1605 Hughitt Ave · Superior, WI 54880

$300,000

20 bd · 16.0 ba · 4,314 sqft · MultiFamily · 1 Days on market

Built 1895 6,969 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

Multi-family units

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

Listing remarks MLS

4 times the opportunity! if you are looking for a 4-plex, we have got you covered. This 4 unit home has 1 large main floor unit, 2 second floor units, and a large 3rd floor Hybrid studio apartment. 3 of the units are month to month, and the main floor tenant has a lease that expires 10/31/26. There is a ton of off street parking which is hard to find in this part of town. There is a fire escape from the upper level and 3 units access the home from the front. The main floor unit is accessed from a side entry or the back of the home. This unit has also has a washer and dryer in it. The basement is a shared entry off the back of the home with a shared coin-op washer and dryer. Unit 2 has an amazing balcony and would be perfect for those of you with really long hair There is a yard here with some space and it is located on a nice corner lot. The main floor unit is technically a 1 bedroom unit but there is a second room that could be used as a bedroom but you have to pass through the bathroom to access it. The upper three units pay water and gas, while the main floor unit pays water and electricity per the tenant. Because this home is located in the city, there are many internet options available. Newer water heaters in 2022, boiler in 2019, newer gas lines in 2020, roof in 2011, fire rated boiler room in 2009, Electrical service in 2004, $30k roofing and siding job in 2003 a. Be ready for when the bridge is closed, these units will fetch a premium!

Key facts

• 4 unit home
• Off street parking
• Shared entry

Tags

• 4 UNIT HOME
• OFF STREET PARKING
• FIRE ESCAPE
• SHARED ENTRY
• COIN-OP WASHER AND DRYER
• AMAZING BALCONY

Property features AI

Finance

• Financial info: Property produces gross income of $30,900 (multi-family); Owner pays grounds care, sewer, snow removal and trash collection; Tenants pay electricity, fuel and water
• HOA & community: Association amenities: unspecified

Exterior

• Parking: Parking lot and gravel parking; other parking described
• Utilities: City water connected; City sewer connected; Natural gas; Power provided by SW L&P
• Home design: Residential income property; More than 2 stories; Above-grade finished area totaling 4,314; Owner not occupied
• Construction: Frame construction; Asphalt roof; Foundation of poured concrete and stone (foundation area 1,710; foundation dimensions ~30x57 irregular); Building area total 4,314
• Exterior features: Corner lot with medium tree coverage; Metal and wood exterior features; Patio/porch described as other; City street frontage with curbs, paved streets, sidewalks, street lights and storm sewer; Publicly maintained road

Interior

• Kitchen: Dishwasher and Range in one unit; Range and Refrigerator in three units
• Bedrooms: Total of 5 bedrooms across units (individual unit bedrooms noted below)
• Bathrooms: Multiple full bathrooms across units (each unit has 1 full bathroom)
• Heating & cooling: Boiler hot water radiant heating; No cooling systems listed for units
• Interior features: Full, unfinished basement with owner and shared access and storage space; Walk-up attic
• Laundry & utility: Laundry located in basement and common area

What this means for you Summary

Snapshot

• This is a 4 × 5-bed/4.0-bath units multifamily listed at $300k.

Deal economics

• At list price, monthly cash flow is $4k ($49k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $300k).
• Cap rate 22.6% 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 $7,783/mo this rent would consume 137% 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 $2k of loan paydown is wiped out by about $9k 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 $84k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 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 $110k; list at $300k implies a 174% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1895 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $300,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1895 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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: 2.59% ✓
• Cap rate: 22.59%
• Cash-on-cash: 58.22%
• DSCR: 3.59
• GRM: 3.2

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: 56.5%
• Equity multiple: 3.49×
• Total profit: $209,190
• Equity at exit: $44,731

10-year hold

• IRR: 61.4%
• Equity multiple: 7.06×
• Total profit: $509,205
• Equity at exit: $25,939

Cash invested: $84,000 (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: 12.8×

Monthly cashflow live

• Estimated rent: $7,783 medium
• Mortgage (P&I): −$1,573
• Tax est. 1.5%: −$375 /mo · $4,500/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,634
• Net cashflow: $4,075

Break-even live

Break-even rent $2,624

Max offer price $300,000

Occupancy floor 43%

Sensitivity live

Price	-10% $4,283	-5% $4,179	+0% $4,075	+5% $3,972	+10% $3,868
Rent	-10% $3,460	-5% $3,768	+0% $4,075	+5% $4,383	+10% $4,690
Rate	-1.0pp $4,226	-0.5pp $4,152	base $4,075	+0.5pp $3,998	+1.0pp $3,919

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

Units	Beds	Baths	Est. rent
▸ 4× units	5	4	$7,784
Total (4 units)			$7,783

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: $75,000
• Closing costs: $9,000
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-06-17
   remarks 699-char remark

   Show marketing remark (1468 chars)

   4 times the opportunity! if you are looking for a 4-plex, we have got you covered. This 4 unit home has 1 large main floor unit, 2 second floor units, and a large 3rd floor Hybrid studio apartment. 3 of the units are month to month, and the main floor tenant has a lease that expires 10/31/26. There is a ton of off street parking which is hard to find in this part of town. There is a fire escape from the upper level and 3 units access the home from the front. The main floor unit is accessed from a side entry or the back of the home. This unit has also has a washer and dryer in it. The basement is a shared entry off the back of the home with a shared coin-op washer and dryer. Unit 2 has an amazing balcony and would be perfect for those of you with really long hair There is a yard here with some space and it is located on a nice corner lot. The main floor unit is technically a 1 bedroom unit but there is a second room that could be used as a bedroom but you have to pass through the bathroom to access it. The upper three units pay water and gas, while the main floor unit pays water and electricity per the tenant. Because this home is located in the city, there are many internet options available. Newer water heaters in 2022, boiler in 2019, newer gas lines in 2020, roof in 2011, fire rated boiler room in 2009, Electrical service in 2004, $30k roofing and siding job in 2003 a. Be ready for when the bridge is closed, these units will fetch a premium!

2. 2026-06-17
   listed $300,000 Active 1 DOM

   Show marketing remark (1468 chars)

   4 times the opportunity! if you are looking for a 4-plex, we have got you covered. This 4 unit home has 1 large main floor unit, 2 second floor units, and a large 3rd floor Hybrid studio apartment. 3 of the units are month to month, and the main floor tenant has a lease that expires 10/31/26. There is a ton of off street parking which is hard to find in this part of town. There is a fire escape from the upper level and 3 units access the home from the front. The main floor unit is accessed from a side entry or the back of the home. This unit has also has a washer and dryer in it. The basement is a shared entry off the back of the home with a shared coin-op washer and dryer. Unit 2 has an amazing balcony and would be perfect for those of you with really long hair There is a yard here with some space and it is located on a nice corner lot. The main floor unit is technically a 1 bedroom unit but there is a second room that could be used as a bedroom but you have to pass through the bathroom to access it. The upper three units pay water and gas, while the main floor unit pays water and electricity per the tenant. Because this home is located in the city, there are many internet options available. Newer water heaters in 2022, boiler in 2019, newer gas lines in 2020, roof in 2011, fire rated boiler room in 2009, Electrical service in 2004, $30k roofing and siding job in 2003 a. Be ready for when the bridge is closed, these units will fetch a premium!

ⓘ 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: $93,396
• − Mortgage interest: −$16,805
• − Property taxes: −$4,500
• − Insurance: −$1,500
• − Repairs & maintenance: −$7,472
• − Management: −$7,472
• − Depreciation: −$8,727
• Taxable income: $46,921
• Est. tax owed @ 24.0%: −$11,261
• After-tax cash flow: $37,643/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

+174.0% since first listed

4 events — show timeline

• 2026-06-17 Listed $300,000 LSAR
• 2026-06-16 Listed $300,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-06-16 Listed $300,000 SAAR
• 2007-02-28 Sold (MLS) $109,500 SAAR