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$196,500

For Sale - Active
111 Center St Unit 355, Lake Geneva, WI 53147
1 Bed
0 Baths
640 Square Feet
0.00 Acres Lot
Built in 1995
For Sale - Active
222 Units
Checked: 12 hours ago
Updated: May 21, 2025 at 03:09AM

Investment Summary


Potential Missing Expenses

We noticed that HOA fees are missing—this is a standard expense and should be considered in your estimate.

Monthly Cash Flow
-$205
Cap Rate
5.0%
Cash-on-Cash Return
-5.4%
Debt Coverage Ratio
0.80
Internal Rate of Return (5 years)
-1.3%

Property Description


0.00 Acres Lot
Built in 1995
For Sale - Active
222 Units

Experience resort-style living at The Cove of Lake Geneva! This beautifully furnished 3rd-floor condo offers a spacious balcony & an ideal location just steps from downtown. The unit features a king size bed, queen size pull-out sleeper sofa, cozy fireplace, breakfast bar, & flat-screen TVs--everything you need is included & ready to enjoy. This condo is fully furnished, everything is included. Exceptional amenities include the largest outdoor pool complex in downtown Lake Geneva, plus an indoor pool, 2 hot tubs, fitness center, game room, & courts for pickleball, tennis, and basketball. Enjoy on-site dining & unbeatable proximity--just across the street from the beach & boat launch. Perfect for your personal retreat and an excellent opportunity for rental income through the onsite program.

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Location


Property Details


Parking

  • Description: Surface
  • Garage Spaces: 0
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 1

Bathroom Information

  • # of Baths (Full): 1
  • # of Baths (Total): 0.0

Interior Features

  • # of Rooms: 4
  • # of Stories: 1

Land Information

  • Land Use: Residential
  • Land Use Subtype: Condominium Unit

Lot Information

  • Parcel ID: ZCOV00355
  • Lot Size: 0 sqft

Property Information

  • Property Type: Condominium
  • Year Built: 1995

Tax Information

  • Annual Tax: $1,698

Utilities

  • Water & Sewer: Public
  • Heating: Electric

Location

  • County: Walworth

Listing Details


Listed by:
Claudia Germann
Shorewest Realtors, Inc.
(262) 248-1020

Source:
Wisconsin Real Estate Exchange
MLS#: 803866345830
Wisconsin Real Estate Exchange

Investment Summary


Potential Missing Expenses

We noticed that HOA fees are missing—this is a standard expense and should be considered in your estimate.

Monthly Cash Flow
-$205
Cap Rate
5.0%
Cash-on-Cash Return
-5.4%
Debt Coverage Ratio
0.80
Internal Rate of Return (5 years)
-1.3%

Purchase Details

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Purchase price:
$196,500
Amount financed:
-$157,200
Down payment:
$39,300
Closing costs:
$5,895
Rehab costs:
$0
Initial cash invested:
$45,195
Square feet:
640
Cost per square foot:
$307
Monthly rent per square foot:
$2.19

Financing Details

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Loan amount:
$157,200
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.840%
Principal & interest:
$1,029
Property tax:
$142
Insurance:
$98
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,269

Operating Income

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% Rent Monthly Yearly
Gross rent:
$1,400 $16,800
Vacancy loss: (6%)
6% -$84 -$1,008
Operating income:
$1,316 $15,792

Operating Expenses


% Rent Monthly Yearly
Property taxes: (10%)
10%-$142-$1,698
Insurance: (7%)
7%-$98-$1,176
Property management: (8%)
8%-$112-$1,344
Repairs & maintenance: (5%)
5%-$70-$840
Capital expenditures: (5%)
5%-$70-$840
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (35%)
35%-$492-$5,898

Cash Flow


Monthly Yearly
Net operating income:
$824 $9,888
Mortgage payments:
-$1,029 -$12,348
Cash flow:
$205 $2,460