101 W Arndt St · Fond du Lac, WI 54935

$164,900

4 bd · 2.0 ba · 2,168 sqft · Other · 115 Days on market

Built 1900 3,484 sqft lot $76/sqft · 6% below area Est $176k · 6% under ↓ 3% since listing

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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 +20.5/30.0
• ARV discount +10.3/15.0
• DSCR +6.5/10.0
• 1% rule +5.3/10.0
• Rent growth +5.0/5.0
• Livability +3.7/5.0
• Schools +2.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

GREAT UPPER AND LOWER DUPLEX! Bright and cheery up-and-down duplex featuring a spacious 3 bedroom, 1 bath lower unit and a 2 bedroom, 1 bath upper unit, offering excellent rental income potential. Both units feature comfortable layouts with plenty of natural light, creating inviting living spaces tenants will appreciate. Tenants pay their own gas and electric, while the landlord pays water, helping keep expenses manageable. Conveniently located near Main Street, Walgreens, and other amenities, offering easy access to everyday living?an ideal location for tenant appeal. This property presents a great investment opportunity whether you're looking to expand your portfolio or just getting started.

Key facts

• Natural light
• 3,484 sq ft lot
• Built 1900

Tags

• UPPER AND LOWER DUPLEX
• NATURAL LIGHT
• GREAT INVESTMENT OPPORTUNITY

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath other listed at $165k.

Deal economics

• At list price, monthly cash flow is $162 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Recommended offer: $150k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.9% vs local median 2.6% in Fond du Lac — 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 74/100 on livability (#170 in WI, #4,627 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools C-, employment C-, crime D.
• Fond Du Lac School District (urban): math 34% / reading 31% proficiency, ranked #255 of 342 in WI (top 75%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+11.2%/yr); 155 active listings in the ZIP; 154 units permitted in Fond du Lac County in 2024 (0 in 5+ unit buildings).
• This rent runs 32% of the median local income ($63k/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.
• Fond du Lac County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $46k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 115 days — a 9% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y ago 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $150,059 (9.0% below list)

Questions for the listing agent

1. It's been on market 115 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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 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.

Investment metrics

• 1% rule: 1.03% ✓
• Cap rate: 7.88%
• Cash-on-cash: 5.66%
• DSCR: 1.25
• GRM: 8.1

CMA / ARV

• ARV (median comp): $175,706
• List price: $164,900
• Delta: -6.15%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -4.1%
• Equity multiple: 0.84×
• Total profit: $-7,381
• Equity at exit: $24,587

10-year hold

• IRR: 10.8%
• Equity multiple: 2.04×
• Total profit: $47,886
• Equity at exit: $14,258

Cash invested: $46,172 (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 54935

• Rents YoY: 11.2%
• Active inventory: 155
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,697 medium
• Mortgage (P&I): −$865
• Tax from tax record: −$190 /mo · $2,276/yr
• Insurance: −$69
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$356
• Net cashflow: $162

Break-even live

Break-even rent $1,492

Max offer price $164,900

Occupancy floor 85%

Sensitivity live

Price	-10% $255	-5% $209	+0% $162	+5% $115	+10% $69
Rent	-10% $28	-5% $95	+0% $162	+5% $229	+10% $296
Rate	-1.0pp $245	-0.5pp $204	base $162	+0.5pp $119	+1.0pp $76

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: $41,225
• Closing costs: $4,947
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-19
   days on market $164,900 Active 115 DOM
2. 2026-06-18
   days on market $164,900 Active 114 DOM
3. 2026-06-17
   days on market $164,900 Active 113 DOM
4. 2026-06-16
   days on market $164,900 Active 112 DOM
5. 2026-06-15
   days on market $164,900 Active 111 DOM
6. 2026-06-14
   days on market $164,900 Active 109 DOM
7. 2026-06-12
   days on market $164,900 Active 108 DOM
8. 2026-06-09
   days on market $164,900 Active 105 DOM
9. 2026-06-08
   days on market $164,900 Active 104 DOM
10. 2026-06-07
    days on market $164,900 Active 103 DOM
11. 2026-06-05
    days on market $164,900 Active 100 DOM
12. 2026-06-03
    days on market $164,900 Active 99 DOM
13. 2026-06-02
    days on market $164,900 Active 98 DOM
14. 2026-06-01
    days on market $164,900 Active 97 DOM
15. 2026-05-31
    days on market $164,900 Active 96 DOM
16. 2026-05-30
    days on market $164,900 Active 95 DOM
17. 2026-04-23
    price $164,900 703-char remark

    Show marketing remark (703 chars)

    GREAT UPPER AND LOWER DUPLEX! Bright and cheery up-and-down duplex featuring a spacious 3 bedroom, 1 bath lower unit and a 2 bedroom, 1 bath upper unit, offering excellent rental income potential. Both units feature comfortable layouts with plenty of natural light, creating inviting living spaces tenants will appreciate. Tenants pay their own gas and electric, while the landlord pays water, helping keep expenses manageable. Conveniently located near Main Street, Walgreens, and other amenities, offering easy access to everyday living?an ideal location for tenant appeal. This property presents a great investment opportunity whether you're looking to expand your portfolio or just getting started.

18. 2026-02-24
    listed $169,900 Active 703-char remark

    Show marketing remark (703 chars)

    GREAT UPPER AND LOWER DUPLEX! Bright and cheery up-and-down duplex featuring a spacious 3 bedroom, 1 bath lower unit and a 2 bedroom, 1 bath upper unit, offering excellent rental income potential. Both units feature comfortable layouts with plenty of natural light, creating inviting living spaces tenants will appreciate. Tenants pay their own gas and electric, while the landlord pays water, helping keep expenses manageable. Conveniently located near Main Street, Walgreens, and other amenities, offering easy access to everyday living?an ideal location for tenant appeal. This property presents a great investment opportunity whether you're looking to expand your portfolio or just getting started.

19. 2025-08-31
    historical $800
20. 2025-08-02
    listed $800
21. 2023-09-25
    historical $750
22. 2023-09-15
    listed $750

ⓘ 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: $2,276 · $190/mo
• Projected year-2 tax: $2,663 · $222/mo
• Expected delta: +$388/yr (+$32/mo · 17.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (shaded) · 99% 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: $20,365
• − Mortgage interest: −$9,237
• − Property taxes: −$2,276
• − Insurance: −$1,491
• − Repairs & maintenance: −$1,629
• − Management: −$1,629
• − Depreciation: −$4,797
• Taxable loss: −$694
• Est. tax savings @ 24.0%: +$167
• After-tax cash flow: $2,111/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: Fond Du Lac School District
• NCES district ID: 5504680
• Math proficiency: 34% ▼ -8.00%
• Reading proficiency: 31% ▼ -6.00%
• Median HH income: $50,125
• Composite: 28.31/100
• National rank: #6786
• State rank: #255 of 342 in WI

Livability — Fond du Lac

• Score: 74/100
• State rank: #170
• US rank: #4627

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fond du Lac, WI
• County: Fond du Lac County · 41,613 people
• City population: 41,613
• Metro: Fond du Lac, WI
• Population (ZIP): 41,613
• Household income: $63,144
• Rent vs Own: 40.5% rent · 59.5% own
• Severe rent burden: 1157.0

Population outlook (Fond du Lac County) Hauer SSP2

• Today (2025): 102,433 people
• By 2030: 101,594 · -0.8%
• By 2040: 98,503 · -3.8%
• By 2050: 95,039 · -7.2%
• By 2075: 90,551 · -11.6%
• By 2100: 87,819 · -14.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Hispanic / Latino 9% Two or more races 6% Asian 3% Black 3%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Romanian 5% Lithuanian 4% Portuguese 3%
• Foreign-born: 5% · Canada, China
• Languages at home: 92% English-only · Spanish 5% Chinese 1% Other Asian/Pacific 1%

Political lean MEDSL · Fond du Lac

• 2024 margin: Strong R (+28.7) · D 35.1% · R 63.8% · Other 1.1%
• 2008→2024 swing: -19.7pp toward R · 2008: -9.0pp · 2024: -28.7pp
• All cycles: 2024: R+28.7 2020: R+26.5 2016: R+26.7 2012: R+15.0 2008: R+9.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -178.76%
• Current HPI: 205.5097
• Rent YoY: ▲ 11.15%
• Metro: Fond du Lac, 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

-2.9% since first listed

6 events — show timeline

• 2026-04-23 Price Changed $164,900 RANW
• 2026-02-24 Listed $169,900 RANW
• 2025-08-31 Rental Removed $800 BUILDIUM
• 2025-08-02 Listed for Rent $800 BUILDIUM
• 2023-09-25 Rental Removed $750 BUILDIUM
• 2023-09-15 Listed for Rent $750 BUILDIUM

Property tax history

+1.5%/yr

Latest (2025): $2,276 · +3.7% YoY. Source: county tax records.