19900 128th St #150 · Bristol, WI 53104

$109,800

2 bd · 2.0 ba · 991 sqft · Manufactured · 328 Days on market

Built 2025

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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
• DSCR +10.0/10.0
• 1% rule +9.6/10.0
• ARV discount +7.5/15.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

55+ age qualified community. Welcome to Rainbow Lake Manor a 55+ age-qualified active and vibrant community, where you can find yourself in your dream home. We have a stunning, brand new, 2025 2 bed, 2 bath home for sale featuring 991sq ft of beautifully designed living space. Located in Bristol, this property offers the perfect blend of modern amenities and timeless charm. Step inside to find an open-concept floor plan, resilient flooring, and natural light. The full kitchen boasts features like new Whirlpool appliances and ample cabinetry, perfect for both everyday living and entertaining. The spacious primary suite offers a peaceful retreat, complete with features like large vanity, walk

Key facts

• Clubhouse
• Walking trails
• Built 2025

Tags

• OPEN CONCEPT FLOOR PLAN
• NEW WHIRLPOOL APPLIANCES
• LOW MAINTENANCE LANDSCAPING
• CLUBHOUSE
• WALKING TRAILS
• BEAUTIFULLY STOCKED LAKE

Property features AI

Finance

• Financial info: List price $109,800

Exterior

• Home design: Spec new construction — Plan: Madison; Single-story unit (condo/townhome style entry)
• Exterior features: Living area approximately 991

Interior

• Bedrooms: 2 bedrooms
• Bathrooms: 2 full bathrooms
• Interior features: Open living area

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $110k.

Deal economics

• At list price, monthly cash flow is $508 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Recommended offer: $97k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.8% vs local median 1.8% in Bristol — 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 68/100 on livability (#371 in WI) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment A; Watch: amenities F, commute F, health & safety F.
• Central/Westosha Uhs School District (rural): math 36% / reading 43% proficiency, ranked #136 of 342 in WI (top 40%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 20 active listings in the ZIP; 259 units permitted in Kenosha County in 2024 (8 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $759 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 328 days — a 12% lower offer ($97k) is reasonable based on typical stale-listing flexibility.

Recommended offer $96,624 (12.0% below list)

Questions for the listing agent

1. It's been on market 328 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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 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: 1.46% ✓
• Cap rate: 11.84%
• Cash-on-cash: 19.82%
• DSCR: 1.88
• GRM: 5.7

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: 11.9%
• Equity multiple: 1.47×
• Total profit: $14,578
• Equity at exit: $16,372

10-year hold

• IRR: 20.9%
• Equity multiple: 2.77×
• Total profit: $54,444
• Equity at exit: $9,493

Cash invested: $30,744 (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 53104

• Home prices YoY: -31.0%
• Active inventory: 20
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,603 medium
• Mortgage (P&I): −$576
• Tax est. 1.5%: −$137 /mo · $1,647/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$337
• Net cashflow: $508

Break-even live

Break-even rent $961

Max offer price $109,800

Occupancy floor 63%

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: $27,450
• Closing costs: $3,294
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-18
   days on market $109,800 Active 328 DOM
2. 2026-06-17
   days on market $109,800 Active 327 DOM
3. 2026-06-16
   days on market $109,800 Active 326 DOM
4. 2026-06-15
   days on market $109,800 Active 325 DOM
5. 2026-06-13
   days on market $109,800 Active 323 DOM
6. 2026-06-13
   days on market $109,800 Active 322 DOM
7. 2026-06-09
   days on market $109,800 Active 319 DOM
8. 2026-06-08
   days on market $109,800 Active 318 DOM
9. 2026-06-07
   days on market $109,800 Active 317 DOM
10. 2026-06-04
    days on market $109,800 Active 314 DOM
11. 2026-06-03
    days on market $109,800 Active 313 DOM
12. 2026-06-02
    days on market $109,800 Active 312 DOM
13. 2026-06-01
    days on market $109,800 Active 311 DOM
14. 2026-05-31
    days on market $109,800 Active 310 DOM

ⓘ 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 4/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥101°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: $19,241
• − Mortgage interest: −$6,151
• − Property taxes: −$1,647
• − Insurance: −$549
• − Repairs & maintenance: −$1,539
• − Management: −$1,539
• − Depreciation: −$3,194
• Taxable income: $4,621
• Est. tax owed @ 24.0%: −$1,109
• After-tax cash flow: $4,985/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: Central/Westosha Uhs School District
• NCES district ID: 5513290
• Math proficiency: 36% ▼ -5.00%
• Reading proficiency: 43% ▼ -7.00%
• Median HH income: $67,506
• Composite: 35.73/100
• National rank: #4859
• State rank: #136 of 342 in WI

Livability — Bristol

• Score: 68/100
• State rank: #371
• US rank: #9342

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: Bristol, WI
• City population: 5,807
• Population (ZIP): 5,807

Population outlook (Kenosha County) Hauer SSP2

• Today (2025): 174,032 people
• By 2030: 174,923 · +0.5%
• By 2040: 173,895 · -0.1%
• By 2050: 170,102 · -2.3%
• By 2075: 162,952 · -6.4%
• By 2100: 154,781 · -11.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 4% Hispanic / Latino 4%
• Common ancestry: Romanian 7% Lithuanian 2% Portuguese 2%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 2% German/W. Germanic 2% French/Haitian/Cajun 1%

Political lean MEDSL · Kenosha

• 2024 margin: Lean R (+6.2) · D 46.2% · R 52.5% · Other 1.3%
• 2008→2024 swing: -24.3pp toward R · 2008: 18.1pp · 2024: -6.2pp
• All cycles: 2024: R+6.2 2020: R+3.1 2016: R+0.3 2012: D+12.3 2008: D+18.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -135.14%
• Current HPI: 300.4447
• 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