7741 State Hwy 42 #106 · Egg Harbor, WI 54209

$60,000

1 bd · 1.0 ba · 450 sqft · Condo · 106 Days on market

Built 1983 $133/sqft · 9% below area Est $66k · 9% under $709/mo HOA · 48% of rent ↓ 7% since listing

---

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 +18.8/30.0
• ARV discount +11.7/15.0
• 1% rule +10.0/10.0
• Appreciation +7.3/10.0
• DSCR +5.9/10.0
• Schools +4.6/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

First Floor Spinnaker Unit - Open concept living area with a fully equipped kitchen, private bedroom, sleeper sofa in living room. The private, covered patio off the living room gives you direct access to a small outdoor area for you to enjoy the serene view. Owners are limited to 28 days per year occupancy.

Key facts

• Private bedroom
• Covered patio
• Serene view

Tags

• OPEN CONCEPT LIVING AREA
• FULLY EQUIPPED KITCHEN
• PRIVATE BEDROOM
• COVERED PATIO
• SERENE VIEW

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $60k.

Deal economics

• At list price, monthly cash flow is $60 ($720/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $55k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.5% vs local median 1.0% in Egg Harbor — 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 66/100 on livability (#455 in WI) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A-; Watch: amenities F, commute F, health & safety D-.
• Gibraltar Area School District (rural): math 52% / reading 54% proficiency, ranked #45 of 342 in WI (top 13%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 103 active listings in the ZIP; 306 units permitted in Door County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($415 loan paydown + $3k appreciation (4.6% local appreciation)).
• Door County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.6% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 106 days — a 9% lower offer ($55k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y ago 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.
• Current owner paid $40k; list at $60k implies a 50% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 48% of rent.

Recommended offer $54,600 (9.0% below list)

Questions for the listing agent

1. It's been on market 106 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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.
7. 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.
8. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 2.45% ✓
• Cap rate: 7.49%
• Cash-on-cash: 4.29%
• DSCR: 1.19
• GRM: 3.4

CMA / ARV

• ARV (median comp): $66,245
• List price: $60,000
• Delta: -9.43%
• Verdict: FAIR
• Comps: 15 within 1.0 mi

Projected returns pro-forma

4.61% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 16.0%
• Equity multiple: 2.00×
• Total profit: $16,770
• Equity at exit: $32,591

10-year hold

• IRR: 16.9%
• Equity multiple: 3.91×
• Total profit: $48,907
• Equity at exit: $55,115

Cash invested: $16,800 (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 54209

• Home prices YoY: 2.0%
• Active inventory: 103
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $1,471 medium
• Mortgage (P&I): −$315
• Tax from tax record: −$53 /mo · $638/yr
• Insurance: −$25
• HOA: −$709
• Vacancy / Maint / Mgmt: −$309
• Net cashflow: $60

Break-even live

Break-even rent $1,395

Max offer price $60,000

Occupancy floor 91%

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $709 · $8,508/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 22 events

1. 2026-06-18
   days on market $60,000 Active 106 DOM
2. 2026-06-17
   days on market $60,000 Active 105 DOM
3. 2026-06-16
   days on market $60,000 Active 104 DOM
4. 2026-06-15
   days on market $60,000 Active 103 DOM
5. 2026-06-15
   days on market $60,000 Active 102 DOM
6. 2026-06-13
   days on market $60,000 Active 101 DOM
7. 2026-06-12
   days on market $60,000 Active 100 DOM
8. 2026-06-09
   days on market $60,000 Active 97 DOM
9. 2026-06-08
   days on market $60,000 Active 96 DOM
10. 2026-06-08
    days on market $60,000 Active 95 DOM
11. 2026-06-07
    days on market $60,000 Active 94 DOM
12. 2026-06-03
    days on market $60,000 Active 91 DOM
13. 2026-06-02
    days on market $60,000 Active 90 DOM
14. 2026-06-01
    days on market $60,000 Active 89 DOM
15. 2026-05-31
    days on market $60,000 Active 88 DOM
16. 2026-03-04
    listed $60,000 Active 309-char remark

    Show marketing remark (309 chars)

    First Floor Spinnaker Unit - Open concept living area with a fully equipped kitchen, private bedroom, sleeper sofa in living room. The private, covered patio off the living room gives you direct access to a small outdoor area for you to enjoy the serene view. Owners are limited to 28 days per year occupancy.

17. 2026-02-27
    listed $60,000 Active 309-char remark

    Show marketing remark (309 chars)

    First Floor Spinnaker Unit - Open concept living area with a fully equipped kitchen, private bedroom, sleeper sofa in living room. The private, covered patio off the living room gives you direct access to a small outdoor area for you to enjoy the serene view. Owners are limited to 28 days per year occupancy.

18. 2021-10-26
    soldstatus $40,000
19. 2021-10-22
    soldstatus $40,000
20. 2021-09-24
    listed $40,000
21. 2020-07-06
    soldstatus $33,000
22. 2003-08-01
    soldstatus $64,500

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

Tax reassessment forecast WI · Partial reset (capped growth)

• Current annual tax: $638 · $53/mo
• Projected year-2 tax: $874 · $73/mo
• Expected delta: +$236/yr (+$20/mo · 37.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥89°F today · 13 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,647
• − Mortgage interest: −$3,361
• − Property taxes: −$638
• − Insurance: −$300
• − Repairs & maintenance: −$1,412
• − Management: −$1,412
• − HOA: −$8,508
• − Depreciation: −$1,745
• Taxable income: $272
• Est. tax owed @ 24.0%: −$65
• After-tax cash flow: $655/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.

Schools (NCES district)

• District: Gibraltar Area School District
• NCES district ID: 5505220
• Math proficiency: 52% ▼ -1.00%
• Reading proficiency: 54% ▼ -4.00%
• Median HH income: $53,154
• Composite: 45.57/100
• National rank: #2598
• State rank: #45 of 342 in WI

Livability — Egg Harbor

• Score: 66/100
• State rank: #455
• US rank: #11512

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Egg Harbor, WI
• Population (ZIP): 1,529

Population outlook (Door County) Hauer SSP2

• Today (2025): 27,220 people
• By 2030: 26,785 · -1.6%
• By 2040: 25,167 · -7.5%
• By 2050: 23,052 · -15.3%
• By 2075: 18,981 · -30.3%
• By 2100: 14,801 · -45.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 2% Hispanic / Latino 1% Native American 1%
• Common ancestry: Portuguese 8% Romanian 8% English 7%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 3% Russian/Polish/Slavic 1%

Political lean MEDSL · Door

• 2024 margin: Toss-up / Even · D 50.6% · R 48.3% · Other 1.1%
• 2008→2024 swing: -15.1pp toward R · 2008: 17.3pp · 2024: 2.2pp
• All cycles: 2024: D+2.2 2020: D+1.4 2016: R+3.2 2012: D+7.0 2008: D+17.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.61%
• Current HPI: 235.2831
• 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

-7.0% since first listed

7 events — show timeline

• 2026-03-04 Listed $60,000 DCBRMLS
• 2026-02-27 Listed $60,000 RANW
• 2021-10-26 Sold (Public Records) $40,000 Public Records
• 2021-10-22 Sold (MLS) $40,000 DCBRMLS
• 2021-09-24 Listed $40,000 DCBRMLS
• 2020-07-06 Sold (Public Records) $33,000 Public Records
• 2003-08-01 Sold (Public Records) $64,500 Public Records

Property tax history

+0.3%/yr

Latest (2025): $638 · +7.8% YoY. Source: county tax records.