2B Paradise Dr · Lake Mills, WI 53551

$49,900

3 bd · 2.0 ba · 1,280 sqft · SingleFamily · 258 Days on market

Built 1994 Good condition $39/sqft · 88% below area ↓ 29% 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 +4.0/5.0
• Condition / age +4.0/5.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Enjoy one more summer near Rock Lake before making your move! This beautifully maintained, fully furnished 3-bedroom, 2-bath mobile home with newer roof offers a bright, open floor plan with a spacious living area, and an eat-in kitchen with a bay window, sliding patio doors, ample cabinet space, and a convenient breakfast bar. The primary suite includes a walk-in closet and a large shower. After the season, the home must be relocated to the property of your choice due to the city?s decision to expand the parking lot at Sandy Beach. The seller is offering a $7,500 credit to the buyer at closing to help offset relocation costs, adding even more value to this opportunity. Whether you?re searching for an economical housing option, a smart rental investment, or a welcoming guest house, this versatile home is ready for its next chapter. Please note: the park season ends October 16, and you?ll have until Dec. 31, 2026 to remove the trailer from the park.

Key facts

• Open floor plan
• Newer roof
• Sliding patio doors

Tags

• NEWER ROOF
• OPEN FLOOR PLAN
• EAT-IN KITCHEN
• BAY WINDOW
• SLIDING PATIO DOORS
• AMPLE CABINET SPACE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $50k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $50k).
• Recommended offer: $44k (12.0% below list) — sets the bar for market timing.
• Cap rate 31.3% vs local median 1.6% in Lake Mills — 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 80/100 on livability (#68 in WI, #1,833 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Lake Mills Area School District (town): math 38% / reading 39% proficiency, ranked #152 of 342 in WI (top 44%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 36 active listings in the ZIP; 145 units permitted in Jefferson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $345 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Jefferson County population projected to shrink 6% 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 $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 258 days — a 12% lower offer ($44k) is reasonable based on typical stale-listing flexibility.

Recommended offer $43,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 258 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. 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: 3.51% ✓
• Cap rate: 31.28%
• Cash-on-cash: 89.22%
• DSCR: 4.97
• GRM: 2.4

CMA / ARV

• ARV (median comp): $405,409
• List price: $49,900
• Delta: -87.69%
• Verdict: UNDERPRICED
• Comps: 19 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
122 Phillips Ln	0.67mi	2/1.0 (-1)	1,223 (-4%)	18mo	$275,000	$225	38

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: 89.9%
• Equity multiple: 5.16×
• Total profit: $58,106
• Equity at exit: $7,440

10-year hold

• IRR: 92.8%
• Equity multiple: 10.73×
• Total profit: $135,904
• Equity at exit: $4,314

Cash invested: $13,972 (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 53551

• Active inventory: 36
• Price-to-rent: 2.4×

Monthly cashflow live

• Estimated rent: $1,752 medium
• Mortgage (P&I): −$262
• Tax est. 1.5%: −$62 /mo · $748/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$368
• Net cashflow: $1,039

Break-even live

Break-even rent $437

Max offer price $49,900

Occupancy floor 36%

Sensitivity live

Price	-10% $1,073	-5% $1,056	+0% $1,039	+5% $1,022	+10% $1,004
Rent	-10% $900	-5% $970	+0% $1,039	+5% $1,108	+10% $1,177
Rate	-1.0pp $1,064	-0.5pp $1,052	base $1,039	+0.5pp $1,026	+1.0pp $1,013

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   status $49,900 Pending 258 DOM
2. 2026-06-18
   days on market $49,900 Active 258 DOM
3. 2026-06-17
   days on market $49,900 Active 257 DOM
4. 2026-06-16
   days on market $49,900 Active 256 DOM
5. 2026-06-15
   days on market $49,900 Active 255 DOM
6. 2026-06-14
   days on market $49,900 Active 253 DOM
7. 2026-06-12
   days on market $49,900 Active 252 DOM
8. 2026-06-09
   days on market $49,900 Active 249 DOM
9. 2026-06-08
   days on market $49,900 Active 248 DOM
10. 2026-06-07
    days on market $49,900 Active 247 DOM
11. 2026-06-05
    days on market $49,900 Active 245 DOM
12. 2026-06-04
    days on market $49,900 Active 243 DOM
13. 2026-06-02
    days on market $49,900 Active 242 DOM
14. 2026-06-01
    days on market $49,900 Active 241 DOM
15. 2026-05-31
    days on market $49,900 Active 240 DOM
16. 2026-05-31
    days on market $49,900 Active 239 DOM
17. 2026-05-05
    price $49,900 962-char remark

    Show marketing remark (962 chars)

    Enjoy one more summer near Rock Lake before making your move! This beautifully maintained, fully furnished 3-bedroom, 2-bath mobile home with newer roof offers a bright, open floor plan with a spacious living area, and an eat-in kitchen with a bay window, sliding patio doors, ample cabinet space, and a convenient breakfast bar. The primary suite includes a walk-in closet and a large shower. After the season, the home must be relocated to the property of your choice due to the city?s decision to expand the parking lot at Sandy Beach. The seller is offering a $7,500 credit to the buyer at closing to help offset relocation costs, adding even more value to this opportunity. Whether you?re searching for an economical housing option, a smart rental investment, or a welcoming guest house, this versatile home is ready for its next chapter. Please note: the park season ends October 16, and you?ll have until Dec. 31, 2026 to remove the trailer from the park.

18. 2026-04-17
    price $59,900 962-char remark

    Show marketing remark (962 chars)

    Enjoy one more summer near Rock Lake before making your move! This beautifully maintained, fully furnished 3-bedroom, 2-bath mobile home with newer roof offers a bright, open floor plan with a spacious living area, and an eat-in kitchen with a bay window, sliding patio doors, ample cabinet space, and a convenient breakfast bar. The primary suite includes a walk-in closet and a large shower. After the season, the home must be relocated to the property of your choice due to the city?s decision to expand the parking lot at Sandy Beach. The seller is offering a $7,500 credit to the buyer at closing to help offset relocation costs, adding even more value to this opportunity. Whether you?re searching for an economical housing option, a smart rental investment, or a welcoming guest house, this versatile home is ready for its next chapter. Please note: the park season ends October 16, and you?ll have until Dec. 31, 2026 to remove the trailer from the park.

19. 2025-10-03
    listed $69,900 Active 962-char remark

    Show marketing remark (962 chars)

    Enjoy one more summer near Rock Lake before making your move! This beautifully maintained, fully furnished 3-bedroom, 2-bath mobile home with newer roof offers a bright, open floor plan with a spacious living area, and an eat-in kitchen with a bay window, sliding patio doors, ample cabinet space, and a convenient breakfast bar. The primary suite includes a walk-in closet and a large shower. After the season, the home must be relocated to the property of your choice due to the city?s decision to expand the parking lot at Sandy Beach. The seller is offering a $7,500 credit to the buyer at closing to help offset relocation costs, adding even more value to this opportunity. Whether you?re searching for an economical housing option, a smart rental investment, or a welcoming guest house, this versatile home is ready for its next chapter. Please note: the park season ends October 16, and you?ll have until Dec. 31, 2026 to remove the trailer from the park.

ⓘ 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 3/10 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: $21,018
• − Mortgage interest: −$2,795
• − Property taxes: −$748
• − Insurance: −$250
• − Repairs & maintenance: −$1,681
• − Management: −$1,681
• − Depreciation: −$1,452
• Taxable income: $12,411
• Est. tax owed @ 24.0%: −$2,979
• After-tax cash flow: $9,488/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

Good 80/100 Cosmetic rehab

This well-maintained, fully furnished mobile home with a new roof and modern appliances is ready for a new owner. It offers a bright, open floor plan with a spacious living area and an eat-in kitchen. The home is in good condition and has a good resale and rental potential.

Value-add opportunities

• Both Painting exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics
• Both Updating flooring in bathrooms — Modern flooring can improve both resale and rental value
• Both Upgrading kitchen appliances — Modern appliances can attract more buyers and renters

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics ↑
• Both Updating flooring in bathrooms — Modern flooring can improve both resale and rental value ↑
• Both Upgrading kitchen appliances — Modern appliances can attract more buyers and renters ↑

ⓘ 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: Lake Mills Area School District
• NCES district ID: 5507710
• Math proficiency: 38% ▼ -11.00%
• Reading proficiency: 39% ▼ -6.00%
• Median HH income: $62,848
• Composite: 34.48/100
• National rank: #5186
• State rank: #152 of 342 in WI

Livability — Lake Mills

• Score: 80/100
• State rank: #68
• US rank: #1833

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lake Mills, WI
• City population: 9,485
• Population (ZIP): 9,485

Population outlook (Jefferson County) Hauer SSP2

• Today (2025): 86,617 people
• By 2030: 86,818 · +0.2%
• By 2040: 85,552 · -1.2%
• By 2050: 81,765 · -5.6%
• By 2075: 68,937 · -20.4%
• By 2100: 55,854 · -35.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Hispanic / Latino 6% Two or more races 5% Native American 1%
• Hispanic origin (detail): Mexican 4% Cuban 1%
• Common ancestry: Romanian 8% Portuguese 6% Lithuanian 3%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1% French/Haitian/Cajun 1% German/W. Germanic 1%

Political lean MEDSL · Jefferson

• 2024 margin: R (+16.4) · D 41.1% · R 57.5% · Other 1.4%
• 2008→2024 swing: -17.2pp toward R · 2008: 0.8pp · 2024: -16.4pp
• All cycles: 2024: R+16.4 2020: R+15.2 2016: R+16.2 2012: R+7.6 2008: D+0.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -185.97%
• Current HPI: 213.919
• 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

-28.6% since first listed

3 events — show timeline

• 2026-05-05 Price Changed $49,900 SCWMLS
• 2026-04-17 Price Changed $59,900 SCWMLS
• 2025-10-03 Listed $69,900 SCWMLS