123 Center St #202 · Lake Geneva, WI 53147

$119,000

1 bd · 1.0 ba · 712 sqft · Condo · 38 Days on market

Built 2001 $271/mo HOA · 17% of rent ↓ 34% since listing

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Why this score? — see what drove the C 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 +22.1/30.0
• 1% rule +8.7/10.0
• ARV discount +7.5/15.0
• DSCR +7.1/10.0
• Livability +3.6/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

SILVER UNIT IN THE MILL CREEK HOTEL in downtown Lake Geneva. Conveniently located in the central business area with an easy walk to Geneva Lake and all the downtown has to offer. Unique shops, bars and restaurants all around. Indoor pool, fitness center, game room and outdoor patio. Extra bonus is the generous breakfast included each day. Enjoy your unit on occasion and get a great investment at the same time.

Key facts

• Fitness center
• Game room
• Outdoor patio

Tags

• INDOOR POOL
• FITNESS CENTER
• GAME ROOM
• OUTDOOR PATIO

Property features AI

Finance

• Other: Association furniture and appliances included; Seller's personal property excluded
• HOA & community: Monthly condo fee: $202; Building amenities: elevator, exercise room, indoor pool, outdoor pool, laundry facilities, security; Condominium: Mill Creek Condominium; 33 units in building/association

Exterior

• Parking: Assigned parking (1 space); Attached underground 1-car garage
• Security: Building security
• Utilities: Municipal water; Municipal sewer; Electric service
• Home design: Condo in a midrise building (3–5 stories); One-story unit; Entry on main level
• Construction: Assessor/public record for year built
• Exterior features: Wood exterior; Residential zoning

Interior

• Kitchen: Cooktop; Dishwasher; Refrigerator
• Bedrooms: Master bedroom (Main level) — 8 x 10
• Bathrooms: Shower over tub; 1 full bathroom
• Heating & cooling: Central air; Wall/sleeve air; Electric heat
• Interior features: Cable/satellite available; High-speed internet
• Laundry & utility: Laundry facilities in building

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $119k.

Deal economics

• At list price, monthly cash flow is $191 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $119k).
• Recommended offer: $115k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.2% vs local median 2.7% in Lake Geneva — 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 (#247 in WI) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A-, cost of living A-; Watch: amenities F, commute F, health & safety D-.
• Lake Geneva-Genoa City Uhs School District (town): math 27% / reading 35% proficiency, ranked #258 of 342 in WI (top 75%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Badger High (math 27% / reading 36%, grade F, #199 of 483 statewide, top 42%, 1,326 students, 34% FRL).
• Market conditions: 229 active listings in the ZIP; solid renter incomes; 474 units permitted in Walworth County in 2024 (77 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $823 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($115k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 13y 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.

Recommended offer $115,430 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.37% ✓
• Cap rate: 8.22%
• Cash-on-cash: 6.89%
• DSCR: 1.31
• GRM: 6.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -5.6%
• Equity multiple: 0.79×
• Total profit: $-6,899
• Equity at exit: $17,743

10-year hold

• IRR: 4.3%
• Equity multiple: 1.31×
• Total profit: $10,468
• Equity at exit: $10,289

Cash invested: $33,320 (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 53147

• Active inventory: 229
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $1,626 medium
• Mortgage (P&I): −$624
• Tax est. 1.5%: −$149 /mo · $1,785/yr
• Insurance: −$50
• HOA: −$271
• Vacancy / Maint / Mgmt: −$342
• Net cashflow: $191

Break-even live

Break-even rent $1,384

Max offer price $119,000

Occupancy floor 83%

Sensitivity live

Price	-10% $274	-5% $233	+0% $191	+5% $150	+10% $109
Rent	-10% $63	-5% $127	+0% $191	+5% $256	+10% $320
Rate	-1.0pp $251	-0.5pp $222	base $191	+0.5pp $161	+1.0pp $129

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: $29,750
• Closing costs: $3,570
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $271 · $3,252/yr
• Likely covers: poolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 23 events

1. 2026-06-19
   days on market $119,000 Active 38 DOM
2. 2026-06-18
   days on market $119,000 Active 37 DOM
3. 2026-06-17
   days on market $119,000 Active 36 DOM
4. 2026-06-16
   days on market $119,000 Active 35 DOM
5. 2026-06-15
   days on market $119,000 Active 34 DOM
6. 2026-06-14
   days on market $119,000 Active 32 DOM
7. 2026-06-12
   days on market $119,000 Active 31 DOM
8. 2026-06-09
   days on market $119,000 Active 28 DOM
9. 2026-06-08
   days on market $119,000 Active 27 DOM
10. 2026-06-07
    days on market $119,000 Active 26 DOM
11. 2026-06-05
    days on market $119,000 Active 23 DOM
12. 2026-06-03
    days on market $119,000 Active 22 DOM
13. 2026-06-02
    days on market $119,000 Active 21 DOM
14. 2026-06-01
    days on market $119,000 Active 20 DOM
15. 2026-05-31
    days on market $119,000 Active 19 DOM
16. 2026-05-30
    days on market $119,000 Active 18 DOM
17. 2026-05-11
    listed $119,000 Active
18. 2026-01-01
    historical 413-char remark

    Show marketing remark (413 chars)

    SILVER UNIT IN THE MILL CREEK HOTEL in downtown Lake Geneva. Conveniently located in the central business area with an easy walk to Geneva Lake and all the downtown has to offer. Unique shops, bars and restaurants all around. Indoor pool, fitness center, game room and outdoor patio. Extra bonus is the generous breakfast included each day. Enjoy your unit on occasion and get a great investment at the same time.

19. 2025-06-12
    listed $135,900 Active 413-char remark

    Show marketing remark (413 chars)

    SILVER UNIT IN THE MILL CREEK HOTEL in downtown Lake Geneva. Conveniently located in the central business area with an easy walk to Geneva Lake and all the downtown has to offer. Unique shops, bars and restaurants all around. Indoor pool, fitness center, game room and outdoor patio. Extra bonus is the generous breakfast included each day. Enjoy your unit on occasion and get a great investment at the same time.

20. 2013-07-11
    historical 181-char remark

    Show marketing remark (181 chars)

    Beautiful second floor condo unit in the heart of Lake Geneva. Able to use exercise room, pool, hot-tub, and upper ground parking. Excellent rental program for return on Investment.

21. 2013-07-11
    listed $176,900 181-char remark

    Show marketing remark (181 chars)

    Beautiful second floor condo unit in the heart of Lake Geneva. Able to use exercise room, pool, hot-tub, and upper ground parking. Excellent rental program for return on Investment.

22. 2013-07-11
    listed $179,900

    Show marketing remark (181 chars)

    Beautiful second floor condo unit in the heart of Lake Geneva. Able to use exercise room, pool, hot-tub, and upper ground parking. Excellent rental program for return on Investment.

23. 2013-07-11
    historical

    Show marketing remark (181 chars)

    Beautiful second floor condo unit in the heart of Lake Geneva. Able to use exercise room, pool, hot-tub, and upper ground parking. Excellent rental program for return on Investment.

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥103°F today · 13 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,516
• − Mortgage interest: −$6,666
• − Property taxes: −$1,785
• − Insurance: −$595
• − Repairs & maintenance: −$1,561
• − Management: −$1,561
• − HOA: −$3,252
• − Depreciation: −$3,462
• Taxable income: $634
• Est. tax owed @ 24.0%: −$152
• After-tax cash flow: $2,145/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: Lake Geneva-Genoa City Uhs School District
• NCES district ID: 5507650
• Math proficiency: 27% ▼ -5.00%
• Reading proficiency: 35% ▼ -4.00%
• Median HH income: $52,486
• Composite: 27.25/100
• National rank: #7013
• State rank: #258 of 342 in WI

Livability — Lake Geneva

• Score: 72/100
• State rank: #247
• US rank: #6394

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lake Geneva, WI
• County: Walworth County · 37,189 people
• City population: 18,638
• Metro: Whitewater, WI
• Population (ZIP): 18,638
• Household income: $83,566
• Rent vs Own: 30.7% rent · 69.3% own
• Severe rent burden: 526.0

Population outlook (Walworth County) Hauer SSP2

• Today (2025): 104,803 people
• By 2030: 105,459 · +0.6%
• By 2040: 104,991 · +0.2%
• By 2050: 102,207 · -2.5%
• By 2075: 97,177 · -7.3%
• By 2100: 89,043 · -15.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Hispanic / Latino 12% Two or more races 8%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Romanian 8% Portuguese 6% Lithuanian 3%
• Foreign-born: 10% · Canada
• Languages at home: 88% English-only · Spanish 8% Russian/Polish/Slavic 2% German/W. Germanic 1%

Political lean MEDSL · Walworth

• 2024 margin: Strong R (+22.2) · D 38.3% · R 60.5% · Other 1.2%
• 2008→2024 swing: -19.6pp toward R · 2008: -2.6pp · 2024: -22.2pp
• All cycles: 2024: R+22.2 2020: R+19.2 2016: R+20.1 2012: R+12.4 2008: R+2.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -159.25%
• Current HPI: 243.6097
• Rent YoY: —
• Metro: Whitewater, 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

-33.9% since first listed

7 events — show timeline

• 2026-05-11 Listed $119,000 METROMLS
• 2026-01-01 Listing Removed — METROMLS
• 2025-06-12 Listed $135,900 METROMLS
• 2013-07-11 Listed $176,900 METROMLS
• 2013-07-11 Listing Removed — METROMLS
• 2013-07-11 Listing Removed — METROMLS
• 2013-07-11 Listed $179,900 METROMLS