100 Hill St

Niagara, WI 54151

$93,000B-

4 bd · 2.0 ba · 3,600 sqft · Built 1950 · Other · Active · 208 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,468/mo
• Mortgage (P&I): −$488
• Tax + insurance: −$151
• HOA: −$0
• Vac / Maint / Mgmt: −$308
• Net cashflow: $521/mo
• Annual: $6,250/yr
• Cap rate: 13.01%
• Cash-on-cash: 24.00%
• DSCR: 2.07
• 1% rule: 1.58%
• Cash to close: $26,040

Investor read

• This is a 4-bed/2.0-bath other listed at $93k.
• At list price, monthly cash flow is $521 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $93k).
• It's been on market 208 days — a 12% lower offer ($82k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $82k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $643 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 69/100 on livability (#314 in WI) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools C-, employment D+, amenities F.
• Niagara School District (town): math 31% / reading 29% proficiency, ranked #280 of 342 in WI (top 82%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 9 active listings in the ZIP; 145 units permitted in Marinette County in 2024 (0 in 5+ unit buildings).
• Marinette County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts; this cycle's ask has dropped $6k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $30k; list at $93k implies a 210% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $26k cash investment doubles in ~6 years — after that, you're playing with house money.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 208 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.