1699 Alcan Dr #210 · Menasha, WI 54952

$114,900

1 bd · 1.0 ba · 700 sqft · Condo public records · 14 Days on market

Built 1973 $218/mo HOA · 23% 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
• ARV discount +7.5/15.0
• Cash flow +6.9/30.0
• Livability +4.0/5.0
• Rent growth +3.7/5.0
• 1% rule +3.4/10.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• DSCR +1.1/10.0

Listing remarks

Why rent when you can own? This affordable 1 bedroom, 1 bath second-floor condo offers comfortable, low-maintenance living in a convenient location. Enjoy the ease of a shared laundry room on the second level and the added bonus of a one-stall garage. Close to shopping, dining, and easy access to Hwy 441, this condo is worth a look. Call today!

Key facts

• Shared laundry room
• One-stall garage
• Convenient location

Tags

• SHARED LAUNDRY ROOM
• ONE-STALL GARAGE
• CONVENIENT LOCATION
• EASY ACCESS TO HWY 441

Property features AI

Finance

• Other: Condo zoned; Building described as 750 sq. ft. or less
• HOA & community: Monthly condo fee of $218; Association does not allow pets; Laundry facilities in the building; 32 units in the building/association

Exterior

• Parking: Detached 1-car garage
• Utilities: Municipal water; Municipal sewer; Electric service
• Home design: Condo (flat, one level)
• Construction: No finished below-grade space; Approximately 700 finished above-grade square feet
• Exterior features: Stucco and cedar exterior

Interior

• Kitchen: Microwave; Range/Oven; Refrigerator; Kitchen on the main level, about 7 x 7
• Bedrooms: Master bedroom on the main level, about 12 x 13
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating; Wall A/C
• Interior features: Storage locker included
• Laundry & utility: Shared laundry facilities in the association

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $115k.

Deal economics

• At list price, monthly cash flow is $-175 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $84k (26.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $97k (15.7% below list).
• Recommended offer: $84k (26.8% below list) — sets the bar for cash-flow.
• Cap rate 4.5% 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; 7 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).
• This rent is only 17% of the median local income ($69k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• In year one you build about $12k of equity ($794 loan paydown + $11k 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 ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $35k; list at $115k implies a 228% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 23% of rent.

Recommended offer $84,066 (26.8% 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 1973 — 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. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.84% ✗
• Cap rate: 4.47%
• Cash-on-cash: -6.51%
• DSCR: 0.71
• GRM: 9.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 20.2%
• Equity multiple: 2.65×
• Total profit: $53,168
• Equity at exit: $103,511

10-year hold

• IRR: 18.9%
• Equity multiple: 6.25×
• Total profit: $168,998
• Equity at exit: $223,225

Cash invested: $32,172 (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 54952

• Home prices YoY: 7.2%
• Rents YoY: 4.6%
• Active inventory: 69
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $968 high
• Mortgage (P&I): −$603
• Tax from tax record: −$71 /mo · $853/yr
• Insurance: −$48
• HOA: −$218
• Vacancy / Maint / Mgmt: −$203
• Net cashflow: $-175

Break-even live

Break-even rent $1,189

Max offer price $84,066

Occupancy floor —

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: $28,725
• Closing costs: $3,447
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1284 Midway Rd Menasha, WI	2.0–4.0	1.0–2.0	800	$1,250	$1.56	21d	1	0.42mi
2405 Honey Lou Ct Unit 2405 05 Appleton, WI	1.0	1.0	750	$899	$1.20	13d	1	0.46mi
2010 Regency Ct Unit 2021-6 Appleton, WI	1.0	1.0	625	$999	$1.60	13d	1	0.68mi
2010 Regency Ct Unit 2021-2 Appleton, WI	1.0	1.0	625	$899	$1.44	21d	1	0.68mi
1000 Lucerne Dr Menasha, WI	1.0–3.0	1.0	962	$849	$0.88	13d	34	0.79mi
1263 Manitowoc Rd #3 Menasha, WI	2.0	1.0	750	$825	$1.10	21d	1	1.36mi
700 S Memorial Dr Apt 4 Appleton, WI	1.0	1.0	650	$899	$1.38	21d	1	1.46mi

HOA detail condo

• Monthly dues: $218 · $2,616/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 12 events

1. 2026-06-19
   days on market $114,900 Active 14 DOM
2. 2026-06-18
   days on market $114,900 Active 13 DOM
3. 2026-06-17
   days on market $114,900 Active 12 DOM
4. 2026-06-16
   days on market $114,900 Active 11 DOM
5. 2026-06-15
   days on market $114,900 Active 10 DOM
6. 2026-06-14
   days on market $114,900 Active 8 DOM
7. 2026-06-13
   days on market $114,900 Active 7 DOM
8. 2026-06-10
   days on market $114,900 Active 5 DOM
9. 2026-06-09
   days on market $114,900 Active 4 DOM
10. 2026-06-08
    days on market $114,900 Active 3 DOM
11. 2026-06-07
    remarks 346-char remark
12. 2026-06-07
    listed $114,900 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: $853 · $71/mo
• Projected year-2 tax: $1,489 · $124/mo
• Expected delta: +$636/yr (+$53/mo · 74.6%)

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

Taxation est. · year 1

• Rental income: $11,620
• − Mortgage interest: −$6,436
• − Property taxes: −$853
• − Insurance: −$574
• − Repairs & maintenance: −$930
• − Management: −$930
• − HOA: −$2,616
• − Depreciation: −$3,343
• Taxable loss: −$4,062
• Est. tax savings @ 24.0%: +$975
• After-tax cash flow: $-1,120/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

+155.3% since first listed

3 events — show timeline

• 2026-06-02 Listed $114,900 RANW
• 2013-12-03 Sold (Public Records) $35,000 Public Records
• 2004-06-01 Sold (Public Records) $45,000 Public Records

Property tax history

-2.2%/yr

Latest (2021): $853 · +25.2% YoY. Source: county tax records.