3674 Ruby Ln #35 · Nasewaupee, WI 54235

$132,900

3 bd · 1.0 ba · 539 sqft · Condo · 6 Days on market

Built 2008 $98/mo HOA · 8% of rent

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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 +19.6/30.0
• ARV discount +7.5/15.0
• DSCR +6.2/10.0
• 1% rule +4.8/10.0
• Schools +3.8/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Move right in! Very well maintained property inside and out. All furnishings are included too. This Park Model has an extended loft with 2 sleeping areas. The kitchen and dining area are a combined measurement and are open to the living room which has a sleeper sofa and a room divider if you wish for extra privacy. Entertainment on your spacious 19x11 covered deck complete with patio table and chairs. The rec center is steps away with an indoor pool, whirlpool, sauna and beautiful lounge area with Door County stone fireplace. This unit has year round water. Ride your bike or walk into adjacent Potawatomi State Park.

Key facts

• Clubhouse
• Hot tub
• Swimming pool

Tags

• CORNER LOT
• LARGE PORCH
• 12X12 SHED
• CLUBHOUSE
• HOT TUB
• SWIMMING POOL

Property features AI

Finance

• HOA & community: Homeowners association with annual fee of $1,175 (about $97.92/month)

Exterior

• Home design: Residential condominium
• Exterior features: Part of the Hidden Ridge community

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Central Air; Forced Air heating (propane)
• Interior features: Central air conditioning; Forced air heating (propane)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath condo listed at $133k.

Deal economics

• At list price, monthly cash flow is $152 ($2k/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 $130k (2.0% below list).
• Recommended offer: $130k (2.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Southern Door County School District (rural): math 44% / reading 43% proficiency, ranked #112 of 342 in WI (top 33%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 200 active listings in the ZIP; 306 units permitted in Door County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $919 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Door County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 7y 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.
• Current owner paid $65k; list at $133k implies a 104% gain — meaningful room to come down on a strong offer.

Recommended offer $130,190 (2.0% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.98% ✗
• Cap rate: 7.67%
• Cash-on-cash: 4.91%
• DSCR: 1.22
• GRM: 8.5

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: -8.7%
• Equity multiple: 0.68×
• Total profit: $-11,839
• Equity at exit: $19,816

10-year hold

• IRR: 0.8%
• Equity multiple: 1.06×
• Total profit: $2,160
• Equity at exit: $11,491

Cash invested: $37,212 (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 54235

• Active inventory: 200
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,302 medium
• Mortgage (P&I): −$697
• Tax from tax record: −$26 /mo · $310/yr
• Insurance: −$55
• HOA: −$98
• Vacancy / Maint / Mgmt: −$273
• Net cashflow: $152

Break-even live

Break-even rent $1,109

Max offer price $132,900

Occupancy floor 83%

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: $33,225
• Closing costs: $3,987
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $98 · $1,176/yr
• Likely covers: waterpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 7 events

1. 2026-06-18
   days on market $132,900 Active 6 DOM
2. 2026-06-17
   days on market $132,900 Active 5 DOM
3. 2026-06-16
   days on market $132,900 Active 4 DOM
4. 2026-06-15
   days on market $132,900 Active 3 DOM
5. 2026-06-15
   days on market $132,900 Active 2 DOM
6. 2026-06-12
   remarks 471-char remark
7. 2026-06-12
   listed $132,900 Active 1 DOM

ⓘ 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: $310 · $26/mo
• Projected year-2 tax: $1,384 · $115/mo
• Expected delta: +$1,074/yr (+$90/mo · 346.6%)

ⓘ 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 1/10 Low 7 d/yr ≥90°F today · 13 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,623
• − Mortgage interest: −$7,444
• − Property taxes: −$310
• − Insurance: −$664
• − Repairs & maintenance: −$1,250
• − Management: −$1,250
• − HOA: −$1,176
• − Depreciation: −$3,866
• Taxable loss: −$338
• Est. tax savings @ 24.0%: +$81
• After-tax cash flow: $1,909/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: Southern Door County School District
• NCES district ID: 5514130
• Math proficiency: 44% ▼ -5.00%
• Reading proficiency: 43% ▲ 6.00%
• Median HH income: $53,856
• Composite: 37.78/100
• National rank: #4345
• State rank: #112 of 342 in WI

Livability — Nasewaupee

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

Census & demographics

• Population (ZIP): 17,845

Population outlook (Door County) Hauer SSP2

• Today (2025): 27,220 people
• By 2030: 26,785 · -1.6%
• By 2040: 25,167 · -7.5%
• By 2050: 23,052 · -15.3%
• By 2075: 18,981 · -30.3%
• By 2100: 14,801 · -45.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Hispanic / Latino 5% Two or more races 5% Native American 1%
• Common ancestry: Portuguese 8% English 7% Romanian 6%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 3%

Political lean MEDSL · Door

• 2024 margin: Toss-up / Even · D 50.6% · R 48.3% · Other 1.1%
• 2008→2024 swing: -15.1pp toward R · 2008: 17.3pp · 2024: 2.2pp
• All cycles: 2024: D+2.2 2020: D+1.4 2016: R+3.2 2012: D+7.0 2008: D+17.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -159.61%
• Current HPI: 197.0112
• 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

+195.3% since first listed

5 events — show timeline

• 2026-06-12 Listed $132,900 DCBRMLS
• 2019-10-14 Sold (Public Records) $65,000 Public Records
• 2019-10-11 Sold (MLS) $65,000 DCBRMLS
• 2019-08-01 Listed $68,000 DCBRMLS
• 2002-06-07 Sold (Public Records) $45,000 Public Records

Property tax history

-3.3%/yr

Latest (2025): $310 · -46.2% YoY. Source: county tax records.