23 Quail Walk · Dellwood, WI 53948

$69,888

2 bd · 1.0 ba · 910 sqft · SingleFamily · 254 Days on market

Built 1975 Good condition $77/sqft · 5% above area Est $66k · 5% over $371/mo HOA · 32% of rent ↓ 8% since listing

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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 +19.1/30.0
• 1% rule +10.0/10.0
• DSCR +6.0/10.0
• ARV discount +5.1/15.0
• Condition / age +4.0/5.0
• Schools +2.9/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This is only a personal sale. No real estate included. THE 2026 SEASON LOT LEASE AND PERSONAL PROPERTY TAXES ARE INCLUDED IN THE SALE! Super cute and totally remodeled inside 1975 Fleetwood Homes single wide manufactured home. Home is connected to natural gas & year-round water. It features 2 bedrooms, 1 full bath. Within walking distance to sandy beach on Castle Rock Lake. Access to club house. The lot rent in Sandstone Recreational Park is $4,450 a season. Buyers must be approved by park management for lot lease. Electric, Natural Gas & Internet are not included in the lot rent. Sandstone Recreational Park is located on the southern shores of Castle Rock Lake- 4th largest lake in Wisconsin. Boat Slip available. Enjoy lake life without waterfront price tag. Area is known for many recreational activities to appreciate. Short term rentals are not allowed.

Key facts

• Remodeled inside
• Year round water
• Boat slip available

Tags

• REMODELED INSIDE
• CONNECTED TO NATURAL GAS
• YEAR ROUND WATER
• ACCESS TO CLUB HOUSE
• BOAT SLIP AVAILABLE
• RECREATIONAL ACTIVITIES

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $70k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $75 ($896/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.
• Cap rate 7.6% vs local median 3.2% in Dellwood — 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 57/100 on livability (#755 in WI) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: crime C-, health & safety D, amenities F.
• Mauston School District (rural): math 36% / reading 31% proficiency, ranked #248 of 342 in WI (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Olson Middle (math 39% / reading 34%, grade F, #185 of 383 statewide, top 49%, 233 students, 57% FRL).
• Market conditions: 61 active listings in the ZIP; 154 units permitted in Juneau 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.
• Juneau County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 254 days — a 12% lower offer ($62k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 32% of rent.

Recommended offer $61,501 (12.0% below list)

Questions for the listing agent

1. It's been on market 254 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. 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.
8. 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.
9. 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: 1.68% ✓
• Cap rate: 7.58%
• Cash-on-cash: 4.58%
• DSCR: 1.20
• GRM: 5.0

CMA / ARV

• ARV (median comp): $66,380
• List price: $69,888
• Delta: 5.29%
• Verdict: FAIR
• Comps: 5 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
W4709 40th St	0.73mi	3/2.0 (+1)	960 (+6%)	23mo	$190,000	$198	29

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: -8.8%
• Equity multiple: 0.68×
• Total profit: $-6,323
• Equity at exit: $10,421

10-year hold

• IRR: 1.2%
• Equity multiple: 1.08×
• Total profit: $1,616
• Equity at exit: $6,043

Cash invested: $19,569 (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 53948

• Home prices YoY: -29.4%
• Active inventory: 61
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $1,176 medium
• Mortgage (P&I): −$367
• Tax est. 1.5%: −$87 /mo · $1,048/yr
• Insurance: −$29
• HOA: −$371
• Vacancy / Maint / Mgmt: −$247
• Net cashflow: $75

Break-even live

Break-even rent $1,081

Max offer price $69,888

Occupancy floor 89%

Sensitivity live

Price	-10% $123	-5% $99	+0% $75	+5% $51	+10% $26
Rent	-10% $-18	-5% $28	+0% $75	+5% $121	+10% $168
Rate	-1.0pp $110	-0.5pp $92	base $75	+0.5pp $57	+1.0pp $38

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: $17,472
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $371 · $4,452/yr
• Likely covers: watergaselectricinternet

Listing history 18 events

1. 2026-06-21
   days on market $69,888 Active 254 DOM
2. 2026-06-18
   days on market $69,888 Active 251 DOM
3. 2026-06-17
   days on market $69,888 Active 250 DOM
4. 2026-06-16
   days on market $69,888 Active 249 DOM
5. 2026-06-15
   days on market $69,888 Active 248 DOM
6. 2026-06-14
   days on market $69,888 Active 246 DOM
7. 2026-06-10
   days on market $69,888 Active 243 DOM
8. 2026-06-09
   days on market $69,888 Active 242 DOM
9. 2026-06-08
   days on market $69,888 Active 241 DOM
10. 2026-06-07
    days on market $69,888 Active 240 DOM
11. 2026-06-05
    days on market $69,888 Active 237 DOM
12. 2026-06-03
    pricedays on market $69,888 Active 236 DOM
13. 2026-06-02
    days on market $71,888 Active 235 DOM
14. 2026-06-01
    days on market $71,888 Active 234 DOM
15. 2026-05-31
    days on market $71,888 Active 233 DOM
16. 2026-05-31
    days on market $71,888 Active 232 DOM
17. 2026-03-03
    price $71,888 878-char remark

    Show marketing remark (878 chars)

    This is only a personal sale. No real estate included. THE 2026 SEASON LOT LEASE AND PERSONAL PROPERTY TAXES ARE INCLUDED IN THE SALE! Super cute and totally remodeled inside 1975 Fleetwood Homes single wide manufactured home. Home is connected to natural gas & year-round water. It features 2 bedrooms, 1 full bath. Within walking distance to sandy beach on Castle Rock Lake. Access to club house. The lot rent in Sandstone Recreational Park is $4,450 a season. Buyers must be approved by park management for lot lease. Electric, Natural Gas & Internet are not included in the lot rent. Sandstone Recreational Park is located on the southern shores of Castle Rock Lake- 4th largest lake in Wisconsin. Boat Slip available. Enjoy lake life without waterfront price tag. Area is known for many recreational activities to appreciate. Short term rentals are not allowed.

18. 2025-10-10
    listed $78,000 Active 878-char remark

    Show marketing remark (878 chars)

    This is only a personal sale. No real estate included. THE 2026 SEASON LOT LEASE AND PERSONAL PROPERTY TAXES ARE INCLUDED IN THE SALE! Super cute and totally remodeled inside 1975 Fleetwood Homes single wide manufactured home. Home is connected to natural gas & year-round water. It features 2 bedrooms, 1 full bath. Within walking distance to sandy beach on Castle Rock Lake. Access to club house. The lot rent in Sandstone Recreational Park is $4,450 a season. Buyers must be approved by park management for lot lease. Electric, Natural Gas & Internet are not included in the lot rent. Sandstone Recreational Park is located on the southern shores of Castle Rock Lake- 4th largest lake in Wisconsin. Boat Slip available. Enjoy lake life without waterfront price tag. Area is known for many recreational activities to appreciate. Short term rentals are not allowed.

ⓘ 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: $14,106
• − Mortgage interest: −$3,915
• − Property taxes: −$1,048
• − Insurance: −$349
• − Repairs & maintenance: −$1,128
• − Management: −$1,128
• − HOA: −$4,452
• − Depreciation: −$2,033
• Taxable income: $51
• Est. tax owed @ 24.0%: −$12
• After-tax cash flow: $884/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 · 12 photos

Good 80/100 Cosmetic rehab

This single-wide manufactured home is in good condition with recent updates, making it a great investment opportunity.

Value-add opportunities

• Both Landscaping — Enhances curb appeal and adds value
• Both Painting exterior — Fresh paint can improve curb appeal and value
• Both Landscaping around the house — Improves curb appeal and adds value

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping — Enhances curb appeal and adds value ↑
• Both Painting exterior — Fresh paint can improve curb appeal and value ↑
• Both Landscaping around the house — Improves curb appeal and adds 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: Mauston School District
• NCES district ID: 5508850
• Math proficiency: 36% ▼ -3.00%
• Reading proficiency: 31% ▼ -1.00%
• Median HH income: $46,779
• Composite: 28.82/100
• National rank: #6658
• State rank: #248 of 342 in WI

Livability — Dellwood

• Score: 57/100
• State rank: #755
• US rank: #22272

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 8,221

Population outlook (Juneau County) Hauer SSP2

• Today (2025): 25,013 people
• By 2030: 24,154 · -3.4%
• By 2040: 22,217 · -11.2%
• By 2050: 20,276 · -18.9%
• By 2075: 15,919 · -36.4%
• By 2100: 11,351 · -54.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 5% Black 3% Hispanic / Latino 2%
• Common ancestry: Romanian 10% Portuguese 8% Lithuanian 2%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Russian/Polish/Slavic 2% Spanish 2% German/W. Germanic 1%

Political lean MEDSL · Juneau

• 2024 margin: Solid R (+32.1) · D 33.4% · R 65.6% · Other 1.0%
• 2008→2024 swing: -41.1pp toward R · 2008: 9.0pp · 2024: -32.1pp
• All cycles: 2024: R+32.1 2020: R+29.2 2016: R+26.3 2012: D+7.1 2008: D+9.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -109.90%
• Current HPI: 263.4253
• 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

-7.8% since first listed

2 events — show timeline

• 2026-03-03 Price Changed $71,888 SCWMLS
• 2025-10-10 Listed $78,000 SCWMLS