816 Roosevelt St · Menasha, WI 54952

$169,900

3 bd · 2.0 ba · 1,183 sqft · MultiFamily public records · 11 Days on market

Built 1940 4,791 sqft lot Est $150k · 13% over

---

Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• Livability +4.0/5.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• ARV discount +1.6/15.0

Multi-family units

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

Listing remarks

* * Investor Opportunity in Menasha! * * Well-maintained duplex that's ready to add to your investment portfolio. This fully rented property offers immediate cash flow with reliable tenants already in place. Recent updates provide added value and peace of mind, making this a low-maintenance investment for both new & seasoned investors. Each unit offers comfortable living spaces with functional layouts that appeal to renters, while the property's convenient Menasha location provides easy access to schools, parks, shopping, dining, & major commuter routes. Whether you're looking to expand your rental portfolio or purchase your first investment property, this cute duplex checks a

Key facts

• Recent updates
• Functional layouts
• 4,791 sq ft lot

Tags

• FULLY RENTED PROPERTY
• RECENT UPDATES
• COMFORTABLE LIVING SPACES
• FUNCTIONAL LAYOUTS
• CONVENIENT MENASHA LOCATION
• EASY ACCESS TO SCHOOLS

Property features AI

Finance

• Other: Two-unit building (duplex) — Unit 1 approx. 676 sq. ft.; Unit 2 approx. 380 sq. ft.

Exterior

• Parking: Outside parking
• Utilities: Municipal water; Municipal sewer
• Home design: Multi-family property; 1.5-story / bi-level design; Estimated total living area between 1,001 and 1,250 sq. ft.
• Construction: Information source for year built: Assessor/Public Record
• Exterior features: Vinyl exterior; Lot under 1/2 acre (approx. 0.11 acre); Zoned for 2-family/duplex

Interior

• Kitchen: Unit 2 kitchen approx. 16 x 10
• Bedrooms: Unit 1 has 2 bedrooms; Unit 2 has 1 bedroom (master approx. 9 x 12)
• Bathrooms: Unit 1 has 1 full bathroom; Unit 2 has 1 full bathroom
• Heating & cooling: Forced air heating; Natural gas heating
• Interior features: Full block basement

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $170k.

Deal economics

• At list price, monthly cash flow is $910 ($11k/yr) — positive. Per door: $455/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $170k).
• Cap rate 12.7% vs local median 2.5% in Menasha — 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 80/100 on livability (#59 in WI, #1,628 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: employment C-, schools D, amenities D.
• Menasha Joint School District (suburban): math 30% / reading 24% proficiency, ranked #300 of 342 in WI (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+4.6%/yr); 69 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 652 units permitted in Winnebago County in 2024 (333 in 5+ unit buildings).
• This rent runs 45% of the median local income ($69k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $18k of equity ($1k loan paydown + $17k appreciation (10.0% local appreciation)).
• Winnebago County population projected at +3% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 4.6% rent growth), your $48k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$46k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $169,900

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 1940 — 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. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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.
7. 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.
8. 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: 1.53% ✓
• Cap rate: 12.72%
• Cash-on-cash: 22.97%
• DSCR: 2.02
• GRM: 5.5

CMA / ARV

• ARV (on-the-fly): $150,241
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
531 1st St	0.60mi	3/2.0	1,180 (-0%)	16mo	$150,000	$127	58

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

Projected returns pro-forma

10.0% appreciation · 4.62% rent growth · sell at horizon

5-year hold

• IRR: 42.4%
• Equity multiple: 4.25×
• Total profit: $154,833
• Equity at exit: $153,059

10-year hold

• IRR: 37.3%
• Equity multiple: 9.82×
• Total profit: $419,703
• Equity at exit: $330,078

Cash invested: $47,572 (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 54952

• Home prices YoY: 7.2%
• Rents YoY: 4.6%
• Active inventory: 69
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $2,594 medium
• Mortgage (P&I): −$891
• Tax from tax record: −$177 /mo · $2,125/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$545
• Net cashflow: $910

Break-even live

Break-even rent $1,442

Max offer price $169,900

Occupancy floor 60%

Sensitivity live

Price	-10% $1,007	-5% $959	+0% $910	+5% $862	+10% $814
Rent	-10% $706	-5% $808	+0% $910	+5% $1,013	+10% $1,115
Rate	-1.0pp $996	-0.5pp $954	base $910	+0.5pp $866	+1.0pp $822

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$2,594
Total (2 units)			$2,594

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
239 Edgewater Dr Unit 1061617P Menasha, WI	3.0	2.0	1194	$3,253	$2.72	13d	1	0.92mi
460 Ahnaip St Unit 301 Menasha, WI	2.0	1.0	970	$1,600	$1.65	21d	1	0.93mi
945 Tayco St Unit 941-05 Menasha, WI	2.0	1.0	1006	$1,149	$1.14	21d	1	1.00mi
945 Tayco St Menasha, WI	2.0	1.0	1006	$1,149	$1.14	14d	1	1.00mi
1 Main St Unit 208 Menasha, WI	2.0	2.0	1046	$1,600	$1.53	21d	1	1.08mi
1 Main St Unit 201 Menasha, WI	2.0	1.0	966	$1,500	$1.55	21d	1	1.08mi
1 Main St Unit 301 Menasha, WI	2.0	1.0	966	$1,550	$1.60	21d	1	1.08mi
1 Main St Unit 312 Menasha, WI	2.0	2.0	1209	$1,700	$1.41	21d	1	1.08mi
1 Main St Unit 401 Menasha, WI	2.0	1.5	1142	$1,625	$1.42	21d	1	1.09mi
1263 Manitowoc Rd #3 Menasha, WI	2.0	1.0	750	$825	$1.10	21d	1	1.13mi
1300 Geneva Rd Unit 1320-03 Menasha, WI	2.0	1.0	930	$1,259	$1.35	14d	1	1.26mi
1000 Lucerne Dr Menasha, WI	1.0–3.0	1.0	962	$1,599	$1.66	14d	34	1.29mi
1300 Lucerne Dr Unit 1340-06 Menasha, WI	2.0	2.0	1100	$1,239	$1.13	21d	1	1.44mi
413 Green St Neenah, WI	2.0	2.0	1250	$1,550	$1.24	21d	1	1.47mi

Listing history 8 events

1. 2026-06-19
   days on market $169,900 Active 11 DOM
2. 2026-06-18
   days on market $169,900 Active 10 DOM
3. 2026-06-17
   days on market $169,900 Active 9 DOM
4. 2026-06-16
   days on market $169,900 Active 8 DOM
5. 2026-06-15
   days on market $169,900 Active 7 DOM
6. 2026-06-14
   days on market $169,900 Active 5 DOM
7. 2026-06-13
   remarks 691-char remark
8. 2026-06-13
   listed $169,900 Active 4 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: $2,125 · $177/mo
• Projected year-2 tax: $2,634 · $219/mo
• Expected delta: +$509/yr (+$42/mo · 24.0%)

ⓘ 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: $31,128
• − Mortgage interest: −$9,517
• − Property taxes: −$2,125
• − Insurance: −$850
• − Repairs & maintenance: −$2,490
• − Management: −$2,490
• − Depreciation: −$4,943
• Taxable income: $8,714
• Est. tax owed @ 24.0%: −$2,091
• After-tax cash flow: $8,834/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: Menasha Joint School District
• NCES district ID: 5509030
• Math proficiency: 30% ▼ -10.00%
• Reading proficiency: 24% ▼ -7.00%
• Median HH income: $44,188
• Composite: 23.19/100
• National rank: #7945
• State rank: #300 of 342 in WI

Livability — Menasha

• Score: 80/100
• State rank: #59
• US rank: #1628

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Menasha, WI
• County: Winnebago County · 155,689 people
• Metro: Oshkosh-Neenah, WI
• Population (ZIP): 27,312
• Household income: $69,196
• Rent vs Own: 33.6% rent · 66.4% own
• Severe rent burden: 636.0

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 (81%)
• Race & ethnicity: White 81% Hispanic / Latino 11% Two or more races 8% Asian 2%
• Hispanic origin (detail): Mexican 8% Puerto Rican 3%
• Common ancestry: Romanian 6% Iranian 4% Portuguese 4%
• Foreign-born: 5% · Canada, China
• Languages at home: 91% English-only · Spanish 6% Other Asian/Pacific 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: ▲ 30.18%
• Current HPI: 446.39
• Rent YoY: ▲ 4.62%
• 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

1 event — show timeline

• 2026-06-08 Listed $169,900 RANW

Property tax history

+3.2%/yr

Latest (2021): $2,125 · +8.7% YoY. Source: county tax records.