315 E Maple St · River Falls, WI 54022

$347,000

7 bd · 4.0 ba · 2,786 sqft · MultiFamily · 17 Days on market

Built 1873 0.27 ac lot

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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
• Livability +4.4/5.0
• Schools +4.1/10.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• 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 MLS

Rare opportunity for a four-plex offers an excellent mix of units: three 1-bedroom/1-bath apartments and one large 4-bedroom/1-bath unit. With a proven track record of strong rental history and all units currently leased. Perfectly located just minutes from the University of Wisconsin-River Falls (UWRF) and vibrant downtown River Falls!

Key facts

• Currently leased
• Four-plex
• 0.27 acre lot

Tags

• FOUR-PLEX
• STRONG RENTAL HISTORY
• CURRENTLY LEASED
• VIBRANT DOWNTOWN RIVER FALLS

Property features AI

Finance

• Financial info: Property configured as 4 rental units; Gross income: $42,000; Net operating income: $36,180; Owner pays: electricity, gas, grounds care, water; Tenant pays: electricity, trash collection; Expenses listed: Fuel $1,140; Electric $1,320; Manager $3,360

Exterior

• Utilities: City water connected; City sewer connected; Natural gas
• Home design: Residential income property; Two-story building; Main level finished living area present
• Construction: Roof replaced within last 8 years; Foundation: stone; Above-grade finished area and below-grade area present
• Exterior features: Enclosed patio/porch; Front porch; Lot approximately 0.27 acres (132 x 87)

Interior

• Kitchen: Ranges and refrigerators included in each unit
• Bedrooms: 7 total bedrooms across units
• Bathrooms: Multiple bathrooms across units, including three-quarter and full baths
• Heating & cooling: Boiler heating
• Interior features: Unfinished basement; Stone foundation; Two levels
• Laundry & utility: Owner pays water; Natural gas fuel

What this means for you Summary

Snapshot

• This is a 7-bed/4.0-bath multifamily listed at $347k.

Deal economics

• At list price, monthly cash flow is $2k ($26k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $347k).
• Recommended offer: $342k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 87/100 on livability (#20 in WI, #322 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, housing A+; Watch: commute F.
• River Falls School District (town): math 44% / reading 49% proficiency, ranked #69 of 342 in WI (top 20%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 18% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising (+1.1%/yr); 138 active listings in the ZIP; solid renter incomes; 191 units permitted in Pierce County in 2024 (0 in 5+ unit buildings).
• At $5,816/mo this rent would consume 72% of the median local household income ($97k/yr) (locally 422% 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.
• Pierce County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 1.1% rent growth), your $97k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($342k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 25y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $247k; 40% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1873 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $341,795 (1.5% below list)

Questions for the listing agent

1. Built in 1873 — 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 A-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: 1.68% ✓
• Cap rate: 13.89%
• Cash-on-cash: 27.13%
• DSCR: 2.21
• GRM: 5.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.13% rent growth · sell at horizon

5-year hold

• IRR: 19.0%
• Equity multiple: 1.75×
• Total profit: $73,018
• Equity at exit: $51,739

10-year hold

• IRR: 26.0%
• Equity multiple: 3.08×
• Total profit: $201,628
• Equity at exit: $30,002

Cash invested: $97,160 (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 54022

• Home prices YoY: -28.3%
• Rents YoY: 1.1%
• Active inventory: 138
• Price-to-rent: 22.3×

Monthly cashflow live

• Estimated rent: $5,816 medium
• Mortgage (P&I): −$1,820
• Tax est. 1.5%: −$434 /mo · $5,205/yr
• Insurance: −$145
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,221
• Net cashflow: $2,197

Break-even live

Break-even rent $3,035

Max offer price $347,000

Occupancy floor 57%

Sensitivity live

Price	-10% $2,436	-5% $2,317	+0% $2,197	+5% $2,077	+10% $1,957
Rent	-10% $1,737	-5% $1,967	+0% $2,197	+5% $2,426	+10% $2,656
Rate	-1.0pp $2,371	-0.5pp $2,285	base $2,197	+0.5pp $2,107	+1.0pp $2,015

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

Units	Beds	Baths	Est. rent
▸ 3× units	1	1	$3,888
1× unit	4	1	$1,927
Total (4 units)			$5,816

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: $86,750
• Closing costs: $10,410
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-05-01
   status Pending 338-char remark

   Show marketing remark (338 chars)

   Rare opportunity for a four-plex offers an excellent mix of units: three 1-bedroom/1-bath apartments and one large 4-bedroom/1-bath unit. With a proven track record of strong rental history and all units currently leased. Perfectly located just minutes from the University of Wisconsin-River Falls (UWRF) and vibrant downtown River Falls!

2. 2026-05-01
   status Pending 338-char remark

   Show marketing remark (338 chars)

   Rare opportunity for a four-plex offers an excellent mix of units: three 1-bedroom/1-bath apartments and one large 4-bedroom/1-bath unit. With a proven track record of strong rental history and all units currently leased. Perfectly located just minutes from the University of Wisconsin-River Falls (UWRF) and vibrant downtown River Falls!

3. 2026-04-14
   listed $347,000 Active 338-char remark

   Show marketing remark (338 chars)

   Rare opportunity for a four-plex offers an excellent mix of units: three 1-bedroom/1-bath apartments and one large 4-bedroom/1-bath unit. With a proven track record of strong rental history and all units currently leased. Perfectly located just minutes from the University of Wisconsin-River Falls (UWRF) and vibrant downtown River Falls!

4. 2026-04-14
   listed $347,000 Active 338-char remark

   Show marketing remark (338 chars)

   Rare opportunity for a four-plex offers an excellent mix of units: three 1-bedroom/1-bath apartments and one large 4-bedroom/1-bath unit. With a proven track record of strong rental history and all units currently leased. Perfectly located just minutes from the University of Wisconsin-River Falls (UWRF) and vibrant downtown River Falls!

5. 2008-02-28
   soldstatus $247,000 245-char remark

   Show marketing remark (245 chars)

   GRAND HISTORIC HOUSE W/ UNIQUE WATCH TOWER NOW A HIGH DEMAND FOUR UNIT INCOME PRODUCER. MUCH OF THE BEAUTIFUL WOODWORK HAS BEEN PRESERVED. NEW ROOF, SEPARATE ELECT PANELS, DRYWALL, CARPETS AND MORE. 2 BLOCKS TO UWRF. THIS ONE WILL NOT LAST .

6. 2007-12-11
   historical 245-char remark

   Show marketing remark (245 chars)

   GRAND HISTORIC HOUSE W/ UNIQUE WATCH TOWER NOW A HIGH DEMAND FOUR UNIT INCOME PRODUCER. MUCH OF THE BEAUTIFUL WOODWORK HAS BEEN PRESERVED. NEW ROOF, SEPARATE ELECT PANELS, DRYWALL, CARPETS AND MORE. 2 BLOCKS TO UWRF. THIS ONE WILL NOT LAST .

7. 2007-09-21
   listed $259,900 245-char remark

   Show marketing remark (245 chars)

   GRAND HISTORIC HOUSE W/ UNIQUE WATCH TOWER NOW A HIGH DEMAND FOUR UNIT INCOME PRODUCER. MUCH OF THE BEAUTIFUL WOODWORK HAS BEEN PRESERVED. NEW ROOF, SEPARATE ELECT PANELS, DRYWALL, CARPETS AND MORE. 2 BLOCKS TO UWRF. THIS ONE WILL NOT LAST .

8. 2006-07-29
   soldstatus $247,500
9. 2006-07-08
   historical
10. 2006-06-20
    listed $249,000
11. 2001-04-30
    soldstatus $113,000
12. 2001-03-26
    historical
13. 2001-03-12
    listed $114,900

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

Taxation est. · year 1

• Rental income: $69,792
• − Mortgage interest: −$19,437
• − Property taxes: −$5,205
• − Insurance: −$1,735
• − Repairs & maintenance: −$5,583
• − Management: −$5,583
• − Depreciation: −$10,095
• Taxable income: $22,153
• Est. tax owed @ 24.0%: −$5,317
• After-tax cash flow: $21,042/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: River Falls School District
• NCES district ID: 5513050
• Math proficiency: 44% ▼ -7.00%
• Reading proficiency: 49% ▼ -2.00%
• Median HH income: $63,238
• Composite: 41.14/100
• National rank: #3558
• State rank: #69 of 342 in WI

Livability — River Falls

• Score: 87/100
• State rank: #20
• US rank: #322

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: River Falls, WI
• County: Pierce County · 24,789 people
• City population: 24,789
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• Population (ZIP): 24,789
• Household income: $96,642
• Rent vs Own: 31.8% rent · 68.2% own
• Severe rent burden: 422.0

Population outlook (Pierce County) Hauer SSP2

• Today (2025): 41,245 people
• By 2030: 40,340 · -2.2%
• By 2040: 37,649 · -8.7%
• By 2050: 34,595 · -16.1%
• By 2075: 29,067 · -29.5%
• By 2100: 25,183 · -38.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 4% Hispanic / Latino 2% Asian 1%
• Common ancestry: Portuguese 14% Romanian 4% Lithuanian 3%
• Foreign-born: 2%
• Languages at home: 97% English-only · Spanish 1% Other Asian/Pacific 1%

Political lean MEDSL · Pierce

• 2024 margin: R (+16.8) · D 40.2% · R 56.9% · Other 2.9%
• 2008→2024 swing: -25.8pp toward R · 2008: 9.0pp · 2024: -16.8pp
• All cycles: 2024: R+16.8 2020: R+12.9 2016: R+13.7 2012: R+0.8 2008: D+9.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -107.31%
• Current HPI: 272.0987
• Rent YoY: ▲ 1.13%
• Metro: Minneapolis-St. Paul-Bloomington, MN-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

+202.0% since first listed

13 events — show timeline

• 2026-05-01 Pending — WWRA
• 2026-05-01 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-14 Listed $347,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-14 Listed $347,000 WWRA
• 2008-02-28 Sold (MLS) $247,000 NORTHSTARMLS as Distributed by MLS Grid
• 2007-12-11 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2007-09-21 Listed $259,900 NORTHSTARMLS as Distributed by MLS Grid
• 2006-07-29 Sold (MLS) $247,500 NORTHSTARMLS as Distributed by MLS Grid
• 2006-07-08 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2006-06-20 Listed $249,000 NORTHSTARMLS as Distributed by MLS Grid
• 2001-04-30 Sold (MLS) $113,000 NORTHSTARMLS as Distributed by MLS Grid
• 2001-03-26 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2001-03-12 Listed $114,900 NORTHSTARMLS as Distributed by MLS Grid