4908 Landmark Cir #1302 · Egg Harbor, WI 54209

$158,900

1 bd · 1.0 ba · 762 sqft · Condo · 31 Days on market

Built 1982 Good condition $237/mo HOA · 14% of rent

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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 +14.6/30.0
• ARV discount +7.5/15.0
• Appreciation +7.3/10.0
• 1% rule +5.9/10.0
• Schools +4.6/10.0
• DSCR +4.4/10.0
• Condition / age +3.8/5.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0

Listing remarks

Enjoy comfort, privacy, and strong rental potential with this updated 2-bedroom, 1-bath wood-view unit in the Flagship building at Door County?s Landmark Resort. Ideally situated in a quiet setting while still close to all resort amenities, this unit participates in Landmark?s rental program, offering excellent year-round income opportunities. Set on 40 scenic acres atop a bluff overlooking Green Bay, the resort features an impressive array of amenities including walking trails, indoor and outdoor pools, tennis and pickleball courts, grilling areas, a playground, and an on-site restaurant. Owners also benefit from the flexibility of unrestricted personal use, making this an ideal combinatio

Key facts

• Grilling areas
• Walking trails
• Playground

Tags

• BLUFF OVERLOOKING GREEN BAY
• WALKING TRAILS
• INDOOR AND OUTDOOR POOLS
• TENNIS AND PICKLEBALL COURTS
• GRILLING AREAS
• PLAYGROUND

Property features AI

Finance

• Other: Zoning: Commercial
• HOA & community: Monthly condo fee of $237; Condominium name: Landmark Resort; Building contains 75 units

Exterior

• Parking: Unassigned parking
• Utilities: Holding tank for water/waste; Electric service
• Home design: Condo (flat — one level); Shared wall/adjoining building
• Construction: Finished above-grade living area approximately 762; No finished below-grade area
• Exterior features: Cedar exterior

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator
• Bedrooms: Master bedroom (main level) — 9 x 11
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating; Wall air conditioning
• Interior features: Living room on the main level; Kitchen on the main level; No basement (slab foundation)
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $159k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $37 ($440/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $159k).
• Recommended offer: $154k (3.0% below list) — sets the bar for market timing.
• Cap rate 6.6% vs local median 1.0% in Egg Harbor — 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 66/100 on livability (#455 in WI) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A-; Watch: amenities F, commute F, health & safety D-.
• Gibraltar Area School District (rural): math 52% / reading 54% proficiency, ranked #45 of 342 in WI (top 13%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Gibraltar Elementary (math 67% / reading 52%, grade B-, #102 of 1,041 statewide, top 12%, 257 students, 28% FRL); Gibraltar Middle (math 42% / reading 52%, grade D+, #73 of 383 statewide, top 22%, 110 students, 36% FRL); Gibraltar High (math 44% / reading 54%, grade D, #36 of 483 statewide, top 9%, 180 students, 34% FRL).
• Market conditions: 102 active listings in the ZIP; 306 units permitted in Door County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $8k of equity ($1k loan paydown + $7k appreciation (4.6% local appreciation)).
• Door County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.6% appreciation + 3.0% rent growth), your $44k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($154k) is reasonable based on typical stale-listing flexibility.

Recommended offer $154,133 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.09% ✓
• Cap rate: 6.57%
• Cash-on-cash: 0.99%
• DSCR: 1.04
• GRM: 7.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

4.61% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 12.8%
• Equity multiple: 1.80×
• Total profit: $35,620
• Equity at exit: $86,312

10-year hold

• IRR: 13.9%
• Equity multiple: 3.42×
• Total profit: $107,755
• Equity at exit: $145,963

Cash invested: $44,492 (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 54209

• Home prices YoY: 2.0%
• Active inventory: 102
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,736 medium
• Mortgage (P&I): −$833
• Tax est. 1.5%: −$199 /mo · $2,384/yr
• Insurance: −$66
• HOA: −$237
• Vacancy / Maint / Mgmt: −$365
• Net cashflow: $37

Break-even live

Break-even rent $1,690

Max offer price $158,900

Occupancy floor 93%

Sensitivity live

Price	-10% $146	-5% $92	+0% $37	+5% $-18	+10% $-73
Rent	-10% $-101	-5% $-32	+0% $37	+5% $105	+10% $174
Rate	-1.0pp $117	-0.5pp $77	base $37	+0.5pp $-5	+1.0pp $-46

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: $39,725
• Closing costs: $4,767
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $237 · $2,844/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 7 events

1. 2026-06-22
   days on market $158,900 Active 31 DOM
2. 2026-06-21
   days on market $158,900 Active 30 DOM
3. 2026-06-21
   days on market $158,900 Active 29 DOM
4. 2026-06-18
   days on market $158,900 Active 27 DOM
5. 2026-06-17
   days on market $158,900 Active 26 DOM
6. 2026-06-17
   remarks 699-char remark
7. 2026-06-17
   listed $158,900 Active 25 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥89°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: $20,837
• − Mortgage interest: −$8,901
• − Property taxes: −$2,384
• − Insurance: −$794
• − Repairs & maintenance: −$1,667
• − Management: −$1,667
• − HOA: −$2,844
• − Depreciation: −$4,623
• Taxable loss: −$2,042
• Est. tax savings @ 24.0%: +$490
• After-tax cash flow: $930/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

This updated 2-bedroom, 1-bath unit at the Landmark Resort is in good condition with minimal repairs needed. It offers excellent rental potential and is well-maintained, making it an attractive investment opportunity.

Value-add opportunities

• Both Paint the interior walls and trim for a fresh look. — Fresh paint can enhance the overall appearance and appeal of the property.
• Resale Replace the kitchen faucet and add a new backsplash for a modern touch. — A new backsplash and faucet can improve the kitchen's functionality and aesthetic.
• Resale Install new flooring in the bathroom for a fresh and updated look. — New flooring can significantly improve the bathroom's appearance and functionality, making it more attractive to potential buyers or renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint the interior walls and trim for a fresh look. — Fresh paint can enhance the overall appearance and appeal of the property. ↑
• Resale Replace the kitchen faucet and add a new backsplash for a modern touch. — A new backsplash and faucet can improve the kitchen's functionality and aesthetic. ↑
• Resale Install new flooring in the bathroom for a fresh and updated look. — New flooring can significantly improve the bathroom's appearance and functionality, making it more attractive to potential buyers or renters. ↑

ⓘ 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: Gibraltar Area School District
• NCES district ID: 5505220
• Math proficiency: 52% ▼ -1.00%
• Reading proficiency: 54% ▼ -4.00%
• Median HH income: $53,154
• Composite: 45.57/100
• National rank: #2598
• State rank: #45 of 342 in WI

Livability — Egg Harbor

• Score: 66/100
• State rank: #455
• US rank: #11512

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 1,529

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 (97%)
• Race & ethnicity: White 97% Two or more races 2% Hispanic / Latino 1% Native American 1%
• Common ancestry: Portuguese 8% Romanian 8% English 7%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 3% Russian/Polish/Slavic 1%

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: ▲ 4.61%
• Current HPI: 235.2831
• 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

1 event — show timeline

• 2026-05-15 Listed $158,900 RANW