電停のそばの坂の上の廃屋に、狼が一疋住んでいて、夜ごと皆が寝静まった頃、そろりそろりと降りてくる、という噂。

Rumor has it that a wolf lives in a ruined house on the hill next to the tram stop, and when everyone has fallen asleep at night, it quietly, quietly comes down the hill.

The tram stop indicates that the hill is named 「逢神坂」/ Oukami-zaka, i.e. "meet-god hill"; the artist's commentary is a wordplay that turns it into Ookami-zaka / 「狼坂」, i.e. "wolf hill".

An actual 「逢神坂峠」/"Oukami-hill-pass" "exists":http://www.kumanokodocenter.com/kodoinfo/kodo13.html as part of of "Kumano Kodou":https://en.wikipedia.org/wiki/Kumano_Kod%C5%8D but does not correspond to this picture