10735 Lacanne Trl · Nokomis, WI 54487

$85,900

1 bd · 1.0 ba · 476 sqft · Condo · 115 Days on market

Good condition ↓ 4% since listing

---

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 +14.5/30.0
• ARV discount +7.5/15.0
• DSCR +4.4/10.0
• 1% rule +4.0/10.0
• Condition / age +3.8/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Looking for an affordable way to enjoy lake life without the hassle of a full-size cabin? The "Badger" is a charming, fully updated 1-bedroom, 1-bath year-round condo on Swamp Lake is a hidden gem—ideal for a someone ready to escape the hustle and embrace the Northwoods lifestyle. Conveniently located between Tomahawk and Minocqua, you’ll have easy access to dining, events, and all-season adventures. Spend your days fishing, boating, or relaxing by the water. The condo has been thoughtfully updated to combine the cozy, rustic feel of a classic Northwoods cabin with modern comforts. The small condo community offers a friendly, laid-back atmosphere that makes it easy to settle in and feel at home.   You are sure to love the low-maintenance lakefront living and a spot for your own private dock to park your boat for lakeside enjoyment.   Snowmobile and ATV trail access is right outside your door.   Northwoods living accessible and enjoyable—without breaking the bank. Call Today!

Key facts

• Lakefront living
• Atv trail access
• Snowmobile access

Tags

• LAKEFRONT LIVING
• PRIVATE DOCK
• SNOWMOBILE ACCESS
• ATV TRAIL ACCESS
• SMALL CONDO COMMUNITY

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $86k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $19 ($233/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 $78k (9.7% below list).
• Recommended offer: $78k (9.7% 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.
• Tomahawk School District (town): math 32% / reading 34% proficiency, ranked #252 of 342 in WI (top 74%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Tomahawk Elementary (math 45% / reading 40%, grade F, #432 of 1,041 statewide, top 41%, 554 students, 49% FRL); Tomahawk Middle (math 27% / reading 32%, grade F, #261 of 383 statewide, top 73%, 279 students, 42% FRL); Tomahawk High (math 17% / reading 27%, grade F, #349 of 483 statewide, top 75%, 371 students, 33% FRL).
• Market conditions: 154 active listings in the ZIP; 307 units permitted in Oneida County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $594 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Oneida County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 115 days — a 9% lower offer ($78k) is reasonable based on typical stale-listing flexibility.

Recommended offer $77,604 (9.7% below list)

Questions for the listing agent

1. It's been on market 115 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
7. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
8. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
9. 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.
10. 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.
11. 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: 0.90% ✗
• Cap rate: 6.56%
• Cash-on-cash: 0.97%
• DSCR: 1.04
• GRM: 9.2

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: -14.7%
• Equity multiple: 0.47×
• Total profit: $-12,670
• Equity at exit: $12,808

10-year hold

• IRR: -6.0%
• Equity multiple: 0.61×
• Total profit: $-9,391
• Equity at exit: $7,427

Cash invested: $24,052 (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 54487

• Active inventory: 154
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $776 medium
• Mortgage (P&I): −$450
• Tax est. 1.5%: −$107 /mo · $1,288/yr
• Insurance: −$36
• HOA: −$0
• Vacancy / Maint / Mgmt: −$163
• Net cashflow: $19

Break-even live

Break-even rent $751

Max offer price $85,900

Occupancy floor 92%

Sensitivity live

Price	-10% $79	-5% $49	+0% $19	+5% $-10	+10% $-40
Rent	-10% $-42	-5% $-11	+0% $19	+5% $50	+10% $81
Rate	-1.0pp $63	-0.5pp $41	base $19	+0.5pp $-3	+1.0pp $-25

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: $21,475
• Closing costs: $2,577
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 21 events

1. 2026-06-22
   days on market $85,900 Active 115 DOM
2. 2026-06-21
   days on market $85,900 Active 114 DOM
3. 2026-06-21
   days on market $85,900 Active 113 DOM
4. 2026-06-18
   days on market $85,900 Active 111 DOM
5. 2026-06-17
   days on market $85,900 Active 110 DOM
6. 2026-06-16
   days on market $85,900 Active 109 DOM
7. 2026-06-16
   days on market $85,900 Active 108 DOM
8. 2026-06-15
   days on market $85,900 Active 107 DOM
9. 2026-06-13
   days on market $85,900 Active 106 DOM
10. 2026-06-12
    days on market $85,900 Active 105 DOM
11. 2026-06-09
    days on market $85,900 Active 102 DOM
12. 2026-06-08
    days on market $85,900 Active 101 DOM
13. 2026-06-08
    days on market $85,900 Active 100 DOM
14. 2026-06-05
    days on market $85,900 Active 98 DOM
15. 2026-06-04
    days on market $85,900 Active 97 DOM
16. 2026-06-03
    days on market $85,900 Active 96 DOM
17. 2026-06-02
    days on market $85,900 Active 95 DOM
18. 2026-06-01
    days on market $85,900 Active 94 DOM
19. 2026-05-31
    days on market $85,900 Active 93 DOM
20. 2026-04-16
    price $85,900 1032-char remark

    Show marketing remark (1032 chars)

    Looking for an affordable way to enjoy lake life without the hassle of a full-size cabin? The "Badger" is a charming, fully updated 1-bedroom, 1-bath year-round condo on Swamp Lake is a hidden gem—ideal for a someone ready to escape the hustle and embrace the Northwoods lifestyle. Conveniently located between Tomahawk and Minocqua, you’ll have easy access to dining, events, and all-season adventures. Spend your days fishing, boating, or relaxing by the water. The condo has been thoughtfully updated to combine the cozy, rustic feel of a classic Northwoods cabin with modern comforts. The small condo community offers a friendly, laid-back atmosphere that makes it easy to settle in and feel at home.   You are sure to love the low-maintenance lakefront living and a spot for your own private dock to park your boat for lakeside enjoyment.   Snowmobile and ATV trail access is right outside your door.   Northwoods living accessible and enjoyable—without breaking the bank. Call Today!

21. 2026-02-27
    listed $89,900 Active 1032-char remark

    Show marketing remark (1032 chars)

    Looking for an affordable way to enjoy lake life without the hassle of a full-size cabin? The "Badger" is a charming, fully updated 1-bedroom, 1-bath year-round condo on Swamp Lake is a hidden gem—ideal for a someone ready to escape the hustle and embrace the Northwoods lifestyle. Conveniently located between Tomahawk and Minocqua, you’ll have easy access to dining, events, and all-season adventures. Spend your days fishing, boating, or relaxing by the water. The condo has been thoughtfully updated to combine the cozy, rustic feel of a classic Northwoods cabin with modern comforts. The small condo community offers a friendly, laid-back atmosphere that makes it easy to settle in and feel at home.   You are sure to love the low-maintenance lakefront living and a spot for your own private dock to park your boat for lakeside enjoyment.   Snowmobile and ATV trail access is right outside your door.   Northwoods living accessible and enjoyable—without breaking the bank. Call Today!

ⓘ 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: $9,312
• − Mortgage interest: −$4,812
• − Property taxes: −$1,288
• − Insurance: −$430
• − Repairs & maintenance: −$745
• − Management: −$745
• − Depreciation: −$2,499
• Taxable loss: −$1,206
• Est. tax savings @ 24.0%: +$289
• After-tax cash flow: $523/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 · 13 photos

Good 75/100 Cosmetic rehab

This fully updated 1-bedroom, 1-bath condo on Swamp Lake is in good condition with no major repairs needed. Painting the exterior and updating the landscaping will further enhance its appeal and value.

Value-add opportunities

• Both Painting the exterior siding and updating the landscaping — Painting the exterior and updating the landscaping will enhance the curb appeal and increase both resale and rental value.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior siding and updating the landscaping — Painting the exterior and updating the landscaping will enhance the curb appeal and increase both resale and rental 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: Tomahawk School District
• NCES district ID: 5514940
• Math proficiency: 32% ▼ -5.00%
• Reading proficiency: 34% ▼ -1.00%
• Median HH income: $49,353
• Composite: 28.63/100
• National rank: #6708
• State rank: #252 of 342 in WI

Livability — Nokomis

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

Census & demographics

• Population (ZIP): 9,740

Population outlook (Oneida County) Hauer SSP2

• Today (2025): 34,468 people
• By 2030: 33,373 · -3.2%
• By 2040: 30,391 · -11.8%
• By 2050: 27,438 · -20.4%
• By 2075: 23,041 · -33.2%
• By 2100: 18,405 · -46.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Romanian 8% Portuguese 6% Lithuanian 4%
• Foreign-born: 1%

Political lean MEDSL · Oneida

• 2024 margin: R (+17.6) · D 40.6% · R 58.2% · Other 1.2%
• 2008→2024 swing: -28.0pp toward R · 2008: 10.4pp · 2024: -17.6pp
• All cycles: 2024: R+17.6 2020: R+14.8 2016: R+17.1 2012: R+2.2 2008: D+10.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -186.37%
• Current HPI: 174.1782
• 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

-4.4% since first listed

2 events — show timeline

• 2026-04-16 Price Changed $85,900 GNMLS
• 2026-02-27 Listed $89,900 GNMLS