6407 S Tuff Rd · Superior, WI 54880

$135,000

28 bd · 16.0 ba · — sqft · MultiFamily · 307 Days on market

Built 1923 0.60 ac lot ↓ 16% since listing

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Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +4.3/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks MLS

Close country 4-plex near Pattison State Park on a corner lot. Great income potential for the right investor. - This property is eligible under the First Look Initiative. All Owner Occupant offers will be responded to after 7 days on the market and Investor offers will be responded to after 30 days. However, all offers can be submitted during the First Look period.

Key facts

• Income potential
• Pattison state park
• Corner lot

Tags

• CORNER LOT
• INCOME POTENTIAL
• PATTISON STATE PARK

What this means for you Summary

Snapshot

• This is a 4 × 7-bed/4.0-bath units multifamily listed at $135k.

Deal economics

• At list price, monthly cash flow is $7k ($81k/yr) — positive. Per door: $2k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($10k rent vs $135k).
• Recommended offer: $119k (12.0% below list) — sets the bar for market timing.
• Cap rate 66.0% vs local median 4.6% in Superior — 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 86/100 on livability (#21 in WI, #337 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: schools C-.
• Superior School District (suburban): math 23% / reading 34% proficiency, ranked #290 of 342 in WI (top 85%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising (+2.8%/yr); 168 active listings in the ZIP; 110 units permitted in Douglas County in 2024 (0 in 5+ unit buildings).
• At $9,685/mo this rent would consume 170% of the median local household income ($68k/yr) (locally 1018% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Douglas County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 2.8% rent growth), your $38k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 307 days — a 12% lower offer ($119k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $25k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1923 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $118,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 307 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1923 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 7.17% ✓
• Cap rate: 66.01%
• Cash-on-cash: 213.28%
• DSCR: 10.49
• GRM: 1.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.76% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 11.68×
• Total profit: $403,823
• Equity at exit: $20,129

10-year hold

• IRR: —
• Equity multiple: 24.64×
• Total profit: $893,678
• Equity at exit: $11,672

Cash invested: $37,800 (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 54880

• Rents YoY: 2.8%
• Active inventory: 168
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $9,685 medium
• Mortgage (P&I): −$708
• Tax est. 1.5%: −$169 /mo · $2,025/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,034
• Net cashflow: $6,718

Break-even live

Break-even rent $1,181

Max offer price $135,000

Occupancy floor 26%

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	7	4	$9,684
Total (4 units)			$9,685

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-18
   days on market $135,000 Active 307 DOM
2. 2026-06-17
   days on market $135,000 Active 306 DOM
3. 2026-06-16
   days on market $135,000 Active 305 DOM
4. 2026-06-15
   days on market $135,000 Active 304 DOM
5. 2026-06-14
   days on market $135,000 Active 302 DOM
6. 2026-06-13
   days on market $135,000 Active 301 DOM
7. 2026-06-10
   days on market $135,000 Active 299 DOM
8. 2026-06-09
   days on market $135,000 Active 298 DOM
9. 2026-06-08
   days on market $135,000 Active 297 DOM
10. 2026-06-07
    days on market $135,000 Active 296 DOM
11. 2026-06-02
    days on market $135,000 Active 291 DOM
12. 2026-06-01
    days on market $135,000 Active 290 DOM
13. 2026-05-31
    days on market $135,000 Active 289 DOM
14. 2026-05-30
    days on market $135,000 Active 288 DOM
15. 2026-03-31
    price $135,000 367-char remark

    Show marketing remark (367 chars)

    Close country 4-plex near Pattison State Park on a corner lot. Great income potential for the right investor. - This property is eligible under the First Look Initiative. All Owner Occupant offers will be responded to after 7 days on the market and Investor offers will be responded to after 30 days. However, all offers can be submitted during the First Look period.

16. 2026-03-03
    price $135,000 367-char remark

    Show marketing remark (367 chars)

    Close country 4-plex near Pattison State Park on a corner lot. Great income potential for the right investor. - This property is eligible under the First Look Initiative. All Owner Occupant offers will be responded to after 7 days on the market and Investor offers will be responded to after 30 days. However, all offers can be submitted during the First Look period.

17. 2025-11-18
    price $150,000 367-char remark

    Show marketing remark (367 chars)

    Close country 4-plex near Pattison State Park on a corner lot. Great income potential for the right investor. - This property is eligible under the First Look Initiative. All Owner Occupant offers will be responded to after 7 days on the market and Investor offers will be responded to after 30 days. However, all offers can be submitted during the First Look period.

18. 2025-11-18
    price $150,000 367-char remark

    Show marketing remark (367 chars)

    Close country 4-plex near Pattison State Park on a corner lot. Great income potential for the right investor. - This property is eligible under the First Look Initiative. All Owner Occupant offers will be responded to after 7 days on the market and Investor offers will be responded to after 30 days. However, all offers can be submitted during the First Look period.

19. 2025-08-15
    listed $160,000 Active 367-char remark

    Show marketing remark (367 chars)

    Close country 4-plex near Pattison State Park on a corner lot. Great income potential for the right investor. - This property is eligible under the First Look Initiative. All Owner Occupant offers will be responded to after 7 days on the market and Investor offers will be responded to after 30 days. However, all offers can be submitted during the First Look period.

20. 2025-08-15
    listed $160,000 Active 367-char remark

    Show marketing remark (367 chars)

    Close country 4-plex near Pattison State Park on a corner lot. Great income potential for the right investor. - This property is eligible under the First Look Initiative. All Owner Occupant offers will be responded to after 7 days on the market and Investor offers will be responded to after 30 days. However, all offers can be submitted during the First Look period.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $116,220
• − Mortgage interest: −$7,562
• − Property taxes: −$2,025
• − Insurance: −$675
• − Repairs & maintenance: −$9,298
• − Management: −$9,298
• − Depreciation: −$3,927
• Taxable income: $83,435
• Est. tax owed @ 24.0%: −$20,025
• After-tax cash flow: $60,594/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: Superior School District
• NCES district ID: 5514670
• Math proficiency: 23% ▼ -12.00%
• Reading proficiency: 34% ▼ -4.00%
• Median HH income: $43,659
• Composite: 24.31/100
• National rank: #7711
• State rank: #290 of 342 in WI

Livability — Superior

• Score: 86/100
• State rank: #21
• US rank: #337

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Douglas County · 30,312 people
• City population: 30,312
• Metro: Duluth, MN-WI
• Population (ZIP): 30,312
• Household income: $68,275
• Rent vs Own: 36.6% rent · 63.4% own
• Severe rent burden: 1018.0

Population outlook (Douglas County) Hauer SSP2

• Today (2025): 42,505 people
• By 2030: 41,269 · -2.9%
• By 2040: 37,829 · -11.0%
• By 2050: 34,043 · -19.9%
• By 2075: 25,892 · -39.1%
• By 2100: 19,487 · -54.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 5% Hispanic / Latino 2% Black 1% Asian 1% Native American 1%
• Common ancestry: Portuguese 10% Romanian 9% Lithuanian 4%
• Foreign-born: 2% · China, Vietnam
• Languages at home: 97% English-only · Spanish 1%

Political lean MEDSL · Douglas

• 2024 margin: Lean D (+5.3) · D 52.0% · R 46.6% · Other 1.4%
• 2008→2024 swing: -27.9pp toward R · 2008: 33.2pp · 2024: 5.3pp
• All cycles: 2024: D+5.3 2020: D+9.3 2016: D+7.6 2012: D+31.3 2008: D+33.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -167.80%
• Current HPI: 226.557
• Rent YoY: ▲ 2.76%
• Metro: Duluth, MN-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

-15.6% since first listed

6 events — show timeline

• 2026-03-31 Price Changed $135,000 SAAR
• 2026-03-03 Price Changed $135,000 LSAR
• 2025-11-18 Price Changed $150,000 SAAR
• 2025-11-18 Price Changed $150,000 LSAR
• 2025-08-15 Listed $160,000 LSAR
• 2025-08-15 Listed $160,000 SAAR