871 S Main St #184 · Fond du Lac, WI 54935

$64,900

3 bd · 2.0 ba · 1,120 sqft · SingleFamily · 17 Days on market

Built 2019 Good condition

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +5.0/5.0
• Condition / age +3.8/5.0
• Livability +3.7/5.0
• Schools +2.8/10.0
• Appreciation +0.0/10.0

Listing remarks

Well-maintained 2019 Fairmont manufactured home located in The Elms community in Fond du Lac. This home features a functional floor plan with a spacious living area that flows into the kitchen and dining space, offering a practical layout ideal for everyday living and entertaining. The kitchen provides ample cabinetry and counter space along with a practical design for convenience and efficiency. Bedrooms are well-sized with comfortable closet space. This home offers affordable living with convenient access to local shopping, dining, schools, and area amenities. Monthly lot rent is $563.55. A great opportunity for low-maintenance living in a well-kept community setting. Must see today!

Key facts

• The elms community
• Ample cabinetry
• Spacious living area

Tags

• FAIRMONT MANUFACTURED HOME
• THE ELMS COMMUNITY
• FUNCTIONAL FLOOR PLAN
• SPACIOUS LIVING AREA
• AMPLE CABINETRY
• COMFORTABLE CLOSET SPACE

Property features AI

Finance

• Other: Inclusions: Oven/Range, Dishwasher, Refrigerator, Washer/Dryer; Exclusions: Seller's personal items, Microwave

Exterior

• Utilities: Municipal water; Municipal sewer
• Home design: Single-family, 1 story; Approximately 1,120 finished above-grade square feet
• Construction: Vinyl construction
• Exterior features: Vinyl exterior; Storage building on the lot; Subdivision: The Elms; Zoned residential

Interior

• Kitchen: Range/Oven; Refrigerator; Dishwasher
• Bedrooms: Master bedroom on main level (12 x 14); Bedroom 2 on main level (9 x 10); Bedroom 3 on main level (9 x 10)
• Bathrooms: Two full bathrooms; Master bedroom has a full bath
• Heating & cooling: Forced air heating; Central air conditioning; Natural gas heat
• Interior features: Cable/Satellite available; Living room (15 x 16); Kitchen (12 x 16); No basement (slab)
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $65k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $595 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Recommended offer: $64k (1.5% below list) — sets the bar for market timing.
• Cap rate 17.3% 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; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $449 of loan paydown is wiped out by about $2k 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 $18k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($64k) is reasonable based on typical stale-listing flexibility.

Recommended offer $63,926 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 2.03% ✓
• Cap rate: 17.29%
• Cash-on-cash: 39.28%
• DSCR: 2.75
• GRM: 4.1

CMA / ARV

• ARV (on-the-fly): $201,600
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
120 Guindon Blvd	0.25mi	3/1.0	1,232 (+10%)	6mo	$240,000	$195	63
15 Emerald Ct	0.48mi	3/1.5	1,176 (+5%)	7mo	$239,000	$203	62
852 Martin Ave	0.70mi	3/2.0	1,072 (-4%)	10mo	$240,000	$224	52
14 Howard Ave	0.66mi	3/1.0	1,248 (+11%)	0mo	$225,000	$180	46
126 15th St	0.60mi	3/1.0	1,223 (+9%)	12mo	$179,900	$147	43
292 18th St	0.65mi	3/1.0	984 (-12%)	3mo	$205,000	$208	42
96 15th St	0.58mi	3/1.0	1,176 (+5%)	23mo	$185,000	$157	41
193 E 15th St	0.67mi	2/1.0 (-1)	1,116 (-0%)	22mo	$195,000	$175	41
37 Carpenter St	0.64mi	3/1.0	1,248 (+11%)	10mo	$225,000	$180	39
142 15th St	0.61mi	3/1.0	1,248 (+11%)	20mo	$190,000	$152	32
93 Fanna St	0.52mi	4/1.0 (+1)	1,260 (+12%)	22mo	$208,000	$165	27
189 15th St	0.68mi	2/1.0 (-1)	1,286 (+15%)	12mo	$189,000	$147	25

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 41.1%
• Equity multiple: 2.89×
• Total profit: $34,367
• Equity at exit: $9,677

10-year hold

• IRR: 49.7%
• Equity multiple: 7.08×
• Total profit: $110,554
• Equity at exit: $5,611

Cash invested: $18,172 (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: 4.1×

Monthly cashflow live

• Estimated rent: $1,321 medium
• Mortgage (P&I): −$340
• Tax est. 1.5%: −$81 /mo · $974/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$277
• Net cashflow: $595

Break-even live

Break-even rent $568

Max offer price $64,900

Occupancy floor 50%

Sensitivity live

Price	-10% $640	-5% $617	+0% $595	+5% $572	+10% $550
Rent	-10% $490	-5% $543	+0% $595	+5% $647	+10% $699
Rate	-1.0pp $627	-0.5pp $611	base $595	+0.5pp $578	+1.0pp $561

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: $16,225
• Closing costs: $1,947
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
377 Ellis St Unit 377 1/2 Fond du Lac, WI	2.0	1.0	1000	$1,200	$1.20	44d	1	0.96mi
40 Overlook Dr Fond du Lac, WI	1.0–2.0	1.0–2.0	943	$1,700	$1.80	13d	13	1.13mi
17 6th St Fond du Lac, WI	2.0	1.0	1000	$975	$0.97	44d	1	1.19mi

Listing history 14 events

1. 2026-06-19
   days on market $64,900 Active 17 DOM
2. 2026-06-18
   days on market $64,900 Active 16 DOM
3. 2026-06-18
   price $64,900 Active 15 DOM
4. 2026-06-17
   days on market $70,000 Active 15 DOM
5. 2026-06-16
   days on market $70,000 Active 14 DOM
6. 2026-06-15
   days on market $70,000 Active 13 DOM
7. 2026-06-14
   days on market $70,000 Active 11 DOM
8. 2026-06-12
   days on market $70,000 Active 10 DOM
9. 2026-06-09
   days on market $70,000 Active 7 DOM
10. 2026-06-08
    days on market $70,000 Active 6 DOM
11. 2026-06-07
    days on market $70,000 Active 5 DOM
12. 2026-06-05
    days on market $70,000 Active 2 DOM
13. 2026-06-03
    remarks 694-char remark
14. 2026-06-03
    listed $70,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,848
• − Mortgage interest: −$3,635
• − Property taxes: −$974
• − Insurance: −$324
• − Repairs & maintenance: −$1,268
• − Management: −$1,268
• − Depreciation: −$1,888
• Taxable income: $6,491
• Est. tax owed @ 24.0%: −$1,558
• After-tax cash flow: $5,580/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.

Condition & rehab AI · 13 photos

Good 75/100 Cosmetic rehab

This well-maintained 2019 Fairmont manufactured home in The Elms community is in good condition with minimal repairs needed. It offers a practical floor plan and is located in a low-maintenance community setting.

Value-add opportunities

• Both Paint the exterior siding — Fresh paint can enhance the curb appeal and increase the home's value.
• Both Replace worn-out appliances — Modern appliances can improve the home's functionality and attract more buyers.
• Both Landscaping improvements — A well-maintained garden can enhance the home's curb appeal and attract more buyers.
• Both Replace worn-out carpets — Fresh carpets can improve the home's comfort and attract more buyers.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint the exterior siding — Fresh paint can enhance the curb appeal and increase the home's value. ↑
• Both Replace worn-out appliances — Modern appliances can improve the home's functionality and attract more buyers. ↑
• Both Landscaping improvements — A well-maintained garden can enhance the home's curb appeal and attract more buyers. ↑
• Both Replace worn-out carpets — Fresh carpets can improve the home's comfort and attract more buyers. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

1 event — show timeline

• 2026-06-02 Listed $70,000 SCWMLS