812 Pine St

Antigo, WI 54409

$84,900B-

5 bd · 2.0 ba · 1,920 sqft · Built — · Other · Pending · 65 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,137/mo
• Mortgage (P&I): −$445
• Tax + insurance: −$116
• HOA: −$0
• Vac / Maint / Mgmt: −$239
• Net cashflow: $337/mo
• Annual: $4,048/yr
• Cap rate: 11.06%
• Cash-on-cash: 17.03%
• DSCR: 1.76
• 1% rule: 1.34%
• Cash to close: $23,772

Investor read

• This is a 5-bed/2.0-bath other listed at $85k.
• At list price, monthly cash flow is $337 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• It's been on market 65 days — a 6% lower offer ($80k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $80k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $587 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 73/100 on livability (#207 in WI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing B+; Watch: schools D, amenities D, commute F.
• Antigo Unified School District (rural): math 21% / reading 25% proficiency, ranked #324 of 342 in WI (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 53 active listings in the ZIP; 186 units permitted in Langlade County in 2024 (0 in 5+ unit buildings).
• Langlade County population projected at -34% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $23k; list at $85k implies a 268% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~8 years — after that, you're playing with house money.
• Cap rate 11.1% vs local median 2.5% in Antigo — 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

• It's been on market 65 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• 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.
• 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?
• 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.