520 Rockview Ct · Watertown, WI 53094

$1

4 bd · 2.0 ba · 2,665 sqft · SingleFamily · 38 Days on market

Built 1973 Good condition 0.52 ac lot

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Why this score? — see what drove the F 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 +7.5/15.0
• Condition / age +3.8/5.0
• Livability +3.6/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Cash flow +2.2/30.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Selling by online auction, starting bid $150,000.00. Auction terms and conditions apply. Move-in ready 4BR, 2BA 2600 sq ft Bi-level on a a little over a half acre lot of the Rock River in the City of Watertown on a quiet cud de sac. The property has been well maintained and views of the Rock River. This property includes appliances, finished walk-out basement water softener, and window treatments. 2-car attached garage. ONLINE AUCTION Thursday April 21, 2026 - Tuesday May 19, 2026. Terms and Conditions apply. $1 is a PLACEHOLDER, not the actual sale price. Starting bid $150,000.00 w/ 8% buyers fee--high bid plus buyers fee equals total purchase price. Earnest money of $10,000.00 MUST accompany OTP. Seller can accept, reject or counter any offer. Sells As Is, Where Is, No Contingencies/Exceptions. Inspections welcome but seller will not accept inspection contingency. Showings Start April 21, 2026

Key facts

• 0.52 acre lot
• 2 garage spots
• Built 1973

🔨 Auction listing. The $1 list price is a nominal opening bid, not a real ask — every metric below is computed on the estimated value $428,060 (ARV from comps), not the list price.

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $1. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-2k ($-18k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $1).

Location & tenants

• Location reads 72/100 on livability (#224 in WI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities C-, employment D+, commute F.
• Watertown Unified School District (town): math 36% / reading 34% proficiency, ranked #221 of 342 in WI (top 65%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 94 active listings in the ZIP; 145 units permitted in Jefferson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $13k of value loss. Plan a longer hold.
• Jefferson County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($0) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 642090.4% of price.

Recommended offer $1

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 5% concession, seller financing, or rate buy-down credit?
3. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 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: 0.42% ✗
• Cap rate: 1.98%
• Cash-on-cash: -15.39%
• DSCR: 0.32
• GRM: 19.8

CMA / ARV

• ARV (median comp): $428,060
• List price: $1
• Delta: -100.00%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
511 Clovercrest Ct	0.08mi	3/2.5 (-1)	2,901 (+9%)	1mo	$545,000	$188	74
412 Bradley St	0.23mi	3/2.0 (-1)	2,332 (-12%)	7mo	$377,500	$162	58
1404 Richards Ave	0.33mi	4/2.5	2,331 (-12%)	11mo	$415,000	$178	53
1402 Richards Ave	0.34mi	4/3.0	3,026 (+14%)	6mo	$509,900	$169	52
402 Riverwood Ct	0.21mi	4/3.0	3,012 (+13%)	21mo	$660,000	$219	47

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: -46.0%
• Equity multiple: -0.40×
• Total profit: $-167,234
• Equity at exit: $63,825

10-year hold

• IRR: -85.5%
• Equity multiple: -1.27×
• Total profit: $-271,571
• Equity at exit: $37,011

Cash invested: $119,857 (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 53094

• Active inventory: 94

Monthly cashflow live

• Estimated rent: $1,799 medium
• Mortgage (P&I): −$2,245
• Tax est. 1.5%: −$535 /mo · $6,421/yr
• Insurance: −$178
• HOA: −$0
• Vacancy / Maint / Mgmt: −$378
• Net cashflow: $-1,537

Break-even live

Break-even rent $3,745

Max offer price $205,644

Occupancy floor —

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: $107,015
• Closing costs: $12,842
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-04-21
   listed $1 Active 908-char remark

   Show marketing remark (908 chars)

   Selling by online auction, starting bid $150,000.00. Auction terms and conditions apply. Move-in ready 4BR, 2BA 2600 sq ft Bi-level on a a little over a half acre lot of the Rock River in the City of Watertown on a quiet cud de sac. The property has been well maintained and views of the Rock River. This property includes appliances, finished walk-out basement water softener, and window treatments. 2-car attached garage. ONLINE AUCTION Thursday April 21, 2026 - Tuesday May 19, 2026. Terms and Conditions apply. $1 is a PLACEHOLDER, not the actual sale price. Starting bid $150,000.00 w/ 8% buyers fee--high bid plus buyers fee equals total purchase price. Earnest money of $10,000.00 MUST accompany OTP. Seller can accept, reject or counter any offer. Sells As Is, Where Is, No Contingencies/Exceptions. Inspections welcome but seller will not accept inspection contingency. Showings Start April 21, 2026

2. 1987-07-01
   soldstatus $79,500

ⓘ 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 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥102°F today · 13 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,587
• − Mortgage interest: −$23,978
• − Property taxes: −$6,421
• − Insurance: −$2,140
• − Repairs & maintenance: −$1,727
• − Management: −$1,727
• − Depreciation: −$12,453
• Taxable loss: −$26,859
• Est. tax savings @ 24.0%: +$6,446
• After-tax cash flow: $-11,999/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 · 23 photos

Good 75/100 Cosmetic rehab

This move-in ready home is in good condition with a good condition score of 75. It has a few cosmetic updates needed, such as updating the kitchen and painting the interior walls. The home has a good curb appeal and is located on a quiet cul-de-sac with views of the Rock River.

Repairs flagged

• Moderate kitchen cabinets — dated and in need of updating
• Moderate kitchen countertops — dated and in need of updating
• Moderate kitchen appliances — dated and in need of updating

Value-add opportunities

• Resale update kitchen cabinets, countertops, and appliances — modernizing the kitchen will attract more buyers
• Resale paint interior walls — fresh paint will make the interior look more appealing
• Resale replace carpeted stairs and rooms — new flooring will improve the overall look and feel of the home

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and in need of updating	Moderate	$3,000–15,000
kitchen countertops · dated and in need of updating	Moderate	$3,000–15,000
kitchen appliances · dated and in need of updating	Moderate	$3,000–15,000
Total estimated repair cost · 3 items		$9,000–45,000

Value-add ROI direction

• Resale update kitchen cabinets, countertops, and appliances — modernizing the kitchen will attract more buyers ↑
• Resale paint interior walls — fresh paint will make the interior look more appealing ↑
• Resale replace carpeted stairs and rooms — new flooring will improve the overall look and feel of the home ↑

ⓘ 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: Watertown Unified School District
• NCES district ID: 5515750
• Math proficiency: 36% ▼ -4.00%
• Reading proficiency: 34% ▼ -2.00%
• Median HH income: $51,521
• Composite: 30.51/100
• National rank: #6216
• State rank: #221 of 342 in WI

Livability — Watertown

• Score: 72/100
• State rank: #224
• US rank: #5940

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Watertown, WI
• County: Jefferson County · 17,998 people
• City population: 29,351
• Metro: Watertown-Fort Atkinson, WI
• Population (ZIP): 17,998
• Household income: $73,443
• Rent vs Own: 31.6% rent · 68.4% own
• Severe rent burden: 394.0

Population outlook (Jefferson County) Hauer SSP2

• Today (2025): 86,617 people
• By 2030: 86,818 · +0.2%
• By 2040: 85,552 · -1.2%
• By 2050: 81,765 · -5.6%
• By 2075: 68,937 · -20.4%
• By 2100: 55,854 · -35.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Hispanic / Latino 9% Two or more races 7%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 8% Portuguese 5% Lithuanian 3%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 3% German/W. Germanic 1% Other Indo-European 1%

Political lean MEDSL · Jefferson

• 2024 margin: R (+16.4) · D 41.1% · R 57.5% · Other 1.4%
• 2008→2024 swing: -17.2pp toward R · 2008: 0.8pp · 2024: -16.4pp
• All cycles: 2024: R+16.4 2020: R+15.2 2016: R+16.2 2012: R+7.6 2008: D+0.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -139.27%
• Current HPI: 203.7595
• Rent YoY: —
• Metro: Watertown-Fort Atkinson, 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

2 events — show timeline

• 2026-04-21 Listed $1 SCWMLS
• 1987-07-01 Sold (Public Records) $79,500 Public Records

Property tax history

+1.0%/yr

Latest (2025): $4,376 · +0.0% YoY. Source: county tax records.