N5488 Black Rd · Lisbon, WI 53948

$68,000

2 bd · 1.0 ba · 580 sqft · Other · 29 Days on market

2.70 ac lot

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.7/10.0
• ARV discount +7.5/15.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks

Investor special with endless potential! Older mobile home has not been inhabited for many years & is ready for a complete renovation or possible replacement. Great opportunity for investors, flippers, or buyers looking for a summer project. Property offers good bones but requires a total interior gut. Features include 2 bedrooms, 1 full bath, living room addition with free-standing wood burning fireplace, 10x13 screened porch & older 8x21 storage shed in poor condition. Per county records, septic is a 2-bedroom system with concrete tank installed in 1982; system has not been inspected in many years due to inhabitable condition of the property. Well location is unknown. Electric

Key facts

• Complete renovation
• Storage shed
• Wooded acres

Tags

• COMPLETE RENOVATION
• LIVING ROOM ADDITION
• SCREENED PORCH
• STORAGE SHED
• WOODED ACRES
• MATURE MIXED TREES

Property features AI

Finance

• Other: Lot acreage approximately 2.7 acres; Zoned AG/Open; Seller includes all contents of the storage shed
• HOA & community: No HOA fees

Exterior

• Utilities: Private septic system; No public water presently; LP gas
• Home design: Single-family, 1-story home; Estimated living area 750 sq ft or less; Finished above-grade area reported
• Construction: Wood construction
• Exterior features: Wood exterior; Covered porch (10 x 13); Screened porch table with 2 chairs included; Storage building and remains of old shed included; LP tank included; Wooded lot

Interior

• Kitchen: Refrigerator
• Bedrooms: Main-level master bedroom (8 x 10); Main-level bedroom 2 (8 x 10)
• Bathrooms: 1 full bathroom; No master bathroom
• Heating & cooling: LP gas heating
• Interior features: High speed internet; Free standing wood burning stove in living room

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $68k.

Deal economics

• At list price, monthly cash flow is $370 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $68k).
• Recommended offer: $67k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• New Lisbon School District (rural): math 13% / reading 21% proficiency, ranked #334 of 342 in WI (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: New Lisbon Elementary (math 17% / reading 22%, grade F, #864 of 1,041 statewide, top 85%, 334 students, 55% FRL); New Lisbon Junior High/High (math 8% / reading 17%, grade F, #435 of 483 statewide, top 90%, 248 students, 45% FRL).
• Market conditions: 61 active listings in the ZIP; 154 units permitted in Juneau County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $470 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Juneau County population projected at -19% 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 $19k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($67k) is reasonable based on typical stale-listing flexibility.

Recommended offer $66,980 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 1.47% ✓
• Cap rate: 12.82%
• Cash-on-cash: 23.32%
• DSCR: 2.04
• GRM: 5.7

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: 16.3%
• Equity multiple: 1.66×
• Total profit: $12,530
• Equity at exit: $10,139

10-year hold

• IRR: 24.9%
• Equity multiple: 3.16×
• Total profit: $41,193
• Equity at exit: $5,879

Cash invested: $19,040 (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 53948

• Home prices YoY: -29.4%
• Active inventory: 61
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,002 medium
• Mortgage (P&I): −$357
• Tax from tax record: −$37 /mo · $444/yr
• Insurance: −$28
• HOA: −$0
• Vacancy / Maint / Mgmt: −$210
• Net cashflow: $370

Break-even live

Break-even rent $534

Max offer price $68,000

Occupancy floor 58%

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: $17,000
• Closing costs: $2,040
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $68,000 Active 29 DOM
2. 2026-06-17
   days on market $68,000 Active 28 DOM
3. 2026-06-16
   days on market $68,000 Active 27 DOM
4. 2026-06-15
   days on market $68,000 Active 26 DOM
5. 2026-06-15
   days on market $68,000 Active 25 DOM
6. 2026-06-13
   days on market $68,000 Active 24 DOM
7. 2026-06-12
   days on market $68,000 Active 23 DOM
8. 2026-06-09
   days on market $68,000 Active 20 DOM
9. 2026-06-08
   days on market $68,000 Active 19 DOM
10. 2026-06-08
    days on market $68,000 Active 18 DOM
11. 2026-06-07
    days on market $68,000 Active 17 DOM
12. 2026-06-03
    days on market $68,000 Active 14 DOM
13. 2026-06-02
    days on market $68,000 Active 13 DOM
14. 2026-06-01
    days on market $68,000 Active 12 DOM
15. 2026-05-31
    days on market $68,000 Active 11 DOM
16. 2026-05-18
    listed $68,000 Active

ⓘ 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: $444 · $37/mo
• Projected year-2 tax: $851 · $71/mo
• Expected delta: +$407/yr (+$34/mo · 91.7%)

ⓘ 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 2/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥98°F today · 13 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,028
• − Mortgage interest: −$3,809
• − Property taxes: −$444
• − Insurance: −$340
• − Repairs & maintenance: −$962
• − Management: −$962
• − Depreciation: −$1,978
• Taxable income: $3,533
• Est. tax owed @ 24.0%: −$848
• After-tax cash flow: $3,592/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: New Lisbon School District
• NCES district ID: 5510560
• Math proficiency: 13% ▼ -9.00%
• Reading proficiency: 21% ▼ -7.00%
• Median HH income: $45,996
• Composite: 15.02/100
• National rank: #9358
• State rank: #334 of 342 in WI

Livability — Lisbon

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

Census & demographics

• Population (ZIP): 8,221

Population outlook (Juneau County) Hauer SSP2

• Today (2025): 25,013 people
• By 2030: 24,154 · -3.4%
• By 2040: 22,217 · -11.2%
• By 2050: 20,276 · -18.9%
• By 2075: 15,919 · -36.4%
• By 2100: 11,351 · -54.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 5% Black 3% Hispanic / Latino 2%
• Common ancestry: Romanian 10% Portuguese 8% Lithuanian 2%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Russian/Polish/Slavic 2% Spanish 2% German/W. Germanic 1%

Political lean MEDSL · Juneau

• 2024 margin: Solid R (+32.1) · D 33.4% · R 65.6% · Other 1.0%
• 2008→2024 swing: -41.1pp toward R · 2008: 9.0pp · 2024: -32.1pp
• All cycles: 2024: R+32.1 2020: R+29.2 2016: R+26.3 2012: D+7.1 2008: D+9.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -109.90%
• Current HPI: 263.4253
• 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

• 2026-05-18 Listed $68,000 SCWMLS

Property tax history

+2.4%/yr

Latest (2025): $444 · -16.3% YoY. Source: county tax records.