210 E Court St · Elkhorn, WI 53121

$244,900

4 bd · 2.0 ba · 1,822 sqft · Other · 4 Days on market

Built 1900 0.30 ac lot

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Why this score? — see what drove the D 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 +13.9/30.0
• ARV discount +7.5/15.0
• DSCR +4.2/10.0
• Schools +3.7/10.0
• Livability +3.6/5.0
• 1% rule +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

History in this home which used to be a single family home and was converted into a two story duplex a while back. Main Unit: 2 Bedroom, 1 bath with front and back porch and 8'x 6' office. Upper Unit: 2 bedroom & 1 bath. Garage was the old horse stable and has two garage door openers and more room for storage. Windows and siding have been updated.

Key facts

• Carriage garage
• Metal roof
• Updated electric

Tags

• CARRIAGE GARAGE
• UPDATED ELECTRIC
• METAL ROOF
• UPDATED WINDOWS

Property features AI

Finance

• Other: Two units total (Unit 1 ~1,182; Unit 2 ~640)

Exterior

• Parking: Detached 3-car garage; 1 additional parking space
• Utilities: Municipal water; Municipal sewer; 2 electric meters; 2 gas meters
• Home design: 2-story duplex; Multi-family property
• Construction: Year built: public/assessor record
• Exterior features: Vinyl exterior; Lot of about 0.3 acres; Zoned RD-1

Interior

• Kitchen: Unit 1: Electric stove, refrigerator included; Unit 2: Electric stove, refrigerator included
• Bedrooms: Unit 1: 2 bedrooms; Unit 2: 2 bedrooms (both on upper level)
• Bathrooms: Unit 1: 1 full bathroom; Unit 2: 1 full bathroom
• Interior features: Full basement with walk-out/outer door; Window treatments included
• Laundry & utility: Lower unit includes washer and gas dryer

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath other listed at $245k.

Deal economics

• At list price, monthly cash flow is $26 ($314/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $207k (15.6% below list).
• Recommended offer: $207k (15.6% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 2.6% in Elkhorn — 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 (#219 in WI) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety D-.
• Elkhorn Area School District (town): math 41% / reading 42% proficiency, ranked #128 of 342 in WI (top 37%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 88 active listings in the ZIP; solid renter incomes; 474 units permitted in Walworth County in 2024 (77 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 10y 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.

Risks & watch-outs

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

Recommended offer $206,761 (15.6% below list)

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.84% ✗
• Cap rate: 6.42%
• Cash-on-cash: 0.46%
• DSCR: 1.02
• GRM: 9.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -15.6%
• Equity multiple: 0.45×
• Total profit: $-38,038
• Equity at exit: $36,515

10-year hold

• IRR: -7.1%
• Equity multiple: 0.55×
• Total profit: $-31,062
• Equity at exit: $21,174

Cash invested: $68,572 (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 53121

• Home prices YoY: -34.0%
• Active inventory: 88
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $2,068 medium
• Mortgage (P&I): −$1,284
• Tax from tax record: −$221 /mo · $2,651/yr
• Insurance: −$102
• HOA: −$0
• Vacancy / Maint / Mgmt: −$434
• Net cashflow: $26

Break-even live

Break-even rent $2,034

Max offer price $244,900

Occupancy floor 94%

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: $61,225
• Closing costs: $7,347
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-05-03
   status Pending 315-char remark
2. 2026-04-29
   listed $244,900 Active 315-char remark
3. 2016-09-29
   soldstatus $91,000 Sold 357-char remark

   Show marketing remark (357 chars)

   History in this home which used to be a single family home and was converted into a two story duplex a while back. Main Unit: 2 Bedroom, 1 bath with front and back porch and 8'x 6' office. Upper Unit: 2 bedroom & 1 bath. Garage was the old horse stable and has two garage door openers and more room for storage. Windows and siding have been updated.

4. 2016-09-29
   soldstatus $91,000

   Show marketing remark (357 chars)

   History in this home which used to be a single family home and was converted into a two story duplex a while back. Main Unit: 2 Bedroom, 1 bath with front and back porch and 8'x 6' office. Upper Unit: 2 bedroom & 1 bath. Garage was the old horse stable and has two garage door openers and more room for storage. Windows and siding have been updated.

5. 2016-09-20
   historical Contingent 357-char remark

   Show marketing remark (357 chars)

   History in this home which used to be a single family home and was converted into a two story duplex a while back. Main Unit: 2 Bedroom, 1 bath with front and back porch and 8'x 6' office. Upper Unit: 2 bedroom & 1 bath. Garage was the old horse stable and has two garage door openers and more room for storage. Windows and siding have been updated.

6. 2016-08-23
   status Active 357-char remark

   Show marketing remark (357 chars)

   History in this home which used to be a single family home and was converted into a two story duplex a while back. Main Unit: 2 Bedroom, 1 bath with front and back porch and 8'x 6' office. Upper Unit: 2 bedroom & 1 bath. Garage was the old horse stable and has two garage door openers and more room for storage. Windows and siding have been updated.

7. 2016-06-30
   historical Contingent 357-char remark

   Show marketing remark (357 chars)

   History in this home which used to be a single family home and was converted into a two story duplex a while back. Main Unit: 2 Bedroom, 1 bath with front and back porch and 8'x 6' office. Upper Unit: 2 bedroom & 1 bath. Garage was the old horse stable and has two garage door openers and more room for storage. Windows and siding have been updated.

8. 2016-04-29
   price $114,900 357-char remark

   Show marketing remark (357 chars)

   History in this home which used to be a single family home and was converted into a two story duplex a while back. Main Unit: 2 Bedroom, 1 bath with front and back porch and 8'x 6' office. Upper Unit: 2 bedroom & 1 bath. Garage was the old horse stable and has two garage door openers and more room for storage. Windows and siding have been updated.

9. 2016-03-28
   listed $124,900 Active 357-char remark

   Show marketing remark (357 chars)

   History in this home which used to be a single family home and was converted into a two story duplex a while back. Main Unit: 2 Bedroom, 1 bath with front and back porch and 8'x 6' office. Upper Unit: 2 bedroom & 1 bath. Garage was the old horse stable and has two garage door openers and more room for storage. Windows and siding have been updated.

ⓘ 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: $2,651 · $221/mo
• Projected year-2 tax: $3,591 · $299/mo
• Expected delta: +$940/yr (+$78/mo · 35.5%)

ⓘ 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 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥102°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: $24,811
• − Mortgage interest: −$13,718
• − Property taxes: −$2,651
• − Insurance: −$1,224
• − Repairs & maintenance: −$1,985
• − Management: −$1,985
• − Depreciation: −$7,124
• Taxable loss: −$3,876
• Est. tax savings @ 24.0%: +$930
• After-tax cash flow: $1,245/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: Elkhorn Area School District
• NCES district ID: 5504290
• Math proficiency: 41% ▼ -6.00%
• Reading proficiency: 42% ▼ -2.00%
• Median HH income: $60,039
• Composite: 36.7/100
• National rank: #4599
• State rank: #128 of 342 in WI

Livability — Elkhorn

• Score: 72/100
• State rank: #219
• US rank: #5804

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Elkhorn, WI
• County: Walworth County · 37,189 people
• Metro: Whitewater, WI
• Population (ZIP): 18,551
• Household income: $85,643
• Rent vs Own: 27.9% rent · 72.1% own
• Severe rent burden: 366.0

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 (84%)
• Race & ethnicity: White 84% Hispanic / Latino 11% Two or more races 8%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Romanian 8% Portuguese 4% Lithuanian 4%
• Foreign-born: 5% · Canada
• Languages at home: 92% English-only · Spanish 7%

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: ▼ -123.43%
• Current HPI: 239.2064
• 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

+100.5% since first listed

10 events — show timeline

• 2026-06-10 Sold (MLS) $250,450 METROMLS
• 2026-05-03 Pending — METROMLS
• 2026-04-29 Listed $244,900 METROMLS
• 2016-09-29 Sold (Public Records) $91,000 Public Records
• 2016-09-29 Sold (MLS) $91,000 METROMLS
• 2016-09-20 Contingent — METROMLS
• 2016-08-23 Relisted — METROMLS
• 2016-06-30 Contingent — METROMLS
• 2016-04-29 Price Changed $114,900 METROMLS
• 2016-03-28 Listed $124,900 METROMLS

Property tax history

+0.9%/yr

Latest (2025): $2,651 · +8.2% YoY. Source: county tax records.