1200 River Rd · Sparta, WI 54656

$72,000

3 bd · 2.0 ba · 1,280 sqft · SingleFamily · 28 Days on market

Built 1994 Fair condition ↓ 42% since listing

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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
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Schools +2.3/10.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Very well maintained 2019 mobile Home with 3 bedrooms, 2 bathrooms and is spacious with open floor plan. Mobile also features a car port and fenced in lot complete with garden shed! Lot rent is $477/Mo. and community application required.

Key facts

• Open concept
• Concrete drive
• Private bathroom

Tags

• PRIVATE BATHROOM
• OPEN CONCEPT
• SEPARATE LAUNDRY ROOM
• MAINTENANCE FREE DECK
• CONCRETE DRIVE

Property features AI

Finance

• Other: Zoning: R2-3

Exterior

• Parking: Detached 1-car garage with opener
• Utilities: Municipal water; Municipal sewer; Natural gas
• Home design: Single-family home; One-story
• Construction: Information on year built: See remarks
• Exterior features: Deck; Vinyl exterior

Interior

• Kitchen: Range/oven; Refrigerator; Garbage disposal; Breakfast bar
• Bedrooms: Master bedroom 14 x 16 (Main level); Bedroom 2 11 x 11 (Main level); Bedroom 3 10 x 9 (Main level)
• Bathrooms: Two full bathrooms; Master bathroom with tub/shower combo
• Heating & cooling: Forced air heating; Central air conditioning; Natural gas heating
• Interior features: Walk-in closets; Skylights
• Laundry & utility: Washer and dryer included

🏷️ Possibly a rental listed for sale. The $72,000 price doesn't fit this home's estimated sale value (~$225,280) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $72k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $72k).
• Recommended offer: $71k (1.5% below list) — sets the bar for market timing.
• Cap rate 24.8% vs local median 5.3% in Sparta — 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 77/100 on livability (#124 in WI, #3,230 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D, amenities F, commute F.
• Sparta Area School District (town): math 22% / reading 30% proficiency, ranked #302 of 342 in WI (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Sparta High (math 12% / reading 27%, grade F, #385 of 483 statewide, top 82%, 837 students, 42% FRL) — zoned schools at 42% FRL track the district average.
• Market conditions: 70 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 93 units permitted in Monroe County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $498 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Monroe County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($71k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $70,920 (1.5% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
4. 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.
5. 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.
6. 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: 2.83% ✓
• Cap rate: 24.82%
• Cash-on-cash: 66.17%
• DSCR: 3.94
• GRM: 2.9

CMA / ARV

• ARV (on-the-fly): $225,280
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1200 River Rd #8	0.00mi	3/2.0	1,280 (0%)	6mo	$60,000	$47	95
629 Stelting St	0.47mi	3/1.0	1,200 (-6%)	1mo	$155,000	$129	63
916 St Anne St	0.60mi	3/2.0	1,300 (+2%)	12mo	$275,000	$212	60
916 S Water St	0.72mi	3/1.5	1,304 (+2%)	5mo	$218,000	$167	57
413 S Myrtle St	0.67mi	3/1.5	1,200 (-6%)	2mo	$156,000	$130	55
504 S L St	0.66mi	3/1.0	1,250 (-2%)	8mo	$220,000	$176	55
1962 River Rd	0.64mi	3/2.0	1,200 (-6%)	12mo	$250,000	$208	50
2041 Cedarwood Ave	0.71mi	3/2.0	1,256 (-2%)	19mo	$315,000	$251	48
100 Avon Unit Road, Unit 122	0.67mi	3/2.0	1,200 (-6%)	14mo	$65,000	$54	47
320 Stelting St	0.65mi	3/1.5	1,200 (-6%)	21mo	$144,000	$120	40
723 Randy Rd	0.44mi	2/2.0 (-1)	1,100 (-14%)	14mo	$260,000	$236	40
1104 Jefferson Ave	0.66mi	3/1.5	1,464 (+14%)	10mo	$315,000	$215	35

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 65.4%
• Equity multiple: 3.93×
• Total profit: $59,161
• Equity at exit: $10,735

10-year hold

• IRR: 69.7%
• Equity multiple: 8.08×
• Total profit: $142,805
• Equity at exit: $6,225

Cash invested: $20,160 (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 54656

• Active inventory: 70
• Price-to-rent: 2.9×

Monthly cashflow live

• Estimated rent: $2,037 medium
• Mortgage (P&I): −$378
• Tax est. 1.5%: −$90 /mo · $1,080/yr
• Insurance: −$30
• HOA: −$0
• Vacancy / Maint / Mgmt: −$428
• Net cashflow: $1,112

Break-even live

Break-even rent $630

Max offer price $72,000

Occupancy floor 40%

Sensitivity live

Price	-10% $1,161	-5% $1,136	+0% $1,112	+5% $1,087	+10% $1,062
Rent	-10% $951	-5% $1,031	+0% $1,112	+5% $1,192	+10% $1,273
Rate	-1.0pp $1,148	-0.5pp $1,130	base $1,112	+0.5pp $1,093	+1.0pp $1,074

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: $18,000
• Closing costs: $2,160
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
703 Stelting St Sparta, WI	3.0	2.0	1368	$2,350	$1.72	15d	1	0.46mi
604 N Black River St Sparta, WI	2.0	1.0	900	$949	$1.05	24d	1	1.20mi

Listing history 21 events

1. 2026-06-18
   days on market $72,000 Active 28 DOM
2. 2026-06-17
   days on market $72,000 Active 27 DOM
3. 2026-06-16
   days on market $72,000 Active 26 DOM
4. 2026-06-15
   days on market $72,000 Active 25 DOM
5. 2026-06-14
   days on market $72,000 Active 23 DOM
6. 2026-06-13
   days on market $72,000 Active 22 DOM
7. 2026-06-10
   days on market $72,000 Active 20 DOM
8. 2026-06-09
   days on market $72,000 Active 19 DOM
9. 2026-06-08
   days on market $72,000 Active 18 DOM
10. 2026-06-07
    days on market $72,000 Active 17 DOM
11. 2026-06-03
    days on market $72,000 Active 13 DOM
12. 2026-06-02
    days on market $72,000 Active 12 DOM
13. 2026-06-01
    days on market $72,000 Active 11 DOM
14. 2026-05-31
    days on market $72,000 Active 10 DOM
15. 2026-05-31
    days on market $72,000 Active 9 DOM
16. 2026-05-20
    listed $72,000 Active
17. 2026-05-01
    soldstatus Sold 238-char remark

    Show marketing remark (238 chars)

    Very well maintained 2019 mobile Home with 3 bedrooms, 2 bathrooms and is spacious with open floor plan. Mobile also features a car port and fenced in lot complete with garden shed! Lot rent is $477/Mo. and community application required.

18. 2026-03-09
    status Pending 238-char remark

    Show marketing remark (238 chars)

    Very well maintained 2019 mobile Home with 3 bedrooms, 2 bathrooms and is spacious with open floor plan. Mobile also features a car port and fenced in lot complete with garden shed! Lot rent is $477/Mo. and community application required.

19. 2026-02-23
    price $95,000 238-char remark

    Show marketing remark (238 chars)

    Very well maintained 2019 mobile Home with 3 bedrooms, 2 bathrooms and is spacious with open floor plan. Mobile also features a car port and fenced in lot complete with garden shed! Lot rent is $477/Mo. and community application required.

20. 2025-11-04
    price $115,000 238-char remark

    Show marketing remark (238 chars)

    Very well maintained 2019 mobile Home with 3 bedrooms, 2 bathrooms and is spacious with open floor plan. Mobile also features a car port and fenced in lot complete with garden shed! Lot rent is $477/Mo. and community application required.

21. 2025-10-09
    listed $125,000 Active 238-char remark

    Show marketing remark (238 chars)

    Very well maintained 2019 mobile Home with 3 bedrooms, 2 bathrooms and is spacious with open floor plan. Mobile also features a car port and fenced in lot complete with garden shed! Lot rent is $477/Mo. and community application required.

ⓘ 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: $24,443
• − Mortgage interest: −$4,033
• − Property taxes: −$1,080
• − Insurance: −$360
• − Repairs & maintenance: −$1,955
• − Management: −$1,955
• − Depreciation: −$2,095
• Taxable income: $12,964
• Est. tax owed @ 24.0%: −$3,111
• After-tax cash flow: $10,228/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 · 12 photos

Fair 45/100 Moderate rehab

This mobile home requires moderate repairs and updates to its exterior and interior to improve its condition and value.

Repairs flagged

• Major siding — Severe weathering and peeling
• Major paint — Peeling paint on exterior
• Moderate kitchen cabinets — Older cabinets in need of updating
• Moderate bathroom fixtures — Older fixtures in need of replacement
• Moderate flooring — Carpeted floors in need of replacement

Value-add opportunities

• Both new siding and paint — Enhances curb appeal and value
• Both new kitchen cabinets and flooring — Modernizes the space and increases value
• Both new bathroom fixtures — Improves functionality and aesthetics
• Both landscaping and curb appeal — Enhances the home's overall appearance

Renovation cost estimate screening

Repair item	Severity	Est. cost
siding · Severe weathering and peeling	Major	$15,000–50,000
paint · Peeling paint on exterior	Major	$15,000–50,000
kitchen cabinets · Older cabinets in need of updating	Moderate	$3,000–15,000
bathroom fixtures · Older fixtures in need of replacement	Moderate	$3,000–15,000
flooring · Carpeted floors in need of replacement	Moderate	$3,000–15,000
Total estimated repair cost · 5 items		$39,000–145,000

Value-add ROI direction

• Both new siding and paint — Enhances curb appeal and value ↑
• Both new kitchen cabinets and flooring — Modernizes the space and increases value ↑
• Both new bathroom fixtures — Improves functionality and aesthetics ↑
• Both landscaping and curb appeal — Enhances the home's overall appearance ↑

ⓘ 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: Sparta Area School District
• NCES district ID: 5514160
• Math proficiency: 22% ▼ -9.00%
• Reading proficiency: 30% ▼ -2.00%
• Median HH income: $51,340
• Composite: 22.99/100
• National rank: #7982
• State rank: #302 of 342 in WI

Livability — Sparta

• Score: 77/100
• State rank: #124
• US rank: #3230

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sparta, WI
• Population (ZIP): 18,068

Population outlook (Monroe County) Hauer SSP2

• Today (2025): 45,682 people
• By 2030: 45,187 · -1.1%
• By 2040: 43,768 · -4.2%
• By 2050: 41,596 · -8.9%
• By 2075: 35,555 · -22.2%
• By 2100: 28,278 · -38.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Hispanic / Latino 6% Two or more races 4% Black 2%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Portuguese 14% Romanian 4% Slovak 3%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 4% Other Indo-European 0%

Political lean MEDSL · Monroe

• 2024 margin: Strong R (+26.1) · D 36.3% · R 62.5% · Other 1.2%
• 2008→2024 swing: -34.1pp toward R · 2008: 8.0pp · 2024: -26.1pp
• All cycles: 2024: R+26.1 2020: R+23.6 2016: R+22.5 2012: R+0.7 2008: D+8.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -154.23%
• Current HPI: 214.4606
• 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

-42.4% since first listed

6 events — show timeline

• 2026-05-20 Listed $72,000 SCWMLS
• 2026-05-01 Sold (MLS) — SCWMLS
• 2026-03-09 Pending — SCWMLS
• 2026-02-23 Price Changed $95,000 SCWMLS
• 2025-11-04 Price Changed $115,000 SCWMLS
• 2025-10-09 Listed $125,000 SCWMLS