927 Miller Street Site #7 · Kewaunee, WI 54216

$20,800

3 bd · 1.0 ba · 980 sqft · Manufactured · 7 Days on market

Built 2026 Fair condition

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Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.7/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.0/5.0
• Appreciation +0.0/10.0

Listing remarks

* THIS IS A RESALE LISTING * You'll love living in this 3 bedroom, 1 bathroom home within a wonderful family-friendly community. Check out the awesome amenities your community has to offer such as community events, , , and more! This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

Key facts

• Built 2026
• Listed 6 days

Property features AI

Finance

• Financial info: List price $20,800

Exterior

• Utilities: Natural gas service
• Home design: Single-family property (spec build)
• Exterior features: Living area approximately 980 (listed)

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating
• Interior features: Spec new construction home

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath manufactured listed at $21k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $613 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($958 rent vs $21k).

Location & tenants

• Location reads 73/100 on livability (#210 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-.
• Kewaunee School District (town): math 34% / reading 31% proficiency, ranked #250 of 342 in WI (top 73%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 18 active listings in the ZIP; 58 units permitted in Kewaunee County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $144 of loan paydown is wiped out by about $624 of value loss. Plan a longer hold.
• Kewaunee County population projected at -20% 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 $6k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $20,800

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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 4.61% ✓
• Cap rate: 41.67%
• Cash-on-cash: 126.36%
• DSCR: 6.62
• GRM: 1.8

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: —
• Equity multiple: 7.13×
• Total profit: $35,704
• Equity at exit: $3,101

10-year hold

• IRR: —
• Equity multiple: 14.98×
• Total profit: $81,446
• Equity at exit: $1,798

Cash invested: $5,824 (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 54216

• Home prices YoY: -30.3%
• Active inventory: 18
• Price-to-rent: 1.8×

Monthly cashflow live

• Estimated rent: $958 medium
• Mortgage (P&I): −$109
• Tax est. 1.5%: −$26 /mo · $312/yr
• Insurance: −$9
• HOA: −$0
• Vacancy / Maint / Mgmt: −$201
• Net cashflow: $613

Break-even live

Break-even rent $182

Max offer price $20,800

Occupancy floor 31%

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: $5,200
• Closing costs: $624
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-19
   days on market $20,800 Active 7 DOM
2. 2026-06-18
   days on market $20,800 Active 6 DOM
3. 2026-06-17
   days on market $20,800 Active 5 DOM
4. 2026-06-16
   days on market $20,800 Active 4 DOM
5. 2026-06-15
   days on market $20,800 Active 3 DOM
6. 2026-06-12
   remarks 372-char remark
7. 2026-06-12
   listed $20,800 Active 1 DOM

ⓘ 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: $11,499
• − Mortgage interest: −$1,165
• − Property taxes: −$312
• − Insurance: −$104
• − Repairs & maintenance: −$920
• − Management: −$920
• − Depreciation: −$605
• Taxable income: $7,473
• Est. tax owed @ 24.0%: −$1,794
• After-tax cash flow: $5,566/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 · 1 photo

Fair 40/100 Moderate rehab

This manufactured home requires significant exterior repairs and maintenance to improve its condition and value.

Repairs flagged

• Major roof — Significant rust and wear
• Major exterior siding — Severe weathering and rust

Value-add opportunities

• Both repair and paint exterior siding — Enhances curb appeal and value
• Both repair roof — Critical to home's structural integrity and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · Significant rust and wear	Major	$15,000–50,000
exterior siding · Severe weathering and rust	Major	$15,000–50,000
Total estimated repair cost · 2 items		$30,000–100,000

Value-add ROI direction

• Both repair and paint exterior siding — Enhances curb appeal and value ↑
• Both repair roof — Critical to home's structural integrity and 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: Kewaunee School District
• NCES district ID: 5507410
• Math proficiency: 34% ▼ -6.00%
• Reading proficiency: 31% ▼ -9.00%
• Median HH income: $54,703
• Composite: 28.75/100
• National rank: #6674
• State rank: #250 of 342 in WI

Livability — Kewaunee

• Score: 73/100
• State rank: #210
• US rank: #5523

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: Kewaunee, WI
• Population (ZIP): 6,146

Population outlook (Kewaunee County) Hauer SSP2

• Today (2025): 19,723 people
• By 2030: 19,156 · -2.9%
• By 2040: 17,646 · -10.5%
• By 2050: 15,786 · -20.0%
• By 2075: 11,927 · -39.5%
• By 2100: 8,358 · -57.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Hispanic / Latino 5% Two or more races 4%
• Common ancestry: Romanian 9% English 7% Iranian 2%
• Foreign-born: 3% · Canada, China
• Languages at home: 95% English-only · Spanish 4% German/W. Germanic 1%

Political lean MEDSL · Kewaunee

• 2024 margin: Solid R (+33.8) · D 32.6% · R 66.3% · Other 1.1%
• 2008→2024 swing: -44.8pp toward R · 2008: 11.0pp · 2024: -33.8pp
• All cycles: 2024: R+33.8 2020: R+32.7 2016: R+27.9 2012: R+5.4 2008: D+11.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -91.91%
• Current HPI: 211.0654
• 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