1002 Chrysler Dr · Mishicot, WI 54228

$179,900

2 bd · 1.0 ba · 1,052 sqft · Other · 37 Days on market

Built 2002

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Why this score? — see what drove the B- 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 +28.7/30.0
• DSCR +10.0/10.0
• 1% rule +8.3/10.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Discover peaceful living in this charming 2 bedroom, 1 bath side-by-side condo located on the outskirts of Mishicot. You have easy access to 45 holes of golf, an indoor pool, and on-site dining on the scenic Fox Hills Resort property. This home offers a comfortable lifestyle with an open concept floor plan, spacious kitchen, private patio, main floor laundry and located on a quiet dead-end street. With easy access to Manitowoc and Two Rivers, you're minutes from Lake Michigan beaches while enjoying the safety and friendliness of a small-town community. Low-maintenance living at its finest!''

Key facts

• On-site dining
• Spacious kitchen
• Main floor laundry

Tags

• INDOOR POOL
• ON-SITE DINING
• OPEN CONCEPT FLOOR PLAN
• SPACIOUS KITCHEN
• PRIVATE PATIO
• MAIN FLOOR LAUNDRY

Property features AI

Finance

• Other: Assessor/public record used for year built information
• HOA & community: Condo fee listed as $0 monthly; Pets permitted

Exterior

• Parking: Attached 1-car garage (1.5 garage spaces total listed)
• Utilities: Municipal water; Municipal sewer
• Home design: Condo (Chrysler Dr Condo); One-story unit; Side-by-side building; Residence zoned Res
• Construction: 1,052 finished above-grade square feet (estimated range 1001-1250)
• Exterior features: Patio/porch; Brick, brick/stone, and vinyl exterior; Large storage shed

Interior

• Kitchen: Dishwasher; Range; Refrigerator
• Bedrooms: Master bedroom on main level; Second bedroom on main level
• Bathrooms: Shower over tub; 1 full bathroom
• Heating & cooling: Central air; Forced air heating; Natural gas heat
• Interior features: Water filtration system (owned); Water softener; In-unit laundry
• Laundry & utility: In-unit laundry (washer and dryer not included)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $180k.

Deal economics

• At list price, monthly cash flow is $599 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• Recommended offer: $175k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 70/100 on livability (#300 in WI) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety D-.
• Mishicot School District (rural): math 47% / reading 49% proficiency, ranked #61 of 342 in WI (top 18%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 18% free/reduced lunch — higher-income household profile.
• Zoned schools: Schultz Elementary (math 42% / reading 42%, grade F, #433 of 1,041 statewide, top 46%, 448 students, 26% FRL); Mishicot High (math 42% / reading 42%, grade F, #74 of 483 statewide, top 18%, 279 students, 24% FRL).
• Market conditions: 13 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 100 units permitted in Manitowoc County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Manitowoc County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $50k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($175k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $22k; list at $180k implies a 718% gain — meaningful room to come down on a strong offer.

Recommended offer $174,503 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. 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.
5. 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.
6. 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: 1.33% ✓
• Cap rate: 10.29%
• Cash-on-cash: 14.26%
• DSCR: 1.63
• GRM: 6.2

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: 4.6%
• Equity multiple: 1.18×
• Total profit: $9,050
• Equity at exit: $26,824

10-year hold

• IRR: 14.1%
• Equity multiple: 2.14×
• Total profit: $57,263
• Equity at exit: $15,554

Cash invested: $50,372 (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 54228

• Home prices YoY: -26.8%
• Active inventory: 13
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $2,400 medium
• Mortgage (P&I): −$943
• Tax from tax record: −$279 /mo · $3,347/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$504
• Net cashflow: $599

Break-even live

Break-even rent $1,642

Max offer price $179,900

Occupancy floor 70%

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
239 N Park Ln Mishicot, WI	2.0	2.0	1118	$2,400	$2.15	21d	1	0.91mi

Listing history 17 events

1. 2026-06-19
   days on market $179,900 Active 37 DOM
2. 2026-06-18
   days on market $179,900 Active 36 DOM
3. 2026-06-17
   days on market $179,900 Active 35 DOM
4. 2026-06-16
   days on market $179,900 Active 34 DOM
5. 2026-06-15
   days on market $179,900 Active 33 DOM
6. 2026-06-14
   days on market $179,900 Active 31 DOM
7. 2026-06-12
   days on market $179,900 Active 30 DOM
8. 2026-06-09
   days on market $179,900 Active 27 DOM
9. 2026-06-08
   days on market $179,900 Active 26 DOM
10. 2026-06-07
    days on market $179,900 Active 25 DOM
11. 2026-06-03
    days on market $179,900 Active 21 DOM
12. 2026-06-02
    days on market $179,900 Active 20 DOM
13. 2026-06-01
    days on market $179,900 Active 19 DOM
14. 2026-05-31
    days on market $179,900 Active 18 DOM
15. 2026-05-30
    days on market $179,900 Active 17 DOM
16. 2026-05-13
    listed $179,900 Active 598-char remark
17. 2002-04-12
    soldstatus $22,000

ⓘ 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: $3,347 · $279/mo
• Projected year-2 tax: $3,347 · $279/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥91°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,800
• − Mortgage interest: −$10,077
• − Property taxes: −$3,347
• − Insurance: −$900
• − Repairs & maintenance: −$2,304
• − Management: −$2,304
• − Depreciation: −$5,233
• Taxable income: $4,635
• Est. tax owed @ 24.0%: −$1,112
• After-tax cash flow: $6,072/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: Mishicot School District
• NCES district ID: 5509750
• Math proficiency: 47% ▲ 3.00%
• Reading proficiency: 49% ▲ 3.00%
• Median HH income: $59,706
• Composite: 42.06/100
• National rank: #3326
• State rank: #61 of 342 in WI

Livability — Mishicot

• Score: 70/100
• State rank: #300
• US rank: #7879

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mishicot, WI
• Population (ZIP): 2,886

Population outlook (Manitowoc County) Hauer SSP2

• Today (2025): 76,561 people
• By 2030: 74,096 · -3.2%
• By 2040: 67,752 · -11.5%
• By 2050: 60,731 · -20.7%
• By 2075: 48,723 · -36.4%
• By 2100: 39,250 · -48.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Romanian 14% English 5% Lithuanian 4%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Manitowoc

• 2024 margin: Strong R (+23.4) · D 37.6% · R 61.0% · Other 1.4%
• 2008→2024 swing: -30.9pp toward R · 2008: 7.5pp · 2024: -23.4pp
• All cycles: 2024: R+23.4 2020: R+23.2 2016: R+21.7 2012: R+2.8 2008: D+7.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -79.14%
• Current HPI: 216.5486
• 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

+717.7% since first listed

2 events — show timeline

• 2026-05-13 Listed $179,900 METROMLS
• 2002-04-12 Sold (Public Records) $22,000 Public Records

Property tax history

-0.5%/yr

Latest (2025): $3,347 · +18.4% YoY. Source: county tax records.