1004 Chrysler Dr · Mishicot, WI 54228

$178,900

2 bd · 1.0 ba · 1,052 sqft · Condo · 39 Days on market

Built 2002 Fair condition

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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 +29.9/30.0
• DSCR +10.0/10.0
• 1% rule +8.4/10.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

''Welcome home to tranquil, stress-free living in this 2 bedroom, 1 bath condo on the outskirts of Mishicot. Featuring rich warm Oak cabinets in the spacious kitchen, main floor laundry and located on a quiet no-thru street. Relax in your private outdoor living space or take a stroll through the charming village, just steps away from local amenities; the 45 hole golf course at Fox Hills Resort is right around the corner, and minutes from Lake Michigan beaches. Only 35 minutes from Lambeau Field and 1.5 hours north of Milwaukee, this is the ultimate spot for golfers, vacationers, or those seeking a peaceful lifestyle near Lake Michigan. ''

Key facts

• Oak cabinets
• No-thru street
• Main floor laundry

Tags

• OAK CABINETS
• MAIN FLOOR LAUNDRY
• PRIVATE OUTDOOR LIVING SPACE
• NO-THRU STREET
• LOCAL AMENITIES
• GOLF COURSE

Property features AI

Finance

• Other: Part of a 2-unit building; 1 unit in the association
• HOA & community: Monthly condo fee: $0; Pets permitted

Exterior

• Parking: Attached 1-car garage; Total garage parking about 1.5 spaces
• Utilities: Municipal water; Municipal sewer; Natural gas service
• Home design: Condo unit in a 1-story building; Side-by-side unit; Condominium: Chrysler Dr Condo; Located in the village of Mishicot (zoned residential)
• Construction: Condo (assessor/public record for year built)
• Exterior features: Patio/porch; Brick, brick/stone and vinyl exterior

Interior

• Kitchen: Dishwasher; Range; Refrigerator; Stove, refrigerator, dishwasher included
• Bedrooms: Main level primary bedroom, 13 x 12; Main level second bedroom, 13 x 11
• Bathrooms: Full bath with shower over tub
• Heating & cooling: Central air; Forced air heat; Natural gas heating
• Interior features: Owned water filtration system; Water softener; In-unit laundry
• Laundry & utility: In-unit laundry (washer and dryer excluded from sale); Water softener; Owned water filtration system

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $179k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $660 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $179k).
• Recommended offer: $174k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 70/100 on livability (#300 in WI) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety D-.
• Mishicot School District (rural): math 47% / reading 49% proficiency, ranked #61 of 342 in WI (top 18%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 18% free/reduced lunch — higher-income household profile.
• Zoned schools: Schultz Elementary (math 42% / reading 42%, grade F, #433 of 1,041 statewide, top 46%, 448 students, 26% FRL); Mishicot Middle (math 52% / reading 57%, grade B-, #37 of 383 statewide, top 10%, 191 students, 25% FRL); Mishicot High (math 42% / reading 42%, grade F, #74 of 483 statewide, top 18%, 279 students, 24% FRL).
• Market conditions: 13 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 100 units permitted in Manitowoc County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Manitowoc County population projected at -21% 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 $50k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 39 days — a 3% lower offer ($174k) is reasonable based on typical stale-listing flexibility.

Recommended offer $173,533 (3.0% below list)

Questions for the listing agent

1. It's been on market 39 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.34% ✓
• Cap rate: 10.72%
• Cash-on-cash: 15.80%
• DSCR: 1.70
• GRM: 6.2

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: 6.7%
• Equity multiple: 1.26×
• Total profit: $13,061
• Equity at exit: $26,675

10-year hold

• IRR: 16.0%
• Equity multiple: 2.31×
• Total profit: $65,620
• Equity at exit: $15,468

Cash invested: $50,092 (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 54228

• Home prices YoY: -26.8%
• Active inventory: 13
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $2,400 medium
• Mortgage (P&I): −$938
• Tax est. 1.5%: −$224 /mo · $2,684/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$504
• Net cashflow: $660

Break-even live

Break-even rent $1,565

Max offer price $178,900

Occupancy floor 68%

Sensitivity live

Price	-10% $783	-5% $721	+0% $660	+5% $598	+10% $536
Rent	-10% $470	-5% $565	+0% $660	+5% $754	+10% $849
Rate	-1.0pp $750	-0.5pp $705	base $660	+0.5pp $613	+1.0pp $566

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: $44,725
• Closing costs: $5,367
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
239 N Park Ln Mishicot, WI	2.0	2.0	1118	$2,400	$2.15	22d	1	0.89mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-06-21
   days on market $178,900 Active 39 DOM
2. 2026-06-19
   days on market $178,900 Active 37 DOM
3. 2026-06-18
   days on market $178,900 Active 36 DOM
4. 2026-06-17
   days on market $178,900 Active 35 DOM
5. 2026-06-16
   days on market $178,900 Active 34 DOM
6. 2026-06-15
   days on market $178,900 Active 33 DOM
7. 2026-06-14
   days on market $178,900 Active 31 DOM
8. 2026-06-12
   days on market $178,900 Active 30 DOM
9. 2026-06-09
   days on market $178,900 Active 27 DOM
10. 2026-06-08
    days on market $178,900 Active 26 DOM
11. 2026-06-07
    days on market $178,900 Active 25 DOM
12. 2026-06-03
    days on market $178,900 Active 21 DOM
13. 2026-06-02
    days on market $178,900 Active 20 DOM
14. 2026-06-01
    days on market $178,900 Active 19 DOM
15. 2026-05-31
    days on market $178,900 Active 18 DOM
16. 2026-05-30
    days on market $178,900 Active 17 DOM
17. 2026-05-13
    listed $178,900 Active 646-char remark

ⓘ 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: $28,800
• − Mortgage interest: −$10,021
• − Property taxes: −$2,684
• − Insurance: −$894
• − Repairs & maintenance: −$2,304
• − Management: −$2,304
• − Depreciation: −$5,204
• Taxable income: $5,388
• Est. tax owed @ 24.0%: −$1,293
• After-tax cash flow: $6,623/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 · 18 photos

Fair 45/100 Moderate rehab

This home requires moderate renovations to update the kitchen and bathroom, and improve the overall curb appeal. The property has a good foundation and structure, but the dated interior and exterior need attention.

Repairs flagged

• Moderate kitchen cabinets — dated and worn appearance
• Moderate kitchen appliances — outdated and worn appearance
• Minor bathroom fixtures — basic and functional

Value-add opportunities

• Resale update kitchen with new cabinets and countertops — modern kitchen will attract more buyers
• Resale update bathroom fixtures — updated bathroom will appeal to potential buyers
• Both landscape and add curb appeal — improved landscaping will increase both resale and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and worn appearance	Moderate	$3,000–15,000
kitchen appliances · outdated and worn appearance	Moderate	$3,000–15,000
bathroom fixtures · basic and functional	Minor	$500–3,000
Total estimated repair cost · 3 items		$6,500–33,000

Value-add ROI direction

• Resale update kitchen with new cabinets and countertops — modern kitchen will attract more buyers ↑
• Resale update bathroom fixtures — updated bathroom will appeal to potential buyers ↑
• Both landscape and add curb appeal — improved landscaping will increase both resale and rental value ↑

ⓘ 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: Mishicot School District
• NCES district ID: 5509750
• Math proficiency: 47% ▲ 3.00%
• Reading proficiency: 49% ▲ 3.00%
• Median HH income: $59,706
• Composite: 42.06/100
• National rank: #3326
• State rank: #61 of 342 in WI

Livability — Mishicot

• Score: 70/100
• State rank: #300
• US rank: #7879

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mishicot, WI
• Population (ZIP): 2,886

Population outlook (Manitowoc County) Hauer SSP2

• Today (2025): 76,561 people
• By 2030: 74,096 · -3.2%
• By 2040: 67,752 · -11.5%
• By 2050: 60,731 · -20.7%
• By 2075: 48,723 · -36.4%
• By 2100: 39,250 · -48.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Romanian 14% English 5% Lithuanian 4%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Manitowoc

• 2024 margin: Strong R (+23.4) · D 37.6% · R 61.0% · Other 1.4%
• 2008→2024 swing: -30.9pp toward R · 2008: 7.5pp · 2024: -23.4pp
• All cycles: 2024: R+23.4 2020: R+23.2 2016: R+21.7 2012: R+2.8 2008: D+7.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -79.14%
• Current HPI: 216.5486
• 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

1 event — show timeline

• 2026-05-13 Listed $178,900 METROMLS