2918-20 Leslie Ln Unit 1,2 · Eau Claire, WI 54703

$345,000

10 bd · 4.0 ba · 3,041 sqft · MultiFamily · 3 Days on market

Built 1967 Fair condition 0.41 ac lot

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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 +21.5/30.0
• ARV discount +7.5/15.0
• DSCR +6.9/10.0
• 1% rule +5.7/10.0
• Livability +4.5/5.0
• Schools +3.5/10.0
• Rent growth +3.0/5.0
• Condition / age +2.8/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Excellent investment opportunity! Gross income of $5,900 monthly. This well-maintained duplex is located on the north side of Eau Claire and features long-term tenants on both sides, each with over five years of occupancy and currently renting on month-to-month leases. The property offers a spacious yard and a large, partially covered wood deck overlooking the backyard. Conveniently located near Highway 53 and North Crossing, it provides easy access to shopping, dining, and other amenities. Each unit includes a one-car attached garage, currently utilized by tenants for storage. The 2918 unit features updated laminate flooring in the living room. All three lower-level bedrooms are equipped w

Key facts

• Spacious yard
• Large wood deck
• Egress windows

Tags

• SPACIOUS YARD
• LARGE WOOD DECK
• EASY ACCESS TO SHOPPING
• UPDATED LAMINATE FLOORING
• EGRESS WINDOWS

Property features AI

Exterior

• Utilities: Municipal water; Municipal sewer; Natural gas heating; Forced air heating; Central air conditioning
• Home design: Duplex; Multi-family property; Estimated finished area between 3,001 and 3,500 sq. ft.; Finished above grade: 1,592 sq. ft.; Finished below grade: 1,449 sq. ft.
• Construction: Lot size approximately 0.408 acres; Zoned Residential / Residential-Duplex
• Exterior features: Vinyl exterior

Interior

• Kitchen: Dishwasher; Range/Oven; Microwave; Refrigerator
• Bedrooms: Unit 1: 5 bedrooms; Unit 2: 5 bedrooms
• Bathrooms: Unit 1: 2 full bathrooms; Unit 2: 2 full bathrooms
• Interior features: Ceiling fans; Circuit breakers; Other interior features (see remarks)
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2 × 5-bed/2.0-bath units multifamily listed at $345k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $521 ($6k/yr) — positive. Per door: $260/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $345k).
• Cap rate 8.1% 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 (+2.0%/yr); 212 active listings in the ZIP; 583 units permitted in Eau Claire County in 2024 (325 in 5+ unit buildings).
• At $3,677/mo this rent would consume 62% of the median local household income ($72k/yr) (locally 1614% 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 $10k 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.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $345,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. Built in 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.07% ✓
• Cap rate: 8.10%
• Cash-on-cash: 6.47%
• DSCR: 1.29
• GRM: 7.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.01% rent growth · sell at horizon

5-year hold

• IRR: -7.5%
• Equity multiple: 0.73×
• Total profit: $-26,318
• Equity at exit: $51,441

10-year hold

• IRR: 0.8%
• Equity multiple: 1.06×
• Total profit: $5,415
• Equity at exit: $29,829

Cash invested: $96,600 (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 54703

• Rents YoY: 2.0%
• Active inventory: 212
• Price-to-rent: 15.6×

Monthly cashflow live

• Estimated rent: $3,677 medium
• Mortgage (P&I): −$1,809
• Tax est. 1.5%: −$431 /mo · $5,175/yr
• Insurance: −$144
• HOA: −$0
• Vacancy / Maint / Mgmt: −$772
• Net cashflow: $521

Break-even live

Break-even rent $3,018

Max offer price $345,000

Occupancy floor 81%

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

Units	Beds	Baths	Est. rent
▸ 2× units	5	2	$3,678
Total (2 units)			$3,677

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: $86,250
• Closing costs: $10,350
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-06-07
   statusdays on market $345,000 Pending 3 DOM
2. 2026-06-05
   days on market $345,000 Active 2 DOM
3. 2026-06-03
   remarks 699-char remark
4. 2026-06-03
   listed $345,000 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 · 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: $44,124
• − Mortgage interest: −$19,325
• − Property taxes: −$5,175
• − Insurance: −$1,725
• − Repairs & maintenance: −$3,530
• − Management: −$3,530
• − Depreciation: −$10,036
• Taxable income: $802
• Est. tax owed @ 24.0%: −$193
• After-tax cash flow: $6,055/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 · 5 photos

Fair 55/100 Moderate rehab

The property is a moderate rehab opportunity with fair condition and some wear. Repairs and updates to the exterior siding, interior walls, and bathroom fixtures can significantly increase its value.

Repairs flagged

• Minor exterior siding — There is some discoloration and minor wear on the exterior siding.
• Minor interior walls — There is some discoloration and minor wear on the interior walls.
• Minor bathroom fixtures — The bathroom fixtures appear outdated and could benefit from an update.

Value-add opportunities

• Both paint interior walls — Painting the interior walls can improve the appearance and increase the value of the property.
• Both repair and paint exterior siding — Repairing and painting the exterior siding can improve the curb appeal and increase the property's value.
• Both update bathroom fixtures — Updating the bathroom fixtures can improve the functionality and appearance of the bathroom, increasing the property's value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · There is some discoloration and minor wear on the exterior siding.	Minor	$500–3,000
interior walls · There is some discoloration and minor wear on the interior walls.	Minor	$500–3,000
bathroom fixtures · The bathroom fixtures appear outdated and could benefit from an update.	Minor	$500–3,000
Total estimated repair cost · 3 items		$1,500–9,000

Value-add ROI direction

• Both paint interior walls — Painting the interior walls can improve the appearance and increase the value of the property. ↑
• Both repair and paint exterior siding — Repairing and painting the exterior siding can improve the curb appeal and increase the property's value. ↑
• Both update bathroom fixtures — Updating the bathroom fixtures can improve the functionality and appearance of the bathroom, increasing the property's 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): 44,153
• Household income: $71,518
• Rent vs Own: 38.4% rent · 61.6% own
• Severe rent burden: 1614.0

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 (85%)
• Race & ethnicity: White 85% Asian 6% Two or more races 4% Hispanic / Latino 4% Black 2%
• Common ancestry: Portuguese 16% Romanian 5% Lithuanian 3%
• Foreign-born: 3% · Canada, China
• Languages at home: 92% English-only · Other Asian/Pacific 4% Spanish 3%

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: ▼ -276.20%
• Current HPI: 218.2747
• Rent YoY: ▲ 2.01%
• 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

1 event — show timeline

• 2026-06-01 Listed $345,000 RANWW