Green Bay as rental market

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Hello fellow BPers,

Curious as to others experiences in GB with multifamily & SFH for long term buy & hold. Looked at some property in East GB in a B or C neighborhood and Cap rate is b/w 8-12% as I estimate it. (I can't get the seller to provide OE yet - another issue in itself ). Property is well maintained and tenants apts are clean and maintained. All occupied units , but mo. to mo. for 3 of 4 tenants.

I also found a police call from 3 months ago for drugs on the police blotter that gives me further pause. Given the demographics (stagnant population growth & rents) of GB and 4 plex with only 1BRs and its limited tenant pool I'm not seeing long term value

Thoughts?