107 S Andrews St

Shawano, WI 54166

$186,900D

3 bd · 2.0 ba · 1,592 sqft · Built 1870 · Other · Active · 10 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,624/mo
• Mortgage (P&I): −$980
• Tax + insurance: −$219
• HOA: −$0
• Vac / Maint / Mgmt: −$341
• Net cashflow: $83/mo
• Annual: $997/yr
• Cap rate: 6.83%
• Cash-on-cash: 1.91%
• DSCR: 1.08
• 1% rule: 0.87%
• Cash to close: $52,332

Investor read

• This is a 3-bed/2.0-bath other listed at $187k.
• At list price, monthly cash flow is $83 ($997/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 $162k (13.1% below list).
• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $162k (13.1% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 71/100 on livability (#259 in WI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A, crime B+; Watch: employment C-, amenities F, commute F.
• Shawano School District (town): math 26% / reading 28% proficiency, ranked #299 of 342 in WI (top 87%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Shawano High (math 17% / reading 27%, grade F, #349 of 483 statewide, top 75%, 803 students, 42% FRL) — zoned schools at 42% FRL track the district average.
• Watch-outs: built in 1870 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 84 active listings in the ZIP; 77 units permitted in Shawano County in 2024 (0 in 5+ unit buildings).
• Shawano County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $80k; list at $187k implies a 132% gain — meaningful room to come down on a strong offer.
• Cap rate 6.8% vs local median 3.1% in Shawano — 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.

Questions for listing agent

• Built in 1870 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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?
• 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.
• 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.
• 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.