314 E Fond Du Lac St · Ripon, WI 54971

$130,000

None bd · None ba · 2,090 sqft · MultiFamily · 115 Days on market

Built 1902 0.35 ac lot $62/sqft · 16% below area Est $155k · 16% under ↓ 32% 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 +15.0/30.0
• ARV discount +14.8/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• 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

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 7 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Great investment opportunity awaits! This 7 unit boarding house is perfectly situated close to downtown Ripon and Ripon college. The main floor has a shared kitchen and both levels have a full bath for convenience of the renters. Rooms are dorm sized and each have a sink. New water heater. Landlord pays for utilities. The massive 48x35 car garage is included with a brand new roof! Rents that were collected vary with each room. This property is being sold as is. This property is in a flood plain. Exterior is asphalt siding. GFA on main level and electric baseboard heat upstairs.

Key facts

• Asphalt siding
• New water heater
• Gfa heating

Tags

• FULL BATH
• NEW WATER HEATER
• MASSIVE CAR GARAGE
• NEW ROOF
• ASPHALT SIDING
• GFA HEATING

What this means for you Summary

Snapshot

• This is a 7 × 1-bed/1-bath units multifamily listed at $130k.

Deal economics

• At list price, monthly cash flow is $4k ($46k/yr) — positive. Per door: $552/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $130k).
• Recommended offer: $118k (9.0% below list) — sets the bar for market timing.
• Cap rate 46.2% 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 $899 of loan paydown is wiped out by about $4k 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 + 3.0% rent growth), your $36k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 115 days — a 9% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask is 8567% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: flood insurance adds $460/mo; built in 1902 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $118,300 (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. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1902 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. 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: 5.08% ✓
• Cap rate: 46.19%
• Cash-on-cash: 142.48%
• DSCR: 7.34
• GRM: 1.6

CMA / ARV

• ARV (median comp): $155,000
• List price: $130,000
• Delta: -16.13%
• Verdict: UNDERPRICED
• Comps: 5 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
404 W Fond Du Lac St	0.58mi	5/2.0	1,862 (-11%)	4mo	$155,000	$83	51
735 Metomen St	0.30mi	4/2.0	1,824 (-13%)	18mo	$165,000	$90	50

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 7.19×
• Total profit: $225,258
• Equity at exit: $19,383

10-year hold

• IRR: —
• Equity multiple: 15.13×
• Total profit: $514,394
• Equity at exit: $11,240

Cash invested: $36,400 (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: 11.5×

Monthly cashflow live

• Estimated rent: $6,608 medium
• Mortgage (P&I): −$682
• Tax est. 1.5%: −$162 /mo · $1,950/yr
• Insurance: −$54
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,388
• Net cashflow: $3,862

Break-even live

Break-even rent $1,720

Max offer price $130,000

Occupancy floor 37%

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

Units	Beds	Baths	Est. rent
▸ 7× units	1	1	$6,608
Total (7 units)			$6,608

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-19
   days on market $130,000 Active 115 DOM
2. 2026-06-18
   days on market $130,000 Active 114 DOM
3. 2026-06-17
   days on market $130,000 Active 113 DOM
4. 2026-06-16
   days on market $130,000 Active 112 DOM
5. 2026-06-15
   days on market $130,000 Active 111 DOM
6. 2026-06-14
   days on market $130,000 Active 109 DOM
7. 2026-06-13
   days on market $130,000 Active 108 DOM
8. 2026-06-10
   days on market $130,000 Active 106 DOM
9. 2026-06-09
   days on market $130,000 Active 105 DOM
10. 2026-06-08
    days on market $130,000 Active 104 DOM
11. 2026-06-07
    days on market $130,000 Active 103 DOM
12. 2026-06-03
    days on market $130,000 Active 99 DOM
13. 2026-06-02
    days on market $130,000 Active 98 DOM
14. 2026-06-01
    days on market $130,000 Active 97 DOM
15. 2026-05-31
    days on market $130,000 Active 96 DOM
16. 2026-05-30
    days on market $130,000 Active 95 DOM
17. 2026-05-13
    listed $1,500
18. 2026-04-26
    price $130,000 584-char remark

    Show marketing remark (584 chars)

    Great investment opportunity awaits! This 7 unit boarding house is perfectly situated close to downtown Ripon and Ripon college. The main floor has a shared kitchen and both levels have a full bath for convenience of the renters. Rooms are dorm sized and each have a sink. New water heater. Landlord pays for utilities. The massive 48x35 car garage is included with a brand new roof! Rents that were collected vary with each room. This property is being sold as is. This property is in a flood plain. Exterior is asphalt siding. GFA on main level and electric baseboard heat upstairs.

19. 2026-03-05
    historical $2,200
20. 2026-02-24
    listed $149,900 Active 584-char remark

    Show marketing remark (584 chars)

    Great investment opportunity awaits! This 7 unit boarding house is perfectly situated close to downtown Ripon and Ripon college. The main floor has a shared kitchen and both levels have a full bath for convenience of the renters. Rooms are dorm sized and each have a sink. New water heater. Landlord pays for utilities. The massive 48x35 car garage is included with a brand new roof! Rents that were collected vary with each room. This property is being sold as is. This property is in a flood plain. Exterior is asphalt siding. GFA on main level and electric baseboard heat upstairs.

21. 2026-01-20
    listed $2,200

ⓘ 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 4/10 Moderate FEMA zone AE · 22% 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: $79,296
• − Mortgage interest: −$7,282
• − Property taxes: −$1,950
• − Insurance: −$6,175
• − Repairs & maintenance: −$6,344
• − Management: −$6,344
• − Depreciation: −$3,782
• Taxable income: $47,420
• Est. tax owed @ 24.0%: −$11,381
• After-tax cash flow: $34,957/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

-31.8% since first listed

5 events — show timeline

• 2026-05-13 Listed for Rent $1,500 BUILDIUM
• 2026-04-26 Price Changed $130,000 RANW
• 2026-03-05 Rental Removed $2,200 BUILDIUM
• 2026-02-24 Listed $149,900 RANW
• 2026-01-20 Listed for Rent $2,200 BUILDIUM