216 E Fond Du Lac St · Ripon, WI 54971

$153,000

5 bd · 2.0 ba · 1,344 sqft · Other · 296 Days on market

Built 1923 10,454 sqft lot $114/sqft · 22% below area Est $197k · 22% under

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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 +16.8/30.0
• ARV discount +15.0/15.0
• DSCR +5.2/10.0
• 1% rule +4.5/10.0
• Schools +4.2/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Commercial-Zoned in Prime Downtown Location! This charmer sits in a high-traffic, commercially zoned area just steps from downtown. Currently a single-family residence, it could easily be converted into a two-family with a bit of vision. Freshly painted on the outside, it retains beautiful original woodwork and features enclosed front and back porches with beadboard ceilings and abundant windows. Inside, you?ll find a mix of updates and vintage finishes waiting for your creative touch. A full unfinished basement could be great storage, and the fenced yard adds usable outdoor room. With its versatile zoning and solid bones, this property is ready for someone to roll up their sleeves and bring out its full potential. A rare opportunity for live/work, investment, or savvy renovation project.

Key facts

• Fenced yard
• Commercial zoned
• Original woodwork

Tags

• COMMERCIAL ZONED
• PRIME DOWNTOWN LOCATION
• ORIGINAL WOODWORK
• FENCED YARD
• FULL UNFINISHED BASEMENT

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath other listed at $153k.

Deal economics

• At list price, monthly cash flow is $99 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $146k (4.7% below list).
• Recommended offer: $135k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.1% vs local median 2.1% in Ripon — 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 84/100 on livability (#35 in WI, #719 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: commute F.
• Ripon Area School District (town): math 49% / reading 50% proficiency, ranked #57 of 342 in WI (top 17%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 71 active listings in the ZIP; 154 units permitted in Fond du Lac County in 2024 (0 in 5+ unit buildings).

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.

Negotiation context

• It's been on market 296 days — a 12% lower offer ($135k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $70k; list at $153k implies a 119% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1923 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $134,640 (12.0% below list)

Questions for the listing agent

1. It's been on market 296 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1923 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-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?
6. 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.
7. 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.
8. 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: 0.95% ✗
• Cap rate: 7.07%
• Cash-on-cash: 2.76%
• DSCR: 1.12
• GRM: 8.7

CMA / ARV

• ARV (median comp): $196,995
• List price: $153,000
• Delta: -22.33%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -11.9%
• Equity multiple: 0.57×
• Total profit: $-18,488
• Equity at exit: $22,813

10-year hold

• IRR: -2.7%
• Equity multiple: 0.81×
• Total profit: $-7,927
• Equity at exit: $13,229

Cash invested: $42,840 (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 54971

• Active inventory: 71
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,458 medium
• Mortgage (P&I): −$802
• Tax from tax record: −$187 /mo · $2,248/yr
• Insurance: −$64
• HOA: −$0
• Vacancy / Maint / Mgmt: −$306
• Net cashflow: $99

Break-even live

Break-even rent $1,333

Max offer price $153,000

Occupancy floor 88%

Sensitivity live

Price	-10% $185	-5% $142	+0% $99	+5% $55	+10% $12
Rent	-10% $-17	-5% $41	+0% $99	+5% $156	+10% $214
Rate	-1.0pp $176	-0.5pp $138	base $99	+0.5pp $59	+1.0pp $19

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: $38,250
• Closing costs: $4,590
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-19
   days on market $153,000 Active 296 DOM
2. 2026-06-18
   days on market $153,000 Active 295 DOM
3. 2026-06-17
   days on market $153,000 Active 294 DOM
4. 2026-06-16
   days on market $153,000 Active 293 DOM
5. 2026-06-15
   days on market $153,000 Active 292 DOM
6. 2026-06-14
   days on market $153,000 Active 290 DOM
7. 2026-06-13
   days on market $153,000 Active 289 DOM
8. 2026-06-10
   days on market $153,000 Active 287 DOM
9. 2026-06-09
   days on market $153,000 Active 286 DOM
10. 2026-06-08
    days on market $153,000 Active 285 DOM
11. 2026-06-07
    days on market $153,000 Active 284 DOM
12. 2026-06-03
    days on market $153,000 Active 280 DOM
13. 2026-06-02
    days on market $153,000 Active 279 DOM
14. 2026-06-01
    days on market $153,000 Active 278 DOM
15. 2026-05-31
    days on market $153,000 Active 277 DOM
16. 2026-05-30
    days on market $153,000 Active 276 DOM
17. 2026-03-03
    price $155,000 799-char remark

    Show marketing remark (799 chars)

    Commercial-Zoned in Prime Downtown Location! This charmer sits in a high-traffic, commercially zoned area just steps from downtown. Currently a single-family residence, it could easily be converted into a two-family with a bit of vision. Freshly painted on the outside, it retains beautiful original woodwork and features enclosed front and back porches with beadboard ceilings and abundant windows. Inside, you?ll find a mix of updates and vintage finishes waiting for your creative touch. A full unfinished basement could be great storage, and the fenced yard adds usable outdoor room. With its versatile zoning and solid bones, this property is ready for someone to roll up their sleeves and bring out its full potential. A rare opportunity for live/work, investment, or savvy renovation project.

18. 2026-01-29
    price $159,000 799-char remark

    Show marketing remark (799 chars)

    Commercial-Zoned in Prime Downtown Location! This charmer sits in a high-traffic, commercially zoned area just steps from downtown. Currently a single-family residence, it could easily be converted into a two-family with a bit of vision. Freshly painted on the outside, it retains beautiful original woodwork and features enclosed front and back porches with beadboard ceilings and abundant windows. Inside, you?ll find a mix of updates and vintage finishes waiting for your creative touch. A full unfinished basement could be great storage, and the fenced yard adds usable outdoor room. With its versatile zoning and solid bones, this property is ready for someone to roll up their sleeves and bring out its full potential. A rare opportunity for live/work, investment, or savvy renovation project.

19. 2025-11-05
    price $169,000 799-char remark

    Show marketing remark (799 chars)

    Commercial-Zoned in Prime Downtown Location! This charmer sits in a high-traffic, commercially zoned area just steps from downtown. Currently a single-family residence, it could easily be converted into a two-family with a bit of vision. Freshly painted on the outside, it retains beautiful original woodwork and features enclosed front and back porches with beadboard ceilings and abundant windows. Inside, you?ll find a mix of updates and vintage finishes waiting for your creative touch. A full unfinished basement could be great storage, and the fenced yard adds usable outdoor room. With its versatile zoning and solid bones, this property is ready for someone to roll up their sleeves and bring out its full potential. A rare opportunity for live/work, investment, or savvy renovation project.

20. 2025-10-28
    price $174,000 799-char remark

    Show marketing remark (799 chars)

    Commercial-Zoned in Prime Downtown Location! This charmer sits in a high-traffic, commercially zoned area just steps from downtown. Currently a single-family residence, it could easily be converted into a two-family with a bit of vision. Freshly painted on the outside, it retains beautiful original woodwork and features enclosed front and back porches with beadboard ceilings and abundant windows. Inside, you?ll find a mix of updates and vintage finishes waiting for your creative touch. A full unfinished basement could be great storage, and the fenced yard adds usable outdoor room. With its versatile zoning and solid bones, this property is ready for someone to roll up their sleeves and bring out its full potential. A rare opportunity for live/work, investment, or savvy renovation project.

21. 2025-10-14
    price $179,000 799-char remark

    Show marketing remark (799 chars)

    Commercial-Zoned in Prime Downtown Location! This charmer sits in a high-traffic, commercially zoned area just steps from downtown. Currently a single-family residence, it could easily be converted into a two-family with a bit of vision. Freshly painted on the outside, it retains beautiful original woodwork and features enclosed front and back porches with beadboard ceilings and abundant windows. Inside, you?ll find a mix of updates and vintage finishes waiting for your creative touch. A full unfinished basement could be great storage, and the fenced yard adds usable outdoor room. With its versatile zoning and solid bones, this property is ready for someone to roll up their sleeves and bring out its full potential. A rare opportunity for live/work, investment, or savvy renovation project.

22. 2025-09-23
    price $184,000 799-char remark

    Show marketing remark (799 chars)

    Commercial-Zoned in Prime Downtown Location! This charmer sits in a high-traffic, commercially zoned area just steps from downtown. Currently a single-family residence, it could easily be converted into a two-family with a bit of vision. Freshly painted on the outside, it retains beautiful original woodwork and features enclosed front and back porches with beadboard ceilings and abundant windows. Inside, you?ll find a mix of updates and vintage finishes waiting for your creative touch. A full unfinished basement could be great storage, and the fenced yard adds usable outdoor room. With its versatile zoning and solid bones, this property is ready for someone to roll up their sleeves and bring out its full potential. A rare opportunity for live/work, investment, or savvy renovation project.

23. 2025-08-27
    listed $189,000 Active 799-char remark

    Show marketing remark (799 chars)

    Commercial-Zoned in Prime Downtown Location! This charmer sits in a high-traffic, commercially zoned area just steps from downtown. Currently a single-family residence, it could easily be converted into a two-family with a bit of vision. Freshly painted on the outside, it retains beautiful original woodwork and features enclosed front and back porches with beadboard ceilings and abundant windows. Inside, you?ll find a mix of updates and vintage finishes waiting for your creative touch. A full unfinished basement could be great storage, and the fenced yard adds usable outdoor room. With its versatile zoning and solid bones, this property is ready for someone to roll up their sleeves and bring out its full potential. A rare opportunity for live/work, investment, or savvy renovation project.

24. 2002-05-09
    soldstatus $70,000

ⓘ 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: $2,248 · $187/mo
• Projected year-2 tax: $2,539 · $212/mo
• Expected delta: +$291/yr (+$24/mo · 12.9%)

ⓘ 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 ≥98°F today · 13 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,501
• − Mortgage interest: −$8,570
• − Property taxes: −$2,248
• − Insurance: −$765
• − Repairs & maintenance: −$1,400
• − Management: −$1,400
• − Depreciation: −$4,451
• Taxable loss: −$1,334
• Est. tax savings @ 24.0%: +$320
• After-tax cash flow: $1,504/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: Ripon Area School District
• NCES district ID: 5513020
• Math proficiency: 49% ▼ -6.00%
• Reading proficiency: 50% ▼ -6.00%
• Median HH income: $50,892
• Composite: 42.46/100
• National rank: #3217
• State rank: #57 of 342 in WI

Livability — Ripon

• Score: 84/100
• State rank: #35
• US rank: #719

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ripon, WI
• City population: 10,783
• Population (ZIP): 10,783

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 (91%)
• Race & ethnicity: White 91% Two or more races 5% Hispanic / Latino 4%
• Common ancestry: Romanian 10% Portuguese 4% Iranian 4%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2%

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: ▼ -126.65%
• Current HPI: 203.5496
• Rent YoY: —
• Metro: —
• 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

+121.4% since first listed

8 events — show timeline

• 2026-03-03 Price Changed $155,000 SCWMLS
• 2026-01-29 Price Changed $159,000 SCWMLS
• 2025-11-05 Price Changed $169,000 SCWMLS
• 2025-10-28 Price Changed $174,000 SCWMLS
• 2025-10-14 Price Changed $179,000 SCWMLS
• 2025-09-23 Price Changed $184,000 SCWMLS
• 2025-08-27 Listed $189,000 SCWMLS
• 2002-05-09 Sold (Public Records) $70,000 Public Records

Property tax history

+1.6%/yr

Latest (2025): $2,248 · +7.7% YoY. Source: county tax records.