The Emerson Twin Home Plan · Oregon, WI 53575

$388,400

3 bd · 2.5 ba · 1,486 sqft · MultiFamily · 128 Days on market

Good condition

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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 +21.0/30.0
• ARV discount +7.5/15.0
• DSCR +6.7/10.0
• 1% rule +5.5/10.0
• Schools +4.0/10.0
• Livability +4.0/5.0
• Condition / age +4.0/5.0
• Rent growth +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 MLS

Welcome to easy living, like you've never thought possible. The type that's both laid-back and sophisticated. This smart layout makes use of every inch, offering standard features like a breakfast bar, kitchen pantry and first floor laundry. You'll welcome guests to hang around a little while longer in the cozy third bedroom, although they will likely envy your own little piece of heaven that is the owner's suite. All prices, promotions and specifications are subject to change at any time without notice based on the discretion of Veridian Homes.

Key facts

• Kitchen pantry
• First floor laundry
• Owner's suite

Tags

• BREAKFAST BAR
• KITCHEN PANTRY
• FIRST FLOOR LAUNDRY
• OWNER'S SUITE

🏗️ New construction. Builder plan / spec listing (the home may be to-be-built); metrics use comparable previous sales.

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath multifamily listed at $388k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $549 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $388k).
• Recommended offer: $342k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.0% vs local median 2.3% in Oregon — 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 (#67 in WI, #1,788 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F.
• Oregon School District (town): math 42% / reading 45% proficiency, ranked #80 of 342 in WI (top 23%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 15% free/reduced lunch — higher-income household profile.
• Market conditions: 100 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 5,519 units permitted in Dane County in 2024 (3,978 in 5+ unit buildings).
• At $4,092/mo this rent would consume 46% of the median local household income ($108k/yr) (locally 400% 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 $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• Dane County population projected at +35% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 128 days — a 12% lower offer ($342k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Recommended offer $341,792 (12.0% below list)

Questions for the listing agent

1. It's been on market 128 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. 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.
6. 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.
7. 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: 1.05% ✓
• Cap rate: 7.99%
• Cash-on-cash: 6.05%
• DSCR: 1.27
• GRM: 7.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -6.9%
• Equity multiple: 0.74×
• Total profit: $-27,939
• Equity at exit: $57,912

10-year hold

• IRR: 2.7%
• Equity multiple: 1.19×
• Total profit: $20,908
• Equity at exit: $33,582

Cash invested: $108,752 (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 53575

• Active inventory: 100
• Price-to-rent: 24.4×

Monthly cashflow live

• Estimated rent: $4,092 medium
• Mortgage (P&I): −$2,037
• Tax est. 1.5%: −$486 /mo · $5,826/yr
• Insurance: −$162
• HOA: −$0
• Vacancy / Maint / Mgmt: −$859
• Net cashflow: $549

Break-even live

Break-even rent $3,398

Max offer price $388,400

Occupancy floor 82%

Sensitivity live

Price	-10% $817	-5% $683	+0% $549	+5% $414	+10% $280
Rent	-10% $225	-5% $387	+0% $549	+5% $710	+10% $872
Rate	-1.0pp $744	-0.5pp $647	base $549	+0.5pp $448	+1.0pp $346

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

Units	Beds	Baths	Est. rent
▸ 2× units	1	1	$2,650
1× unit	2	1	$1,443
Total (3 units)			$4,092

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: $97,100
• Closing costs: $11,652
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
880 N Main St Unit 880-304 Oregon, WI	2.0	2.0	1078	$1,695	$1.57	22d	1	0.19mi
880 N Main St Oregon, WI	2.0	1.0–2.0	811	$1,695	$2.09	15d	3	0.19mi
130 E Richards Rd Unit 5 Oregon, WI	2.0	1.0	900	$1,030	$1.14	44d	1	0.22mi

Listing history 6 events

1. 2026-06-18
   days on market $388,400 Active 128 DOM
2. 2026-06-17
   days on market $388,400 Active 127 DOM
3. 2026-06-16
   days on market $388,400 Active 126 DOM
4. 2026-04-25
   status Active 551-char remark

   Show marketing remark (551 chars)

   Welcome to easy living, like you've never thought possible. The type that's both laid-back and sophisticated. This smart layout makes use of every inch, offering standard features like a breakfast bar, kitchen pantry and first floor laundry. You'll welcome guests to hang around a little while longer in the cozy third bedroom, although they will likely envy your own little piece of heaven that is the owner's suite. All prices, promotions and specifications are subject to change at any time without notice based on the discretion of Veridian Homes.

5. 2026-02-06
   historical 551-char remark

   Show marketing remark (551 chars)

   Welcome to easy living, like you've never thought possible. The type that's both laid-back and sophisticated. This smart layout makes use of every inch, offering standard features like a breakfast bar, kitchen pantry and first floor laundry. You'll welcome guests to hang around a little while longer in the cozy third bedroom, although they will likely envy your own little piece of heaven that is the owner's suite. All prices, promotions and specifications are subject to change at any time without notice based on the discretion of Veridian Homes.

6. 2025-11-06
   listed $388,400 Active 551-char remark

   Show marketing remark (551 chars)

   Welcome to easy living, like you've never thought possible. The type that's both laid-back and sophisticated. This smart layout makes use of every inch, offering standard features like a breakfast bar, kitchen pantry and first floor laundry. You'll welcome guests to hang around a little while longer in the cozy third bedroom, although they will likely envy your own little piece of heaven that is the owner's suite. All prices, promotions and specifications are subject to change at any time without notice based on the discretion of Veridian Homes.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $49,104
• − Mortgage interest: −$21,756
• − Property taxes: −$5,826
• − Insurance: −$1,942
• − Repairs & maintenance: −$3,928
• − Management: −$3,928
• − Depreciation: −$11,299
• Taxable income: $424
• Est. tax owed @ 24.0%: −$102
• After-tax cash flow: $6,481/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.

Condition & rehab AI · 12 photos

Good 80/100 None rehab

This multi-family home is in excellent condition with modern amenities and a well-maintained exterior. It is ready for immediate occupancy and can be further enhanced with minor updates to boost its value.

Value-add opportunities

• Both Painting exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics.
• Both Landscaping improvements — Enhanced landscaping can improve curb appeal and attract potential buyers/tenants.
• Resale Kitchen appliances — Modern appliances can appeal to buyers looking for a turnkey home.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics. ↑
• Both Landscaping improvements — Enhanced landscaping can improve curb appeal and attract potential buyers/tenants. ↑
• Resale Kitchen appliances — Modern appliances can appeal to buyers looking for a turnkey home. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Oregon School District
• NCES district ID: 5511100
• Math proficiency: 42% ▼ -12.00%
• Reading proficiency: 45% ▼ -7.00%
• Median HH income: $79,972
• Composite: 40.25/100
• National rank: #3770
• State rank: #80 of 342 in WI

Livability — Oregon

• Score: 80/100
• State rank: #67
• US rank: #1788

Category grades

Amenities F Commute F Cost of living B- Crime A+ Employment A+ Housing A+ Health & safety A+ User ratings A-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Oregon, WI
• County: Dane County · 506,461 people
• City population: 18,204
• Metro: Madison, WI
• Population (ZIP): 18,204
• Household income: $107,885
• Rent vs Own: 20.5% rent · 79.5% own
• Severe rent burden: 400.0

Population outlook (Dane County) Hauer SSP2

• Today (2025): 610,707 people
• By 2030: 654,875 · +7.2%
• By 2040: 740,480 · +21.2%
• By 2050: 826,188 · +35.3%
• By 2075: 1,040,574 · +70.4%
• By 2100: 1,168,084 · +91.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Black 6% Asian 3% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Portuguese 13% Romanian 4% Italian 2%
• Foreign-born: 6% · Canada, China
• Languages at home: 94% English-only · Spanish 2% Other Asian/Pacific 2% Other Indo-European 1%

Political lean MEDSL · Dane

• 2024 margin: Solid D (+51.7) · D 75.1% · R 23.4% · Other 1.5%
• 2008→2024 swing: +4.7pp toward D · 2008: 47.0pp · 2024: 51.7pp
• All cycles: 2024: D+51.7 2020: D+52.6 2016: D+48.0 2012: D+43.6 2008: D+47.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -371.09%
• Current HPI: 273.8933
• Rent YoY: —
• Metro: Madison, 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

3 events — show timeline

• 2026-04-25 Relisted — Zillow
• 2026-02-06 Delisted — Zillow
• 2025-11-06 Listed $388,400 Zillow