120 Spring Brook Dr · Lake Delton, WI 53965

$120,000

1 bd · 1.0 ba · 688 sqft · Condo · 88 Days on market

Built 1993 $174/sqft · 13% below area Est $138k · 13% 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 +19.0/30.0
• ARV discount +13.4/15.0
• DSCR +6.0/10.0
• 1% rule +4.8/10.0
• 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 MLS

This home is very well maintained and is located in the popular Spring Brook Glen. The exterior features a fire pit, a large partially covered deck, and a shed that is large enough for a golf cart. Inside you will find a very large and inviting family room complete with a pellet stove that will keep you warm in the winter. This home has a gracious kitchen/dining area with plenty of cabinets and a stackable washer/dryer that is rare in these types of properties. Homes such as this do not come available often at this price so schedule your showing soon! Golf and pool memberships are available at reasonable rates. Located in Spring Brook Resort you can enjoy many amenities on site: golf, fishing, a sports bar, restaurant, indoor and outdoor pools, a fitness center, playground and nature trails. Just a couple miles from major attractions of Wisconsin Dells. City utilities and you own the land!!

Key facts

• Fitness center
• Pellet stove
• $59 HOA

Tags

• LARGE PARTIALLY COVERED DECK
• PELLET STOVE
• GRACIOUS KITCHEN DINING AREA
• STACKABLE WASHER DRYER
• INDOOR AND OUTDOOR POOLS
• FITNESS CENTER

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $120k.

Deal economics

• At list price, monthly cash flow is $126 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $118k (1.8% below list).
• Recommended offer: $113k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.5% vs local median 2.6% 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: 197 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 $830 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 88 days — a 6% lower offer ($113k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $65k; list at $120k implies a 85% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $112,800 (6.0% below list)

Questions for the listing agent

1. It's been on market 88 days. Have you received any prior offers? Is the seller open to a 6% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 0.98% ✗
• Cap rate: 7.55%
• Cash-on-cash: 4.48%
• DSCR: 1.20
• GRM: 8.5

CMA / ARV

• ARV (median comp): $138,197
• List price: $120,000
• Delta: -13.17%
• Verdict: UNDERPRICED
• Comps: 8 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -9.3%
• Equity multiple: 0.66×
• Total profit: $-11,449
• Equity at exit: $17,892

10-year hold

• IRR: 0.1%
• Equity multiple: 1.01×
• Total profit: $336
• Equity at exit: $10,375

Cash invested: $33,600 (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: 197
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,178 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$67 /mo · $803/yr
• Insurance: −$50
• HOA: −$59
• Vacancy / Maint / Mgmt: −$247
• Net cashflow: $126

Break-even live

Break-even rent $1,019

Max offer price $120,000

Occupancy floor 84%

Sensitivity live

Price	-10% $193	-5% $159	+0% $126	+5% $92	+10% $58
Rent	-10% $32	-5% $79	+0% $126	+5% $172	+10% $219
Rate	-1.0pp $186	-0.5pp $156	base $126	+0.5pp $94	+1.0pp $63

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: $30,000
• Closing costs: $3,600
• 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	45d	1	0.91mi

HOA detail condo

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

Listing history 20 events

1. 2026-06-21
   days on market $120,000 Active 88 DOM
2. 2026-06-19
   days on market $120,000 Active 86 DOM
3. 2026-06-18
   days on market $120,000 Active 85 DOM
4. 2026-06-17
   days on market $120,000 Active 84 DOM
5. 2026-06-16
   days on market $120,000 Active 83 DOM
6. 2026-06-15
   days on market $120,000 Active 82 DOM
7. 2026-06-14
   days on market $120,000 Active 80 DOM
8. 2026-06-12
   days on market $120,000 Active 79 DOM
9. 2026-06-09
   days on market $120,000 Active 76 DOM
10. 2026-06-08
    days on market $120,000 Active 75 DOM
11. 2026-06-07
    days on market $120,000 Active 74 DOM
12. 2026-06-05
    days on market $120,000 Active 71 DOM
13. 2026-06-03
    days on market $120,000 Active 70 DOM
14. 2026-06-02
    days on market $120,000 Active 69 DOM
15. 2026-06-01
    days on market $120,000 Active 68 DOM
16. 2026-05-31
    days on market $120,000 Active 67 DOM
17. 2026-05-30
    days on market $120,000 Active 66 DOM
18. 2026-05-14
    price $120,000 903-char remark

    Show marketing remark (903 chars)

    This home is very well maintained and is located in the popular Spring Brook Glen. The exterior features a fire pit, a large partially covered deck, and a shed that is large enough for a golf cart. Inside you will find a very large and inviting family room complete with a pellet stove that will keep you warm in the winter. This home has a gracious kitchen/dining area with plenty of cabinets and a stackable washer/dryer that is rare in these types of properties. Homes such as this do not come available often at this price so schedule your showing soon! Golf and pool memberships are available at reasonable rates. Located in Spring Brook Resort you can enjoy many amenities on site: golf, fishing, a sports bar, restaurant, indoor and outdoor pools, a fitness center, playground and nature trails. Just a couple miles from major attractions of Wisconsin Dells. City utilities and you own the land!!

19. 2026-03-25
    listed $124,750 Active 903-char remark

    Show marketing remark (903 chars)

    This home is very well maintained and is located in the popular Spring Brook Glen. The exterior features a fire pit, a large partially covered deck, and a shed that is large enough for a golf cart. Inside you will find a very large and inviting family room complete with a pellet stove that will keep you warm in the winter. This home has a gracious kitchen/dining area with plenty of cabinets and a stackable washer/dryer that is rare in these types of properties. Homes such as this do not come available often at this price so schedule your showing soon! Golf and pool memberships are available at reasonable rates. Located in Spring Brook Resort you can enjoy many amenities on site: golf, fishing, a sports bar, restaurant, indoor and outdoor pools, a fitness center, playground and nature trails. Just a couple miles from major attractions of Wisconsin Dells. City utilities and you own the land!!

20. 2021-06-08
    soldstatus $65,000

ⓘ 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: $803 · $67/mo
• Projected year-2 tax: $1,512 · $126/mo
• Expected delta: +$708/yr (+$59/mo · 88.2%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 74% 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: $14,138
• − Mortgage interest: −$6,722
• − Property taxes: −$803
• − Insurance: −$600
• − Repairs & maintenance: −$1,131
• − Management: −$1,131
• − HOA: −$708
• − Depreciation: −$3,491
• Taxable loss: −$448
• Est. tax savings @ 24.0%: +$108
• After-tax cash flow: $1,614/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

+84.6% since first listed

3 events — show timeline

• 2026-05-14 Price Changed $120,000 SCWMLS
• 2026-03-25 Listed $124,750 SCWMLS
• 2021-06-08 Sold (Public Records) $65,000 Public Records

Property tax history

-2.6%/yr

Latest (2025): $803 · -5.7% YoY. Source: county tax records.