Washington County) Hauer SSP2

• Today (2025): 137,678 people
• By 2030: 138,441 · +0.6%
• By 2040: 137,047 · -0.5%
• By 2050: 130,918 · -4.9%
• By 2075: 115,447 · -16.1%
• By 2100: 93,069 · -32.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Asian 7% Black 4% Two or more races 4% Hispanic / Latino 4%
• Common ancestry: Romanian 10% Portuguese 3% Lithuanian 2%
• Foreign-born: 8% · Canada
• Languages at home: 92% English-only · Other Asian/Pacific 3% Other Indo-European 2% Spanish 1%

Political lean MEDSL · Washington

• 2024 margin: Solid R (+36.3) · D 31.3% · R 67.6% · Other 1.2%
• 2008→2024 swing: -6.7pp toward R · 2008: -29.6pp · 2024: -36.3pp
• All cycles: 2024: R+36.3 2020: R+38.1 2016: R+40.5 2012: R+40.2 2008: R+29.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -142.24%
• Current HPI: 169.5534
• Rent YoY: —
• Metro: Milwaukee-Waukesha, WI
• 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

4 events — show timeline

• 2026-04-22 Pending — SCWMLS
• 2026-04-07 Relisted — SCWMLS
• 2026-03-26 Pending — SCWMLS
• 2026-02-17 Listed $130,000 SCWMLS