1727 Innovation Ln · Verona, WI 53593

$417,900

3 bd · 2.5 ba · 1,480 sqft · Other · 101 Days on market

Built 2026 3,484 sqft lot $282/sqft · 23% below area Est $545k · 23% under $32/mo HOA · 1% of rent ↓ 50% 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 +8.4/30.0
• Livability +4.5/5.0
• Schools +3.8/10.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• DSCR +2.3/10.0
• 1% rule +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Renderings are for illustrative purposes only. Final colors, finishes, and landscaping will differ. All prices, promotions and specifications are subject to change at any time without notice based on the discretion of Veridian Homes.

Key facts

• Quartz countertops
• Solid-core doors
• Center island

Tags

• OPEN-CONCEPT LAYOUT
• CUSTOM AUBURN RIDGE CABINETRY
• CENTER ISLAND
• QUARTZ COUNTERTOPS
• LUXURY VINYL PLANK FLOORING
• SOLID-CORE DOORS

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath other listed at $418k.

Deal economics

• At list price, monthly cash flow is $-377 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $351k (15.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $270k (35.4% below list).
• Recommended offer: $270k (35.4% below list) — sets the bar for 1% rule.
• Cap rate 5.2% vs local median 2.8% in Verona — 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 91/100 on livability (#3 in WI, #41 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, employment A+; Watch: cost of living C-, amenities D.
• Verona Area School District (suburban): math 39% / reading 42% proficiency, ranked #113 of 342 in WI (top 33%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Country View Elementary (math 42% / reading 42%, grade F, #433 of 1,041 statewide, top 46%, 396 students, 28% FRL); Savanna Oaks Middle (math 31% / reading 41%, grade F, #188 of 383 statewide, top 52%, 394 students, 34% FRL); Verona Area High (math 31% / reading 38%, grade F, #144 of 483 statewide, top 36%, 1,802 students, 29% FRL).
• Market conditions: Rents rising (+2.2%/yr); 292 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 5,519 units permitted in Dane County in 2024 (3,978 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $13k of value loss. Plan a longer hold.
• Dane County population projected at +35% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 101 days — a 9% lower offer ($380k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Recommended offer $269,965 (35.4% 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 101 days. Have you received any prior offers? Is the seller open to a 35% 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. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
7. 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?
8. 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.
9. 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.
10. 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: 0.65% ✗
• Cap rate: 5.21%
• Cash-on-cash: -3.87%
• DSCR: 0.83
• GRM: 12.9

CMA / ARV

• ARV (median comp): $545,481
• List price: $417,900
• Delta: -23.39%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.23% rent growth · sell at horizon

5-year hold

• IRR: -23.6%
• Equity multiple: 0.20×
• Total profit: $-93,995
• Equity at exit: $62,310

10-year hold

• IRR: -20.5%
• Equity multiple: -0.04×
• Total profit: $-121,931
• Equity at exit: $36,132

Cash invested: $117,012 (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 53593

• Rents YoY: 2.2%
• Active inventory: 292
• Price-to-rent: 12.9×

Monthly cashflow live

• Estimated rent: $2,700 medium
• Mortgage (P&I): −$2,192
• Tax from tax record: −$112 /mo · $1,345/yr
• Insurance: −$174
• HOA: −$32
• Vacancy / Maint / Mgmt: −$567
• Net cashflow: $-377

Break-even live

Break-even rent $3,177

Max offer price $351,306

Occupancy floor —

Sensitivity live

Price	-10% $-140	-5% $-259	+0% $-377	+5% $-495	+10% $-614
Rent	-10% $-590	-5% $-484	+0% $-377	+5% $-270	+10% $-164
Rate	-1.0pp $-167	-0.5pp $-271	base $-377	+0.5pp $-485	+1.0pp $-595

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: $104,475
• Closing costs: $12,537
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
671 Hunters Ct Verona, WI	3.0	1.0–2.5	1193	$3,295	$2.76	16d	38	1.43mi

HOA detail

• Monthly dues: $32 · $384/yr
• Likely covers: landscaping

Listing history 18 events

1. 2026-06-22
   days on market $417,900 Active 101 DOM
2. 2026-06-18
   days on market $417,900 Active 98 DOM
3. 2026-06-17
   days on market $417,900 Active 97 DOM
4. 2026-06-16
   days on market $417,900 Active 96 DOM
5. 2026-06-15
   days on market $417,900 Active 95 DOM
6. 2026-06-14
   days on market $417,900 Active 93 DOM
7. 2026-06-10
   days on market $417,900 Active 90 DOM
8. 2026-06-09
   days on market $417,900 Active 89 DOM
9. 2026-06-08
   days on market $417,900 Active 88 DOM
10. 2026-06-07
    days on market $417,900 Active 87 DOM
11. 2026-06-03
    days on market $417,900 Active 83 DOM
12. 2026-06-02
    days on market $417,900 Active 82 DOM
13. 2026-06-01
    days on market $417,900 Active 81 DOM
14. 2026-05-31
    days on market $417,900 Active 80 DOM
15. 2026-05-31
    days on market $417,900 Active 79 DOM
16. 2026-03-16
    listed $417,900 Active 233-char remark

    Show marketing remark (233 chars)

    Renderings are for illustrative purposes only. Final colors, finishes, and landscaping will differ. All prices, promotions and specifications are subject to change at any time without notice based on the discretion of Veridian Homes.

17. 2026-03-12
    listed $417,900 Active 739-char remark

    Show marketing remark (739 chars)

    This Emerson home features a thoughtfully designed, open-concept layout ideal for modern living. Offering 3 bedrooms, 2.5 baths, and a 2-car garage, this home showcases locally made, custom Auburn Ridge cabinetry, doors, and trim crafted to last. The stylish kitchen includes a center island, quartz countertops, and quality finishes from trusted brands like Kohler, Moen, and Shaw. Durable luxury vinyl plank flooring enhances main living areas, while painted solid-core doors provide superior sound control. Designer lighting curated from Kichler and Visual Comfort & Co. adds a polished touch. Smart Home+ technology with integrated lighting control brings everyday convenience. Enjoy added peace of mind with a one-year warranty.

18. 2024-06-04
    soldstatus $832,300

ⓘ 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: $1,345 · $112/mo
• Projected year-2 tax: $4,538 · $378/mo
• Expected delta: +$3,193/yr (+$266/mo · 237.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $32,396
• − Mortgage interest: −$23,409
• − Property taxes: −$1,345
• − Insurance: −$2,090
• − Repairs & maintenance: −$2,592
• − Management: −$2,592
• − HOA: −$384
• − Depreciation: −$12,157
• Taxable loss: −$12,172
• Est. tax savings @ 24.0%: +$2,921
• After-tax cash flow: $-1,602/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: Verona Area School District
• NCES district ID: 5515330
• Math proficiency: 39% ▼ -2.00%
• Reading proficiency: 42% ▼ -2.00%
• Median HH income: $79,387
• Composite: 37.71/100
• National rank: #4358
• State rank: #113 of 342 in WI

Livability — Verona

• Score: 91/100
• State rank: #3
• US rank: #41

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Verona, WI
• County: Dane County · 506,461 people
• City population: 31,081
• Metro: Madison, WI
• Population (ZIP): 31,081
• Household income: $135,023
• Rent vs Own: 31.1% rent · 68.9% own
• Severe rent burden: 494.0

Population outlook (Dane County) Hauer SSP2

• Today (2025): 610,707 people
• By 2030: 654,875 · +7.2%
• By 2040: 740,480 · +21.2%
• By 2050: 826,188 · +35.3%
• By 2075: 1,040,574 · +70.4%
• By 2100: 1,168,084 · +91.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Asian 6% Two or more races 5% Hispanic / Latino 4% Black 2%
• Common ancestry: Portuguese 10% Romanian 6% Lithuanian 4%
• Foreign-born: 7% · Canada, China, South Korea
• Languages at home: 91% English-only · Other Indo-European 2% Spanish 2% Other Asian/Pacific 1%

Political lean MEDSL · Dane

• 2024 margin: Solid D (+51.7) · D 75.1% · R 23.4% · Other 1.5%
• 2008→2024 swing: +4.7pp toward D · 2008: 47.0pp · 2024: 51.7pp
• All cycles: 2024: D+51.7 2020: D+52.6 2016: D+48.0 2012: D+43.6 2008: D+47.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -348.77%
• Current HPI: 267.9353
• Rent YoY: ▲ 2.23%
• Metro: Madison, 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

-49.8% since first listed

3 events — show timeline

• 2026-03-16 Listed $417,900 Zillow
• 2026-03-12 Listed $417,900 SCWMLS
• 2024-06-04 Sold (Public Records) $832,300 Public Records

Property tax history

+1126.3%/yr

Latest (2025): $1,345 · +1126.3% YoY. Source: county tax records.