N3525 Trieloff Rd #11 · Lake Ripley, WI 53538

$69,900

3 bd · 2.0 ba · 1,152 sqft · SingleFamily · 122 Days on market

Built 2001 Good condition $61/sqft · 12% above area Est $62k · 12% over ↓ 18% 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
• Condition / age +3.8/5.0
• Livability +3.5/5.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• ARV discount +2.2/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to this well-maintained manufactured home offering three bedrooms and two full bathrooms in a friendly community setting. This home has a great layout with a split bedroom design and a generous 1,152 square feet of living space. Step outside to enjoy a spacious lot, complete with a shed for extra storage and two parking spaces. This home is in good condition and ready for its next chapter. Appliances are included. Monthly lot lease is $740. Schedule your tour today!

Key facts

• Split bedroom design
• Extra storage
• Two parking spaces

Tags

• SPLIT BEDROOM DESIGN
• SPACIOUS LOT
• EXTRA STORAGE
• TWO PARKING SPACES

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $70k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $667 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $62k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 69/100 on livability (#336 in WI) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: schools D, amenities F, commute F.
• Fort Atkinson School District (town): math 36% / reading 42% proficiency, ranked #161 of 342 in WI (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 64 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 $483 of loan paydown is wiped out by about $2k 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 $20k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 122 days — a 12% lower offer ($62k) is reasonable based on typical stale-listing flexibility.

Recommended offer $61,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 122 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. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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 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: 2.08% ✓
• Cap rate: 17.74%
• Cash-on-cash: 40.87%
• DSCR: 2.82
• GRM: 4.0

CMA / ARV

• ARV (median comp): $62,497
• List price: $69,900
• Delta: 11.85%
• Verdict: OVERPRICED
• Comps: 5 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 37.4%
• Equity multiple: 2.59×
• Total profit: $31,147
• Equity at exit: $10,422

10-year hold

• IRR: 44.0%
• Equity multiple: 5.18×
• Total profit: $81,874
• Equity at exit: $6,044

Cash invested: $19,572 (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 53538

• Active inventory: 64
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $1,455 medium
• Mortgage (P&I): −$367
• Tax est. 1.5%: −$87 /mo · $1,048/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$306
• Net cashflow: $667

Break-even live

Break-even rent $611

Max offer price $69,900

Occupancy floor 49%

Sensitivity live

Price	-10% $715	-5% $691	+0% $667	+5% $642	+10% $618
Rent	-10% $552	-5% $609	+0% $667	+5% $724	+10% $781
Rate	-1.0pp $702	-0.5pp $684	base $667	+0.5pp $648	+1.0pp $630

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-05-08
   price $69,900 483-char remark

   Show marketing remark (483 chars)

   Welcome home to this well-maintained manufactured home offering three bedrooms and two full bathrooms in a friendly community setting. This home has a great layout with a split bedroom design and a generous 1,152 square feet of living space. Step outside to enjoy a spacious lot, complete with a shed for extra storage and two parking spaces. This home is in good condition and ready for its next chapter. Appliances are included. Monthly lot lease is $740. Schedule your tour today!

2. 2026-03-04
   price $79,900 483-char remark

   Show marketing remark (483 chars)

   Welcome home to this well-maintained manufactured home offering three bedrooms and two full bathrooms in a friendly community setting. This home has a great layout with a split bedroom design and a generous 1,152 square feet of living space. Step outside to enjoy a spacious lot, complete with a shed for extra storage and two parking spaces. This home is in good condition and ready for its next chapter. Appliances are included. Monthly lot lease is $740. Schedule your tour today!

3. 2026-02-10
   price $82,500 483-char remark

   Show marketing remark (483 chars)

   Welcome home to this well-maintained manufactured home offering three bedrooms and two full bathrooms in a friendly community setting. This home has a great layout with a split bedroom design and a generous 1,152 square feet of living space. Step outside to enjoy a spacious lot, complete with a shed for extra storage and two parking spaces. This home is in good condition and ready for its next chapter. Appliances are included. Monthly lot lease is $740. Schedule your tour today!

4. 2026-01-21
   listed $85,000 Active 483-char remark

   Show marketing remark (483 chars)

   Welcome home to this well-maintained manufactured home offering three bedrooms and two full bathrooms in a friendly community setting. This home has a great layout with a split bedroom design and a generous 1,152 square feet of living space. Step outside to enjoy a spacious lot, complete with a shed for extra storage and two parking spaces. This home is in good condition and ready for its next chapter. Appliances are included. Monthly lot lease is $740. Schedule your tour today!

ⓘ 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: $17,462
• − Mortgage interest: −$3,915
• − Property taxes: −$1,048
• − Insurance: −$350
• − Repairs & maintenance: −$1,397
• − Management: −$1,397
• − Depreciation: −$2,033
• Taxable income: $7,321
• Est. tax owed @ 24.0%: −$1,757
• After-tax cash flow: $6,241/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

Good 75/100 Cosmetic rehab

This well-maintained manufactured home is in good condition and ready for its next chapter. Minor updates to the exterior and interior can significantly enhance its resale and rental value.

Value-add opportunities

• Resale Paint exterior siding — Fresh paint can enhance curb appeal and the home's overall appearance.
• Resale Replace gutters — Clean gutters improve the home's appearance and prevent water damage.
• Both Update kitchen appliances — Upgraded appliances can attract more buyers and renters.
• Both Install new flooring in bathrooms — New flooring can improve the look and feel of the bathrooms, enhancing both resale and rental value.
• Both Paint interior walls — Fresh paint can make the interior look more inviting and improve the home's overall appearance.
• Both Replace windows — New windows can improve energy efficiency and the home's curb appeal, increasing both resale and rental value.

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint exterior siding — Fresh paint can enhance curb appeal and the home's overall appearance. ↑
• Resale Replace gutters — Clean gutters improve the home's appearance and prevent water damage. ↑
• Both Update kitchen appliances — Upgraded appliances can attract more buyers and renters. ↑
• Both Install new flooring in bathrooms — New flooring can improve the look and feel of the bathrooms, enhancing both resale and rental value. ↑
• Both Paint interior walls — Fresh paint can make the interior look more inviting and improve the home's overall appearance. ↑
• Both Replace windows — New windows can improve energy efficiency and the home's curb appeal, increasing both resale and rental 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: Fort Atkinson School District
• NCES district ID: 5504740
• Math proficiency: 36% ▼ -9.00%
• Reading proficiency: 42% ▼ -4.00%
• Median HH income: $55,072
• Composite: 34.13/100
• National rank: #5288
• State rank: #161 of 342 in WI

Livability — Lake Ripley

• Score: 69/100
• State rank: #336
• US rank: #8603

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 18,604

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 (86%)
• Race & ethnicity: White 86% Hispanic / Latino 11% Two or more races 5%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Portuguese 7% Romanian 5% Lithuanian 4%
• Foreign-born: 6% · Canada, Vietnam
• Languages at home: 91% English-only · Spanish 8%

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: ▼ -188.91%
• Current HPI: 194.0276
• 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

-17.8% since first listed

4 events — show timeline

• 2026-05-08 Price Changed $69,900 SCWMLS
• 2026-03-04 Price Changed $79,900 SCWMLS
• 2026-02-10 Price Changed $82,500 SCWMLS
• 2026-01-21 Listed $85,000 SCWMLS