549 Jefferson St · Oshkosh, WI 54901

$283,500

3 bd · 3.0 ba · 2,488 sqft · MultiFamily public records · 86 Days on market

Built 1876 4,800 sqft lot $114/sqft · 50% above area

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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 +24.3/30.0
• DSCR +7.9/10.0
• ARV discount +7.5/15.0
• 1% rule +6.2/10.0
• Livability +4.2/5.0
• Rent growth +3.7/5.0
• Schools +2.9/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Well-maintained 3-unit investment property in Oshkosh. Property features a unit mix of (2) 1-bedroom/1-bath units and (1) studio. Fully rented with separated utilities, offering reduced landlord expenses. Ideal for investors seeking a turnkey property with consistent rental income. Convenient location near downtown amenities, shopping, and public transportation. Great opportunity to expand or start your investment portfolio.

Key facts

• Unit mix
• Downtown amenities
• Investment property

Tags

• INVESTMENT PROPERTY
• UNIT MIX
• SEPARATED UTILITIES
• CONVENIENT LOCATION
• DOWNTOWN AMENITIES
• PUBLIC TRANSPORTATION

What this means for you Summary

Snapshot

• This is a 2×1bd/1ba + 1×?bd/1ba units multifamily listed at $284k.

Deal economics

• At list price, monthly cash flow is $573 ($7k/yr) — positive. Per door: $191/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $284k).
• Recommended offer: $266k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.7% 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 fast (+5.0%/yr); 82 active listings in the ZIP; 5 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).
• At $3,169/mo this rent would consume 62% of the median local household income ($62k/yr) (locally 1484% 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 $2k of loan paydown is wiped out by about $9k 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 + 5.0% rent growth), your $79k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 86 days — a 6% lower offer ($266k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 3y ago 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.

Risks & watch-outs

• Watch-outs: built in 1876 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $266,490 (6.0% below list)

Questions for the listing agent

1. It's been on market 86 days. Have you received any prior offers? Is the seller open to a 6% 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 1876 — 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: 1.12% ✓
• Cap rate: 8.72%
• Cash-on-cash: 8.66%
• DSCR: 1.39
• GRM: 7.5

CMA / ARV

• ARV (median comp): $188,914
• List price: $283,500
• Delta: 50.07%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
115 E Parkway Ave	0.08mi	4/2.0 (+1)	2,426 (-2%)	4mo	$175,000	$72	80
111 Fulton Ave	0.32mi	4/2.0 (+1)	2,297 (-8%)	1mo	$202,500	$88	62
724 Jackson St	0.43mi	4/3.0 (+1)	2,383 (-4%)	9mo	$205,000	$86	61
317 E Parkway Ave	0.18mi	4/2.0 (+1)	2,401 (-4%)	19mo	$282,000	$117	61
802 Washington Ave	0.52mi	2/3.0 (-1)	2,588 (+4%)	8mo	$210,000	$81	58
709 Franklin St	0.39mi	4/3.0 (+1)	2,174 (-13%)	1mo	$175,000	$80	55
107 Fulton Ave	0.32mi	4/2.0 (+1)	2,353 (-5%)	16mo	$175,000	$74	54
229 E Irving Ave	0.28mi	4/2.0 (+1)	2,146 (-14%)	1mo	$168,000	$78	54
650 Jackson St	0.37mi	4/2.0 (+1)	2,194 (-12%)	4mo	$130,000	$59	50
210 Bay St	0.53mi	4/2.0 (+1)	2,544 (+2%)	15mo	$155,000	$61	50
501 High Ave	0.43mi	4/4.0 (+1)	2,599 (+4%)	18mo	$255,000	$98	48
325 E Lincoln Ave	0.42mi	4/2.0 (+1)	2,189 (-12%)	19mo	$230,000	$105	35

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 · 4.97% rent growth · sell at horizon

5-year hold

• IRR: -1.0%
• Equity multiple: 0.96×
• Total profit: $-3,016
• Equity at exit: $42,271

10-year hold

• IRR: 10.7%
• Equity multiple: 1.91×
• Total profit: $71,844
• Equity at exit: $24,512

Cash invested: $79,380 (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 54901

• Rents YoY: 5.0%
• Active inventory: 82
• Price-to-rent: 22.1×

Monthly cashflow live

• Estimated rent: $3,169 high
• Mortgage (P&I): −$1,487
• Tax from tax record: −$326 /mo · $3,909/yr
• Insurance: −$118
• HOA: −$0
• Vacancy / Maint / Mgmt: −$665
• Net cashflow: $573

Break-even live

Break-even rent $2,444

Max offer price $283,500

Occupancy floor 77%

Sensitivity live

Price	-10% $733	-5% $653	+0% $573	+5% $493	+10% $412
Rent	-10% $323	-5% $448	+0% $573	+5% $698	+10% $823
Rate	-1.0pp $716	-0.5pp $645	base $573	+0.5pp $499	+1.0pp $425

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

Units	Beds	Baths	Est. rent
▸ 2× units	1	1	$2,136
1× unit	0	1	$1,033
Total (3 units)			$3,169

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: $70,875
• Closing costs: $8,505
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
101 Algoma Blvd Unit 1332436P Oshkosh, WI	3.0	1.5	2798	$3,092	$1.11	44d	1	0.23mi
685 Franklin St Unit B Oshkosh, WI	4.0	2.0	1721	$1,700	$0.99	22d	1	0.34mi
1113 Harney Ave Unit 1061625P Oshkosh, WI	3.0	2.0	1991	$3,154	$1.58	14d	1	0.92mi
904 W 8th Ave Oshkosh, WI	3.0	1.0	1759	$1,600	$0.91	14d	1	1.35mi
953 W 6th Ave Unit NA Oshkosh, WI	4.0	2.0	1800	$1,748	$0.97	22d	1	1.39mi

Listing history 28 events

1. 2026-06-19
   days on market $283,500 Active 86 DOM
2. 2026-06-18
   days on market $283,500 Active 85 DOM
3. 2026-06-17
   days on market $283,500 Active 84 DOM
4. 2026-06-16
   days on market $283,500 Active 83 DOM
5. 2026-06-15
   days on market $283,500 Active 82 DOM
6. 2026-06-14
   days on market $283,500 Active 80 DOM
7. 2026-06-13
   days on market $283,500 Active 79 DOM
8. 2026-06-10
   days on market $283,500 Active 77 DOM
9. 2026-06-09
   days on market $283,500 Active 76 DOM
10. 2026-06-08
    days on market $283,500 Active 75 DOM
11. 2026-06-07
    days on market $283,500 Active 74 DOM
12. 2026-06-02
    days on market $283,500 Active 69 DOM
13. 2026-06-01
    days on market $283,500 Active 68 DOM
14. 2026-05-31
    days on market $283,500 Active 67 DOM
15. 2026-05-30
    days on market $283,500 Active 66 DOM
16. 2026-04-28
    price $283,500 428-char remark

    Show marketing remark (428 chars)

    Well-maintained 3-unit investment property in Oshkosh. Property features a unit mix of (2) 1-bedroom/1-bath units and (1) studio. Fully rented with separated utilities, offering reduced landlord expenses. Ideal for investors seeking a turnkey property with consistent rental income. Convenient location near downtown amenities, shopping, and public transportation. Great opportunity to expand or start your investment portfolio.

17. 2026-03-15
    listed $285,000 Active 428-char remark

    Show marketing remark (428 chars)

    Well-maintained 3-unit investment property in Oshkosh. Property features a unit mix of (2) 1-bedroom/1-bath units and (1) studio. Fully rented with separated utilities, offering reduced landlord expenses. Ideal for investors seeking a turnkey property with consistent rental income. Convenient location near downtown amenities, shopping, and public transportation. Great opportunity to expand or start your investment portfolio.

18. 2024-12-28
    historical $675
19. 2024-12-12
    listed $675
20. 2024-05-31
    historical $600
21. 2024-05-22
    listed $600
22. 2024-01-13
    historical $750
23. 2023-12-14
    listed $750
24. 2023-11-24
    historical $650
25. 2023-11-06
    listed $650
26. 2022-03-06
    price $725
27. 2014-12-29
    soldstatus $645,200
28. 2008-07-25
    soldstatus $110,000

ⓘ 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: $3,909 · $326/mo
• Projected year-2 tax: $4,577 · $381/mo
• Expected delta: +$668/yr (+$56/mo · 17.1%)

ⓘ 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: $38,028
• − Mortgage interest: −$15,880
• − Property taxes: −$3,909
• − Insurance: −$1,418
• − Repairs & maintenance: −$3,042
• − Management: −$3,042
• − Depreciation: −$8,247
• Taxable income: $2,489
• Est. tax owed @ 24.0%: −$597
• After-tax cash flow: $6,277/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): 37,294
• Household income: $61,794
• Rent vs Own: 50.4% rent · 49.6% own
• Severe rent burden: 1484.0

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 (80%)
• Race & ethnicity: White 80% Black 6% Hispanic / Latino 6% Two or more races 5% Asian 4%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2%
• Common ancestry: Romanian 6% Portuguese 4% Lithuanian 2%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Other Asian/Pacific 2% Spanish 2% Arabic 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: ▼ -128.12%
• Current HPI: 187.7253
• Rent YoY: ▲ 4.97%
• 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

+157.7% since first listed

13 events — show timeline

• 2026-04-28 Price Changed $283,500 RANW
• 2026-03-15 Listed $285,000 RANW
• 2024-12-28 Rental Removed $675 BUILDIUM
• 2024-12-12 Listed for Rent $675 BUILDIUM
• 2024-05-31 Rental Removed $600 BUILDIUM
• 2024-05-22 Listed for Rent $600 BUILDIUM
• 2024-01-13 Rental Removed $750 BUILDIUM
• 2023-12-14 Listed for Rent $750 BUILDIUM
• 2023-11-24 Rental Removed $650 BUILDIUM
• 2023-11-06 Listed for Rent $650 BUILDIUM
• 2022-03-06 Price Changed $725 BUILDIUM
• 2014-12-29 Sold (Public Records) $645,200 Public Records
• 2008-07-25 Sold (Public Records) $110,000 Public Records

Property tax history

+7.8%/yr

Latest (2024): $3,909 · +30.1% YoY. Source: county tax records.