1735 11th Ave

Green Bay, WI 54304

$149,900D

2 bd · 1.0 ba · 826 sqft · Built 1948 · Other · Active · 3 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,368/mo
• Mortgage (P&I): −$786
• Tax + insurance: −$215
• HOA: −$0
• Vac / Maint / Mgmt: −$287
• Net cashflow: $80/mo
• Annual: $958/yr
• Cap rate: 6.93%
• Cash-on-cash: 2.28%
• DSCR: 1.10
• 1% rule: 0.91%
• Cash to close: $41,972

Investor read

• This is a 2-bed/1.0-bath other listed at $150k.
• At list price, monthly cash flow is $80 ($958/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 $137k (8.8% below list).
• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $137k (8.8% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 71/100 on livability (#238 in WI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: crime D, commute F.
• Green Bay Area Public School District (urban): math 18% / reading 20% proficiency, ranked #333 of 342 in WI (top 97%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Aldo Leopold Community School K-8 (math 42% / reading 32%, grade F, #562 of 1,041 statewide, top 58%, 557 students, 38% FRL); Lombardi Middle (math 17% / reading 29%, grade F, #330 of 383 statewide, top 87%, 703 students, 59% FRL); Southwest High (math 18% / reading 19%, grade F, #396 of 483 statewide, top 82%, 1,079 students, 45% FRL).
• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 84 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 1,585 units permitted in Brown County in 2024 (877 in 5+ unit buildings).
• Brown County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• Current owner paid $66k; list at $150k implies a 127% gain — meaningful room to come down on a strong offer.
• Cap rate 6.9% vs local median 3.2% in Green Bay — 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

• Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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?
• 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.