868 Norman Dr #167 · Dunn, WI 53589

$88,000

3 bd · 2.0 ba · 1,296 sqft · SingleFamily · 15 Days on market

Built 1995 Good condition 435 sqft lot

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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
• Condition / age +3.8/5.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Moble home NO LAND INCLUDED (lot rent is $1,125 per month). Welcome home to this well-maintained 3-bedroom, 2-bath manufactured home located in the desirable Bay View Heights community. Offering approximately 1,248 square feet of living space, this home features a spacious layout with comfortable living areas, a functional kitchen, and a private primary suite. Situated on a lot that provides added privacy and no neighbors behind you in a quiet, peaceful setting, you?ll enjoy the benefits of affordable living just minutes from downtown Stoughton. A great opportunity for owner-occupants seeking low-maintenance living in a convenient location. Monthly lot rent apply and a traditional mortgage

Key facts

• Convenient location
• Affordable living
• Built 1995

Tags

• BAY VIEW HEIGHTS COMMUNITY
• PRIVATE PRIMARY SUITE
• QUIET PEACEFUL SETTING
• AFFORDABLE LIVING
• CONVENIENT LOCATION

Property features AI

Exterior

• Utilities: Municipal water; Municipal sewer; Natural gas service
• Home design: Single-family, 1 story; Approximately 1,296 finished above-grade square feet; Entry level: Main
• Construction: Vinyl exterior
• Exterior features: Deck; Vinyl siding; Storage building (outbuilding)

Interior

• Kitchen: Refrigerator; Dishwasher; Range/Oven
• Bedrooms: Master bedroom (Main) — 12 x 12; Bedroom 2 (Main) — 12 x 9; Bedroom 3 (Main) — 9 x 8
• Bathrooms: 2 full bathrooms; Master bathroom includes full bath and walk-in shower
• Heating & cooling: Natural gas heating; Other cooling/heating details (see remarks)
• Interior features: Cathedral/vaulted ceilings; Skylights
• Laundry & utility: Washer; Dryer

🏷️ Possibly a rental listed for sale. The $88,000 price doesn't fit this home's estimated sale value (~$764,640) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $88k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $905 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $88k).
• Recommended offer: $87k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Stoughton Area School District (suburban): math 33% / reading 38% proficiency, ranked #197 of 342 in WI (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Stoughton High (math 32% / reading 42%, grade F, #123 of 483 statewide, top 28%, 875 students, 25% FRL) — zoned schools at 25% FRL track the district average.
• Market conditions: 203 active listings in the ZIP; solid renter incomes; 5,519 units permitted in Dane County in 2024 (3,978 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $608 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Dane County population projected at +35% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($87k) is reasonable based on typical stale-listing flexibility.

Recommended offer $86,680 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 2.18% ✓
• Cap rate: 18.64%
• Cash-on-cash: 44.08%
• DSCR: 2.96
• GRM: 3.8

CMA / ARV

• ARV (on-the-fly): $764,640
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3644 Schneider Dr	0.36mi	3/1.5	1,364 (+5%)	13mo	$450,000	$330	61
2222 Colladay Point Dr	0.66mi	2/2.0 (-1)	1,372 (+6%)	21mo	$810,000	$590	37

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: 41.1%
• Equity multiple: 2.76×
• Total profit: $43,420
• Equity at exit: $13,121

10-year hold

• IRR: 47.3%
• Equity multiple: 5.55×
• Total profit: $112,162
• Equity at exit: $7,609

Cash invested: $24,640 (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 53589

• Active inventory: 203
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $1,916 medium
• Mortgage (P&I): −$461
• Tax est. 1.5%: −$110 /mo · $1,320/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$402
• Net cashflow: $905

Break-even live

Break-even rent $770

Max offer price $88,000

Occupancy floor 48%

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: $22,000
• Closing costs: $2,640
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-18
   days on market $88,000 Active 15 DOM
2. 2026-06-17
   days on market $88,000 Active 14 DOM
3. 2026-06-16
   days on market $88,000 Active 13 DOM
4. 2026-06-15
   days on market $88,000 Active 12 DOM
5. 2026-06-14
   days on market $88,000 Active 10 DOM
6. 2026-06-13
   days on market $88,000 Active 9 DOM
7. 2026-06-10
   days on market $88,000 Active 7 DOM
8. 2026-06-09
   days on market $88,000 Active 6 DOM
9. 2026-06-08
   days on market $88,000 Active 5 DOM
10. 2026-06-07
    remarks 699-char remark
11. 2026-06-07
    listed $88,000 Active 4 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: $22,987
• − Mortgage interest: −$4,929
• − Property taxes: −$1,320
• − Insurance: −$440
• − Repairs & maintenance: −$1,839
• − Management: −$1,839
• − Depreciation: −$2,560
• Taxable income: $10,060
• Est. tax owed @ 24.0%: −$2,414
• After-tax cash flow: $8,448/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 · 6 photos

Good 75/100 Cosmetic rehab

This well-maintained mobile home in Dunn, WI is in good condition with minimal repairs needed. It offers a good investment opportunity with potential for both resale and rental value.

Value-add opportunities

• Resale Paint exterior siding — Fresh paint enhances curb appeal and property value
• Rental Trim and edge landscaping — Well-maintained landscaping improves rental appeal

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint exterior siding — Fresh paint enhances curb appeal and property value ↑
• Rental Trim and edge landscaping — Well-maintained landscaping improves rental appeal ↑

ⓘ 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: Stoughton Area School District
• NCES district ID: 5514550
• Math proficiency: 33% ▼ -6.00%
• Reading proficiency: 38% ▼ -6.00%
• Median HH income: $67,233
• Composite: 32.4/100
• National rank: #5730
• State rank: #197 of 342 in WI

Livability — Dunn

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

Census & demographics

• County: Dane County · 506,461 people
• Metro: Madison, WI
• Population (ZIP): 19,550
• Household income: $96,226
• Rent vs Own: 24.3% rent · 75.7% own
• Severe rent burden: 286.0

Population outlook (Dane County) Hauer SSP2

• Today (2025): 610,707 people
• By 2030: 654,875 · +7.2%
• By 2040: 740,480 · +21.2%
• By 2050: 826,188 · +35.3%
• By 2075: 1,040,574 · +70.4%
• By 2100: 1,168,084 · +91.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 4% Hispanic / Latino 2% Black 1%
• Common ancestry: Portuguese 21% Romanian 5% Lithuanian 3%
• Foreign-born: 3% · Canada
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Dane

• 2024 margin: Solid D (+51.7) · D 75.1% · R 23.4% · Other 1.5%
• 2008→2024 swing: +4.7pp toward D · 2008: 47.0pp · 2024: 51.7pp
• All cycles: 2024: D+51.7 2020: D+52.6 2016: D+48.0 2012: D+43.6 2008: D+47.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -299.98%
• Current HPI: 261.1854
• Rent YoY: —
• Metro: Madison, 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

1 event — show timeline

• 2026-06-02 Listed $88,000 SCWMLS