2149 Leona St · Quincy, WI 53934

$89,900

2 bd · 1.0 ba · 672 sqft · Other · 51 Days on market

Built 1970 0.60 ac lot $134/sqft · 10% above area Est $82k · 10% over

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.1/10.0
• ARV discount +3.0/15.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks

This is your chance to own an affordable home close to Castle Rock Lake! This single wide mobile home sits on 4 lots in Dellwood, giving you a spacious, private property to enjoy your lake-life. Detached two-car garage gives you ample storage for boat, ATV/UTV or snowmobiles. Mobile home has had renovations started so bring your ideas and make this property your own. Three bedroom septic and well located on property. Call to schedule a time to see it in person today.

Key facts

• 0.6 acre lot
• 2 garage spots
• Built 1970

Property features AI

Finance

• Other: Zoning: R-3; Seller excludes personal items

Exterior

• Parking: Detached 2-car garage
• Utilities: Well water; Private septic system
• Home design: Single-family, 1 story; Estimated finished above-grade area about 672
• Construction: Information sourced from assessor/public record
• Exterior features: Aluminum/steel exterior; Lot size about 0.6 acre; Subdivision: Dellwood

Interior

• Kitchen: Kitchen on main level (approx. 9 x 10); All appliances in mobile included
• Bedrooms: Master bedroom on main level (approx. 11 x 10); Second bedroom on main level (approx. 7 x 6)
• Bathrooms: One full bathroom; No master bathroom
• Heating & cooling: Forced air heating; LP gas fuel
• Interior features: Living room on main level (approx. 17 x 10)
• Laundry & utility: Wood pile on property (included)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $90k.

Deal economics

• At list price, monthly cash flow is $437 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $87k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Adams-Friendship Area School District (rural): math 22% / reading 19% proficiency, ranked #331 of 342 in WI (top 97%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Adams-Friendship High (math 12% / reading 17%, grade F, #427 of 483 statewide, top 90%, 443 students, 62% FRL) — zoned schools at 62% FRL track the district average.
• Market conditions: 91 active listings in the ZIP; 126 units permitted in Adams County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Adams County population projected at -33% 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 $25k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $40k; list at $90k implies a 125% gain — meaningful room to come down on a strong offer.

Recommended offer $87,203 (3.0% below list)

Questions for the listing agent

1. It's been on market 51 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.41% ✓
• Cap rate: 12.13%
• Cash-on-cash: 20.85%
• DSCR: 1.93
• GRM: 5.9

CMA / ARV

• ARV (median comp): $81,726
• List price: $89,900
• Delta: 10.00%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 13.2%
• Equity multiple: 1.53×
• Total profit: $13,276
• Equity at exit: $13,404

10-year hold

• IRR: 22.1%
• Equity multiple: 2.88×
• Total profit: $47,374
• Equity at exit: $7,773

Cash invested: $25,172 (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 53934

• Home prices YoY: -26.5%
• Active inventory: 91
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,271 medium
• Mortgage (P&I): −$471
• Tax from tax record: −$58 /mo · $693/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$267
• Net cashflow: $437

Break-even live

Break-even rent $717

Max offer price $89,900

Occupancy floor 61%

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $89,900 Active 51 DOM
2. 2026-06-17
   days on market $89,900 Active 50 DOM
3. 2026-06-16
   days on market $89,900 Active 49 DOM
4. 2026-06-15
   days on market $89,900 Active 48 DOM
5. 2026-06-14
   days on market $89,900 Active 46 DOM
6. 2026-06-13
   days on market $89,900 Active 45 DOM
7. 2026-06-10
   days on market $89,900 Active 43 DOM
8. 2026-06-09
   days on market $89,900 Active 42 DOM
9. 2026-06-08
   days on market $89,900 Active 41 DOM
10. 2026-06-07
    days on market $89,900 Active 40 DOM
11. 2026-06-03
    days on market $89,900 Active 36 DOM
12. 2026-06-02
    days on market $89,900 Active 35 DOM
13. 2026-06-01
    days on market $89,900 Active 34 DOM
14. 2026-05-31
    days on market $89,900 Active 33 DOM
15. 2026-05-31
    days on market $89,900 Active 32 DOM
16. 2026-04-27
    listed $89,900 Active 471-char remark
17. 2012-05-01
    soldstatus $40,000
18. 2008-03-03
    soldstatus $32,500

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast WI · Partial reset (capped growth)

• Current annual tax: $693 · $58/mo
• Projected year-2 tax: $1,178 · $98/mo
• Expected delta: +$485/yr (+$40/mo · 70.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

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 ≥99°F today · 13 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,251
• − Mortgage interest: −$5,036
• − Property taxes: −$693
• − Insurance: −$450
• − Repairs & maintenance: −$1,220
• − Management: −$1,220
• − Depreciation: −$2,615
• Taxable income: $4,018
• Est. tax owed @ 24.0%: −$964
• After-tax cash flow: $4,285/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: Adams-Friendship Area School District
• NCES district ID: 5500060
• Math proficiency: 22% ▼ -5.00%
• Reading proficiency: 19% ▼ -5.00%
• Median HH income: $38,165
• Composite: 17.22/100
• National rank: #9100
• State rank: #331 of 342 in WI

Livability — Quincy

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Dellwood, WI
• Population (ZIP): 4,404

Population outlook (Adams County) Hauer SSP2

• Today (2025): 18,560 people
• By 2030: 17,523 · -5.6%
• By 2040: 14,888 · -19.8%
• By 2050: 12,359 · -33.4%
• By 2075: 8,662 · -53.3%
• By 2100: 6,000 · -67.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 7% Hispanic / Latino 4% Black 1%
• Common ancestry: Romanian 11% Portuguese 8% Lithuanian 3%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Russian/Polish/Slavic 2% Spanish 1%

Political lean MEDSL · Adams

• 2024 margin: Strong R (+25.8) · D 34.6% · R 60.4% · Other 5.0%
• 2008→2024 swing: -44.2pp toward R · 2008: 18.3pp · 2024: -25.8pp
• All cycles: 2024: R+25.8 2020: R+25.7 2016: R+21.8 2012: D+8.7 2008: D+18.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -96.94%
• Current HPI: 268.5442
• 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

+176.6% since first listed

3 events — show timeline

• 2026-04-27 Listed $89,900 SCWMLS
• 2012-05-01 Sold (Public Records) $40,000 Public Records
• 2008-03-03 Sold (Public Records) $32,500 Public Records

Property tax history

+3.6%/yr

Latest (2025): $693 · -2.1% YoY. Source: county tax records.