Real Estate Investing in Lake Mills, Wisconsin (53551)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 53551 (Lake Mills, WI)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Elevated vacancy: 11.0% vacancy may signal weakening demand.
- High price-to-rent: Price-to-rent ratio 32.7 — hard to cash-flow at these prices.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Lake Mills, WI (53551)?
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Market Analysis: 53551 Lake Mills
The 53551 ZIP covers a section of Lake Mills that demands careful diligence. Prices near $431K look accessible, but the work to make a deal cash flow is real.
Rent of $1,098/mo on a $431K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 53551 sits below the stated 0.0% once reality is priced in.
In the broader WI picture, 53551 is a reminder that not every low-priced ZIP is a value-add opportunity — some are simply distressed, and the difference matters.
Resident income in 53551 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
Strategically, 53551 can be a high-return sleeve of a diversified portfolio — but it should not be the whole portfolio, and it should not be someone's first deal.
Here's what matters if you're considering buying a home in Lake Mills:
Property Strategy for 53551
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $293,636 | $1,220 | 3.0% | +7.1% | $146,818 |
| 3BR | $394,671 | $1,610 | 2.9% | +7.3% | $131,557 |
| 4BR | $457,330 | $1,620 | 2.6% | +7.1% | $114,332 |
Market Trends
Home Value History (with trend line)
📊 How Does 53551 Compare?
| Metric | 53551 | Lake Mills | Watertown-Fort Atkinson, WI | Wisconsin |
|---|---|---|---|---|
| Home Value | $430,570 | $430,570 | N/A | $320,446 |
| 5-Year CAGR | 5.6% | 5.6% | N/A | 7.3% |
| Avg Rent | $1,098 | $1,098 | N/A | - |
| Cap Rate | 2.0% | 2.0% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 53551 (Lake Mills, WI). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $430,570 |
| Monthly Rent | $1,098 |
| Price-to-Rent | 32.7:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.1% |
| Cap Rate | 2.0% |
| 5-Year IRR | 7.6% |
📈 Home Appreciation
| 1-Year | +6.1% ▲ |
| 3-Year CAGR | +4.7% ▲ |
| 5-Year CAGR | +5.6% ▲ |
| 10-Year CAGR | +6.8% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.0%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 53551
Population: 9,485
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 53551
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Frequently Asked Questions
How qualified is the tenant pool in Lake Mills, WI?
Expect a solid tenant pool in Lake Mills, WI. The rental market absorbs $1,098/mo rents without meaningful friction.
Is Lake Mills, WI a good market for buy-and-hold investors?
Our data puts Lake Mills, WI at 3.0/5 for investability. Home prices of $431K and rents around $1,098/mo create a solid backdrop for investor activity.
Is house hacking profitable in Lake Mills, WI?
House hacking in Lake Mills, WI is reasonable to execute. Prices around $431K and rents of $1,098/mo solid owner-occupant economics.
What is it like being a landlord in Lake Mills, WI?
WI law landlord-friendly for landlords, and Lake Mills inherits those rules. Investors should still review local ordinances for rental licensing.
How much rent can I charge in Lake Mills, WI?
Lake Mills, WI rentals go for roughly $1,098/mo a month. That puts gross yield in solid territory relative to $431K acquisition costs.
You know 53551 now. You don’t know where it ranks.
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How 53551 ranks in Watertown-Fort Atkinson, WI
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