420 Skyline Dr · Fulton, WI 53534

$112,000

1 bd · 1.0 ba · 582 sqft · SingleFamily · 159 Days on market

Built 1993 Good condition 6,098 sqft lot $192/sqft · 20% below area Est $141k · 20% under $65/mo HOA · 6% of rent ↓ 6% since listing

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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).

• ARV discount +15.0/15.0
• Cash flow +11.5/30.0
• 1% rule +4.1/10.0
• Condition / age +3.8/5.0
• DSCR +3.4/10.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

?Vacation Vibes All Year Long at Rock River Leisure Estates Your fun-filled getaway starts here! This sweet Bay Crest Park Model with 4-season addition is move-in ready & loaded with charm. Relax on the big covered porch, gather around the firepit, or zip around on your included golf cart! Prime central location puts you steps from all the action. The addition is perfect as a 2nd bedroom or future laundry. Updates include thermopane windows, Thermoline hydrant & natural gas. At Rock River Leisure Estates, every day feels like vacation?2 pools, fishing pond, sand volleyball, shuffleboard, horseshoes & more! Plus endless boating & fishing on Rock River & Lake Koshkonong. Affordable, fun & ready for you now?don?t miss it!

Key facts

• Covered porch
• Firepit
• Golf cart

Tags

• COVERED PORCH
• FIREPIT
• GOLF CART
• 2 POOLS
• FISHING POND
• SAND VOLLEYBALL

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $112k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-37 ($-442/yr) — negative.
• To cash-flow at today's rent, offer at most $107k (4.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $102k (9.3% below list).
• Recommended offer: $99k (12.0% below list) — sets the bar for market timing.
• Cap rate 5.9% vs local median 1.9% in Fulton — 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: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Edgerton School District (town): math 37% / reading 35% proficiency, ranked #202 of 342 in WI (top 59%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Edgerton Middle (math 39% / reading 41%, grade F, #144 of 383 statewide, top 39%, 424 students, 37% FRL); Edgerton High (math 22% / reading 27%, grade F, #287 of 483 statewide, top 71%, 543 students, 28% FRL) — zoned schools at 32% FRL track the district average.
• Market conditions: 107 active listings in the ZIP; solid renter incomes; 629 units permitted in Rock County in 2024 (263 in 5+ unit buildings).
• This rent is only 14% of the median local income ($89k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $774 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Rock County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 159 days — a 12% lower offer ($99k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $98,560 (12.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 159 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
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. 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?
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: 0.91% ✗
• Cap rate: 5.90%
• Cash-on-cash: -1.41%
• DSCR: 0.94
• GRM: 9.2

CMA / ARV

• ARV (median comp): $140,729
• List price: $112,000
• Delta: -20.41%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
391 Skyline Dr	0.00mi	1/1.0	564 (-3%)	2mo	$100,000	$177	93
432 Skyline Dr	0.08mi	1/1.0	590 (+1%)	13mo	$60,000	$102	83
357 Skyline Dr	0.09mi	2/1.0 (+1)	577 (-1%)	16mo	$120,000	$208	76
460 Aspen Way	0.19mi	2/1.0 (+1)	631 (+8%)	5mo	$162,000	$257	68
273 Oak Ln	0.46mi	2/1.0 (+1)	536 (-8%)	0mo	$109,000	$203	60
76 Pine Tree Ln	0.39mi	2/1.0 (+1)	540 (-7%)	16mo	$162,500	$301	51

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: -18.6%
• Equity multiple: 0.35×
• Total profit: $-20,437
• Equity at exit: $16,700

10-year hold

• IRR: -10.8%
• Equity multiple: 0.34×
• Total profit: $-20,590
• Equity at exit: $9,684

Cash invested: $31,360 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 6 active · 3 under contract
• Months of supply: 7.2 mo (14%/mo absorbed)
• Median asking: $154,000 ($229/sqft)
• Median days on market: 83 d
• This list price: lowest-priced of the active set
• ARV vs active asking: +5.4% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 53534

• Active inventory: 107
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,015 medium
• Mortgage (P&I): −$587
• Tax est. 1.5%: −$140 /mo · $1,680/yr
• Insurance: −$47
• HOA: −$65
• Vacancy / Maint / Mgmt: −$213
• Net cashflow: $-37

Break-even live

Break-even rent $1,062

Max offer price $106,675

Occupancy floor 99%

Sensitivity live

Price	-10% $41	-5% $2	+0% $-37	+5% $-76	+10% $-114
Rent	-10% $-117	-5% $-77	+0% $-37	+5% $3	+10% $43
Rate	-1.0pp $20	-0.5pp $-8	base $-37	+0.5pp $-66	+1.0pp $-95

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: $28,000
• Closing costs: $3,360
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

HOA detail $65/mo · $780/yr

• Likely covers: gaspool

Listing history 50 events

1. 2026-08-08
   days on market $112,000 Active 159 DOM
2. 2026-08-07
   days on market $112,000 Active 158 DOM
3. 2026-08-06
   days on market $112,000 Active 157 DOM
4. 2026-08-05
   days on market $112,000 Active 156 DOM
5. 2026-08-04
   days on market $112,000 Active 155 DOM
6. 2026-08-03
   days on market $112,000 Active 154 DOM
7. 2026-07-31
   days on market $112,000 Active 151 DOM
8. 2026-07-30
   days on market $112,000 Active 150 DOM
9. 2026-07-29
   days on market $112,000 Active 149 DOM
10. 2026-07-27
    days on market $112,000 Active 147 DOM
11. 2026-07-25
    days on market $112,000 Active 145 DOM
12. 2026-07-24
    days on market $112,000 Active 144 DOM
13. 2026-07-23
    days on market $112,000 Active 143 DOM
14. 2026-07-22
    days on market $112,000 Active 142 DOM
15. 2026-07-21
    days on market $112,000 Active 141 DOM
16. 2026-07-18
    days on market $112,000 Active 138 DOM
17. 2026-07-16
    days on market $112,000 Active 136 DOM
18. 2026-07-16
    days on market $112,000 Active 135 DOM
19. 2026-07-14
    days on market $112,000 Active 134 DOM
20. 2026-07-13
    days on market $112,000 Active 133 DOM
21. 2026-07-12
    days on market $112,000 Active 132 DOM
22. 2026-07-11
    days on market $112,000 Active 131 DOM
23. 2026-07-10
    days on market $112,000 Active 130 DOM
24. 2026-07-09
    days on market $112,000 Active 129 DOM
25. 2026-07-08
    days on market $112,000 Active 128 DOM
26. 2026-07-07
    days on market $112,000 Active 127 DOM
27. 2026-07-06
    days on market $112,000 Active 126 DOM
28. 2026-07-05
    days on market $112,000 Active 125 DOM
29. 2026-07-04
    days on market $112,000 Active 124 DOM
30. 2026-07-03
    days on market $112,000 Active 123 DOM
31. 2026-07-02
    days on market $112,000 Active 122 DOM
32. 2026-07-01
    days on market $112,000 Active 121 DOM
33. 2026-06-30
    days on market $112,000 Active 120 DOM
34. 2026-06-29
    days on market $112,000 Active 119 DOM
35. 2026-06-28
    days on market $112,000 Active 118 DOM
36. 2026-06-28
    days on market $112,000 Active 117 DOM
37. 2026-06-27
    days on market $112,000 Active 116 DOM
38. 2026-06-25
    days on market $112,000 Active 114 DOM
39. 2026-06-23
    days on market $112,000 Active 112 DOM
40. 2026-06-22
    days on market $112,000 Active 111 DOM
41. 2026-06-19
    days on market $112,000 Active 109 DOM
42. 2026-06-18
    days on market $112,000 Active 108 DOM
43. 2026-06-17
    days on market $112,000 Active 107 DOM
44. 2026-06-17
    price $112,000 Active 106 DOM
45. 2026-06-16
    days on market $122,500 Active 106 DOM
46. 2026-06-15
    days on market $122,500 Active 105 DOM
47. 2026-06-14
    days on market $122,500 Active 103 DOM
48. 2026-06-13
    days on market $122,500 Active 102 DOM
49. 2026-06-10
    days on market $122,500 Active 100 DOM
50. 2026-06-09
    days on market $122,500 Active 99 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: $12,185
• − Mortgage interest: −$6,274
• − Property taxes: −$1,680
• − Insurance: −$560
• − Repairs & maintenance: −$975
• − Management: −$975
• − HOA: −$780
• − Depreciation: −$3,258
• Taxable loss: −$2,316
• Est. tax savings @ 24.0%: +$556
• After-tax cash flow: $114/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 75/100 Cosmetic rehab Est. rehab $2,910–$8,730 screening

This move-in ready home offers a good starting point with cosmetic updates needed to enhance its resale and rental value.

Repairs flagged

• Moderate kitchen cabinets — dated and in need of updating
• Moderate bathroom vanity — dated and in need of updating
• Major kitchen appliances — outdated and in need of replacement

Value-add opportunities

• Both Paint interior walls — Fresh paint can make a significant difference in the home's appearance and value ↑
• Both Replace kitchen cabinets and appliances — Modernizing the kitchen will enhance the home's appeal and value ↑
• Both Update bathroom vanity — A new vanity can improve the bathroom's functionality and aesthetic appeal ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 33/100

Zoned Schools

Elementary Edgerton Community Elementary F WI #610/1,041 Nat'l #23,081/41,679 Middle Edgerton Middle F WI #144/383 Nat'l #6,005/14,009 High Edgerton High F WI #287/483 Nat'l #12,478/17,239

Schools (NCES district)

• District: Edgerton School District
• NCES district ID: 5504110
• Math proficiency: 37% ▼ -5.00%
• Reading proficiency: 35% ▼ -10.00%
• Median HH income: $59,472
• Composite: 32.1/100
• National rank: #5808
• State rank: #202 of 342 in WI

Livability — Fulton

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

Census & demographics

• County: Rock County · 163,403 people
• Metro: Janesville-Beloit, WI
• Population (ZIP): 12,241
• Household income: $89,045
• Rent vs Own: 21.9% rent · 78.1% own
• Severe rent burden: 18% of renters

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Population outlook (Rock County) Hauer SSP2

• Today (2025): 163,403 people
• By 2030: 162,815 · -0.4%
• By 2040: 158,655 · -2.9%
• By 2050: 151,235 · -7.4%
• By 2075: 131,901 · -19.3%
• By 2100: 108,665 · -33.5%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 10% Two or more races 7%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Portuguese 18% Romanian 4% Lithuanian 2%
• Foreign-born: 3% · Canada
• Languages at home: 91% English-only · Spanish 8%

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Political lean MEDSL · Rock

• 2024 margin: Lean D (+7.3) · D 52.9% · R 45.6% · Other 1.4%
• 2008→2024 swing: -22.0pp toward R · 2008: 29.3pp · 2024: 7.3pp
• All cycles: 2024: D+7.3 2020: D+11.2 2016: D+10.5 2012: D+23.2 2008: D+29.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -163.16%
• Current HPI: 256.4231
• Rent YoY: —
• Metro: Janesville-Beloit, WI
• State GDP YoY: ▲ 2.10%
• F500 in state: 20

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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

-5.7% since first listed

3 events — show timeline

• 2026-03-02 Listed $122,500 SCWMLS
• 2026-02-13 Listing Removed — SCWMLS
• 2025-08-12 Listed $129,900 SCWMLS