N1203 Big Sky Rd · Menominee, WI 54135

$140,000

2 bd · 1.0 ba · 1,024 sqft · Manufactured public records · 29 Days on market

Built 2012 1.04 ac lot $32/mo HOA · 3% of rent ↓ 18% since listing

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Why this score? — see what drove the F 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).

• Appreciation +9.2/10.0
• ARV discount +7.5/15.0
• Cash flow +6.9/30.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.7/10.0
• DSCR +1.1/10.0
• Schools +0.8/10.0

Listing remarks MLS

Enjoy lake life without waterfront taxes! This 3 bed, 2 bath manufactured home sits on 1.04 wooded acres in the Big Sky Addition of Legend Lake. Includes deeded access to a Beach Club ? great for swimming, boating, and more. Zoned residential, it?s perfect for year-round living, camping, or future building. Parcel #01040017040 (lot 64) included. Drive by and call today for a private showing!

Key facts

• New metal roof
• Beach club access
• Additional lot

Tags

• NEW METAL ROOF
• ADDITIONAL LOT
• BEACH CLUB ACCESS

Property features AI

Finance

• Other: Deeded water access (no frontage); Lot size approximately 1.04 acres; Zoned residential
• HOA & community: Annual HOA fee (paid annually)

Exterior

• Utilities: Well water; Private septic
• Home design: Single-family, 1 story; Construction completed
• Construction: Estimated finished above-grade area about 1,024; No finished below-grade area
• Exterior features: Deck; Vinyl exterior

Interior

• Kitchen: Range/oven; Refrigerator
• Bedrooms: Master bedroom on main level (12 x 10); Second bedroom on main level (12 x 9); Third bedroom on main level (12 x 9)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (LP gas)
• Interior features: Crawl space foundation
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $140k.

Deal economics

• At list price, monthly cash flow is $-213 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $102k (26.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $94k (32.6% below list).
• Recommended offer: $94k (32.6% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade F — affects rentability + tenant quality, not the cash-flow math above.
• Menominee Indian School District (rural): math 3% / reading 6% proficiency, ranked #425 of 426 in WI (top 100%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 80% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 38 active listings in the ZIP; 14 units permitted in Menominee County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $13k of equity ($968 loan paydown + $12k appreciation (8.5% local appreciation)).
• Menominee County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 3, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($138k) is reasonable based on typical stale-listing flexibility.
• 3 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 $94,348 (32.6% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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 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: 0.67% ✗
• Cap rate: 4.47%
• Cash-on-cash: -6.52%
• DSCR: 0.71
• GRM: 12.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

8.5% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 16.3%
• Equity multiple: 2.24×
• Total profit: $48,617
• Equity at exit: $111,143

10-year hold

• IRR: 15.7%
• Equity multiple: 4.86×
• Total profit: $151,466
• Equity at exit: $225,342

Cash invested: $39,200 (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 54135

• Home prices YoY: 4.3%
• Active inventory: 38
• Price-to-rent: 12.4×

Monthly cashflow live

• Estimated rent: $943 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$134 /mo · $1,605/yr
• Insurance: −$58
• HOA: −$32
• Vacancy / Maint / Mgmt: −$198
• Net cashflow: $-213

Break-even live

Break-even rent $1,213

Max offer price $102,394

Occupancy floor —

Sensitivity live

Price	-10% $-134	-5% $-173	+0% $-213	+5% $-253	+10% $-292
Rent	-10% $-287	-5% $-250	+0% $-213	+5% $-176	+10% $-138
Rate	-1.0pp $-142	-0.5pp $-177	base $-213	+0.5pp $-249	+1.0pp $-286

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

HOA detail

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

Listing history 22 events

1. 2026-06-21
   days on market $140,000 Active 29 DOM
2. 2026-06-18
   days on market $140,000 Active 27 DOM
3. 2026-06-17
   days on market $140,000 Active 26 DOM
4. 2026-06-16
   days on market $140,000 Active 25 DOM
5. 2026-06-15
   days on market $140,000 Active 24 DOM
6. 2026-06-15
   days on market $140,000 Active 23 DOM
7. 2026-06-13
   days on market $140,000 Active 22 DOM
8. 2026-06-12
   days on market $140,000 Active 21 DOM
9. 2026-06-09
   days on market $140,000 Active 18 DOM
10. 2026-06-08
    days on market $140,000 Active 17 DOM
11. 2026-06-08
    days on market $140,000 Active 16 DOM
12. 2026-06-05
    days on market $140,000 Active 14 DOM
13. 2026-06-03
    days on market $140,000 Active 12 DOM
14. 2026-06-02
    days on market $140,000 Active 11 DOM
15. 2026-06-01
    days on market $140,000 Active 10 DOM
16. 2026-05-31
    days on market $140,000 Active 9 DOM
17. 2026-05-18
    listed $140,000 Active
18. 2026-01-19
    historical 394-char remark

    Show marketing remark (394 chars)

    Enjoy lake life without waterfront taxes! This 3 bed, 2 bath manufactured home sits on 1.04 wooded acres in the Big Sky Addition of Legend Lake. Includes deeded access to a Beach Club ? great for swimming, boating, and more. Zoned residential, it?s perfect for year-round living, camping, or future building. Parcel #01040017040 (lot 64) included. Drive by and call today for a private showing!

19. 2025-10-19
    price $155,000 394-char remark

    Show marketing remark (394 chars)

    Enjoy lake life without waterfront taxes! This 3 bed, 2 bath manufactured home sits on 1.04 wooded acres in the Big Sky Addition of Legend Lake. Includes deeded access to a Beach Club ? great for swimming, boating, and more. Zoned residential, it?s perfect for year-round living, camping, or future building. Parcel #01040017040 (lot 64) included. Drive by and call today for a private showing!

20. 2025-10-10
    status Active 394-char remark

    Show marketing remark (394 chars)

    Enjoy lake life without waterfront taxes! This 3 bed, 2 bath manufactured home sits on 1.04 wooded acres in the Big Sky Addition of Legend Lake. Includes deeded access to a Beach Club ? great for swimming, boating, and more. Zoned residential, it?s perfect for year-round living, camping, or future building. Parcel #01040017040 (lot 64) included. Drive by and call today for a private showing!

21. 2025-09-09
    historical Active w/ Contract 394-char remark

    Show marketing remark (394 chars)

    Enjoy lake life without waterfront taxes! This 3 bed, 2 bath manufactured home sits on 1.04 wooded acres in the Big Sky Addition of Legend Lake. Includes deeded access to a Beach Club ? great for swimming, boating, and more. Zoned residential, it?s perfect for year-round living, camping, or future building. Parcel #01040017040 (lot 64) included. Drive by and call today for a private showing!

22. 2025-07-18
    listed $169,900 Active 394-char remark

    Show marketing remark (394 chars)

    Enjoy lake life without waterfront taxes! This 3 bed, 2 bath manufactured home sits on 1.04 wooded acres in the Big Sky Addition of Legend Lake. Includes deeded access to a Beach Club ? great for swimming, boating, and more. Zoned residential, it?s perfect for year-round living, camping, or future building. Parcel #01040017040 (lot 64) included. Drive by and call today for a private showing!

ⓘ 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: $1,605 · $134/mo
• Projected year-2 tax: $2,097 · $175/mo
• Expected delta: +$493/yr (+$41/mo · 30.7%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥97°F today · 12 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,322
• − Mortgage interest: −$7,842
• − Property taxes: −$1,605
• − Insurance: −$700
• − Repairs & maintenance: −$906
• − Management: −$906
• − HOA: −$384
• − Depreciation: −$4,073
• Taxable loss: −$5,093
• Est. tax savings @ 24.0%: +$1,222
• After-tax cash flow: $-1,332/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: Menominee Indian School District
• NCES district ID: 5509070
• Math proficiency: 3% ▬ 0.00%
• Reading proficiency: 6% ▼ -2.00%
• Median HH income: $36,081
• Composite: 7.6/100
• National rank: #14779
• State rank: #425 of 426 in WI

Livability — Menominee

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

Census & demographics

• Census place: Legend Lake, WI
• Population (ZIP): 2,968

Population outlook (Menominee County) Hauer SSP2

• Today (2025): 4,792 people
• By 2030: 4,922 · +2.7%
• By 2040: 5,165 · +7.8%
• By 2050: 5,225 · +9.0%
• By 2075: 5,346 · +11.6%
• By 2100: 4,956 · +3.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.98)
• Race & ethnicity: Native American 78% White 15% Two or more races 6% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 4% Puerto Rican 1%
• Common ancestry: Romanian 2% Iranian 1% Portuguese 1%
• Foreign-born: 0%

Political lean MEDSL · Menominee

• 2024 margin: Solid D (+61.7) · D 80.5% · R 18.8%
• 2008→2024 swing: -12.3pp toward R · 2008: 74.0pp · 2024: 61.7pp
• All cycles: 2024: D+61.7 2020: D+64.5 2016: D+57.4 2012: D+73.5 2008: D+74.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 8.50%
• Current HPI: 204.5569
• 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

-17.6% since first listed

6 events — show timeline

• 2026-05-18 Listed $140,000 RANW
• 2026-01-19 Listing Removed — RANW
• 2025-10-19 Price Changed $155,000 RANW
• 2025-10-10 Relisted — RANW
• 2025-09-09 Contingent — RANW
• 2025-07-18 Listed $169,900 RANW

Property tax history

+1.4%/yr

Latest (2025): $1,605 · +1.1% YoY. Source: county tax records.