824 Waterslide Ct · Warrens, WI 54666

$149,900

3 bd · 2.0 ba · 1,260 sqft · SingleFamily · 262 Days on market

Built 2006 5,662 sqft lot $119/sqft · 22% below area Est $191k · 22% under

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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).

• ARV discount +15.0/15.0
• Cash flow +14.6/30.0
• 1% rule +5.2/10.0
• DSCR +4.4/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +1.3/10.0

Listing remarks MLS

Perched on a hillside, this 3-bedroom, 2-bath cabin offers the perfect blend of rustic charm and modern updates. Inside, you'll find cozy living spaces with the warmth of cabin-style character, complemented by updated windows and a newer furnace for comfort and efficiency. The full basement provides extra space and storage options. Step outside to a spacious deck --ideal for morning coffee, entertaining, or simply taking in the views. The backyard features a fire pit for evenings under the stars. Conveniently located near the Warrens Three Bears Lodge resort and campground, this property makes a wonderful getaway retreat, year-round home, or investment opportunity.

Key facts

• Newer furnace
• Updated windows
• Spacious deck

Tags

• SPACIOUS DECK
• FIRE PIT
• FULL BASEMENT
• UPDATED WINDOWS
• NEWER FURNACE
• HILLSIDE LOCATION

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $35 ($415/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $132k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 66/100 on livability (#465 in WI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B+; Watch: health & safety D, schools F, amenities F.
• Tomah Area School District (town): math 27% / reading 28% proficiency, ranked #293 of 342 in WI (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 34 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 93 units permitted in Monroe County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Monroe County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 262 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 13y ago 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.
• Current owner paid $81k; list at $150k implies a 85% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price.

Recommended offer $131,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 262 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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.
7. 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.
8. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.02% ✓
• Cap rate: 6.57%
• Cash-on-cash: 0.99%
• DSCR: 1.04
• GRM: 8.1

CMA / ARV

• ARV (median comp): $191,493
• List price: $149,900
• Delta: -21.72%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
630 Sandy Beach Ct	0.10mi	3/2.0	1,264 (+0%)	1mo	$195,000	$154	94
714 Skatepark Ct	0.07mi	3/2.0	1,300 (+3%)	3mo	$189,000	$145	89
624 Sandy Beach Ct	0.09mi	3/2.0	1,192 (-5%)	0mo	$170,000	$143	86
625 Sandy Beach Ct	0.13mi	3/2.0	1,200 (-5%)	2mo	$189,000	$158	84
612 Sandy Beach Ct	0.12mi	3/2.0	1,300 (+3%)	6mo	$175,000	$135	84
619 Sandy Beach Ct	0.07mi	3/2.0	1,200 (-5%)	7mo	$145,000	$121	83
716 Skatepark Ct	0.06mi	3/2.0	1,200 (-5%)	8mo	$169,000	$141	82
623 Sandy Beach Ct	0.13mi	3/2.0	1,192 (-5%)	6mo	$179,000	$150	80
479 Overlook Ct	0.20mi	3/2.0	1,324 (+5%)	8mo	$207,000	$156	76
212 Harvest Ct	0.37mi	2/2.5 (-1)	1,248 (-1%)	10mo	$245,000	$196	66
244 Blossom Dr	0.32mi	3/2.0	1,400 (+11%)	12mo	$311,100	$222	57
346 Hilltop Cir	0.27mi	2/2.5 (-1)	1,400 (+11%)	14mo	$239,000	$171	50

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -14.6%
• Equity multiple: 0.48×
• Total profit: $-21,980
• Equity at exit: $22,351

10-year hold

• IRR: -5.8%
• Equity multiple: 0.62×
• Total profit: $-15,861
• Equity at exit: $12,961

Cash invested: $41,972 (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 54666

• Home prices YoY: -4.0%
• Active inventory: 34
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,533 high
• Mortgage (P&I): −$786
• Tax from tax record: −$328 /mo · $3,937/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$322
• Net cashflow: $35

Break-even live

Break-even rent $1,489

Max offer price $149,900

Occupancy floor 93%

Sensitivity live

Price	-10% $119	-5% $77	+0% $35	+5% $-8	+10% $-50
Rent	-10% $-87	-5% $-26	+0% $35	+5% $95	+10% $156
Rate	-1.0pp $110	-0.5pp $73	base $35	+0.5pp $-4	+1.0pp $-44

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
723 Skatepark Ct Warrens, WI	3.0	2.0	1200	$1,950	$1.62	15d	1	0.10mi
721 Skatepark Ct Warrens, WI	3.0	2.0	1200	$1,950	$1.62	24d	1	0.10mi
459A Overlook Ct Warrens, WI	3.0	2.0	1000	$1,150	$1.15	6d	1	0.19mi
459 Overlook Ct Unit A Warrens, WI	3.0	2.0	1200	$1,150	$0.96	13d	1	0.19mi
467 Overlook Ct Unit B Warrens, WI	2.0	1.0	920	$950	$1.03	13d	1	0.20mi
467 Overlook Ct Unit A Warrens, WI	3.0	2.0	1380	$1,350	$0.98	45d	1	0.20mi
424 Overlook Ct Warrens, WI	2.0	2.0	900	$1,300	$1.44	6d	1	0.28mi
424 Overlook Ct Unit 424 Warrens, WI	2.0	2.0	900	$1,300	$1.44	13d	1	0.28mi

Listing history 17 events

1. 2026-06-15
   status $149,900 Pending 262 DOM
2. 2026-06-15
   days on market $149,900 Contingent 262 DOM
3. 2026-06-14
   days on market $149,900 Contingent 260 DOM
4. 2026-06-10
   days on market $149,900 Contingent 257 DOM
5. 2026-06-09
   days on market $149,900 Contingent 256 DOM
6. 2026-06-08
   days on market $149,900 Contingent 255 DOM
7. 2026-06-07
   days on market $149,900 Contingent 254 DOM
8. 2026-06-05
   days on market $149,900 Contingent 251 DOM
9. 2026-06-03
   days on market $149,900 Contingent 250 DOM
10. 2026-06-02
    days on market $149,900 Contingent 249 DOM
11. 2026-06-01
    days on market $149,900 Contingent 248 DOM
12. 2026-05-31
    days on market $149,900 Contingent 247 DOM
13. 2026-05-31
    days on market $149,900 Contingent 246 DOM
14. 2025-09-25
    listed $149,900 Active 673-char remark

    Show marketing remark (673 chars)

    Perched on a hillside, this 3-bedroom, 2-bath cabin offers the perfect blend of rustic charm and modern updates. Inside, you'll find cozy living spaces with the warmth of cabin-style character, complemented by updated windows and a newer furnace for comfort and efficiency. The full basement provides extra space and storage options. Step outside to a spacious deck --ideal for morning coffee, entertaining, or simply taking in the views. The backyard features a fire pit for evenings under the stars. Conveniently located near the Warrens Three Bears Lodge resort and campground, this property makes a wonderful getaway retreat, year-round home, or investment opportunity.

15. 2013-01-26
    listed $79,900 392-char remark

    Show marketing remark (392 chars)

    THESE VILLAS ARE FLYING OFF THE SHELF! YOU'LL KICK YOUSELF IF YOU DON'T BUY THIS ONE. GREAT VIEW. 15 DAY FIRST LOOK FOR OWNER OCCUPIED PRIMARY RESIDENCE BUYER, CHECK THE TIMER AT WWW. HOMEPATH. COM FOR ALL BUYERS ON DAY 16. YOU CAN PURCHASE FOR AS LITTLE AS 3% DOWN. ELIGIBLE FOR HOMEPATH MORTGAGE AND RENOVATION MORTGAGE. 3.5% OWNER OCC PRIMARY CLOSING COST INCENTIVE IF CLOSED BY JUNE 30TH.

16. 2013-01-26
    historical 392-char remark

    Show marketing remark (392 chars)

    THESE VILLAS ARE FLYING OFF THE SHELF! YOU'LL KICK YOUSELF IF YOU DON'T BUY THIS ONE. GREAT VIEW. 15 DAY FIRST LOOK FOR OWNER OCCUPIED PRIMARY RESIDENCE BUYER, CHECK THE TIMER AT WWW. HOMEPATH. COM FOR ALL BUYERS ON DAY 16. YOU CAN PURCHASE FOR AS LITTLE AS 3% DOWN. ELIGIBLE FOR HOMEPATH MORTGAGE AND RENOVATION MORTGAGE. 3.5% OWNER OCC PRIMARY CLOSING COST INCENTIVE IF CLOSED BY JUNE 30TH.

17. 2010-08-02
    soldstatus $81,125 392-char remark

    Show marketing remark (392 chars)

    THESE VILLAS ARE FLYING OFF THE SHELF! YOU'LL KICK YOUSELF IF YOU DON'T BUY THIS ONE. GREAT VIEW. 15 DAY FIRST LOOK FOR OWNER OCCUPIED PRIMARY RESIDENCE BUYER, CHECK THE TIMER AT WWW. HOMEPATH. COM FOR ALL BUYERS ON DAY 16. YOU CAN PURCHASE FOR AS LITTLE AS 3% DOWN. ELIGIBLE FOR HOMEPATH MORTGAGE AND RENOVATION MORTGAGE. 3.5% OWNER OCC PRIMARY CLOSING COST INCENTIVE IF CLOSED BY JUNE 30TH.

ⓘ 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: $3,937 · $328/mo
• Projected year-2 tax: $3,937 · $328/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥97°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,397
• − Mortgage interest: −$8,397
• − Property taxes: −$3,937
• − Insurance: −$750
• − Repairs & maintenance: −$1,472
• − Management: −$1,472
• − Depreciation: −$4,361
• Taxable loss: −$1,990
• Est. tax savings @ 24.0%: +$478
• After-tax cash flow: $892/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: Tomah Area School District
• NCES district ID: 5514910
• Math proficiency: 27% ▼ -4.00%
• Reading proficiency: 28% ▼ -5.00%
• Median HH income: $50,063
• Composite: 24.14/100
• National rank: #7747
• State rank: #293 of 342 in WI

Livability — Warrens

• Score: 66/100
• State rank: #465
• US rank: #11843

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Warrens, WI
• Population (ZIP): 2,623

Population outlook (Monroe County) Hauer SSP2

• Today (2025): 45,682 people
• By 2030: 45,187 · -1.1%
• By 2040: 43,768 · -4.2%
• By 2050: 41,596 · -8.9%
• By 2075: 35,555 · -22.2%
• By 2100: 28,278 · -38.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Two or more races 6% Hispanic / Latino 4% Native American 2% Black 1%
• Common ancestry: Portuguese 8% Romanian 5% Lithuanian 2%
• Foreign-born: 1%
• Languages at home: 97% English-only · Spanish 2% German/W. Germanic 1%

Political lean MEDSL · Monroe

• 2024 margin: Strong R (+26.1) · D 36.3% · R 62.5% · Other 1.2%
• 2008→2024 swing: -34.1pp toward R · 2008: 8.0pp · 2024: -26.1pp
• All cycles: 2024: R+26.1 2020: R+23.6 2016: R+22.5 2012: R+0.7 2008: D+8.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -7.47%
• Current HPI: 177.84
• Rent YoY: —
• Metro: —
• 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

+84.8% since first listed

4 events — show timeline

• 2025-09-25 Listed $149,900 METROMLS
• 2013-01-26 Listing Removed — METROMLS
• 2013-01-26 Listed $79,900 METROMLS
• 2010-08-02 Sold (MLS) $81,125 METROMLS

Property tax history

+1.9%/yr

Latest (2025): $3,937 · +45.6% YoY. Source: county tax records.