4031 E 2nd St · Superior, WI 54880

$105,000

3 bd · 1.0 ba · 1,232 sqft · Other · 78 Days on market

Built 1906 6,098 sqft lot

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Listing remarks MLS

This 3+ bedroom home is ready for owners with a new vision. Situated on a corner lot, close to public transportation and short drive to nearby shops and restaurants. Spacious main level with formal living/dining area that holds a bonus space that could be used as a home office or kids' playroom. Bedrooms are all located on the second level along with a full bathroom. Large yard for any gardening enthusiasts along with a one stall garage for extra storage.

Key facts

• 6,098 sq ft lot
• Garage
• Built 1906

Property features AI

Exterior

• Parking: 1-car garage
• Home design: Two-plus story single-family home; Finished above-grade area about 1,232 sq ft
• Exterior features: Approximately 0.14-acre lot

Interior

• Kitchen: Kitchen on main level (10 x 14)
• Bedrooms: Upper-level bedroom (9 x 10); Upper-level bedroom (13 x 10); Upper-level bedroom (8 x 10)
• Bathrooms: 1 full bathroom
• Interior features: Main-level living room; Main-level kitchen

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $105k.

Deal economics

• At list price, monthly cash flow is $679 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $105k).
• Recommended offer: $99k (6.0% below list) — sets the bar for market timing.
• Cap rate 14.1% 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).
• This rent runs 30% of the median local income ($68k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $726 of loan paydown is wiped out by about $3k 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 $29k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 78 days — a 6% lower offer ($99k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $22k; list at $105k implies a 377% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1906 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $98,700 (6.0% below list)

Questions for the listing agent

1. It's been on market 78 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1906 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.63% ✓
• Cap rate: 14.05%
• Cash-on-cash: 27.71%
• DSCR: 2.23
• GRM: 5.1

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: 21.5%
• Equity multiple: 1.88×
• Total profit: $25,811
• Equity at exit: $15,656

10-year hold

• IRR: 29.5%
• Equity multiple: 3.60×
• Total profit: $76,447
• Equity at exit: $9,078

Cash invested: $29,400 (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: 5.1×

Monthly cashflow live

• Estimated rent: $1,708 medium
• Mortgage (P&I): −$551
• Tax from tax record: −$76 /mo · $912/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$359
• Net cashflow: $679

Break-even live

Break-even rent $849

Max offer price $105,000

Occupancy floor 55%

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: $26,250
• Closing costs: $3,150
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $105,000 Active 78 DOM
2. 2026-06-17
   days on market $105,000 Active 77 DOM
3. 2026-06-16
   days on market $105,000 Active 76 DOM
4. 2026-06-15
   statusdays on market $105,000 Active 75 DOM
5. 2026-06-14
   days on market $105,000 Contingent 73 DOM
6. 2026-06-13
   days on market $105,000 Contingent 72 DOM
7. 2026-06-10
   days on market $105,000 Contingent 70 DOM
8. 2026-06-09
   days on market $105,000 Contingent 69 DOM
9. 2026-06-08
   days on market $105,000 Contingent 68 DOM
10. 2026-06-07
    days on market $105,000 Contingent 67 DOM
11. 2026-06-02
    days on market $105,000 Contingent 62 DOM
12. 2026-06-01
    days on market $105,000 Contingent 61 DOM
13. 2026-05-31
    days on market $105,000 Contingent 60 DOM
14. 2026-05-30
    days on market $105,000 Contingent 59 DOM
15. 2026-04-27
    historical Contingent 459-char remark

    Show marketing remark (459 chars)

    This 3+ bedroom home is ready for owners with a new vision. Situated on a corner lot, close to public transportation and short drive to nearby shops and restaurants. Spacious main level with formal living/dining area that holds a bonus space that could be used as a home office or kids' playroom. Bedrooms are all located on the second level along with a full bathroom. Large yard for any gardening enthusiasts along with a one stall garage for extra storage.

16. 2026-04-01
    listed $105,000 Active 459-char remark

    Show marketing remark (459 chars)

    This 3+ bedroom home is ready for owners with a new vision. Situated on a corner lot, close to public transportation and short drive to nearby shops and restaurants. Spacious main level with formal living/dining area that holds a bonus space that could be used as a home office or kids' playroom. Bedrooms are all located on the second level along with a full bathroom. Large yard for any gardening enthusiasts along with a one stall garage for extra storage.

17. 2026-04-01
    listed $105,000 Active 459-char remark

    Show marketing remark (459 chars)

    This 3+ bedroom home is ready for owners with a new vision. Situated on a corner lot, close to public transportation and short drive to nearby shops and restaurants. Spacious main level with formal living/dining area that holds a bonus space that could be used as a home office or kids' playroom. Bedrooms are all located on the second level along with a full bathroom. Large yard for any gardening enthusiasts along with a one stall garage for extra storage.

18. 2000-07-11
    soldstatus $22,000

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

Tax reassessment forecast WI · Partial reset (capped growth)

• Current annual tax: $912 · $76/mo
• Projected year-2 tax: $1,427 · $119/mo
• Expected delta: +$515/yr (+$43/mo · 56.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥92°F today · 12 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,497
• − Mortgage interest: −$5,882
• − Property taxes: −$912
• − Insurance: −$525
• − Repairs & maintenance: −$1,640
• − Management: −$1,640
• − Depreciation: −$3,055
• Taxable income: $6,844
• Est. tax owed @ 24.0%: −$1,643
• After-tax cash flow: $6,505/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

• Census place: Superior, WI
• 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

+377.3% since first listed

4 events — show timeline

• 2026-04-27 Contingent — SAAR
• 2026-04-01 Listed $105,000 LSAR
• 2026-04-01 Listed $105,000 SAAR
• 2000-07-11 Sold (Public Records) $22,000 Public Records

Property tax history

+0.8%/yr

Latest (2025): $912 · -42.6% YoY. Source: county tax records.