Listing Agency: RE/MAX Universal Show Phone

Listed By: Beaudoin Team* Show Phone

Source: Exprealty

Added: Jun 5 Changed: Aug 22 Last Checked: Aug 22 at 10:53AM

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Investment Insights

Based on property information with market context.

This mixed-use rental property includes multiple levels with both residential and income-producing components. The main and lower levels are currently rented on a month-to-month basis, generating $3,000 per month. The upper unit features 3 bedrooms, 2 full bathrooms, and a sun porch/four-season room that can serve as an additional comfortable living space year-round.

During June through September, the upper unit operates as an Airbnb. From October through May, it is rented to traveling nurses for $1,700 per month, creating a seasonal variation in use that is already reflected in the property’s current operating history. The property is described as being in the heart of Elkhart Lake, with downtown restaurants, shops, and attractions within walking distance, and it is also close to Road America and golf courses.

For an owner-occupant, the layout supports living in the upper unit while continuing to collect rent from the main and lower levels. For investors, the current leasing structure across levels provides a basis for evaluating a property that blends long-term and short-term rental operation within one building.

Key Highlights

• Main and lower levels are currently rented month‑to‑month, generating $3,000 per month
• Upper unit has 3 beds and 2 full baths plus a sun porch/four‑season room
• Upper unit operates as an Airbnb from June through September

Property Analytics

Property Profile

Current Use

AspenOak Home Store (Bike/Boat/Book/etc) Store

Suggested Use

Top Pick Parking Lot & Garage Electrical Service Plumbing Service Auto Parts Store Bakery (Bike/Boat/Book/etc) Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

191

Businesses Nearby

Explore this area Business Placement

Demographics for 53020, WI

3,474

Population

1,865

Households

1.9

Avg Household Size

53

Median Age

31%

College-Educated

97%

High-School Grad

62.8 sq mi

ZIP Area

55

Density / Sq Mi

$90,536

Median Household Income

$50,945

Median Earnings

$1,108

Median Rent

$322,700

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

Questions? Ask Rey

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What type of property is this? Where is this short term rental properties located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Short term rental property - Upper unit includes a sun porch/four-season room, with other levels currently leased for monthly rental income.

Where is this short term rental property located?

The property is located at 141 E Rhine St Elkhart Lake, WI.

What is the asking price?

The asking price for this property is $824,999.

What are key features of this property?

This property features: Main and lower levels are currently rented month‑to‑month, generating $3,000 per month; Upper unit has 3 beds and 2 full baths plus a sun porch/four‑season room; Upper unit operates as an Airbnb from June through September