1128 Wisconsin St · Lake Geneva, WI 53147

$1,400,000

None bd · None ba · — sqft · MultiFamily · 66 Days on market

Built 1900 0.35 ac lot

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Why this score? — see what drove the C+ 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 +26.4/30.0
• DSCR +9.0/10.0
• ARV discount +7.5/15.0
• 1% rule +7.1/10.0
• Livability +3.6/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Prime 8-plex investment opportunity in downtown Lake Geneva's historic Maple Park. This property includes a charming Victorian home and a modern 4-plex, offering 8 fully leased units with long-term tenants. Recent upgrades include new roofs, furnaces, hot water heaters, and unit renovations like kitchens, baths, and flooring. Boasting a strong CAP rate, this solid turnkey property provides steady income and excellent growth potential. Coveted off-street parking for 12+ cars. Located in a desirable lakeside community, walking distance to everything Lake Geneva has to offer, it's ideal for investors seeking high-performing multifamily real estate. Don't miss this rare chance--schedule your private showing today!

Key facts

• 2 buildings
• Hot water heaters
• New roofs

Tags

• WALKING DISTANCE TO BEACH
• WALKING DISTANCE TO SHOPPING
• NEW ROOFS
• HOT WATER HEATERS
• FURNACES
• 2 BUILDINGS

Property features AI

Finance

• Financial info: 8-unit building

Exterior

• Parking: Outdoor parking and outside spaces; Indoor parking available
• Utilities: Municipal water; Municipal sewer; Electric service; Natural gas service
• Home design: Multi-family / apartment building; 1-2 stories
• Construction: Construction materials include aluminum/steel, aluminum, and wood; Year built: see remarks
• Exterior features: Aluminum/steel, aluminum, and wood exterior; Less than 1/2 acre lot (approximately 0.35 acre); Zoned residential

Interior

• Heating & cooling: Central air; Wall/sleeve air units; Electric and natural gas heat
• Interior features: Full basement with walk-out/outer door; Individual heating units
• Laundry & utility: Seller-owned washer; Seller-owned dryer; Seller-owned water heater

What this means for you Summary

Snapshot

• This is a multifamily listed at $1.40M.

Deal economics

• At list price, monthly cash flow is $4k ($44k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($17k rent vs $1.40M).
• Recommended offer: $1.32M (6.0% below list) — sets the bar for market timing.
• Cap rate 9.4% vs local median 2.7% in Lake Geneva — 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 (#247 in WI) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A-, cost of living A-; Watch: amenities F, commute F, health & safety D-.
• Lake Geneva-Genoa City Uhs School District (town): math 27% / reading 35% proficiency, ranked #258 of 342 in WI (top 75%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Badger High (math 27% / reading 36%, grade F, #199 of 483 statewide, top 42%, 1,326 students, 34% FRL).
• Market conditions: 229 active listings in the ZIP; solid renter incomes; 474 units permitted in Walworth County in 2024 (77 in 5+ unit buildings).
• At $16,883/mo this rent would consume 242% of the median local household income ($84k/yr) (locally 526% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $10k of loan paydown is wiped out by about $42k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $392k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($1.32M) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 14y ago 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.
• Current owner paid $400k; list at $1.40M implies a 250% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $1,316,000 (6.0% below list)

Questions for the listing agent

1. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.21% ✓
• Cap rate: 9.43%
• Cash-on-cash: 11.21%
• DSCR: 1.50
• GRM: 6.9

CMA / ARV

No comps found within radius.

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1021 North St	0.24mi	4/2.0	800	14mo	$325,000	$406	65
711 Ann St	0.48mi	—/—	—	11mo	$462,150	—	56
1210 Williams St #1212	0.72mi	6/3.0	2,516	7mo	$545,000	$217	48

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: 0.4%
• Equity multiple: 1.02×
• Total profit: $6,660
• Equity at exit: $208,745

10-year hold

• IRR: 10.1%
• Equity multiple: 1.78×
• Total profit: $307,201
• Equity at exit: $121,046

Cash invested: $392,000 (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 53147

• Active inventory: 229
• Price-to-rent: 55.3×

Monthly cashflow live

• Estimated rent: $16,883 medium
• Mortgage (P&I): −$7,342
• Tax est. 1.5%: −$1,750 /mo · $21,000/yr
• Insurance: −$583
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,545
• Net cashflow: $3,662

Break-even live

Break-even rent $12,247

Max offer price $1,400,000

Occupancy floor 73%

8-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 8× units	2	1	$16,880
Total (8 units)			$16,883

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: $350,000
• Closing costs: $42,000
• Reserves months: —
• Total cash needed: —

Listing history 29 events

1. 2026-06-19
   days on market $1,400,000 Active 66 DOM
2. 2026-06-18
   days on market $1,400,000 Active 65 DOM
3. 2026-06-17
   days on market $1,400,000 Active 64 DOM
4. 2026-06-16
   days on market $1,400,000 Active 63 DOM
5. 2026-06-15
   days on market $1,400,000 Active 62 DOM
6. 2026-06-14
   days on market $1,400,000 Active 60 DOM
7. 2026-06-12
   days on market $1,400,000 Active 59 DOM
8. 2026-06-09
   days on market $1,400,000 Active 56 DOM
9. 2026-06-08
   days on market $1,400,000 Active 55 DOM
10. 2026-06-07
    days on market $1,400,000 Active 54 DOM
11. 2026-06-05
    days on market $1,400,000 Active 51 DOM
12. 2026-06-03
    days on market $1,400,000 Active 50 DOM
13. 2026-06-02
    days on market $1,400,000 Active 49 DOM
14. 2026-06-01
    days on market $1,400,000 Active 48 DOM
15. 2026-05-31
    days on market $1,400,000 Active 47 DOM
16. 2026-05-30
    days on market $1,400,000 Active 46 DOM
17. 2026-04-13
    listed $1,400,000 Active
18. 2026-02-02
    historical 719-char remark

    Show marketing remark (719 chars)

    Prime 8-plex investment opportunity in downtown Lake Geneva's historic Maple Park. This property includes a charming Victorian home and a modern 4-plex, offering 8 fully leased units with long-term tenants. Recent upgrades include new roofs, furnaces, hot water heaters, and unit renovations like kitchens, baths, and flooring. Boasting a strong CAP rate, this solid turnkey property provides steady income and excellent growth potential. Coveted off-street parking for 12+ cars. Located in a desirable lakeside community, walking distance to everything Lake Geneva has to offer, it's ideal for investors seeking high-performing multifamily real estate. Don't miss this rare chance--schedule your private showing today!

19. 2025-10-27
    price $1,500,000 719-char remark

    Show marketing remark (719 chars)

    Prime 8-plex investment opportunity in downtown Lake Geneva's historic Maple Park. This property includes a charming Victorian home and a modern 4-plex, offering 8 fully leased units with long-term tenants. Recent upgrades include new roofs, furnaces, hot water heaters, and unit renovations like kitchens, baths, and flooring. Boasting a strong CAP rate, this solid turnkey property provides steady income and excellent growth potential. Coveted off-street parking for 12+ cars. Located in a desirable lakeside community, walking distance to everything Lake Geneva has to offer, it's ideal for investors seeking high-performing multifamily real estate. Don't miss this rare chance--schedule your private showing today!

20. 2025-07-19
    price $1,600,000 719-char remark

    Show marketing remark (719 chars)

    Prime 8-plex investment opportunity in downtown Lake Geneva's historic Maple Park. This property includes a charming Victorian home and a modern 4-plex, offering 8 fully leased units with long-term tenants. Recent upgrades include new roofs, furnaces, hot water heaters, and unit renovations like kitchens, baths, and flooring. Boasting a strong CAP rate, this solid turnkey property provides steady income and excellent growth potential. Coveted off-street parking for 12+ cars. Located in a desirable lakeside community, walking distance to everything Lake Geneva has to offer, it's ideal for investors seeking high-performing multifamily real estate. Don't miss this rare chance--schedule your private showing today!

21. 2025-06-12
    price $1,800,000 719-char remark

    Show marketing remark (719 chars)

    Prime 8-plex investment opportunity in downtown Lake Geneva's historic Maple Park. This property includes a charming Victorian home and a modern 4-plex, offering 8 fully leased units with long-term tenants. Recent upgrades include new roofs, furnaces, hot water heaters, and unit renovations like kitchens, baths, and flooring. Boasting a strong CAP rate, this solid turnkey property provides steady income and excellent growth potential. Coveted off-street parking for 12+ cars. Located in a desirable lakeside community, walking distance to everything Lake Geneva has to offer, it's ideal for investors seeking high-performing multifamily real estate. Don't miss this rare chance--schedule your private showing today!

22. 2025-05-15
    listed $1,950,000 Active 719-char remark

    Show marketing remark (719 chars)

    Prime 8-plex investment opportunity in downtown Lake Geneva's historic Maple Park. This property includes a charming Victorian home and a modern 4-plex, offering 8 fully leased units with long-term tenants. Recent upgrades include new roofs, furnaces, hot water heaters, and unit renovations like kitchens, baths, and flooring. Boasting a strong CAP rate, this solid turnkey property provides steady income and excellent growth potential. Coveted off-street parking for 12+ cars. Located in a desirable lakeside community, walking distance to everything Lake Geneva has to offer, it's ideal for investors seeking high-performing multifamily real estate. Don't miss this rare chance--schedule your private showing today!

23. 2012-10-03
    historical 371-char remark

    Show marketing remark (371 chars)

    9 units total comprised of a large victorian w/ 5 units & adjacent 4 unit at 331 Maxwell. Owner pays all utilities on 5 unit. Owner pays elec. & hwh gas on 4 unit. Rents are: 475, 475,500,500,575,600,600,500,600. Numerous updates to hvac, a/c, roofs & more. Just 2 blks. off the lake. All tenants use washer/dryer in 331. Takes in approx. $180 per month.

24. 2012-10-03
    listed $499,000 371-char remark

    Show marketing remark (371 chars)

    9 units total comprised of a large victorian w/ 5 units & adjacent 4 unit at 331 Maxwell. Owner pays all utilities on 5 unit. Owner pays elec. & hwh gas on 4 unit. Rents are: 475, 475,500,500,575,600,600,500,600. Numerous updates to hvac, a/c, roofs & more. Just 2 blks. off the lake. All tenants use washer/dryer in 331. Takes in approx. $180 per month.

25. 2012-10-03
    historical

    Show marketing remark (371 chars)

    9 units total comprised of a large victorian w/ 5 units & adjacent 4 unit at 331 Maxwell. Owner pays all utilities on 5 unit. Owner pays elec. & hwh gas on 4 unit. Rents are: 475, 475,500,500,575,600,600,500,600. Numerous updates to hvac, a/c, roofs & more. Just 2 blks. off the lake. All tenants use washer/dryer in 331. Takes in approx. $180 per month.

26. 2012-10-03
    listed $489,000

    Show marketing remark (371 chars)

    9 units total comprised of a large victorian w/ 5 units & adjacent 4 unit at 331 Maxwell. Owner pays all utilities on 5 unit. Owner pays elec. & hwh gas on 4 unit. Rents are: 475, 475,500,500,575,600,600,500,600. Numerous updates to hvac, a/c, roofs & more. Just 2 blks. off the lake. All tenants use washer/dryer in 331. Takes in approx. $180 per month.

27. 2012-10-03
    listed $459,000

    Show marketing remark (371 chars)

    9 units total comprised of a large victorian w/ 5 units & adjacent 4 unit at 331 Maxwell. Owner pays all utilities on 5 unit. Owner pays elec. & hwh gas on 4 unit. Rents are: 475, 475,500,500,575,600,600,500,600. Numerous updates to hvac, a/c, roofs & more. Just 2 blks. off the lake. All tenants use washer/dryer in 331. Takes in approx. $180 per month.

28. 2012-10-03
    historical

    Show marketing remark (371 chars)

    9 units total comprised of a large victorian w/ 5 units & adjacent 4 unit at 331 Maxwell. Owner pays all utilities on 5 unit. Owner pays elec. & hwh gas on 4 unit. Rents are: 475, 475,500,500,575,600,600,500,600. Numerous updates to hvac, a/c, roofs & more. Just 2 blks. off the lake. All tenants use washer/dryer in 331. Takes in approx. $180 per month.

29. 2009-05-27
    soldstatus $400,000

ⓘ 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: $202,596
• − Mortgage interest: −$78,422
• − Property taxes: −$21,000
• − Insurance: −$7,000
• − Repairs & maintenance: −$16,208
• − Management: −$16,208
• − Depreciation: −$40,727
• Taxable income: $23,032
• Est. tax owed @ 24.0%: −$5,528
• After-tax cash flow: $38,422/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: Lake Geneva-Genoa City Uhs School District
• NCES district ID: 5507650
• Math proficiency: 27% ▼ -5.00%
• Reading proficiency: 35% ▼ -4.00%
• Median HH income: $52,486
• Composite: 27.25/100
• National rank: #7013
• State rank: #258 of 342 in WI

Livability — Lake Geneva

• Score: 72/100
• State rank: #247
• US rank: #6394

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: Lake Geneva, WI
• County: Walworth County · 37,189 people
• City population: 18,638
• Metro: Whitewater, WI
• Population (ZIP): 18,638
• Household income: $83,566
• Rent vs Own: 30.7% rent · 69.3% own
• Severe rent burden: 526.0

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 (82%)
• Race & ethnicity: White 82% Hispanic / Latino 12% Two or more races 8%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Romanian 8% Portuguese 6% Lithuanian 3%
• Foreign-born: 10% · Canada
• Languages at home: 88% English-only · Spanish 8% Russian/Polish/Slavic 2% German/W. Germanic 1%

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: ▼ -159.25%
• Current HPI: 243.6097
• 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

+250.0% since first listed

13 events — show timeline

• 2026-04-13 Listed $1,400,000 METROMLS
• 2026-02-02 Listing Removed — METROMLS
• 2025-10-27 Price Changed $1,500,000 METROMLS
• 2025-07-19 Price Changed $1,600,000 METROMLS
• 2025-06-12 Price Changed $1,800,000 METROMLS
• 2025-05-15 Listed $1,950,000 METROMLS
• 2012-10-03 Listed $499,000 METROMLS
• 2012-10-03 Listing Removed — METROMLS
• 2012-10-03 Listed $489,000 METROMLS
• 2012-10-03 Listing Removed — METROMLS
• 2012-10-03 Listing Removed — METROMLS
• 2012-10-03 Listed $459,000 METROMLS
• 2009-05-27 Sold (MLS) $400,000 METROMLS