1400 Knapp St · Oshkosh, WI 54902

$214,900

5 bd · 2.0 ba · 1,870 sqft · MultiFamily public records · 145 Days on market

Built 1920 5,662 sqft lot $115/sqft · 17% above area Est $178k · 21% over ↓ 2% since listing

---

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 +28.5/30.0
• DSCR +10.0/10.0
• 1% rule +7.6/10.0
• Livability +4.2/5.0
• Rent growth +3.2/5.0
• Schools +2.9/10.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• 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 MLS

Welcome to * * 1400 Knapp Street * * , a well-updated * * duplex in Oshkosh * * offering versatility and strong rental appeal. Both units feature * * several updates * * and * * functional layouts * * , with one unit offering * * three bedrooms and one bath * * and the other * * two bedrooms and one bath * * . Conveniently located near * * schools, parks, downtown access, and quick highway connections * * , this property supports consistent tenant demand. Ideal for a * * landlord or investor * * , it also presents an excellent * * owner-occupy opportunity?live in one unit and rent the other * * . A solid addition to any portfolio with location, layout, and income potential.

Key facts

• Several updates
• Income potential
• Downtown access

Tags

• SEVERAL UPDATES
• FUNCTIONAL LAYOUTS
• DOWNTOWN ACCESS
• QUICK HIGHWAY CONNECTIONS
• OWNER-OCCUPY OPPORTUNITY
• INCOME POTENTIAL

What this means for you Summary

Snapshot

• This is a 1×2bd/1.0ba + 1×3bd/1.0ba units multifamily listed at $215k.

Deal economics

• At list price, monthly cash flow is $705 ($8k/yr) — positive. Per door: $352/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $215k).
• Recommended offer: $189k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.2% 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 (+2.6%/yr); 44 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 652 units permitted in Winnebago County in 2024 (333 in 5+ unit buildings).
• At $2,709/mo this rent would consume 50% of the median local household income ($66k/yr) (locally 873% 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 $1k of loan paydown is wiped out by about $6k 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 + 2.6% rent growth), your $60k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 145 days — a 12% lower offer ($189k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $189,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 145 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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.
8. 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.
9. 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: 1.26% ✓
• Cap rate: 10.23%
• Cash-on-cash: 14.06%
• DSCR: 1.63
• GRM: 6.6

CMA / ARV

• ARV (median comp): $178,095
• List price: $214,900
• Delta: 20.67%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
717 W South Park Ave	0.32mi	5/2.0	1,940 (+4%)	4mo	$215,000	$111	76
1029 Ohio St	0.51mi	4/2.0 (-1)	1,948 (+4%)	11mo	$220,000	$113	55
929 W 4th Ave	0.65mi	5/2.0	2,054 (+10%)	19mo	$240,000	$117	37
609 W 4th Ave	0.75mi	4/2.0 (-1)	1,634 (-13%)	3mo	$180,000	$110	37
422 W 17th Ave	0.75mi	4/2.0 (-1)	1,974 (+6%)	23mo	$225,000	$114	32

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 · 2.6% rent growth · sell at horizon

5-year hold

• IRR: 3.9%
• Equity multiple: 1.15×
• Total profit: $9,000
• Equity at exit: $32,042

10-year hold

• IRR: 13.0%
• Equity multiple: 2.02×
• Total profit: $61,273
• Equity at exit: $18,581

Cash invested: $60,172 (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 54902

• Rents YoY: 2.6%
• Active inventory: 44
• Price-to-rent: 13.8×

Monthly cashflow live

• Estimated rent: $2,709 high
• Mortgage (P&I): −$1,127
• Tax from tax record: −$219 /mo · $2,624/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$569
• Net cashflow: $705

Break-even live

Break-even rent $1,817

Max offer price $214,900

Occupancy floor 69%

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

Units	Beds	Baths	Est. rent
1× unit	2	1	$1,296
1× unit	3	1	$1,414
Total (2 units)			$2,709

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: $53,725
• Closing costs: $6,447
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
953 W 6th Ave Unit NA Oshkosh, WI	4.0	2.0	1800	$1,748	$0.97	21d	1	0.44mi
500 Marion Rd Unit F204 Oshkosh, WI	4.0	2.0	1528	$2,000	$1.31	21d	1	1.16mi
306 Wisconsin St Oshkosh, WI	4.0	1.0	1500	$2,000	$1.33	21d	1	1.34mi

Listing history 16 events

1. 2026-06-16
   status $214,900 Pending 145 DOM
2. 2026-06-16
   days on market $214,900 Active w/ Contract 145 DOM
3. 2026-06-15
   days on market $214,900 Active w/ Contract 144 DOM
4. 2026-06-14
   days on market $214,900 Active w/ Contract 142 DOM
5. 2026-06-13
   statusdays on market $214,900 Active w/ Contract 141 DOM
6. 2026-06-10
   days on market $214,900 Active 139 DOM
7. 2026-06-09
   days on market $214,900 Active 138 DOM
8. 2026-06-08
   days on market $214,900 Active 137 DOM
9. 2026-06-07
   days on market $214,900 Active 136 DOM
10. 2026-06-02
    days on market $214,900 Active 131 DOM
11. 2026-06-01
    days on market $214,900 Active 130 DOM
12. 2026-05-31
    days on market $214,900 Active 129 DOM
13. 2026-05-30
    days on market $214,900 Active 128 DOM
14. 2026-03-12
    price $214,900 712-char remark

    Show marketing remark (712 chars)

    Welcome to * * 1400 Knapp Street * * , a well-updated * * duplex in Oshkosh * * offering versatility and strong rental appeal. Both units feature * * several updates * * and * * functional layouts * * , with one unit offering * * three bedrooms and one bath * * and the other * * two bedrooms and one bath * * . Conveniently located near * * schools, parks, downtown access, and quick highway connections * * , this property supports consistent tenant demand. Ideal for a * * landlord or investor * * , it also presents an excellent * * owner-occupy opportunity?live in one unit and rent the other * * . A solid addition to any portfolio with location, layout, and income potential.

15. 2026-01-19
    listed $219,900 Active 712-char remark

    Show marketing remark (712 chars)

    Welcome to * * 1400 Knapp Street * * , a well-updated * * duplex in Oshkosh * * offering versatility and strong rental appeal. Both units feature * * several updates * * and * * functional layouts * * , with one unit offering * * three bedrooms and one bath * * and the other * * two bedrooms and one bath * * . Conveniently located near * * schools, parks, downtown access, and quick highway connections * * , this property supports consistent tenant demand. Ideal for a * * landlord or investor * * , it also presents an excellent * * owner-occupy opportunity?live in one unit and rent the other * * . A solid addition to any portfolio with location, layout, and income potential.

16. 2022-01-01
    price $750

ⓘ 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: $2,624 · $219/mo
• Projected year-2 tax: $3,300 · $275/mo
• Expected delta: +$676/yr (+$56/mo · 25.8%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 69% 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,508
• − Mortgage interest: −$12,038
• − Property taxes: −$2,624
• − Insurance: −$1,074
• − Repairs & maintenance: −$2,601
• − Management: −$2,601
• − Depreciation: −$6,252
• Taxable income: $5,319
• Est. tax owed @ 24.0%: −$1,277
• After-tax cash flow: $7,183/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): 22,243
• Household income: $65,612
• Rent vs Own: 38.0% rent · 62.0% own
• Severe rent burden: 873.0

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 (84%)
• Race & ethnicity: White 84% Two or more races 7% Asian 4% Hispanic / Latino 3% Black 3%
• Common ancestry: Romanian 6% Portuguese 4% Lithuanian 3%
• Foreign-born: 2% · Canada, China
• Languages at home: 95% English-only · Other Asian/Pacific 2% Spanish 2%

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: ▼ -122.03%
• Current HPI: 187.4917
• Rent YoY: ▲ 2.60%
• 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

-2.3% since first listed

3 events — show timeline

• 2026-03-12 Price Changed $214,900 RANW
• 2026-01-19 Listed $219,900 RANW
• 2022-01-01 Price Changed $750 RENT.

Property tax history

+3.0%/yr

Latest (2024): $2,624 · +3.0% YoY. Source: county tax records.