2026 W 2nd St · Appleton, WI 54914

$199,900

3 bd · 1.0 ba · 1,276 sqft · SingleFamily · 52 Days on market

Built 1947 1.49 ac lot $157/sqft · at area comps Est $209k · 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 +22.6/30.0
• ARV discount +9.5/15.0
• DSCR +7.2/10.0
• 1% rule +5.3/10.0
• Rent growth +4.4/5.0
• Livability +4.1/5.0
• Schools +3.0/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Don?t miss your chance to own a property that combines space, versatility, and opportunity! This property delivers room to spread out and make it your own. Situated on 1.49+/- acres, the 3-bedroom home offers flexibility for owner-occupants or investors alike. Unique opportunity to own a home and a 54x30 shop that opens the door to endless possibilities?perfect for a home-based business, hobby space, storage and more! Plus it's located in the Town of Grand Chute, where you?ll enjoy the benefit of low town taxes.

Key facts

• 54x30 shop
• 1.49 acres
• Low town taxes

Tags

• 1.49 ACRES
• 54X30 SHOP
• HOME-BASED BUSINESS
• HOBBY SPACE
• LOW TOWN TAXES

Property features AI

Finance

• Other: Listing includes range, refrigerator, dishwasher, and window treatments; sellers' personal property is excluded

Exterior

• Parking: Detached tandem garage with space for 4+ cars (4 garage parking spaces total)
• Utilities: Well water; Private septic system
• Home design: 1.5-story single-family home; Construction completed
• Construction: Block foundation; Assessor/public records provide year built (exact year not listed)
• Exterior features: Aluminum/steel exterior; Lot of approximately 1.49 acres; Property is zoned residential

Interior

• Kitchen: Kitchen (Main level) — 9 x 12; Dishwasher; Range/Oven; Refrigerator; Window treatments included
• Bedrooms: Master bedroom (Main level) — 9 x 14; Bedroom 2 (Upper level) — 18 x 7; Bedroom 3 (Main level) — 8 x 8
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Natural gas fuel
• Interior features: Full basement with partial finish and block construction
• Laundry & utility: Washer/dryer not specifically listed (utility details not provided)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $340 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).
• Recommended offer: $194k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.3% vs local median 3.8% in Appleton — 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 82/100 on livability (#44 in WI, #1,073 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: amenities C-.
• Appleton Area School District (urban): math 33% / reading 36% proficiency, ranked #224 of 342 in WI (top 66%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+7.8%/yr); 54 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 460 units permitted in Outagamie County in 2024 (30 in 5+ unit buildings).
• This rent runs 31% of the median local income ($80k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Outagamie County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 7.8% rent growth), your $56k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($194k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $93k; list at $200k implies a 115% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $193,903 (3.0% below list)

Questions for the listing agent

1. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1947 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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.

Investment metrics

• 1% rule: 1.03% ✓
• Cap rate: 8.33%
• Cash-on-cash: 7.28%
• DSCR: 1.32
• GRM: 8.1

CMA / ARV

• ARV (median comp): $209,110
• List price: $199,900
• Delta: -4.40%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1719 S Seminole Rd	0.65mi	3/1.0	1,232 (-3%)	3mo	$285,000	$231	62
1417 W 8th St	0.54mi	3/2.0	1,336 (+5%)	2mo	$212,000	$159	61
319 S Spruce St	0.74mi	3/1.5	1,296 (+2%)	0mo	$262,000	$202	60
315 S Victoria St	0.39mi	2/1.0 (-1)	1,152 (-10%)	2mo	$206,000	$179	59
1400 W Prospect Ave	0.55mi	3/1.0	1,197 (-6%)	7mo	$185,000	$155	59
121 S Outagamie St	0.63mi	3/1.5	1,364 (+7%)	1mo	$257,000	$188	56
1623 W Spencer St	0.38mi	3/1.0	1,112 (-13%)	8mo	$205,000	$184	54
1719 S Perkins St	0.64mi	3/2.0	1,344 (+5%)	6mo	$302,000	$225	52
711 S Mason St	0.63mi	3/1.0	1,376 (+8%)	10mo	$247,000	$180	49
400 S Outagamie St	0.57mi	2/1.0 (-1)	1,140 (-11%)	2mo	$230,000	$202	49
1517 W Franklin St	0.69mi	3/1.0	1,184 (-7%)	9mo	$260,000	$220	49
1702 S Douglas St	0.73mi	3/1.0	1,352 (+6%)	11mo	$250,000	$185	47

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 · 7.77% rent growth · sell at horizon

5-year hold

• IRR: -0.2%
• Equity multiple: 0.99×
• Total profit: $-469
• Equity at exit: $29,806

10-year hold

• IRR: 13.7%
• Equity multiple: 2.32×
• Total profit: $74,086
• Equity at exit: $17,284

Cash invested: $55,972 (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 54914

• Rents YoY: 7.8%
• Active inventory: 54
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $2,053 high
• Mortgage (P&I): −$1,048
• Tax from tax record: −$150 /mo · $1,805/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$431
• Net cashflow: $340

Break-even live

Break-even rent $1,623

Max offer price $199,900

Occupancy floor 78%

Sensitivity live

Price	-10% $453	-5% $396	+0% $340	+5% $283	+10% $226
Rent	-10% $177	-5% $258	+0% $340	+5% $421	+10% $502
Rate	-1.0pp $440	-0.5pp $390	base $340	+0.5pp $288	+1.0pp $235

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3000 W Spencer St Appleton, WI	1.0–2.0	1.0	787	$1,199	$1.52	14d	13	0.77mi
217 S Badger Ave Unit 1387451P Appleton, WI	3.0	2.0	1194	$3,470	$2.91	14d	1	1.05mi
1500 Palisades Dr Unit 1061611P Appleton, WI	3.0	2.0	1496	$6,793	$4.54	14d	1	1.07mi
609 S State St Unit 1061651P Appleton, WI	4.0	2.5	1593	$3,236	$2.03	44d	1	1.24mi
1115 N Mason St Appleton, WI	3.0	2.0	1664	$1,495	$0.90	14d	1	1.26mi
826 W Elsie St Appleton, WI	4.0	2.0	1328	$1,800	$1.36	22d	1	1.29mi
2130 W Russet Ct Appleton, WI	1.0–2.0	1.0	900	$1,270	$1.41	14d	1	1.31mi
1006 W Spring St Appleton, WI	2.0	1.0	900	$2,250	$2.50	44d	1	1.38mi
806 N Richmond St Appleton, WI	4.0	1.5	1260	$2,695	$2.14	22d	1	1.48mi

Listing history 20 events

1. 2026-06-19
   days on market $199,900 Active 52 DOM
2. 2026-06-18
   days on market $199,900 Active 51 DOM
3. 2026-06-17
   status $199,900 Active 50 DOM
4. 2026-06-17
   days on market $199,900 Active w/ Contract 50 DOM
5. 2026-06-16
   days on market $199,900 Active w/ Contract 49 DOM
6. 2026-06-15
   days on market $199,900 Active w/ Contract 48 DOM
7. 2026-06-14
   days on market $199,900 Active w/ Contract 46 DOM
8. 2026-06-13
   days on market $199,900 Active w/ Contract 45 DOM
9. 2026-06-10
   days on market $199,900 Active w/ Contract 43 DOM
10. 2026-06-09
    days on market $199,900 Active w/ Contract 42 DOM
11. 2026-06-08
    days on market $199,900 Active w/ Contract 41 DOM
12. 2026-06-07
    days on market $199,900 Active w/ Contract 40 DOM
13. 2026-06-05
    days on market $199,900 Active w/ Contract 37 DOM
14. 2026-06-03
    days on market $199,900 Active w/ Contract 36 DOM
15. 2026-06-02
    days on market $199,900 Active w/ Contract 35 DOM
16. 2026-06-01
    days on market $199,900 Active w/ Contract 34 DOM
17. 2026-05-31
    days on market $199,900 Active w/ Contract 33 DOM
18. 2026-05-30
    days on market $199,900 Active w/ Contract 32 DOM
19. 2026-03-24
    listed $199,900 Active 518-char remark
20. 2010-10-20
    soldstatus $93,000

ⓘ 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: $1,805 · $150/mo
• Projected year-2 tax: $2,752 · $229/mo
• Expected delta: +$946/yr (+$79/mo · 52.4%)

ⓘ 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 · 12 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,632
• − Mortgage interest: −$11,198
• − Property taxes: −$1,805
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,971
• − Management: −$1,971
• − Depreciation: −$5,815
• Taxable income: $873
• Est. tax owed @ 24.0%: −$210
• After-tax cash flow: $3,865/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: Appleton Area School District
• NCES district ID: 5500390
• Math proficiency: 33% ▼ -6.00%
• Reading proficiency: 36% ▼ -1.00%
• Median HH income: $53,892
• Composite: 30.3/100
• National rank: #6279
• State rank: #224 of 342 in WI

Livability — Appleton

• Score: 82/100
• State rank: #44
• US rank: #1073

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Outagamie County · 155,051 people
• City population: 126,671
• Metro: Appleton, WI
• Population (ZIP): 31,849
• Household income: $79,875
• Rent vs Own: 39.1% rent · 60.9% own
• Severe rent burden: 744.0

Population outlook (Outagamie County) Hauer SSP2

• Today (2025): 195,863 people
• By 2030: 201,154 · +2.7%
• By 2040: 209,053 · +6.7%
• By 2050: 211,957 · +8.2%
• By 2075: 214,299 · +9.4%
• By 2100: 200,825 · +2.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Hispanic / Latino 9% Two or more races 8% Asian 5% Black 2%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Romanian 6% Portuguese 4% Iranian 4%
• Foreign-born: 7% · Canada
• Languages at home: 88% English-only · Spanish 7% Other Asian/Pacific 3% German/W. Germanic 1%

Political lean MEDSL · Outagamie

• 2024 margin: R (+10.2) · D 44.2% · R 54.4% · Other 1.5%
• 2008→2024 swing: -21.8pp toward R · 2008: 11.6pp · 2024: -10.2pp
• All cycles: 2024: R+10.2 2020: R+9.9 2016: R+12.6 2012: R+1.8 2008: D+11.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -213.81%
• Current HPI: 214.5939
• Rent YoY: ▲ 7.77%
• Metro: Appleton, 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

+114.9% since first listed

4 events — show timeline

• 2026-06-17 Relisted — RANW
• 2026-05-20 Contingent — RANW
• 2026-03-24 Listed $199,900 RANW
• 2010-10-20 Sold (Public Records) $93,000 Public Records

Property tax history

-0.4%/yr

Latest (2025): $1,805 · +15.5% YoY. Source: county tax records.