710 Ceape Ave · Oshkosh, WI 54901

$219,900

4 bd · 2.0 ba · 2,664 sqft · MultiFamily public records · 9 Days on market

Built 1920 10,454 sqft lot Est $229k · at est.

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Why this score? — see what drove the C+ 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 +25.9/30.0
• ARV discount +9.3/15.0
• DSCR +8.7/10.0
• 1% rule +7.1/10.0
• Livability +4.2/5.0
• Rent growth +3.7/5.0
• Schools +2.9/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks

An ideal investment opportunity or owner-occupied duplex on the east side of Oshkosh! With both units currently leased, and the lower unit on a month-to-month lease, this property provides immediate income and flexibility. Property has several updates, on-site laundry, full basement for storage and a 2 car garage. Convenient locale - close to parks, Lake Winnebago, public transportation, entertainment and more!

Key facts

• Close to parks
• Immediate income
• Duplex

Tags

• DUPLEX
• IMMEDIATE INCOME
• CLOSE TO PARKS
• CLOSE TO DOWNTOWN
• CLOSE TO LAKE WINNEBAGO
• CLOSE TO PUBLIC TRANSPORT

Property features AI

Finance

• Other: Lot is about 0.24 acre; Zoned for 2-family/duplex
• Financial info: Two-unit investment property

Exterior

• Parking: Outside parking
• Utilities: Municipal water; Municipal sewer
• Home design: Multi-family duplex; 2-story / bi-level combination; Approximately 2,001–2,500 total finished area
• Construction: Property built (public record)
• Exterior features: Vinyl and wood exterior

Interior

• Kitchen: Unit 2 kitchen ~12 x 12
• Bedrooms: Unit 1 has 3 bedrooms; Unit 2 has 1 bedroom (master ~12 x 12)
• Bathrooms: Unit 1 has 1 full bathroom; Unit 2 has 1 full bathroom
• Heating & cooling: Forced air heating; Natural gas heat
• Interior features: Full stone basement; Two separate electric meters
• Laundry & utility: Separate electric meters for units

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $220k.

Deal economics

• At list price, monthly cash flow is $543 ($7k/yr) — positive. Per door: $271/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $220k).
• Cap rate 9.3% vs local median 3.7% in Oshkosh — 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 85/100 on livability (#29 in WI, #574 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+.
• Oshkosh Area School District (urban): math 33% / reading 34% proficiency, ranked #246 of 342 in WI (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+5.0%/yr); 82 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 652 units permitted in Winnebago County in 2024 (333 in 5+ unit buildings).
• At $2,669/mo this rent would consume 52% of the median local household income ($62k/yr) (locally 1484% 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 $7k of value loss. Plan a longer hold.
• Winnebago County population projected at +3% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 5.0% rent growth), your $62k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $72k; list at $220k implies a 205% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $219,900

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 1920 — 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: 1.21% ✓
• Cap rate: 9.25%
• Cash-on-cash: 10.58%
• DSCR: 1.47
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $229,104
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1118 Waugoo Ave	0.27mi	4/2.0	2,670 (+0%)	14mo	$230,000	$86	75
210 Bay St	0.16mi	4/2.0	2,544 (-4%)	15mo	$155,000	$61	73
115 E Parkway Ave	0.71mi	4/2.0	2,426 (-9%)	4mo	$175,000	$72	49
541 Mt Vernon St	0.64mi	5/2.0 (+1)	3,008 (+13%)	4mo	$191,000	$63	40
317 E Parkway Ave	0.65mi	4/2.0	2,401 (-10%)	19mo	$282,000	$117	37
1380 Ceape Ave	0.51mi	4/2.5	2,270 (-15%)	16mo	$197,000	$87	36

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 4.97% rent growth · sell at horizon

5-year hold

• IRR: 1.8%
• Equity multiple: 1.07×
• Total profit: $4,397
• Equity at exit: $32,788

10-year hold

• IRR: 13.3%
• Equity multiple: 2.16×
• Total profit: $71,663
• Equity at exit: $19,013

Cash invested: $61,572 (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 54901

• Rents YoY: 5.0%
• Active inventory: 82
• Price-to-rent: 13.7×

Monthly cashflow live

• Estimated rent: $2,669 high
• Mortgage (P&I): −$1,153
• Tax from tax record: −$321 /mo · $3,852/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$560
• Net cashflow: $543

Break-even live

Break-even rent $1,982

Max offer price $219,900

Occupancy floor 75%

Sensitivity live

Price	-10% $667	-5% $605	+0% $543	+5% $480	+10% $418
Rent	-10% $332	-5% $437	+0% $543	+5% $648	+10% $754
Rate	-1.0pp $653	-0.5pp $599	base $543	+0.5pp $486	+1.0pp $428

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,670
Total (2 units)			$2,669

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: $54,975
• Closing costs: $6,597
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1113 Harney Ave Unit 1061625P Oshkosh, WI	3.0	2.0	1991	$3,154	$1.58	14d	1	0.23mi
101 Algoma Blvd Unit 1332436P Oshkosh, WI	3.0	1.5	2798	$3,092	$1.11	44d	1	0.61mi

Listing history 9 events

1. 2026-06-19
   remarks 414-char remark
2. 2026-06-19
   days on market $219,900 Active 9 DOM
3. 2026-06-18
   days on market $219,900 Active 8 DOM
4. 2026-06-17
   days on market $219,900 Active 7 DOM
5. 2026-06-16
   days on market $219,900 Active 6 DOM
6. 2026-06-15
   days on market $219,900 Active 5 DOM
7. 2026-06-14
   days on market $219,900 Active 3 DOM
8. 2026-06-13
   remarks 354-char remark
9. 2026-06-13
   listed $219,900 Active 2 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast WI · Partial reset (capped growth)

• Current annual tax: $3,852 · $321/mo
• Projected year-2 tax: $3,960 · $330/mo
• Expected delta: +$108/yr (+$9/mo · 2.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥97°F today · 13 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,028
• − Mortgage interest: −$12,318
• − Property taxes: −$3,852
• − Insurance: −$1,100
• − Repairs & maintenance: −$2,562
• − Management: −$2,562
• − Depreciation: −$6,397
• Taxable income: $3,238
• Est. tax owed @ 24.0%: −$777
• After-tax cash flow: $5,736/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: Oshkosh Area School District
• NCES district ID: 5511190
• Math proficiency: 33% ▼ -7.00%
• Reading proficiency: 34% ▼ -2.00%
• Median HH income: $48,048
• Composite: 28.92/100
• National rank: #6634
• State rank: #246 of 342 in WI

Livability — Oshkosh

• Score: 85/100
• State rank: #29
• US rank: #574

Category grades

Amenities B+ Commute C Cost of living A+ Crime B Employment C Housing A+ Health & safety A+ User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Oshkosh, WI
• County: Winnebago County · 155,689 people
• City population: 81,810
• Metro: Oshkosh-Neenah, WI
• Population (ZIP): 37,294
• Household income: $61,794
• Rent vs Own: 50.4% rent · 49.6% own
• Severe rent burden: 1484.0

Population outlook (Winnebago County) Hauer SSP2

• Today (2025): 175,480 people
• By 2030: 177,928 · +1.4%
• By 2040: 180,873 · +3.1%
• By 2050: 181,302 · +3.3%
• By 2075: 184,071 · +4.9%
• By 2100: 175,932 · +0.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Black 6% Hispanic / Latino 6% Two or more races 5% Asian 4%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2%
• Common ancestry: Romanian 6% Portuguese 4% Lithuanian 2%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Other Asian/Pacific 2% Spanish 2% Arabic 1%

Political lean MEDSL · Winnebago

• 2024 margin: Toss-up / Even · D 46.9% · R 51.7% · Other 1.4%
• 2008→2024 swing: -16.4pp toward R · 2008: 11.7pp · 2024: -4.8pp
• All cycles: 2024: R+4.8 2020: R+4.0 2016: R+7.4 2012: D+3.8 2008: D+11.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -128.12%
• Current HPI: 187.7253
• Rent YoY: ▲ 4.97%
• Metro: Oshkosh-Neenah, 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

+82.5% since first listed

3 events — show timeline

• 2026-06-03 Listed $219,900 RANW
• 2009-08-17 Sold (Public Records) $72,000 Public Records
• 2003-10-17 Sold (Public Records) $120,500 Public Records

Property tax history

+5.0%/yr

Latest (2024): $3,852 · +43.6% YoY. Source: county tax records.