W635 Perch St · Mecan, WI 53949

$65,000

3 bd · 2.0 ba · 1,280 sqft · SingleFamily · 36 Days on market

Built 1994 Fair condition $51/sqft · 70% 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
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

3 Bed - 2 Bath (1994) - 16x80 Mobile Home in Duck Inn Mobile Park with Access to Lake Puckaway. Very Clean and Well Maintained. Make this your Year-Round Home or Perfect Weekend Getaway! This Location Offers You The Convenience of Stores and a Variety of Restaurants Close By. Short Drive To Princeton and Montello. Golf Carts Allowed, ATV Routes and Snowmobile Routes. Big Deck For Plenty Of Entertainment and 3 Storage Sheds! Park Approval Required. Lot Rent $450

Key facts

• Atv routes
• Snowmobile routes
• 3 storage sheds

Tags

• ACCESS TO LAKE PUCKAWAY
• GOLF CARTS ALLOWED
• ATV ROUTES
• SNOWMOBILE ROUTES
• BIG DECK
• 3 STORAGE SHEDS

Property features AI

Exterior

• Utilities: Shared well; Private septic system; Electric service
• Home design: Single-family home; One story (main-level living)
• Construction: Vinyl siding
• Exterior features: Vinyl exterior; Deck; Three storage sheds; Deeded lake access to Puckaway (no frontage)

Interior

• Kitchen: Equipped with stove, refrigerator, microwave, and dishwasher
• Bedrooms: Master bedroom on the main level (13 x 14); Second bedroom on the main level (7 x 11); Third bedroom on the main level (8 x 14)
• Bathrooms: Two full bathrooms; Master bathroom with walk-in shower and a separate tub/no-shower configuration
• Heating & cooling: Forced air heating; Central air conditioning; LP gas fuel
• Interior features: Open living area; Main-level living; Main-level kitchen
• Laundry & utility: Washer and dryer included

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $65k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $437 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Recommended offer: $63k (3.0% 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.
• Montello School District (rural): math 29% / reading 31% proficiency, ranked #280 of 342 in WI (top 82%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Forest Lane Community School (math 52% / reading 42%, grade D-, #319 of 1,041 statewide, top 34%, 268 students, 47% FRL); Montello Junior/Senior High (math 17% / reading 22%, grade F, #385 of 483 statewide, top 82%, 256 students, 46% FRL) — zoned schools at 47% FRL track the district average.
• Market conditions: 81 active listings in the ZIP; 95 units permitted in Marquette County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Marquette County population projected at -25% 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 $18k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($63k) is reasonable based on typical stale-listing flexibility.

Recommended offer $63,050 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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: 1.73% ✓
• Cap rate: 14.37%
• Cash-on-cash: 28.84%
• DSCR: 2.28
• GRM: 4.8

CMA / ARV

• ARV (median comp): $217,858
• List price: $65,000
• Delta: -70.16%
• Verdict: UNDERPRICED
• Comps: 14 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
W715 N Shore Dr	0.24mi	2/2.0 (-1)	1,462 (+14%)	10mo	$392,750	$269	52
N3436 W Tomahawk Trl	0.68mi	3/2.0	1,180 (-8%)	11mo	$215,000	$182	46
N3505 Huron Bay Dr	0.66mi	2/1.5 (-1)	1,235 (-4%)	22mo	$210,000	$170	38

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: 23.2%
• Equity multiple: 1.95×
• Total profit: $17,339
• Equity at exit: $9,692

10-year hold

• IRR: 31.1%
• Equity multiple: 3.80×
• Total profit: $51,036
• Equity at exit: $5,620

Cash invested: $18,200 (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 53949

• Home prices YoY: -26.8%
• Active inventory: 81
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,122 medium
• Mortgage (P&I): −$341
• Tax est. 1.5%: −$81 /mo · $975/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$236
• Net cashflow: $437

Break-even live

Break-even rent $569

Max offer price $65,000

Occupancy floor 56%

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $65,000 Active 36 DOM
2. 2026-06-17
   days on market $65,000 Active 35 DOM
3. 2026-06-16
   days on market $65,000 Active 34 DOM
4. 2026-06-15
   days on market $65,000 Active 33 DOM
5. 2026-06-15
   days on market $65,000 Active 32 DOM
6. 2026-06-13
   days on market $65,000 Active 31 DOM
7. 2026-06-12
   days on market $65,000 Active 30 DOM
8. 2026-06-09
   days on market $65,000 Active 27 DOM
9. 2026-06-08
   days on market $65,000 Active 26 DOM
10. 2026-06-08
    days on market $65,000 Active 25 DOM
11. 2026-06-07
    days on market $65,000 Active 24 DOM
12. 2026-06-03
    days on market $65,000 Active 21 DOM
13. 2026-06-02
    days on market $65,000 Active 20 DOM
14. 2026-06-01
    days on market $65,000 Active 19 DOM
15. 2026-05-31
    days on market $65,000 Active 18 DOM
16. 2026-05-13
    listed $65,000 Active 465-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: $13,467
• − Mortgage interest: −$3,641
• − Property taxes: −$975
• − Insurance: −$325
• − Repairs & maintenance: −$1,077
• − Management: −$1,077
• − Depreciation: −$1,891
• Taxable income: $4,480
• Est. tax owed @ 24.0%: −$1,075
• After-tax cash flow: $4,173/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 · 13 photos

Fair 45/100 Moderate rehab

The home requires moderate repairs and maintenance, particularly in the kitchen and bathrooms, to improve its condition and value. Upgrading the interior walls, countertops, and fixtures can significantly enhance its resale and rental appeal.

Repairs flagged

• Minor Kitchen cabinets — Worn countertops and dated cabinets suggest minor repairs or replacement needed.
• Minor Bathroom fixtures — Peeling paint and dated fixtures indicate minor repairs or replacement needed.
• Moderate Exterior siding — Weathered and discolored siding suggests moderate repairs or replacement needed.
• Minor Deck and fencing — Some areas of the deck and fencing show signs of wear, indicating minor repairs.

Value-add opportunities

• Resale Paint interior walls — Fresh paint can significantly improve the home's curb appeal and interior aesthetics.
• Resale Replace worn countertops — New countertops can enhance the kitchen's functionality and appearance, boosting resale value.
• Resale Replace dated fixtures — Upgrading fixtures can modernize the bathrooms and add value to the home.
• Resale Paint exterior siding — Fresh paint can improve the home's curb appeal and add value, especially in a mobile home park setting.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Worn countertops and dated cabinets suggest minor repairs or replacement needed.	Minor	$500–3,000
Bathroom fixtures · Peeling paint and dated fixtures indicate minor repairs or replacement needed.	Minor	$500–3,000
Exterior siding · Weathered and discolored siding suggests moderate repairs or replacement needed.	Moderate	$3,000–15,000
Deck and fencing · Some areas of the deck and fencing show signs of wear, indicating minor repairs.	Minor	$500–3,000
Total estimated repair cost · 4 items		$4,500–24,000

Value-add ROI direction

• Resale Paint interior walls — Fresh paint can significantly improve the home's curb appeal and interior aesthetics. ↑
• Resale Replace worn countertops — New countertops can enhance the kitchen's functionality and appearance, boosting resale value. ↑
• Resale Replace dated fixtures — Upgrading fixtures can modernize the bathrooms and add value to the home. ↑
• Resale Paint exterior siding — Fresh paint can improve the home's curb appeal and add value, especially in a mobile home park setting. ↑

ⓘ 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: Montello School District
• NCES district ID: 5509870
• Math proficiency: 29% ▼ -2.00%
• Reading proficiency: 31% ▬ 0.00%
• Median HH income: $43,960
• Composite: 25.62/100
• National rank: #7408
• State rank: #280 of 342 in WI

Livability — Mecan

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

Census & demographics

• Population (ZIP): 6,291

Population outlook (Marquette County) Hauer SSP2

• Today (2025): 14,049 people
• By 2030: 13,362 · -4.9%
• By 2040: 11,850 · -15.7%
• By 2050: 10,519 · -25.1%
• By 2075: 8,457 · -39.8%
• By 2100: 7,077 · -49.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Hispanic / Latino 3% Two or more races 3%
• Common ancestry: Romanian 11% Portuguese 5% Lithuanian 1%
• Foreign-born: 1%
• Languages at home: 98% English-only · German/W. Germanic 1%

Political lean MEDSL · Marquette

• 2024 margin: Strong R (+29.6) · D 34.6% · R 64.2% · Other 1.2%
• 2008→2024 swing: -34.9pp toward R · 2008: 5.3pp · 2024: -29.6pp
• All cycles: 2024: R+29.6 2020: R+27.4 2016: R+24.4 2012: D+4.5 2008: D+5.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -83.86%
• Current HPI: 229.6668
• 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

• 2026-05-13 Listed $65,000 SCWMLS