302 W Lincoln Ave · Oshkosh, WI 54901

$169,000

2 bd · 2.0 ba · 1,482 sqft · MultiFamily public records · 15 Days on market

Built 1920 2,613 sqft lot Est $160k · 6% over

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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 +28.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.1/10.0
• ARV discount +5.0/15.0
• 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: 2 units. confirmed

Listing remarks

Opportunity is knocking with this versatile upper/lower duplex! Whether you're looking to expand your investment portfolio or take advantage of owner occupancy, this property offers plenty of potential. The lower unit features 3 bedrooms along with a spacious living room, dedicated dining room, and functional kitchen, providing comfortable living space for tenants or an owner occupant. Upstairs, you'll find an efficient 1 bedroom unit with a generously sized living room and kitchen, creating a cozy yet practical layout. Generate rental income from both units, or live in one while letting the other help offset your mortgage. Don't miss your chance!

Key facts

• 2,613 sq ft lot
• Built 1920
• Listed 14 days

Property features AI

Finance

• Other: Listing includes two ranges and two refrigerators; Seller is excluding personal property of seller and tenants
• Financial info: Total taxes listed (amount available in records)

Exterior

• Parking: Outdoor parking
• Utilities: Municipal water; Municipal sewer; Electric service
• Home design: Multi-family duplex; 1.5-story / bi-level building; Estimated total living area range: 1,251–1,500 sq ft
• Construction: Built (year from assessor/public records); Finished below-grade area: 0
• Exterior features: Vinyl exterior; Lot under 1/2 acre (approx. 0.06 acre); Zoned for 2-family/duplex

Interior

• Kitchen: Unit 1: Range and refrigerator included; Unit 2: Range and refrigerator included (kitchen ~12 x 8)
• Bedrooms: Unit 1: 3 bedrooms; Unit 2: 1 bedroom (master ~12 x 8)
• Bathrooms: Unit 1: 1 full bathroom; Unit 2: 1 full bathroom
• Heating & cooling: Electric heat; Heating/cooling noted as 'Other' (see remarks)
• Interior features: Full basement with block and stone construction
• Laundry & utility: One coin-operated washer and one coin-operated dryer onsite

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $169k.

Deal economics

• At list price, monthly cash flow is $527 ($6k/yr) — positive. Per door: $264/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $169k).
• Recommended offer: $166k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.0% 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.
• Zoned schools: Merrill Elementary (math 17% / reading 12%, grade F, #910 of 1,041 statewide, top 88%, 242 students, 76% FRL); Merrill Middle (math 18% / reading 21%, grade F, #347 of 383 statewide, top 92%, 453 students, 62% FRL); North High (math 24% / reading 39%, grade F, #199 of 483 statewide, top 42%, 1,265 students, 52% FRL) — zoned schools average 63% FRL vs 34% district-wide (29 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+5.0%/yr); 82 active listings in the ZIP; 27 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 652 units permitted in Winnebago County in 2024 (333 in 5+ unit buildings).
• This rent runs 43% of the median local income ($62k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 $47k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($166k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $79k; list at $169k implies a 115% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $166,465 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.31% ✓
• Cap rate: 10.04%
• Cash-on-cash: 13.37%
• DSCR: 1.60
• GRM: 6.4

CMA / ARV

• ARV (on-the-fly): $160,056
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
318 Sterling Ave	0.45mi	3/2.0 (+1)	1,553 (+5%)	1mo	$190,000	$122	66
756 Powers St	0.63mi	3/2.0 (+1)	1,452 (-2%)	2mo	$170,000	$117	60
1222 N Main St	0.50mi	2/2.0	1,596 (+8%)	9mo	$160,000	$100	57
1328 N Main St	0.56mi	3/2.0 (+1)	1,620 (+9%)	7mo	$175,000	$108	47
117 E New York Ave	0.48mi	2/2.0	1,302 (-12%)	19mo	$138,000	$106	41

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: 5.7%
• Equity multiple: 1.23×
• Total profit: $10,743
• Equity at exit: $25,198

10-year hold

• IRR: 16.9%
• Equity multiple: 2.52×
• Total profit: $71,982
• Equity at exit: $14,612

Cash invested: $47,320 (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: 12.7×

Monthly cashflow live

• Estimated rent: $2,213 high
• Mortgage (P&I): −$886
• Tax from tax record: −$264 /mo · $3,171/yr
• Insurance: −$70
• HOA: −$0
• Vacancy / Maint / Mgmt: −$465
• Net cashflow: $527

Break-even live

Break-even rent $1,545

Max offer price $169,000

Occupancy floor 71%

Sensitivity live

Price	-10% $623	-5% $575	+0% $527	+5% $480	+10% $432
Rent	-10% $353	-5% $440	+0% $527	+5% $615	+10% $702
Rate	-1.0pp $612	-0.5pp $570	base $527	+0.5pp $484	+1.0pp $439

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,212
Total (2 units)			$2,213

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: $42,250
• Closing costs: $5,070
• Reserves months: —
• Total cash needed: —

Rent comps 27 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
728 Wisconsin St Oshkosh, WI	2.0–3.0	1.0	950	$1,100	$1.16	45d	2	0.16mi
728 Wisconsin St Apt 3 Oshkosh, WI	2.0	1.0	950	$1,100	$1.16	22d	1	0.16mi
825 Wisconsin St Unit 1B Oshkosh, WI	3.0	1.0	1200	$1,199	$1.00	45d	1	0.17mi
919 Wright St Unit A Oshkosh, WI	3.0	1.0	1100	$1,100	$1.00	45d	1	0.19mi
650 N Main St Oshkosh, WI	1.0–3.0	1.0–2.0	925	$1,524	$1.65	22d	12	0.26mi
512 Algoma Blvd Unit 212 Oshkosh, WI	2.0	1.0	900	$999	$1.11	15d	1	0.37mi
306 Wisconsin St Oshkosh, WI	3.0	1.0	1500	$1,500	$1.00	45d	1	0.42mi
319 E Irving Ave Oshkosh, WI	3.0	1.5	1384	$1,250	$0.90	45d	1	0.47mi
622 Grand St Oshkosh, WI	2.0	1.0	900	$895	$0.99	45d	1	0.56mi
95 Dawes St Oshkosh, WI	3.0	2.0	1520	$1,650	$1.09	45d	1	0.57mi
155 Jackson St Oshkosh, WI	2.0	1.0–2.0	716	$1,775	$2.48	22d	8	0.62mi
417 Marion Rd Oshkosh, WI	1.0–2.0	1.0–2.0	778	$2,500	$3.21	15d	10	0.75mi
100 N Main St Oshkosh, WI	2.0	2.0	1100	$1,495	$1.36	15d	1	0.83mi
548 Bowen St Oshkosh, WI	2.0	1.0	900	$850	$0.94	15d	1	0.84mi
513 Evans St Unit 1514469P Oshkosh, WI	3.0	1.5	1270	$2,909	$2.29	22d	1	0.91mi
830 Stillwell Ave Unit 828 Oshkosh, WI	3.0	1.5	960	$1,299	$1.35	22d	1	0.98mi
405 Michigan St Unit 1061622P Oshkosh, WI	2.0	1.0	1097	$2,526	$2.30	22d	1	0.99mi
1120 E Parkway Ave Oshkosh, WI	2.0	2.0	950	$1,195	$1.26	15d	1	1.01mi
532 W 5th Ave Oshkosh, WI	2.0	1.0	1120	$2,495	$2.23	45d	1	1.05mi
212 W 8th Ave Oshkosh, WI	2.0	1.0	1100	$1,099	$1.00	22d	1	1.09mi
106 W 9th Ave Oshkosh, WI	2.0	1.0	900	$995	$1.11	45d	1	1.13mi
835 Waugoo Ave Unit A Oshkosh, WI	2.0	1.0	1000	$995	$0.99	45d	1	1.14mi
1525 Arboretum Dr Unit D Oshkosh, WI	2.0	2.0	1150	$1,475	$1.28	15d	1	1.17mi
1860 Evans St #3 Oshkosh, WI	2.0	1.0	875	$950	$1.09	15d	1	1.26mi
2001 Evans St Oshkosh, WI	3.0	1.5	900	$1,399	$1.55	22d	2	1.28mi
1119 S Main St Unit 1121 Oshkosh, WI	3.0	1.0	1066	$1,250	$1.17	22d	1	1.34mi
904 W 8th Ave Oshkosh, WI	3.0	1.0	1759	$1,600	$0.91	15d	1	1.42mi

Listing history 12 events

1. 2026-06-19
   days on market $169,000 Active 15 DOM
2. 2026-06-18
   days on market $169,000 Active 14 DOM
3. 2026-06-17
   days on market $169,000 Active 13 DOM
4. 2026-06-16
   days on market $169,000 Active 12 DOM
5. 2026-06-15
   days on market $169,000 Active 11 DOM
6. 2026-06-14
   days on market $169,000 Active 9 DOM
7. 2026-06-13
   days on market $169,000 Active 8 DOM
8. 2026-06-10
   days on market $169,000 Active 6 DOM
9. 2026-06-09
   days on market $169,000 Active 5 DOM
10. 2026-06-08
    days on market $169,000 Active 4 DOM
11. 2026-06-07
    remarks 655-char remark
12. 2026-06-07
    listed $169,000 Active 3 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: $3,171 · $264/mo
• Projected year-2 tax: $3,171 · $264/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 3/10 Moderate FEMA zone X (unshaded) · 20% 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: $26,556
• − Mortgage interest: −$9,467
• − Property taxes: −$3,171
• − Insurance: −$845
• − Repairs & maintenance: −$2,124
• − Management: −$2,124
• − Depreciation: −$4,916
• Taxable income: $3,908
• Est. tax owed @ 24.0%: −$938
• After-tax cash flow: $5,391/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

+115.0% since first listed

2 events — show timeline

• 2026-06-04 Listed $169,000 RANW
• 2004-05-06 Sold (Public Records) $78,600 Public Records

Property tax history

+1.7%/yr

Latest (2024): $3,171 · +12.9% YoY. Source: county tax records.