45 Eveline St · Oshkosh, WI 54901

$219,900

3 bd · 2.0 ba · 1,581 sqft · MultiFamily public records · 50 Days on market

Built 1864 7,405 sqft lot

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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 +24.4/30.0
• DSCR +7.9/10.0
• ARV discount +7.5/15.0
• 1% rule +6.8/10.0
• 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: 1 unit. estimate disagrees with records

Listing remarks

This 1.5 story home checks all the boxes! Step inside & fall in love with the tall ceilings that make the main level feel bright, open, & inviting. The beautifully updated kitchen is a true standout, featuring modern finishes & a large walk-in pantry that?s perfect for keeping everything organized. With 3 bedrooms & 2 full baths, there?s room for everyone, including a spacious primary bedroom that feels like your own private retreat. Upstairs offers an additional space for an office/craft room along with a 2nd living room! And talk about peace of mind. .. major updates have already been taken care of in last couple yrs, including windows, roof, siding, HVAC, Large 20x

Key facts

• Tall ceilings
• Updated kitchen
• Major updates

Tags

• TALL CEILINGS
• UPDATED KITCHEN
• LARGE WALK-IN PANTRY
• ADDITIONAL SPACE FOR OFFICE
• 2ND LIVING ROOM
• MAJOR UPDATES

Property features AI

Finance

• Other: Inclusions: Range, refrigerator, washer and dryer; Exclusions: Seller's personal property; kitchen island negotiable

Exterior

• Utilities: Municipal water; Municipal sewer
• Home design: 1.5-story single-family home; Construction completed; Residential zoning
• Construction: Approximately 1,581 finished above-grade square feet; Finished below grade: 0
• Exterior features: Vinyl exterior; Sidewalks; Storage shed (outbuilding)

Interior

• Kitchen: Kitchen on main level, approximately 17 x 11; Range/Oven; Refrigerator
• Bedrooms: Master bedroom on main level, approximately 15 x 13; Bedroom 2 on main level, approximately 11 x 9; Bedroom 3 on upper level, approximately 13 x 7
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air; Forced air; Radiant heat; Natural gas heat source
• Interior features: Pantry; Basement with 8'+ ceiling, full height, stone finish; Bonus room (over garage)
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $220k.

Deal economics

• At list price, monthly cash flow is $448 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $220k).
• Recommended offer: $213k (3.0% 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; 13 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 $2,588/mo this rent would consume 50% 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 $7k 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 $62k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 50 days — a 3% lower offer ($213k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $77k; list at $220k implies a 186% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1864 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $213,303 (3.0% below list)

Questions for the listing agent

1. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1864 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.18% ✓
• Cap rate: 8.74%
• Cash-on-cash: 8.73%
• DSCR: 1.39
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $131,223
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
538 Ceape Ave	0.58mi	3/2.0	1,608 (+2%)	4mo	$30,000	$19	66
508 Ceape Ave	0.63mi	3/2.0	1,800 (+14%)	10mo	$175,000	$97	39
348 Bay St	0.65mi	3/2.0	1,756 (+11%)	20mo	$144,900	$83	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: -0.8%
• Equity multiple: 0.97×
• Total profit: $-1,791
• Equity at exit: $32,788

10-year hold

• IRR: 11.0%
• Equity multiple: 1.94×
• Total profit: $57,867
• Equity at exit: $19,013

Cash invested: $61,572 (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 54901

• Rents YoY: 5.0%
• Active inventory: 82
• Price-to-rent: 14.2×

Monthly cashflow live

• Estimated rent: $2,588 high
• Mortgage (P&I): −$1,153
• Tax from tax record: −$352 /mo · $4,222/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$543
• Net cashflow: $448

Break-even live

Break-even rent $2,021

Max offer price $219,900

Occupancy floor 78%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1.5	$2,588
Total (2 units)			$2,588

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: $54,975
• Closing costs: $6,597
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1113 Harney Ave Unit 1061625P Oshkosh, WI	3.0	2.0	1991	$3,154	$1.58	13d	1	0.18mi
513 Evans St Unit 1514469P Oshkosh, WI	3.0	1.5	1270	$2,909	$2.29	21d	1	0.75mi
1119 S Main St Unit 1121 Oshkosh, WI	3.0	1.0	1066	$1,250	$1.17	21d	1	0.88mi
100 N Main St Oshkosh, WI	2.0	2.0	1100	$1,495	$1.36	13d	1	0.89mi
212 W 8th Ave Oshkosh, WI	2.0	1.0	1100	$1,099	$1.00	21d	1	1.09mi
319 E Irving Ave Oshkosh, WI	3.0	1.5	1384	$1,250	$0.90	43d	1	1.18mi
1745 Oregon St Oshkosh, WI	1.0–3.0	1.0–2.0	1079	$1,491	$1.38	13d	6	1.32mi
650 N Main St Oshkosh, WI	1.0–3.0	1.0–2.0	925	$1,760	$1.90	21d	12	1.33mi
95 Dawes St Oshkosh, WI	3.0	2.0	1520	$1,650	$1.09	43d	1	1.40mi
500 Marion Rd Unit F204 Oshkosh, WI	4.0	2.0	1528	$2,000	$1.31	21d	1	1.44mi
685 Franklin St Unit B Oshkosh, WI	4.0	2.0	1721	$1,700	$0.99	21d	1	1.44mi
416 W 17th Ave Unit 416 Oshkosh, WI	3.0	1.5	1100	$1,450	$1.32	43d	1	1.48mi
405 Michigan St Unit 1061622P Oshkosh, WI	2.0	1.0	1097	$2,526	$2.30	21d	1	1.48mi

Listing history 4 events

1. 2026-05-21
   status Pending
2. 2026-04-03
   historical Active w/ Contract
3. 2026-04-01
   listed $219,900 Active
4. 2017-09-25
   soldstatus $76,800

ⓘ 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: $4,222 · $352/mo
• Projected year-2 tax: $4,222 · $352/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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: $31,056
• − Mortgage interest: −$12,318
• − Property taxes: −$4,222
• − Insurance: −$1,100
• − Repairs & maintenance: −$2,484
• − Management: −$2,484
• − Depreciation: −$6,397
• Taxable income: $2,051
• Est. tax owed @ 24.0%: −$492
• After-tax cash flow: $4,882/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

+186.3% since first listed

4 events — show timeline

• 2026-05-21 Pending — RANW
• 2026-04-03 Contingent — RANW
• 2026-04-01 Listed $219,900 RANW
• 2017-09-25 Sold (Public Records) $76,800 Public Records

Property tax history

+8.1%/yr

Latest (2024): $4,222 · +44.8% YoY. Source: county tax records.