1013 Wyman St · New London, WI 54961

$255,000

5 bd · 2.5 ba · 1,842 sqft · Other · 20 Days on market

Built 1925 6,534 sqft lot

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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
• DSCR +4.6/10.0
• Schools +3.7/10.0
• Livability +3.6/5.0
• 1% rule +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Beautifully updated 5 BR, 2.5 BA home situated on large lot in the heart of New London! Dream kitchen has been fully remodeled and features abundant cabinetry, expansive counter space, large center island, stainless steel appliances included. Adjacent DA offers gorgeous electric fp, creating perfect gathering space. Updated LVP flooring flows throughout, while the spacious LR showcases wall of windows that fills the space with natural light. Main level offers 2 BR, including primary, shared full BA, and convenient ff laundry. Upstairs you?ll find 3 generous sized BR w/ ample storage and an updated full bath complete with a soaking tub. A move-in ready home with charm in desirable location!

Key facts

• Large center island
• Updated kitchen
• Updated flooring

Tags

• UPDATED KITCHEN
• EXPANSIVE COUNTER SPACE
• LARGE CENTER ISLAND
• STAINLESS STEEL APPLIANCES
• ELECTRIC FIREPLACE
• UPDATED FLOORING

Property features AI

Exterior

• Utilities: Municipal water; Municipal sewer; Natural gas service
• Home design: 1.5-story single-family home; Construction completed; Finished above-grade area about 1,842
• Construction: Aluminum/steel exterior; Stone foundation; Year built from assessor/public records
• Exterior features: Aluminum/steel exterior; Lot approximately 0.15 acre; Zoned residential

Interior

• Kitchen: Kitchen with island; Range/oven; Microwave; Dishwasher; Refrigerator
• Bedrooms: Main-level master bedroom (12 x 10); Main-level bedroom 2 (9 x 9); Upper-level bedroom 3 (15 x 15); Upper-level bedroom 4 (15 x 12); Upper-level bedroom 5 (15 x 12)
• Flooring: Wood floors
• Bathrooms: Two full bathrooms; One half bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Wood floors; Full basement with stone foundation and sump pump
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 5-bed/2.5-bath other listed at $255k.

Deal economics

• At list price, monthly cash flow is $78 ($935/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 $206k (19.4% below list).
• Recommended offer: $206k (19.4% below list) — sets the bar for 1% rule.
• Cap rate 6.7% vs local median 4.9% in New London — 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 71/100 on livability (#268 in WI) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools D+, amenities F, commute F.
• New London School District (town): math 48% / reading 37% proficiency, ranked #120 of 342 in WI (top 35%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 39 active listings in the ZIP; 287 units permitted in Waupaca County in 2024 (173 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Waupaca County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($251k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $205,504 (19.4% below list)

Questions for the listing agent

1. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 0.81% ✗
• Cap rate: 6.66%
• Cash-on-cash: 1.31%
• DSCR: 1.06
• GRM: 10.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -14.3%
• Equity multiple: 0.49×
• Total profit: $-36,463
• Equity at exit: $38,021

10-year hold

• IRR: -5.6%
• Equity multiple: 0.64×
• Total profit: $-25,779
• Equity at exit: $22,048

Cash invested: $71,400 (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 54961

• Home prices YoY: -32.2%
• Active inventory: 39
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $2,055 medium
• Mortgage (P&I): −$1,337
• Tax from tax record: −$102 /mo · $1,225/yr
• Insurance: −$106
• HOA: −$0
• Vacancy / Maint / Mgmt: −$432
• Net cashflow: $78

Break-even live

Break-even rent $1,956

Max offer price $255,000

Occupancy floor 91%

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: $63,750
• Closing costs: $7,650
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $255,000 Active 20 DOM
2. 2026-06-17
   days on market $255,000 Active 19 DOM
3. 2026-06-16
   days on market $255,000 Active 18 DOM
4. 2026-06-15
   days on market $255,000 Active 17 DOM
5. 2026-06-15
   days on market $255,000 Active 16 DOM
6. 2026-06-13
   days on market $255,000 Active 15 DOM
7. 2026-06-12
   days on market $255,000 Active 14 DOM
8. 2026-06-09
   days on market $255,000 Active 11 DOM
9. 2026-06-08
   days on market $255,000 Active 10 DOM
10. 2026-06-08
    days on market $255,000 Active 9 DOM
11. 2026-06-05
    days on market $255,000 Active 7 DOM
12. 2026-06-03
    days on market $255,000 Active 5 DOM
13. 2026-06-02
    days on market $255,000 Active 4 DOM
14. 2026-06-01
    days on market $255,000 Active 3 DOM
15. 2026-05-31
    days on market $255,000 Active 2 DOM
16. 2026-05-29
    listed $255,000 Active

ⓘ 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: $1,225 · $102/mo
• Projected year-2 tax: $2,971 · $248/mo
• Expected delta: +$1,746/yr (+$146/mo · 142.5%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥98°F today · 12 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,660
• − Mortgage interest: −$14,284
• − Property taxes: −$1,225
• − Insurance: −$1,275
• − Repairs & maintenance: −$1,973
• − Management: −$1,973
• − Depreciation: −$7,418
• Taxable loss: −$3,488
• Est. tax savings @ 24.0%: +$837
• After-tax cash flow: $1,772/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: New London School District
• NCES district ID: 5510590
• Math proficiency: 48% ▼ -3.00%
• Reading proficiency: 37% ▼ -5.00%
• Median HH income: $55,684
• Composite: 37.17/100
• National rank: #4480
• State rank: #120 of 342 in WI

Livability — New London

• Score: 71/100
• State rank: #268
• US rank: #6862

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New London, WI
• Population (ZIP): 14,310

Population outlook (Waupaca County) Hauer SSP2

• Today (2025): 51,499 people
• By 2030: 50,628 · -1.7%
• By 2040: 47,858 · -7.1%
• By 2050: 44,228 · -14.1%
• By 2075: 37,069 · -28.0%
• By 2100: 29,186 · -43.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Hispanic / Latino 5% Two or more races 4% Asian 1% Black 1%
• Common ancestry: Romanian 7% Portuguese 5% Lithuanian 4%
• Foreign-born: 1% · Canada
• Languages at home: 95% English-only · Spanish 3%

Political lean MEDSL · Waupaca

• 2024 margin: Solid R (+33.4) · D 32.8% · R 66.2% · Other 1.1%
• 2008→2024 swing: -36.2pp toward R · 2008: 2.8pp · 2024: -33.4pp
• All cycles: 2024: R+33.4 2020: R+31.8 2016: R+30.2 2012: R+9.4 2008: D+2.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -102.06%
• Current HPI: 214.5592
• Rent YoY: —
• Metro: —
• 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

1 event — show timeline

• 2026-05-29 Listed $255,000 RANW

Property tax history

-2.4%/yr

Latest (2025): $1,225 · +16.2% YoY. Source: county tax records.