815 Eastown Mnr · Elkhorn, WI 53121

$99,900

3 bd · 2.0 ba · 1,284 sqft · Other · 28 Days on market

Built 1980 6,969 sqft lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +3.7/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

New price! Bright and sunny floorplan. Large rooms with access to rear covered deck. Full appliance package. Master bedroom ensuite with large soaking tub and separate shower. With some updating this home will sparkle! Flooring allowance from seller, so imagine the possibilities. Priced almost $40K under assessed value. New gutters in 2011. Parking is 1-car detached garage and 1-car carport. Stop renting and build equity today! Financing available!

Key facts

• New furnace
• New a/c
• New roof

Tags

• NEW ROOF
• NEW FURNACE
• NEW A/C
• NEW FRONT DECK
• PARTIAL PLUMBING UPDATES

Property features AI

Finance

• Other: All items left at the property are included after closing; Sellers' personal property excluded

Exterior

• Parking: Detached 2-car garage; Two garage parking spaces
• Utilities: Municipal water; Municipal sewer; Natural gas service
• Home design: Single-family home; One-story
• Construction: Assessor/public record used for year built
• Exterior features: Vinyl exterior; Deck; Lot under 1/2 acre (approximately 0.16 acre); Residential zoning

Interior

• Kitchen: Kitchen on main level (12 x 14)
• Bedrooms: Master bedroom on main level (11 x 14); Second bedroom on main level (11 x 12); Third bedroom on main level (10 x 9)
• Bathrooms: Two full bathrooms; Master bathroom; Tub-only and shower-over-tub options; Separate shower stall
• Heating & cooling: Central air; Forced air heating; Natural gas heat
• Interior features: Living room (16 x 12); Dining room (18 x 14); Main-level layout; No basement (slab foundation)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $100k.

Deal economics

• At list price, monthly cash flow is $662 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $98k (1.5% below list) — sets the bar for market timing.
• Cap rate 14.2% vs local median 2.5% in Elkhorn — 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 (#219 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-.
• Elkhorn Area School District (town): math 41% / reading 42% proficiency, ranked #128 of 342 in WI (top 37%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 89 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $691 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 $28k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($98k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 13y ago; this cycle's ask has dropped $25k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $98,401 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 1.71% ✓
• Cap rate: 14.24%
• Cash-on-cash: 28.39%
• DSCR: 2.26
• GRM: 4.9

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: 22.6%
• Equity multiple: 1.93×
• Total profit: $25,986
• Equity at exit: $14,895

10-year hold

• IRR: 30.6%
• Equity multiple: 3.75×
• Total profit: $77,006
• Equity at exit: $8,638

Cash invested: $27,972 (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 53121

• Home prices YoY: -34.0%
• Active inventory: 89
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,712 medium
• Mortgage (P&I): −$524
• Tax est. 1.5%: −$125 /mo · $1,498/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$359
• Net cashflow: $662

Break-even live

Break-even rent $874

Max offer price $99,900

Occupancy floor 56%

Sensitivity live

Price	-10% $731	-5% $696	+0% $662	+5% $627	+10% $593
Rent	-10% $527	-5% $594	+0% $662	+5% $729	+10% $797
Rate	-1.0pp $712	-0.5pp $687	base $662	+0.5pp $636	+1.0pp $610

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
112 S Wisconsin St Unit 205 Elkhorn, WI	2.0	1.0	916	$1,400	$1.53	45d	1	1.47mi

Listing history 4 events

1. 2026-05-08
   price $109,000 635-char remark
2. 2026-05-01
   listed $124,900 Active 635-char remark
3. 2013-08-07
   listed $54,900 452-char remark

   Show marketing remark (452 chars)

   New price! Bright and sunny floorplan. Large rooms with access to rear covered deck. Full appliance package. Master bedroom ensuite with large soaking tub and separate shower. With some updating this home will sparkle! Flooring allowance from seller, so imagine the possibilities. Priced almost $40K under assessed value. New gutters in 2011. Parking is 1-car detached garage and 1-car carport. Stop renting and build equity today! Financing available!

4. 2013-08-07
   historical 452-char remark

   Show marketing remark (452 chars)

   New price! Bright and sunny floorplan. Large rooms with access to rear covered deck. Full appliance package. Master bedroom ensuite with large soaking tub and separate shower. With some updating this home will sparkle! Flooring allowance from seller, so imagine the possibilities. Priced almost $40K under assessed value. New gutters in 2011. Parking is 1-car detached garage and 1-car carport. Stop renting and build equity today! Financing available!

ⓘ 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 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥102°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: $20,539
• − Mortgage interest: −$5,596
• − Property taxes: −$1,498
• − Insurance: −$500
• − Repairs & maintenance: −$1,643
• − Management: −$1,643
• − Depreciation: −$2,906
• Taxable income: $6,753
• Est. tax owed @ 24.0%: −$1,621
• After-tax cash flow: $6,321/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: Elkhorn Area School District
• NCES district ID: 5504290
• Math proficiency: 41% ▼ -6.00%
• Reading proficiency: 42% ▼ -2.00%
• Median HH income: $60,039
• Composite: 36.7/100
• National rank: #4599
• State rank: #128 of 342 in WI

Livability — Elkhorn

• Score: 72/100
• State rank: #219
• US rank: #5804

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Elkhorn, WI
• County: Walworth County · 37,189 people
• Metro: Whitewater, WI
• Population (ZIP): 18,551
• Household income: $85,643
• Rent vs Own: 27.9% rent · 72.1% own
• Severe rent burden: 366.0

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 (84%)
• Race & ethnicity: White 84% Hispanic / Latino 11% Two or more races 8%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Romanian 8% Portuguese 4% Lithuanian 4%
• Foreign-born: 5% · Canada
• Languages at home: 92% English-only · Spanish 7%

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: ▼ -123.43%
• Current HPI: 239.2064
• 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

+82.0% since first listed

6 events — show timeline

• 2026-05-30 Listing Removed — METROMLS
• 2026-05-19 Price Changed $99,900 METROMLS
• 2026-05-08 Price Changed $109,000 METROMLS
• 2026-05-01 Listed $124,900 METROMLS
• 2013-08-07 Listing Removed — METROMLS
• 2013-08-07 Listed $54,900 METROMLS