818 Main St Unit 1 & 2 · Eau Claire, WI 54701

$245,000

4 bd · 2.0 ba · 1,920 sqft · MultiFamily · 20 Days on market

Built 1900 Good condition 6,534 sqft lot Est $209k · 17% over

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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 +29.7/30.0
• DSCR +10.0/10.0
• 1% rule +8.4/10.0
• Livability +4.5/5.0
• Condition / age +3.8/5.0
• Schools +3.5/10.0
• Rent growth +3.0/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Welcome to 818 Main St! This investment property has a solid rental history, tenants and is low maintenance. In the last 20 years, this property has been totally remodeled, new roof in 2022, equipped with central AC and each unit is metered separately for utilities and has its own laundry. This property is close to downtown, on the bus route, trails, shopping, food and more. Check it out and add to your rental portfolio today!

Key facts

• Central ac
• Totally remodeled
• Metered separately

Tags

• TOTALLY REMODELED
• NEW ROOF
• CENTRAL AC
• METERED SEPARATELY
• OWN LAUNDRY
• CLOSE TO DOWNTOWN

Property features AI

Finance

• Financial info: Two-unit property (duplex)

Exterior

• Utilities: Municipal water; Municipal sewer
• Home design: Duplex (multi-family); Approximately 1,751–2,000 total sq. ft. above grade; Finished above grade about 1,920 sq. ft.; Residential-duplex zoning; Lot under 1/2 acre (approximately 0.15 acre)
• Construction: Vinyl exterior
• Exterior features: Deck; Storage shed

Interior

• Kitchen: Range/oven; Microwave; Refrigerator
• Bedrooms: Unit 1: 2 bedrooms; Unit 2: 2 bedrooms
• Bathrooms: Unit 1: 1 full bathroom; Unit 2: 1 full bathroom
• Heating & cooling: Forced air heating; Central air conditioning; Natural gas heating
• Interior features: Circuit breakers
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $245k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $893 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $245k).
• Recommended offer: $241k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.7% vs local median 2.4% in Eau Claire — 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 89/100 on livability (#10 in WI, #121 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, cost of living A+, housing A+.
• Eau Claire Area School District (urban): math 38% / reading 43% proficiency, ranked #150 of 342 in WI (top 44%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+2.1%/yr); 152 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 583 units permitted in Eau Claire County in 2024 (325 in 5+ unit buildings).
• At $3,273/mo this rent would consume 53% of the median local household income ($74k/yr) (locally 1274% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Eau Claire County population projected at +14% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 2.1% rent growth), your $69k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($241k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $241,325 (1.5% below list)

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.34% ✓
• Cap rate: 10.66%
• Cash-on-cash: 15.61%
• DSCR: 1.69
• GRM: 6.2

CMA / ARV

• ARV (on-the-fly): $209,280
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
517 Dodge St Unit 1 & 2	0.13mi	5/2.0 (+1)	1,932 (+1%)	5mo	$157,500	$82	84
708 Jones St Unit 1 & 1/2	0.12mi	4/2.0	2,024 (+5%)	4mo	$145,000	$72	82
901 Barland St Unit 1&2	0.12mi	4/2.0	2,118 (+10%)	13mo	$265,000	$125	66
503 Dewey St Unit 1 & 2	0.51mi	4/2.0	2,037 (+6%)	5mo	$188,500	$93	62
1105 Barland St Unit 1-2	0.30mi	5/2.0 (+1)	1,768 (-8%)	9mo	$145,000	$82	60
1037 Barland St Unit 1 & 2	0.27mi	3/2.0 (-1)	2,095 (+9%)	9mo	$222,500	$106	60
1150 E Madison St #3	0.38mi	4/3.0	2,083 (+8%)	14mo	$261,000	$125	52
1205 Graham Ave #1	0.63mi	5/2.0 (+1)	2,066 (+8%)	11mo	$225,000	$109	44
1024 1st Ave #1	0.68mi	3/3.0 (-1)	2,098 (+9%)	7mo	$295,000	$141	38
906 Oxford Ave Unit 1, 2 & 3	0.71mi	3/4.0 (-1)	1,864 (-3%)	20mo	$225,000	$121	32
1204 1st Ave Unit 1-2	0.75mi	5/2.0 (+1)	2,048 (+7%)	21mo	$279,900	$137	31

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 · 2.1% rent growth · sell at horizon

5-year hold

• IRR: 5.4%
• Equity multiple: 1.21×
• Total profit: $14,257
• Equity at exit: $36,530

10-year hold

• IRR: 14.0%
• Equity multiple: 2.08×
• Total profit: $73,975
• Equity at exit: $21,183

Cash invested: $68,600 (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 54701

• Rents YoY: 2.1%
• Active inventory: 152
• Price-to-rent: 12.5×

Monthly cashflow live

• Estimated rent: $3,273 high
• Mortgage (P&I): −$1,285
• Tax est. 1.5%: −$306 /mo · $3,675/yr
• Insurance: −$102
• HOA: −$0
• Vacancy / Maint / Mgmt: −$687
• Net cashflow: $893

Break-even live

Break-even rent $2,143

Max offer price $245,000

Occupancy floor 68%

Sensitivity live

Price	-10% $1,062	-5% $977	+0% $893	+5% $808	+10% $723
Rent	-10% $634	-5% $763	+0% $893	+5% $1,022	+10% $1,151
Rate	-1.0pp $1,016	-0.5pp $955	base $893	+0.5pp $829	+1.0pp $764

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,274
Total (2 units)			$3,273

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: $61,250
• Closing costs: $7,350
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1014 Oxford Ave Unit 1/2 Eau Claire, WI	4.0	1.0	1244	$1,396	$1.12	44d	1	0.77mi
639 Niagara St Eau Claire, WI	3.0	1.0	1300	$1,300	$1.00	14d	1	1.24mi
299 Fairfax St Altoona, WI	1.0–3.0	1.0–2.0	1088	$1,550	$1.42	14d	3	1.31mi
315 9th Ave Eau Claire, WI	4.0	1.0	1260	$1,425	$1.13	14d	1	1.42mi

Listing history 3 events

1. 2026-05-06
   status Pending
2. 2026-04-21
   historical Contingent
3. 2026-04-07
   listed $245,000 Active

ⓘ 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 · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $39,276
• − Mortgage interest: −$13,724
• − Property taxes: −$3,675
• − Insurance: −$1,225
• − Repairs & maintenance: −$3,142
• − Management: −$3,142
• − Depreciation: −$7,127
• Taxable income: $7,241
• Est. tax owed @ 24.0%: −$1,738
• After-tax cash flow: $8,973/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 multi-family property is in good condition with a solid rental history. Minor updates to the kitchen and bathrooms, along with fresh paint and landscaping, can significantly increase its value.

Repairs flagged

• Minor Kitchen cabinets — Aesthetic update needed to modernize the space.
• Minor Bathroom sink and vanity — Cleaning and minor repairs needed for functionality.

Value-add opportunities

• Both Paint interior walls and trim — Fresh paint enhances the home's appearance and can increase both resale and rental value.
• Both Replace kitchen cabinets and countertops — Modernizing the kitchen can significantly boost the home's appeal and value.
• Both Landscaping and curb appeal improvements — Aesthetic improvements can attract more buyers and renters, increasing both resale and rental value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Aesthetic update needed to modernize the space.	Minor	$500–3,000
Bathroom sink and vanity · Cleaning and minor repairs needed for functionality.	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both Paint interior walls and trim — Fresh paint enhances the home's appearance and can increase both resale and rental value. ↑
• Both Replace kitchen cabinets and countertops — Modernizing the kitchen can significantly boost the home's appeal and value. ↑
• Both Landscaping and curb appeal improvements — Aesthetic improvements can attract more buyers and renters, increasing both resale and rental value. ↑

ⓘ 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: Eau Claire Area School District
• NCES district ID: 5504050
• Math proficiency: 38% ▼ -9.00%
• Reading proficiency: 43% ▬ 0.00%
• Median HH income: $48,206
• Composite: 34.72/100
• National rank: #5135
• State rank: #150 of 342 in WI

Livability — Eau Claire

• Score: 89/100
• State rank: #10
• US rank: #121

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Eau Claire, WI
• County: Eau Claire County · 96,114 people
• City population: 87,167
• Metro: Eau Claire, WI
• Population (ZIP): 43,014
• Household income: $74,361
• Rent vs Own: 42.6% rent · 57.4% own
• Severe rent burden: 1274.0

Population outlook (Eau Claire County) Hauer SSP2

• Today (2025): 109,006 people
• By 2030: 112,587 · +3.3%
• By 2040: 118,674 · +8.9%
• By 2050: 124,085 · +13.8%
• By 2075: 135,804 · +24.6%
• By 2100: 139,875 · +28.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 5% Asian 4% Hispanic / Latino 2%
• Common ancestry: Portuguese 16% Romanian 5% Lithuanian 4%
• Foreign-born: 4% · Canada, China
• Languages at home: 95% English-only · Spanish 1% Other Asian/Pacific 1% Other Indo-European 1%

Political lean MEDSL · Eau Claire

• 2024 margin: D (+10.6) · D 54.6% · R 44.0% · Other 1.4%
• 2008→2024 swing: -11.6pp toward R · 2008: 22.1pp · 2024: 10.6pp
• All cycles: 2024: D+10.6 2020: D+10.8 2016: D+7.3 2012: D+13.6 2008: D+22.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -188.63%
• Current HPI: 197.5224
• Rent YoY: ▲ 2.10%
• Metro: Eau Claire, 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

3 events — show timeline

• 2026-05-06 Pending — RANWW
• 2026-04-21 Contingent — RANWW
• 2026-04-07 Listed $245,000 RANWW