113 Wood Haven Dr #35 · Lake Delton, WI 53965

$118,900

2 bd · 1.0 ba · 700 sqft · Condo · 35 Days on market

Built 1990 $170/sqft · 17% below area Est $143k · 17% under $59/mo HOA · 5% of rent

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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 +23.9/30.0
• ARV discount +15.0/15.0
• DSCR +7.7/10.0
• 1% rule +5.7/10.0
• Livability +3.9/5.0
• Schools +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Affordable getaway in the sought-after Spring Brook Resort community! This 2-bedroom, 1-bath vacation home offers a comfortable layout with the spacious family room addition that is filled with natural light that is perfect for gathering and relaxing. The kitchen and dining area provide plenty of space for everyday use or hosting guests. A dedicated laundry room includes a stackable washer & dryer, and a chest freezer is also included for added convenience. Outside, enjoy the private deck, storage shed and fire pit area, ideal for relaxing after a day enjoying everything Wisconsin Dells has to offer. Located in Spring Brook Resort you can enjoy many amenities on site including fishing

Key facts

• Private deck
• Storage shed
• Fire pit area

Tags

• SPACIOUS FAMILY ROOM ADDITION
• DEDICATED LAUNDRY ROOM
• PRIVATE DECK
• STORAGE SHED
• FIRE PIT AREA
• INDOOR AND OUTDOOR POOLS

Property features AI

Finance

• HOA & community: Monthly condo fee of $59; Association amenities include clubhouse, common green space, exercise room, golf/putting green, whirlpool, playground, indoor pool, outdoor pool, and walking trail; 91 units in the association

Exterior

• Parking: Outdoor parking
• Utilities: Municipal water; Municipal sewer
• Home design: Single family / detached condominium; One story; Condo zoning; Condominium: Spring Brook Glen
• Construction: No finished below-grade space; Approximately 700 finished above-grade square feet
• Exterior features: Private entry; Deck; Vinyl exterior; Spring Brook on the property

Interior

• Kitchen: Kitchen on main level (7 x 11); Breakfast bar; Range/Oven; Refrigerator
• Bedrooms: Main-level primary bedroom (9 x 9); Main-level second bedroom (6 x 6)
• Flooring: Wood or simulated wood floors
• Bathrooms: One full bathroom; No master bathroom
• Heating & cooling: Forced air heating; Central air; Natural gas heat
• Interior features: Wood or simulated wood floors; No basement (slab)
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $119k.

Deal economics

• At list price, monthly cash flow is $230 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $119k).
• Recommended offer: $115k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.6% 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.
• Zoned schools: Spring Hill Elementary (math 52% / reading 37%, grade F, #372 of 1,041 statewide, top 40%, 608 students, 57% FRL); Wisconsin Dells High (math 17% / reading 27%, grade F, #349 of 483 statewide, top 75%, 603 students, 48% FRL).
• Market conditions: 195 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $822 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($115k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $61k; list at $119k implies a 95% gain — meaningful room to come down on a strong offer.

Recommended offer $115,333 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.07% ✓
• Cap rate: 8.61%
• Cash-on-cash: 8.28%
• DSCR: 1.37
• GRM: 7.8

CMA / ARV

• ARV (median comp): $143,135
• List price: $118,900
• Delta: -16.93%
• Verdict: UNDERPRICED
• Comps: 11 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -3.7%
• Equity multiple: 0.86×
• Total profit: $-4,647
• Equity at exit: $17,728

10-year hold

• IRR: 6.0%
• Equity multiple: 1.44×
• Total profit: $14,756
• Equity at exit: $10,280

Cash invested: $33,292 (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: 7.8×

Monthly cashflow live

• Estimated rent: $1,274 medium
• Mortgage (P&I): −$624
• Tax from tax record: −$45 /mo · $535/yr
• Insurance: −$50
• HOA: −$59
• Vacancy / Maint / Mgmt: −$268
• Net cashflow: $230

Break-even live

Break-even rent $983

Max offer price $118,900

Occupancy floor 77%

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: $29,725
• Closing costs: $3,567
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
231 N Burritt Ave Wisconsin Dells, WI	1.0	1.0	744	$1,200	$1.61	43d	1	0.95mi

HOA detail condo

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

Listing history 19 events

1. 2026-06-19
   days on market $118,900 Active 35 DOM
2. 2026-06-18
   days on market $118,900 Active 34 DOM
3. 2026-06-17
   days on market $118,900 Active 33 DOM
4. 2026-06-16
   days on market $118,900 Active 32 DOM
5. 2026-06-15
   days on market $118,900 Active 31 DOM
6. 2026-06-14
   days on market $118,900 Active 29 DOM
7. 2026-06-12
   pricedays on market $118,900 Active 28 DOM
8. 2026-06-09
   days on market $119,900 Active 25 DOM
9. 2026-06-08
   days on market $119,900 Active 24 DOM
10. 2026-06-07
    days on market $119,900 Active 23 DOM
11. 2026-06-05
    days on market $119,900 Active 20 DOM
12. 2026-06-03
    days on market $119,900 Active 19 DOM
13. 2026-06-02
    days on market $119,900 Active 18 DOM
14. 2026-06-01
    days on market $119,900 Active 17 DOM
15. 2026-05-31
    days on market $119,900 Active 16 DOM
16. 2026-05-30
    days on market $119,900 Active 15 DOM
17. 2026-05-12
    listed $119,900 Active 924-char remark
18. 2019-05-01
    soldstatus $61,000
19. 2001-09-12
    soldstatus $70,000

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

Tax reassessment forecast WI · Partial reset (capped growth)

• Current annual tax: $535 · $45/mo
• Projected year-2 tax: $1,368 · $114/mo
• Expected delta: +$832/yr (+$69/mo · 155.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

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: $15,287
• − Mortgage interest: −$6,660
• − Property taxes: −$535
• − Insurance: −$594
• − Repairs & maintenance: −$1,223
• − Management: −$1,223
• − HOA: −$708
• − Depreciation: −$3,459
• Taxable income: $884
• Est. tax owed @ 24.0%: −$212
• After-tax cash flow: $2,544/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.

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

+69.9% since first listed

4 events — show timeline

• 2026-06-11 Price Changed $118,900 SCWMLS
• 2026-05-12 Listed $119,900 SCWMLS
• 2019-05-01 Sold (Public Records) $61,000 Public Records
• 2001-09-12 Sold (Public Records) $70,000 Public Records

Property tax history

-6.1%/yr

Latest (2025): $535 · -4.5% YoY. Source: county tax records.