556 Jefferson St · Oshkosh, WI 54901

$598,500

None bd · None ba · 4,681 sqft · MultiFamily public records · 86 Days on market

Built 1884 10,454 sqft lot $128/sqft · 102% 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 +27.3/30.0
• DSCR +9.5/10.0
• ARV discount +7.5/15.0
• 1% rule +6.7/10.0
• 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 (5+ Unit). Listing-text estimate: 7 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Well-maintained 7-unit investment property in Oshkosh featuring a strong unit mix of (6) 1-bedroom/1-bath units and (1) studio. Property offers a hot water heating system and has seen recent updates including new flooring in the common areas and in the main-level studio unit. Additional features include a 3-car garage, providing added tenant convenience. Functional layout makes this a great addition to any portfolio. Convenient location near local amenities, shopping, and public transportation. Solid rental opportunity with upside potential.

Key facts

• 3-car garage
• New flooring
• Convenient location

Tags

• HOT WATER HEATING SYSTEM
• NEW FLOORING
• 3-CAR GARAGE
• CONVENIENT LOCATION

What this means for you Summary

Snapshot

• This is a 6×1bd/1ba + 1×?bd/1ba units multifamily listed at $598k.

Deal economics

• At list price, monthly cash flow is $2k ($21k/yr) — positive. Per door: $248/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $598k).
• Recommended offer: $563k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.8% 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; 652 units permitted in Winnebago County in 2024 (333 in 5+ unit buildings).
• At $6,998/mo this rent would consume 136% 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 $4k of loan paydown is wiped out by about $18k 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 $168k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 86 days — a 6% lower offer ($563k) 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.
• Current owner paid $155k; list at $598k implies a 286% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1884 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $562,590 (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 1884 — 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: 1.17% ✓
• Cap rate: 9.77%
• Cash-on-cash: 12.41%
• DSCR: 1.55
• GRM: 7.1

CMA / ARV

• ARV (median comp): $300,185
• List price: $598,500
• Delta: 99.38%
• Verdict: OVERPRICED
• Comps: 12 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.97% rent growth · sell at horizon

5-year hold

• IRR: 4.1%
• Equity multiple: 1.16×
• Total profit: $27,408
• Equity at exit: $89,238

10-year hold

• IRR: 15.3%
• Equity multiple: 2.35×
• Total profit: $225,963
• Equity at exit: $51,747

Cash invested: $167,580 (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: 49.8×

Monthly cashflow live

• Estimated rent: $6,998 high
• Mortgage (P&I): −$3,139
• Tax from tax record: −$408 /mo · $4,894/yr
• Insurance: −$249
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,470
• Net cashflow: $1,733

Break-even live

Break-even rent $4,805

Max offer price $598,500

Occupancy floor 70%

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

Units	Beds	Baths	Est. rent
▸ 6× units	1	1	$6,012
1× unit	0	1	$985
Total (7 units)			$6,998

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: $149,625
• Closing costs: $17,955
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-19
   days on market $598,500 Active 86 DOM
2. 2026-06-18
   days on market $598,500 Active 85 DOM
3. 2026-06-17
   days on market $598,500 Active 84 DOM
4. 2026-06-16
   days on market $598,500 Active 83 DOM
5. 2026-06-15
   days on market $598,500 Active 82 DOM
6. 2026-06-14
   days on market $598,500 Active 80 DOM
7. 2026-06-13
   days on market $598,500 Active 79 DOM
8. 2026-06-10
   days on market $598,500 Active 77 DOM
9. 2026-06-09
   days on market $598,500 Active 76 DOM
10. 2026-06-08
    days on market $598,500 Active 75 DOM
11. 2026-06-07
    days on market $598,500 Active 74 DOM
12. 2026-06-02
    days on market $598,500 Active 69 DOM
13. 2026-06-01
    days on market $598,500 Active 68 DOM
14. 2026-05-31
    days on market $598,500 Active 67 DOM
15. 2026-05-30
    days on market $598,500 Active 66 DOM
16. 2026-04-28
    price $598,500 547-char remark

    Show marketing remark (547 chars)

    Well-maintained 7-unit investment property in Oshkosh featuring a strong unit mix of (6) 1-bedroom/1-bath units and (1) studio. Property offers a hot water heating system and has seen recent updates including new flooring in the common areas and in the main-level studio unit. Additional features include a 3-car garage, providing added tenant convenience. Functional layout makes this a great addition to any portfolio. Convenient location near local amenities, shopping, and public transportation. Solid rental opportunity with upside potential.

17. 2026-03-15
    listed $600,000 Active 547-char remark

    Show marketing remark (547 chars)

    Well-maintained 7-unit investment property in Oshkosh featuring a strong unit mix of (6) 1-bedroom/1-bath units and (1) studio. Property offers a hot water heating system and has seen recent updates including new flooring in the common areas and in the main-level studio unit. Additional features include a 3-car garage, providing added tenant convenience. Functional layout makes this a great addition to any portfolio. Convenient location near local amenities, shopping, and public transportation. Solid rental opportunity with upside potential.

18. 2025-03-04
    historical $640
19. 2025-03-04
    listed $640
20. 2012-04-10
    soldstatus $155,000
21. 2010-02-04
    soldstatus $153,000
22. 2004-01-06
    soldstatus $157,000

ⓘ 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: $4,894 · $408/mo
• Projected year-2 tax: $7,983 · $665/mo
• Expected delta: +$3,089/yr (+$257/mo · 63.1%)

ⓘ 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: $83,976
• − Mortgage interest: −$33,525
• − Property taxes: −$4,894
• − Insurance: −$2,992
• − Repairs & maintenance: −$6,718
• − Management: −$6,718
• − Depreciation: −$17,411
• Taxable income: $11,717
• Est. tax owed @ 24.0%: −$2,812
• After-tax cash flow: $17,979/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

+281.2% since first listed

7 events — show timeline

• 2026-04-28 Price Changed $598,500 RANW
• 2026-03-15 Listed $600,000 RANW
• 2025-03-04 Rental Removed $640 LEASESTAR
• 2025-03-04 Listed for Rent $640 LEASESTAR
• 2012-04-10 Sold (Public Records) $155,000 Public Records
• 2010-02-04 Sold (Public Records) $153,000 Public Records
• 2004-01-06 Sold (Public Records) $157,000 Public Records

Property tax history

+0.7%/yr

Latest (2024): $4,894 · -11.5% YoY. Source: county tax records.