N11310 E Shore Rd

Ainsworth, WI 54462

$18,999D+

2 bd · 1.0 ba · 700 sqft · Built 1972 · MultiFamily · Active · 51 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $818/mo
• Mortgage (P&I): −$100
• Tax + insurance: −$32
• HOA: −$0
• Vac / Maint / Mgmt: −$172
• Net cashflow: $515/mo
• Annual: $6,175/yr
• Cap rate: 38.79%
• Cash-on-cash: 116.08%
• DSCR: 6.16
• 1% rule: 4.30%
• Cash to close: $5,320

Investor read

• This is a 2-bed/1.0-bath multifamily listed at $19k.
• At list price, monthly cash flow is $515 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($818 rent vs $19k).
• It's been on market 51 days — a 3% lower offer ($18k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $18k (3.0% below list) — sets the bar for market timing.
• In year one you build about $701 of equity ($131 loan paydown + $570 appreciation (3.0% local appreciation)).
• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Elcho School District (rural): math 20% / reading 15% proficiency, ranked #415 of 426 in WI (top 97%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Elcho Elementary (math 24% / reading 34%, grade F, #705 of 1,041 statewide, top 71%, 126 students, 48% FRL); Elcho Middle (math 5% / reading 15%, grade F, #372 of 383 statewide, top 97%, 58 students, 48% FRL); Elcho High (math 30% / reading 10%, grade F, #365 of 483 statewide, top 78%, 85 students, 48% FRL).
• Market conditions: 6 active listings in the ZIP; 186 units permitted in Langlade County in 2024 (0 in 5+ unit buildings).
• Langlade County population projected at -34% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 8y ago; this cycle's ask has dropped $5k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $5k cash investment doubles in ~1 year — after that, you're playing with house money.

Questions for listing agent

• It's been on market 51 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1972 — 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.
• 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 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.