117 Misty Pines Dr · Lake Delton, WI 53965

$99,500

1 bd · 1.0 ba · 400 sqft · Condo · 116 Days on market

Built 1997 Fair condition $249/sqft · 6% below area Est $106k · 6% under $59/mo HOA · 6% of rent ↓ 6% since listing

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Why this score? — see what drove the C- 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 +17.7/30.0
• ARV discount +10.3/15.0
• 1% rule +5.5/10.0
• DSCR +5.5/10.0
• Livability +3.9/5.0
• Schools +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This property has a nice lot with a covered porch, fire pit and a convenient shed. The park model has a loft for extra sleeping or storage and is in very good condition. You own the land and have city sewer/water, natural gas and 100 amp electric. This property is available for year-a-round use. This property is walking distance to a playground, pool, hot tub and Spring Brook Lake. On property there is a sports bar, full restaurant, fitness center and golf course. You are only five minutes from downtown Dells and all it has to offer. This home does have the capability of being year-round. * * Short term rentals not permitted * *

Key facts

• Covered porch
• Convenient shed
• Fire pit

Tags

• COVERED PORCH
• FIRE PIT
• CONVENIENT SHED
• LOFT FOR EXTRA SLEEPING
• CITY SEWER
• NATURAL GAS

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $100k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $80 ($966/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $91k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.3% vs local median 2.1% in Lake Delton — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 77/100 on livability (#120 in WI, #3,121 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety D, commute F.
• Wisconsin Dells School District (town): math 44% / reading 40% proficiency, ranked #135 of 342 in WI (top 40%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 195 active listings in the ZIP; 527 units permitted in Sauk County in 2024 (268 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $688 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 116 days — a 9% lower offer ($91k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Recommended offer $90,545 (9.0% below list)

Questions for the listing agent

1. It's been on market 116 days. Have you received any prior offers? Is the seller open to a 9% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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.
8. 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.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.05% ✓
• Cap rate: 7.26%
• Cash-on-cash: 3.47%
• DSCR: 1.15
• GRM: 7.9

CMA / ARV

• ARV (median comp): $106,225
• List price: $99,500
• Delta: -6.33%
• Verdict: FAIR
• Comps: 9 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -10.8%
• Equity multiple: 0.61×
• Total profit: $-10,947
• Equity at exit: $14,836

10-year hold

• IRR: -1.4%
• Equity multiple: 0.90×
• Total profit: $-2,722
• Equity at exit: $8,603

Cash invested: $27,860 (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 53965

• Active inventory: 195
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,047 medium
• Mortgage (P&I): −$522
• Tax est. 1.5%: −$124 /mo · $1,492/yr
• Insurance: −$41
• HOA: −$59
• Vacancy / Maint / Mgmt: −$220
• Net cashflow: $80

Break-even live

Break-even rent $945

Max offer price $99,500

Occupancy floor 87%

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: $24,875
• Closing costs: $2,985
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $59 · $708/yr
• Likely covers: watersewergaselectricpoolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 22 events

1. 2026-06-19
   days on market $99,500 Active 116 DOM
2. 2026-06-18
   days on market $99,500 Active 115 DOM
3. 2026-06-17
   days on market $99,500 Active 114 DOM
4. 2026-06-16
   days on market $99,500 Active 113 DOM
5. 2026-06-15
   days on market $99,500 Active 112 DOM
6. 2026-06-14
   days on market $99,500 Active 110 DOM
7. 2026-06-12
   days on market $99,500 Active 109 DOM
8. 2026-06-09
   days on market $99,500 Active 106 DOM
9. 2026-06-08
   days on market $99,500 Active 105 DOM
10. 2026-06-07
    days on market $99,500 Active 104 DOM
11. 2026-06-05
    days on market $99,500 Active 101 DOM
12. 2026-06-03
    days on market $99,500 Active 100 DOM
13. 2026-06-02
    days on market $99,500 Active 99 DOM
14. 2026-06-01
    days on market $99,500 Active 98 DOM
15. 2026-05-31
    days on market $99,500 Active 97 DOM
16. 2026-05-30
    days on market $99,500 Active 96 DOM
17. 2026-05-01
    status Active 638-char remark

    Show marketing remark (638 chars)

    This property has a nice lot with a covered porch, fire pit and a convenient shed. The park model has a loft for extra sleeping or storage and is in very good condition. You own the land and have city sewer/water, natural gas and 100 amp electric. This property is available for year-a-round use. This property is walking distance to a playground, pool, hot tub and Spring Brook Lake. On property there is a sports bar, full restaurant, fitness center and golf course. You are only five minutes from downtown Dells and all it has to offer. This home does have the capability of being year-round. * * Short term rentals not permitted * *

18. 2026-04-19
    historical Offer Show 638-char remark

    Show marketing remark (638 chars)

    This property has a nice lot with a covered porch, fire pit and a convenient shed. The park model has a loft for extra sleeping or storage and is in very good condition. You own the land and have city sewer/water, natural gas and 100 amp electric. This property is available for year-a-round use. This property is walking distance to a playground, pool, hot tub and Spring Brook Lake. On property there is a sports bar, full restaurant, fitness center and golf course. You are only five minutes from downtown Dells and all it has to offer. This home does have the capability of being year-round. * * Short term rentals not permitted * *

19. 2026-02-21
    listed $99,500 Active 638-char remark

    Show marketing remark (638 chars)

    This property has a nice lot with a covered porch, fire pit and a convenient shed. The park model has a loft for extra sleeping or storage and is in very good condition. You own the land and have city sewer/water, natural gas and 100 amp electric. This property is available for year-a-round use. This property is walking distance to a playground, pool, hot tub and Spring Brook Lake. On property there is a sports bar, full restaurant, fitness center and golf course. You are only five minutes from downtown Dells and all it has to offer. This home does have the capability of being year-round. * * Short term rentals not permitted * *

20. 2026-01-01
    historical 638-char remark

    Show marketing remark (638 chars)

    This property has a nice lot with a covered porch, fire pit and a convenient shed. The park model has a loft for extra sleeping or storage and is in very good condition. You own the land and have city sewer/water, natural gas and 100 amp electric. This property is available for year-a-round use. This property is walking distance to a playground, pool, hot tub and Spring Brook Lake. On property there is a sports bar, full restaurant, fitness center and golf course. You are only five minutes from downtown Dells and all it has to offer. This home does have the capability of being year-round. * * Short term rentals not permitted * *

21. 2025-11-05
    price $99,500 638-char remark

    Show marketing remark (638 chars)

    This property has a nice lot with a covered porch, fire pit and a convenient shed. The park model has a loft for extra sleeping or storage and is in very good condition. You own the land and have city sewer/water, natural gas and 100 amp electric. This property is available for year-a-round use. This property is walking distance to a playground, pool, hot tub and Spring Brook Lake. On property there is a sports bar, full restaurant, fitness center and golf course. You are only five minutes from downtown Dells and all it has to offer. This home does have the capability of being year-round. * * Short term rentals not permitted * *

22. 2025-08-25
    listed $106,000 Active 638-char remark

    Show marketing remark (638 chars)

    This property has a nice lot with a covered porch, fire pit and a convenient shed. The park model has a loft for extra sleeping or storage and is in very good condition. You own the land and have city sewer/water, natural gas and 100 amp electric. This property is available for year-a-round use. This property is walking distance to a playground, pool, hot tub and Spring Brook Lake. On property there is a sports bar, full restaurant, fitness center and golf course. You are only five minutes from downtown Dells and all it has to offer. This home does have the capability of being year-round. * * Short term rentals not permitted * *

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥99°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,563
• − Mortgage interest: −$5,574
• − Property taxes: −$1,492
• − Insurance: −$498
• − Repairs & maintenance: −$1,005
• − Management: −$1,005
• − HOA: −$708
• − Depreciation: −$2,895
• Taxable loss: −$613
• Est. tax savings @ 24.0%: +$147
• After-tax cash flow: $1,113/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 · 14 photos

Fair 45/100 Moderate rehab

This park model home is in fair condition with significant repairs and maintenance needed, including roof replacement, exterior siding repair, flooring replacement, painting, and HVAC and mechanical systems repair. The home has a nice lot with a covered porch, fire pit, and a convenient shed, but the overall condition is not up to par with a move-in-ready property.

Repairs flagged

• Major roof — The roof appears to be in poor condition, with visible wear and tear.
• Major exterior siding — The exterior siding appears to be in poor condition, with visible wear and tear.
• Major flooring — The flooring appears to be in poor condition, with visible wear and tear.
• Major interior walls/paint — The interior walls and paint appear to be in poor condition, with visible wear and tear.
• Major HVAC and mechanical systems — The HVAC and mechanical systems appear to be in poor condition, with visible wear and tear.

Value-add opportunities

• Resale roof replacement — A new roof will significantly improve the home's curb appeal and overall condition, making it more attractive to potential buyers.
• Resale exterior siding repair — Repairing the exterior siding will improve the home's curb appeal and overall condition, making it more attractive to potential buyers.
• Resale flooring replacement — Replacing the flooring will improve the home's overall condition and make it more attractive to potential buyers.
• Resale painting — Painting the interior walls and exterior will improve the home's overall condition and make it more attractive to potential buyers.
• Resale HVAC and mechanical systems repair — Repairing the HVAC and mechanical systems will improve the home's overall condition and make it more attractive to potential buyers.

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · The roof appears to be in poor condition, with visible wear and tear.	Major	$15,000–50,000
exterior siding · The exterior siding appears to be in poor condition, with visible wear and tear.	Major	$15,000–50,000
flooring · The flooring appears to be in poor condition, with visible wear and tear.	Major	$15,000–50,000
interior walls/paint · The interior walls and paint appear to be in poor condition, with visible wear and tear.	Major	$15,000–50,000
HVAC and mechanical systems · The HVAC and mechanical systems appear to be in poor condition, with visible wear and tear.	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Resale roof replacement — A new roof will significantly improve the home's curb appeal and overall condition, making it more attractive to potential buyers. ↑
• Resale exterior siding repair — Repairing the exterior siding will improve the home's curb appeal and overall condition, making it more attractive to potential buyers. ↑
• Resale flooring replacement — Replacing the flooring will improve the home's overall condition and make it more attractive to potential buyers. ↑
• Resale painting — Painting the interior walls and exterior will improve the home's overall condition and make it more attractive to potential buyers. ↑
• Resale HVAC and mechanical systems repair — Repairing the HVAC and mechanical systems will improve the home's overall condition and make it more attractive to potential buyers. ↑

ⓘ 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: Wisconsin Dells School District
• NCES district ID: 5517040
• Math proficiency: 44% ▼ -1.00%
• Reading proficiency: 40% ▲ 1.00%
• Median HH income: $47,233
• Composite: 35.91/100
• National rank: #4810
• State rank: #135 of 342 in WI

Livability — Lake Delton

• Score: 77/100
• State rank: #120
• US rank: #3121

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lake Delton, WI
• County: Adams County · 10,818 people
• Metro: Madison, WI
• Population (ZIP): 10,818
• Household income: $66,667
• Rent vs Own: 26.1% rent · 73.9% own
• Severe rent burden: 220.0

Population outlook (Sauk County) Hauer SSP2

• Today (2025): 66,065 people
• By 2030: 66,755 · +1.0%
• By 2040: 66,999 · +1.4%
• By 2050: 65,499 · -0.9%
• By 2075: 60,000 · -9.2%
• By 2100: 51,070 · -22.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Hispanic / Latino 9% Two or more races 5% Black 3% Native American 2%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Portuguese 10% Romanian 5% Lithuanian 2%
• Foreign-born: 7% · Canada, Jamaica
• Languages at home: 90% English-only · Spanish 6% Russian/Polish/Slavic 2%

Political lean MEDSL · Sauk

• 2024 margin: Toss-up / Even · D 48.4% · R 50.0% · Other 1.6%
• 2008→2024 swing: -23.2pp toward R · 2008: 21.6pp · 2024: -1.7pp
• All cycles: 2024: R+1.7 2020: D+1.7 2016: R+0.3 2012: D+18.5 2008: D+21.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -148.85%
• Current HPI: 234.2781
• Rent YoY: —
• Metro: Madison, WI
• 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

-6.1% since first listed

6 events — show timeline

• 2026-05-01 Relisted — SCWMLS
• 2026-04-19 Contingent — SCWMLS
• 2026-02-21 Listed $99,500 SCWMLS
• 2026-01-01 Listing Removed — SCWMLS
• 2025-11-05 Price Changed $99,500 SCWMLS
• 2025-08-25 Listed $106,000 SCWMLS