1513 Indigo Dr

Oshkosh, WI 54902

$96,000B

3 bd · 2.0 ba · 1,280 sqft · Built 2003 · SingleFamily · Pending · 62 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,531/mo
• Mortgage (P&I): −$503
• Tax + insurance: −$160
• HOA: −$0
• Vac / Maint / Mgmt: −$322
• Net cashflow: $546/mo
• Annual: $6,554/yr
• Cap rate: 13.12%
• Cash-on-cash: 24.38%
• DSCR: 2.08
• 1% rule: 1.59%
• Cash to close: $26,880

Investor read

• This is a 3-bed/2.0-bath single-family listed at $96k. Condition is rated good.
• At list price, monthly cash flow is $546 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $96k).
• It's been on market 62 days — a 6% lower offer ($90k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $90k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $664 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• 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: Shapiro Stem Academy (math 42% / reading 27%, grade F, #610 of 1,041 statewide, top 63%, 202 students, 48% FRL); South Park Middle (math 21% / reading 26%, grade F, #327 of 383 statewide, top 86%, 327 students, 46% FRL); West High (math 41% / reading 52%, grade D-, #55 of 483 statewide, top 11%, 1,627 students, 29% FRL).
• Market conditions: Rents rising (+2.6%/yr); 44 active listings in the ZIP; 11 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).
• 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 + 2.6% rent growth), your $27k cash investment doubles in ~6 years — after that, you're playing with house money.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 13.1% 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.

Questions for listing agent

• It's been on market 62 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.
• How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.