812 Kay Kourt · Fox Crossing, WI 54952

$169,900

2 bd · 2.5 ba · 1,704 sqft · Townhouse · 13 Days on market

Built 1978 Est $160k · 6% over $240/mo HOA · 17% of rent

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Why this score? — see what drove the D- 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).

• Appreciation +10.0/10.0
• Cash flow +7.4/30.0
• ARV discount +4.8/15.0
• Schools +4.1/10.0
• Rent growth +3.7/5.0
• 1% rule +3.4/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.5/10.0

Listing remarks

This well-maintained home features a cozy fireplace and a bright eat-in kitchen with stainless steel appliances, and patio doors leading outdoors. The main level also includes a convenient half bath and six-panel doors throughout. Upstairs, you'll find two spacious bedrooms with beautiful flooring, generous closet space, and custom organizers, along with a full bath featuring a walk-in shower and large double closet. The finished lower level provides additional living space with a welcoming rec room, office/flex space, and a large full bath/laundry room complete with a tub and included washer and dryer. Updated windows add to the home's appeal. Enjoy access to fantastic amenities including

Key facts

• Patio doors
• Welcoming rec room
• Office flex space

Tags

• BRIGHT EAT-IN KITCHEN
• STAINLESS STEEL APPLIANCES
• PATIO DOORS
• FINISHED LOWER LEVEL
• WELCOMING REC ROOM
• OFFICE FLEX SPACE

Property features AI

Finance

• Other: Part of a 4-unit building within a 108-unit association; Zoned for condo/residential
• HOA & community: Monthly condo fee of $240; Community amenities include playground, pool, and tennis courts; Part of Sunset Village Condos

Exterior

• Parking: Detached 1-car garage
• Utilities: Municipal water; Municipal sewer; Electric service
• Home design: Condo (end unit townhouse); Shared wall/adjoining unit
• Construction: Finished above grade living area approximately 1,200; Finished below grade area approximately 504
• Exterior features: Vinyl exterior; Private entry

Interior

• Kitchen: Kitchen on main level approximately 14 x 13; Includes stove, refrigerator, dishwasher
• Bedrooms: Primary bedroom (Upper) approximately 15 x 14; Second bedroom (Upper) approximately 12 x 11
• Bathrooms: Two full bathrooms; One half bathroom
• Heating & cooling: Electric heat; Wall A/C
• Interior features: Private entry; Finished basement with poured concrete, sump pump
• Laundry & utility: Finished basement utility space (sump pump)

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath townhouse listed at $170k.

Deal economics

• At list price, monthly cash flow is $-220 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $131k (22.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $143k (15.8% below list).
• Recommended offer: $131k (22.9% below list) — sets the bar for cash-flow.
• Cap rate 4.7% vs local median 3.0% in Fox Crossing — 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: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Neenah Joint School District (urban): math 47% / reading 46% proficiency, ranked #72 of 342 in WI (top 21%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Spring Road Elementary (math 57% / reading 32%, grade F, #372 of 1,041 statewide, top 40%, 359 students, 34% FRL); Shattuck Middle (math 41% / reading 42%, grade F, #134 of 383 statewide, top 36%, 978 students, 32% FRL); Neenah High (math 41% / reading 60%, grade D+, #31 of 483 statewide, top 6%, 1,943 students, 28% FRL).
• Market conditions: Rents rising fast (+4.6%/yr); 69 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 652 units permitted in Winnebago County in 2024 (333 in 5+ unit buildings).

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

Recommended offer $130,997 (22.9% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 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: 0.84% ✗
• Cap rate: 4.74%
• Cash-on-cash: -5.56%
• DSCR: 0.75
• GRM: 9.9

CMA / ARV

• ARV (on-the-fly): $160,176
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
812 Kay Kourt	0.00mi	2/2.5	1,704 (0%)	11mo	$159,900	$94	90
829 Kay Kourt	0.04mi	3/1.5 (+1)	1,599 (-6%)	15mo	$156,000	$98	66
813 Kay Kourt	0.03mi	3/1.5 (+1)	1,506 (-12%)	23mo	$130,000	$86	51

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: 20.9%
• Equity multiple: 2.70×
• Total profit: $81,004
• Equity at exit: $153,059

10-year hold

• IRR: 19.4%
• Equity multiple: 6.36×
• Total profit: $254,967
• 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: 9.9×

Monthly cashflow live

• Estimated rent: $1,430 medium
• Mortgage (P&I): −$891
• Tax from tax record: −$148 /mo · $1,780/yr
• Insurance: −$71
• HOA: −$240
• Vacancy / Maint / Mgmt: −$300
• Net cashflow: $-220

Break-even live

Break-even rent $1,709

Max offer price $130,997

Occupancy floor —

Sensitivity live

Price	-10% $-124	-5% $-172	+0% $-220	+5% $-268	+10% $-316
Rent	-10% $-333	-5% $-277	+0% $-220	+5% $-164	+10% $-107
Rate	-1.0pp $-135	-0.5pp $-177	base $-220	+0.5pp $-264	+1.0pp $-309

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 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1697 Gateway Pl Unit 1061621P Neenah, WI	3.0	2.5	1689	$4,304	$2.55	15d	1	1.40mi

HOA detail

• Monthly dues: $240 · $2,880/yr

Listing history 12 events

1. 2026-06-22
   days on market $169,900 Active 13 DOM
2. 2026-06-19
   days on market $169,900 Active 11 DOM
3. 2026-06-18
   days on market $169,900 Active 10 DOM
4. 2026-06-18
   price $169,900 Active 9 DOM
5. 2026-06-17
   days on market $179,900 Active 9 DOM
6. 2026-06-16
   days on market $179,900 Active 8 DOM
7. 2026-06-15
   days on market $179,900 Active 7 DOM
8. 2026-06-14
   days on market $179,900 Active 5 DOM
9. 2026-06-13
   days on market $179,900 Active 4 DOM
10. 2026-06-10
    days on market $179,900 Active 2 DOM
11. 2026-06-09
    remarks 699-char remark
12. 2026-06-09
    listed $179,900 Active 1 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: $1,780 · $148/mo
• Projected year-2 tax: $2,462 · $205/mo
• Expected delta: +$681/yr (+$57/mo · 38.3%)

ⓘ 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 ≥98°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: $17,163
• − Mortgage interest: −$9,517
• − Property taxes: −$1,780
• − Insurance: −$850
• − Repairs & maintenance: −$1,373
• − Management: −$1,373
• − HOA: −$2,880
• − Depreciation: −$4,943
• Taxable loss: −$5,552
• Est. tax savings @ 24.0%: +$1,333
• After-tax cash flow: $-1,310/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: Neenah Joint School District
• NCES district ID: 5510320
• Math proficiency: 47% ▼ -3.00%
• Reading proficiency: 46% ▼ -4.00%
• Median HH income: $60,279
• Composite: 40.88/100
• National rank: #3625
• State rank: #72 of 342 in WI

Livability — Fox Crossing

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Fox Crossing, 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

+186.0% since first listed

5 events — show timeline

• 2026-06-08 Listed $179,900 RANW
• 2025-07-17 Sold (Public Records) $159,900 Public Records
• 2020-01-06 Sold (Public Records) $92,600 Public Records
• 2014-07-18 Sold (Public Records) $71,000 Public Records
• 2001-02-06 Sold (Public Records) $62,900 Public Records

Property tax history

+1.7%/yr

Latest (2024): $1,780 · +4.0% YoY. Source: county tax records.