855 E Lake Street Site 27 · Lake Mills, WI 53551

$70,100

2 bd · 1.0 ba · 784 sqft · Manufactured · 85 Days on market

Built 2024

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Key facts

• Basketball court
• Clubhouse amenities
• Modern bathroom

Tags

• PREMIUM ENTRY DOORS
• MODERN BATHROOM
• BRAND NAME APPLIANCES
• CLUBHOUSE AMENITIES
• BASKETBALL COURT
• COMMUNITY EVENTS

Property features AI

Finance

• Other: Listing status: Active
• Financial info: List price $69,600

Exterior

• Utilities: Natural gas; Central air
• Home design: Spec new construction (Plan 92223)
• Exterior features: Located at 855 E Lake Street Site 27, Lake Mills, WI 53551

Interior

• Bedrooms: 2 bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Living area of 784

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $70k.

Deal economics

• At list price, monthly cash flow is $624 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $66k (6.0% below list) — sets the bar for market timing.
• Cap rate 17.0% vs local median 1.9% in Lake Mills — 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 80/100 on livability (#68 in WI, #1,833 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Lake Mills Area School District (town): math 38% / reading 39% proficiency, ranked #152 of 342 in WI (top 44%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Lake Mills Elementary (math 42% / reading 42%, grade F, #433 of 1,041 statewide, top 46%, 610 students, 22% FRL); Lake Mills Middle (math 35% / reading 39%, grade F, #175 of 383 statewide, top 48%, 410 students, 30% FRL); Lake Mills High (math 37% / reading 32%, grade F, #144 of 483 statewide, top 36%, 488 students, 30% FRL).
• Market conditions: 34 active listings in the ZIP; 145 units permitted in Jefferson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $485 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Jefferson County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 85 days — a 6% lower offer ($66k) is reasonable based on typical stale-listing flexibility.

Recommended offer $65,894 (6.0% below list)

Questions for the listing agent

1. It's been on market 85 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 2.00% ✓
• Cap rate: 16.98%
• Cash-on-cash: 38.17%
• DSCR: 2.70
• GRM: 4.2

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: 34.3%
• Equity multiple: 2.45×
• Total profit: $28,421
• Equity at exit: $10,452

10-year hold

• IRR: 41.1%
• Equity multiple: 4.87×
• Total profit: $76,031
• Equity at exit: $6,061

Cash invested: $19,628 (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 53551

• Active inventory: 34
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $1,403 medium
• Mortgage (P&I): −$368
• Tax est. 1.5%: −$88 /mo · $1,052/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$295
• Net cashflow: $624

Break-even live

Break-even rent $613

Max offer price $70,100

Occupancy floor 51%

Sensitivity live

Price	-10% $673	-5% $648	+0% $624	+5% $600	+10% $576
Rent	-10% $513	-5% $569	+0% $624	+5% $680	+10% $735
Rate	-1.0pp $660	-0.5pp $642	base $624	+0.5pp $606	+1.0pp $588

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: $17,525
• Closing costs: $2,103
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-21
   days on market $70,100 Active 85 DOM
2. 2026-06-19
   days on market $70,100 Active 83 DOM
3. 2026-06-18
   days on market $70,100 Active 82 DOM
4. 2026-06-17
   days on market $70,100 Active 81 DOM
5. 2026-06-16
   days on market $70,100 Active 80 DOM
6. 2026-06-15
   days on market $70,100 Active 79 DOM
7. 2026-06-14
   days on market $70,100 Active 77 DOM
8. 2026-06-12
   days on market $70,100 Active 76 DOM
9. 2026-06-09
   days on market $70,100 Active 73 DOM
10. 2026-06-08
    days on market $70,100 Active 72 DOM
11. 2026-06-07
    days on market $70,100 Active 71 DOM
12. 2026-06-05
    days on market $70,100 Active 69 DOM
13. 2026-06-04
    days on market $70,100 Active 67 DOM
14. 2026-06-02
    days on market $70,100 Active 66 DOM
15. 2026-06-01
    price $70,100 Active 65 DOM
16. 2026-06-01
    days on market $69,600 Active 65 DOM
17. 2026-05-31
    days on market $69,600 Active 64 DOM
18. 2026-05-31
    days on market $69,600 Active 63 DOM

ⓘ 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: $16,841
• − Mortgage interest: −$3,927
• − Property taxes: −$1,052
• − Insurance: −$350
• − Repairs & maintenance: −$1,347
• − Management: −$1,347
• − Depreciation: −$2,039
• Taxable income: $6,779
• Est. tax owed @ 24.0%: −$1,627
• After-tax cash flow: $5,864/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: Lake Mills Area School District
• NCES district ID: 5507710
• Math proficiency: 38% ▼ -11.00%
• Reading proficiency: 39% ▼ -6.00%
• Median HH income: $62,848
• Composite: 34.48/100
• National rank: #5186
• State rank: #152 of 342 in WI

Livability — Lake Mills

• Score: 80/100
• State rank: #68
• US rank: #1833

Category grades

Amenities F Commute F Cost of living A+ 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: Lake Mills, WI
• City population: 9,485
• Population (ZIP): 9,485

Population outlook (Jefferson County) Hauer SSP2

• Today (2025): 86,617 people
• By 2030: 86,818 · +0.2%
• By 2040: 85,552 · -1.2%
• By 2050: 81,765 · -5.6%
• By 2075: 68,937 · -20.4%
• By 2100: 55,854 · -35.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Hispanic / Latino 6% Two or more races 5% Native American 1%
• Hispanic origin (detail): Mexican 4% Cuban 1%
• Common ancestry: Romanian 8% Portuguese 6% Lithuanian 3%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1% French/Haitian/Cajun 1% German/W. Germanic 1%

Political lean MEDSL · Jefferson

• 2024 margin: R (+16.4) · D 41.1% · R 57.5% · Other 1.4%
• 2008→2024 swing: -17.2pp toward R · 2008: 0.8pp · 2024: -16.4pp
• All cycles: 2024: R+16.4 2020: R+15.2 2016: R+16.2 2012: R+7.6 2008: D+0.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -185.97%
• Current HPI: 213.919
• 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