Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Well-Maintained Duplex Investment Opportunity Title is generated by Realmo AI

    192 East Rees Street, Fond du Lac, WI 54935

    View on Map
    Claim this Listing
    For Sale
    $189,900

    Fully occupied, updated duplex with separate utilities and central air.

    Type:Multifamily / Duplex (2 Unit)
    Property size:
    1,848 SF
    Price / SF:
    $102/SF
    Added:
    Dec 9, 2025
    Days on Market:
    175
    Last Refresh:
    Mar 13 at 4:06 pm

    Property Features for 192 East Rees Street

    General Information

    Standard status
    Active
    Size
    1,848 SF
    Property subtype
    Multifamily / Duplex (2 Unit)

    Building Details

    Year Built
    1908

    We can help!

    Listing Contact
    Jason M Zellner
    Jason M Zellner

    Listing agent Jason M Zellner License #90-59237

    Listing office Zellner Real Estate

    Listing date Dec 9, 2025

    Source Compass

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Zellner Real Estate

    HighLights

    • Fully occupied duplex provides immediate rental income.
    • Separate utilities for each unit.
    • Enjoy Central Air Conditioning.
    • Updated and well‑maintained property, turn‑key investment.
    • New windows (2 years old).
    • Option to occupy the upper unit (month‑to‑month lease).

    Overview

    This is an investment opportunity featuring a fully occupied upper/lower duplex with central air. The property has been well-maintained and updated, presenting a turn-key investment with immediate returns. The building features vinyl siding and 2-year-old windows. Each unit has separate utilities. A shared basement and garage are included. The lower unit is occupied by a long-term tenant with a 1-year lease. The upper unit is rented on a month-to-month basis, offering flexibility for potential owner occupancy or continued rental income. The property size is 1848 square feet.
    Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Fond du Lac
    County
    Fond du Lac
    State
    Wisconsin
    Longitude
    -88.4397784
    Latitude
    43.7820287

    Nearby Similar for Sale

    • $525,000
      1,956 SF

      Fond du Lac Duplex Portfolio

      Six-unit multifamily portfolio in Fond du Lac, fully occupied.
      15 6TH Street, FOND DU LAC, WI 54935
      View Details
    • $259,900
      2,440 SF

      Well-Maintained Fourplex Investment Opportunity

      Fourplex with updates, parking, and potential for owner occupancy.
      83 E 9TH Street, FOND DU LAC, WI 54935
      View Details
    • $144,900
      1,665 SF

      Fond du Lac Duplex Opportunity

      Duplex with income potential, vacant and ready for occupancy.
      153 E 2ND Street, FOND DU LAC, WI 54935
      View Details
    • $225,000
      1,962 SF

      Turnkey 3-Unit Multifamily Property

      Fully renovated, 3-unit building is 100% occupied and designed for reliable income from day one.
      153 HOYT Street, FOND DU LAC, WI 54935-3549
      View Details
    • $149,900
      1,358 SF

      Fond du Lac Duplex For Sale

      Upper/lower duplex with newer updates, ideal for investors/owner-occupants.
      108 N HICKORY Street, FOND DU LAC, WI 54935
      View Details
    • $164,900
      2,168 SF

      Fond du Lac Duplex Investment

      Bright duplex with strong rental income potential near Main Street.
      101 W ARNDT Street, FOND DU LAC, WI 54935
      View Details
    • $164,900
      1,916 SF

      Fond du Lac Duplex Opportunity

      Upper/lower duplex, ideal for investors or owner-occupants.
      86 E JOHNSON Street, FOND DU LAC, WI 54935-3404
      View Details
    • $245,000
      2,700 SF

      Fond du Lac Investment Opportunity

      Fully rented 3-unit property in Fond du Lac, Wisconsin.
      140 4TH Street, FOND DU LAC, WI 54935
      View Details
    • $142,500

      Two-Story Duplex Potential in Fond

      Two-story property with income potential, new roof, and large garage.
      302 W Division St, Fond Du Lac, WI 54935
      View Details
    • $199,900
      4,000 SF

      Downtown Mixed-Use Building For Sale

      Two-story, 4,000 sq ft building in growing downtown district.
      101 S Main St, Fond du Lac, WI 54935
      View Details
    • $649,900
      8,000 SF

      Two Buildings Ideal CBRF Location

      Two buildings with potential for senior housing or healthcare facilities.
      496 Wisconsin Court, FOND DU LAC, WI, 54935
      View Details
    • $690,000
      69,000 SF

      Upgraded Warehouse and Three-Story Building

      Warehouse and three-story building with recent upgrades for sale.
      12 S Brooke St, Fond Du Lac, WI
      View Details

    FAQs

    What type of property is this?
    Duplex - Fully occupied, updated duplex with separate utilities and central air.
    Where is this duplex located?
    The property is located at 192 East Rees Street Fond du Lac, WI.
    What is the asking price?
    The asking price for this property is $189,900.
    What are key features of this property?
    This property features: Fully occupied duplex provides immediate rental income.; Separate utilities for each unit.; Enjoy Central Air Conditioning.
    (920) 960-3898
    We can help!
    Listing Contact
    Jason M Zellner
    Jason M Zellner
    Real Estate License ID: 90-59237
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    192 East Rees Street, Fond du Lac, WI 54935
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!