319 E Algoma St

Suring, WI 54174

$109,900B-

3 bd · 2.0 ba · 1,974 sqft · Built 1979 · SingleFamily · Active · 111 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,235/mo
• Mortgage (P&I): −$576
• Tax + insurance: −$161
• HOA: −$0
• Vac / Maint / Mgmt: −$259
• Net cashflow: $238/mo
• Annual: $2,853/yr
• Cap rate: 8.89%
• Cash-on-cash: 9.27%
• DSCR: 1.41
• 1% rule: 1.12%
• Cash to close: $30,772

Investor read

• This is a 3-bed/2.0-bath single-family listed at $110k.
• At list price, monthly cash flow is $238 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• It's been on market 111 days — a 9% lower offer ($100k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $100k (9.0% below list) — sets the bar for market timing.
• In year one you build about $9k of equity ($760 loan paydown + $8k appreciation (7.2% local appreciation)).
• Location reads 63/100 on livability (#591 in WI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A-; Watch: crime C-, schools F, amenities F.
• Suring Public School District (rural): math 15% / reading 25% proficiency, ranked #413 of 426 in WI (top 97%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 15 active listings in the ZIP; 132 units permitted in Oconto County in 2024 (0 in 5+ unit buildings).
• Oconto County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (7.2% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 111 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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 F-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.