118 Park Drive #254 · Colfax, WI 54730

$59,900

3 bd · 2.0 ba · 1,180 sqft · SingleFamily · 30 Days on market

Built 2000 Poor condition $51/sqft · 72% below area

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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 +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks

Personal property sale - no land included. This well-maintained 16x80 manufactured home in Colfax offers 3 bedrooms and 2 full bathrooms, providing plenty of space for comfortable living. The open-concept layout creates a welcoming atmosphere, perfect for both everyday living and entertaining. The spacious kitchen features ample cabinetry and flows seamlessly into the dining and living areas. The primary suite includes a private full bath, while two additional bedrooms offer flexibility for family, guests, or a home office.

Key facts

• Built 2000
• Listed 30 days

Property features AI

Finance

• Other: Estimated finished above-grade living area about 1,180 (range listed 1001-1250)
• Financial info: No investor or income/expense details provided
• HOA & community: No HOA information provided

Exterior

• Parking: No parking details provided
• Security: No security features provided
• Utilities: Municipal water; Municipal sewer; Natural gas service
• Home design: Single-family property; One story (main level living); Located in Colfax (city)
• Construction: No year built provided; Vinyl construction; Slab foundation
• Exterior features: Deck; Vinyl exterior

Interior

• Kitchen: Range/Oven; Refrigerator; Stove included
• Bedrooms: Master bedroom (Main) approximately 12 x 14; Bedroom 2 (Main) approximately 9 x 11; Bedroom 3 (Main) approximately 10 x 14
• Flooring: No flooring details provided
• Bathrooms: Two full bathrooms, including a master full bath
• Heating & cooling: Forced air heating (Natural gas); Central air conditioning
• Interior features: Living room on the main level; Kitchen on the main level; Slab foundation / no basement
• Laundry & utility: No specific laundry details provided

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $60k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $429 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $59k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 79/100 on livability (#90 in WI, #2,269 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools C-, amenities D-, commute F.
• Colfax School District (rural): math 40% / reading 38% proficiency, ranked #156 of 342 in WI (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 24 active listings in the ZIP; 151 units permitted in Dunn County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $414 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($59k) is reasonable based on typical stale-listing flexibility.

Recommended offer $59,001 (1.5% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.78% ✓
• Cap rate: 14.89%
• Cash-on-cash: 30.71%
• DSCR: 2.37
• GRM: 4.7

CMA / ARV

• ARV (median comp): $214,700
• List price: $59,900
• Delta: -72.10%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
118 Park Drive #254	0.00mi	3/2.0	1,180 (0%)	1mo	$48,750	$41	100
211 Main St	0.27mi	3/1.5	1,140 (-3%)	3mo	$250,000	$219	77
204 Dunn St	0.13mi	2/2.0 (-1)	1,306 (+11%)	12mo	$359,900	$276	61

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 25.4%
• Equity multiple: 2.05×
• Total profit: $17,646
• Equity at exit: $8,931

10-year hold

• IRR: 33.2%
• Equity multiple: 4.02×
• Total profit: $50,632
• Equity at exit: $5,179

Cash invested: $16,772 (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 54730

• Active inventory: 24
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $1,067 medium
• Mortgage (P&I): −$314
• Tax est. 1.5%: −$75 /mo · $898/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$224
• Net cashflow: $429

Break-even live

Break-even rent $524

Max offer price $59,900

Occupancy floor 55%

Sensitivity live

Price	-10% $471	-5% $450	+0% $429	+5% $409	+10% $388
Rent	-10% $345	-5% $387	+0% $429	+5% $471	+10% $514
Rate	-1.0pp $459	-0.5pp $444	base $429	+0.5pp $414	+1.0pp $398

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-05-18
   historical Offer Show 529-char remark
2. 2026-04-28
   listed $59,900 Active 529-char remark

ⓘ 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: $12,808
• − Mortgage interest: −$3,355
• − Property taxes: −$898
• − Insurance: −$300
• − Repairs & maintenance: −$1,025
• − Management: −$1,025
• − Depreciation: −$1,743
• Taxable income: $4,463
• Est. tax owed @ 24.0%: −$1,071
• After-tax cash flow: $4,080/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 · 1 photo

Poor 20/100 Extensive rehab

This home requires extensive repairs and maintenance, including a new roof, siding, and HVAC system, as well as landscaping improvements. Significant investment is needed to bring the property up to a livable condition.

Repairs flagged

• Major roof — Signs of water damage and potential leaks.
• Major siding — Peeling paint and siding indicates significant wear and tear.
• Major flooring — Uneven and in poor condition, likely requiring replacement.
• Major interior walls/paint — Signs of water damage and peeling paint, indicating significant damage.
• Major HVAC/mechanicals — Old and in need of maintenance or replacement.
• Major landscaping — Overgrown and in poor condition, requiring significant landscaping work.

Value-add opportunities

• Resale roof replacement — A new roof will significantly improve the home's appearance and value.
• Resale exterior siding and paint — New siding and paint will enhance the home's curb appeal and value.
• Both HVAC system replacement — A new HVAC system will improve comfort and energy efficiency, benefiting both resale and rental value.
• Both landscaping and curb appeal — A well-maintained landscape will enhance the home's curb appeal and attract potential buyers or renters.

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · Signs of water damage and potential leaks.	Major	$15,000–50,000
siding · Peeling paint and siding indicates significant wear and tear.	Major	$15,000–50,000
flooring · Uneven and in poor condition, likely requiring replacement.	Major	$15,000–50,000
interior walls/paint · Signs of water damage and peeling paint, indicating significant damage.	Major	$15,000–50,000
HVAC/mechanicals · Old and in need of maintenance or replacement.	Major	$15,000–50,000
landscaping · Overgrown and in poor condition, requiring significant landscaping work.	Major	$15,000–50,000
Total estimated repair cost · 6 items		$90,000–300,000

Value-add ROI direction

• Resale roof replacement — A new roof will significantly improve the home's appearance and value. ↑
• Resale exterior siding and paint — New siding and paint will enhance the home's curb appeal and value. ↑
• Both HVAC system replacement — A new HVAC system will improve comfort and energy efficiency, benefiting both resale and rental value. ↑
• Both landscaping and curb appeal — A well-maintained landscape will enhance the home's curb appeal and attract 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: Colfax School District
• NCES district ID: 5502790
• Math proficiency: 40% ▼ -6.00%
• Reading proficiency: 38% ▼ -2.00%
• Median HH income: $56,017
• Composite: 34.25/100
• National rank: #5255
• State rank: #156 of 342 in WI

Livability — Colfax

• Score: 79/100
• State rank: #90
• US rank: #2269

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Colfax, WI
• Population (ZIP): 5,514

Population outlook (Dunn County) Hauer SSP2

• Today (2025): 45,435 people
• By 2030: 45,694 · +0.6%
• By 2040: 45,329 · -0.2%
• By 2050: 44,343 · -2.4%
• By 2075: 42,497 · -6.5%
• By 2100: 40,616 · -10.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 5% Asian 2% Hispanic / Latino 2%
• Common ancestry: Portuguese 20% Lithuanian 3% Romanian 2%
• Foreign-born: 3% · Canada, China
• Languages at home: 96% English-only · Spanish 2% Other Asian/Pacific 1%

Political lean MEDSL · Dunn

• 2024 margin: R (+15.9) · D 41.5% · R 57.4% · Other 1.2%
• 2008→2024 swing: -30.9pp toward R · 2008: 14.9pp · 2024: -15.9pp
• All cycles: 2024: R+15.9 2020: R+13.9 2016: R+11.2 2012: D+5.0 2008: D+14.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -141.97%
• Current HPI: 249.9487
• 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

4 events — show timeline

• 2026-06-04 Sold (MLS) — SCWMLS
• 2026-05-28 Pending — SCWMLS
• 2026-05-18 Contingent — SCWMLS
• 2026-04-28 Listed $59,900 SCWMLS