505 3rd Ave · Eau Claire, WI 54703

$225,000

2 bd · 2.0 ba · 1,968 sqft · SingleFamily public records · 5 Days on market

Built 1949 4,791 sqft lot Est $252k · 11% under

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Why this score? — see what drove the F 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).

• ARV discount +12.3/15.0
• Cash flow +5.4/30.0
• Livability +4.5/5.0
• Schools +3.5/10.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• 1% rule +1.1/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Fantastic opportunity awaits in this move-in ready 2-bedroom, 2-bathroom home perfectly situated directly across from the scenic Randall Park! This property boasts an unbeatable location within walking distance to the vibrant Water Street district and the UWEC campus, making it an ideal choice for homeowners or investors alike. Step inside to find a fresh and inviting interior featuring brand-new carpeting throughout. The cozy living area is anchored by a charming gas fireplace, perfect for relaxing evenings. Previously utilized as a successful student rental, this home has been well-maintained and is ready for its next chapter. Additional features include a full basement providing ample storage or potential for future expansion, and a shared driveway leading to a convenient 1-car garage. Don't miss your chance to own a piece of this sought-after neighborhood! The seller will look at all offers on Tuesday, May 26th. WI MLS# 1601387

Key facts

• Brand-new carpeting
• Gas fireplace
• Full basement

Tags

• BRAND-NEW CARPETING
• GAS FIREPLACE
• FULL BASEMENT

Property features AI

Exterior

• Parking: Attached garage (1 space)
• Utilities: City water connected; City sewer connected; Natural gas; Electric service with circuit breakers
• Home design: Residential property; One story
• Construction: Block foundation
• Exterior features: Stone and wood exterior; Lot dimensions approximately 62 x 74 x 60 x 74

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: 2 bedrooms (both on the main level)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Hot water heating; Radiant heating; No central air
• Interior features: Full, partially finished basement; Fireplace (1)
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $-488 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $139k (38.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $137k (39.1% below list).
• Recommended offer: $137k (39.1% below list) — sets the bar for 1% rule.
• Cap rate 3.7% 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 (+2.0%/yr); 212 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 583 units permitted in Eau Claire County in 2024 (325 in 5+ unit buildings).

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.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $136,956 (39.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1949 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. 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.
7. 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.
8. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.61% ✗
• Cap rate: 3.69%
• Cash-on-cash: -9.30%
• DSCR: 0.59
• GRM: 13.7

CMA / ARV

• ARV (on-the-fly): $251,904
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1022 3rd Ave	0.40mi	3/2.5 (+1)	1,744 (-11%)	1mo	$90,000	$52	55
633 Lake St	0.40mi	3/2.5 (+1)	1,897 (-4%)	17mo	$175,000	$92	54
1412 Park Ave	0.52mi	3/1.5 (+1)	1,880 (-4%)	10mo	$400,000	$213	53
618 6th Ave	0.35mi	3/2.0 (+1)	1,680 (-15%)	14mo	$215,000	$128	43
509 Earl St	0.65mi	3/2.0 (+1)	2,177 (+11%)	9mo	$210,000	$96	39
636 Union St	0.47mi	3/1.5 (+1)	1,729 (-12%)	23mo	$267,500	$155	32
344 Lincoln Ave	0.73mi	3/2.0 (+1)	1,708 (-13%)	22mo	$295,000	$173	21

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 · 2.01% rent growth · sell at horizon

5-year hold

• IRR: -33.9%
• Equity multiple: -0.09×
• Total profit: $-68,863
• Equity at exit: $33,548

10-year hold

• IRR: -49.2%
• Equity multiple: -0.67×
• Total profit: $-105,301
• Equity at exit: $19,454

Cash invested: $63,000 (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: 13.7×

Monthly cashflow live

• Estimated rent: $1,370 medium
• Mortgage (P&I): −$1,180
• Tax from tax record: −$296 /mo · $3,556/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$288
• Net cashflow: $-488

Break-even live

Break-even rent $1,987

Max offer price $138,789

Occupancy floor —

Sensitivity live

Price	-10% $-361	-5% $-424	+0% $-488	+5% $-552	+10% $-615
Rent	-10% $-596	-5% $-542	+0% $-488	+5% $-434	+10% $-380
Rate	-1.0pp $-375	-0.5pp $-431	base $-488	+0.5pp $-546	+1.0pp $-606

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
639 Niagara St Eau Claire, WI	3.0	1.0	1300	$1,300	$1.00	13d	1	0.43mi
2016 N Oxford Ave Eau Claire, WI	2.0	1.0–2.0	1023	$2,600	$2.54	13d	33	1.03mi

Listing history 3 events

1. 2026-05-22
   listed $225,000 Active 945-char remark

   Show marketing remark (945 chars)

   Fantastic opportunity awaits in this move-in ready 2-bedroom, 2-bathroom home perfectly situated directly across from the scenic Randall Park! This property boasts an unbeatable location within walking distance to the vibrant Water Street district and the UWEC campus, making it an ideal choice for homeowners or investors alike. Step inside to find a fresh and inviting interior featuring brand-new carpeting throughout. The cozy living area is anchored by a charming gas fireplace, perfect for relaxing evenings. Previously utilized as a successful student rental, this home has been well-maintained and is ready for its next chapter. Additional features include a full basement providing ample storage or potential for future expansion, and a shared driveway leading to a convenient 1-car garage. Don't miss your chance to own a piece of this sought-after neighborhood! The seller will look at all offers on Tuesday, May 26th. WI MLS# 1601387

2. 2026-05-22
   listed $225,000 Active 945-char remark

   Show marketing remark (945 chars)

   Fantastic opportunity awaits in this move-in ready 2-bedroom, 2-bathroom home perfectly situated directly across from the scenic Randall Park! This property boasts an unbeatable location within walking distance to the vibrant Water Street district and the UWEC campus, making it an ideal choice for homeowners or investors alike. Step inside to find a fresh and inviting interior featuring brand-new carpeting throughout. The cozy living area is anchored by a charming gas fireplace, perfect for relaxing evenings. Previously utilized as a successful student rental, this home has been well-maintained and is ready for its next chapter. Additional features include a full basement providing ample storage or potential for future expansion, and a shared driveway leading to a convenient 1-car garage. Don't miss your chance to own a piece of this sought-after neighborhood! The seller will look at all offers on Tuesday, May 26th. WI MLS# 1601387

3. 2026-05-21
   listed $225,000 Active 930-char remark

   Show marketing remark (930 chars)

   Fantastic opportunity awaits in this move-in ready 2-bedroom, 2-bathroom home perfectly situated directly across from the scenic Randall Park! This property boasts an unbeatable location within walking distance to the vibrant Water Street district and the UWEC campus, making it an ideal choice for homeowners or investors alike. Step inside to find a fresh and inviting interior featuring brand-new carpeting throughout. The cozy living area is anchored by a charming gas fireplace, perfect for relaxing evenings. Previously utilized as a successful student rental, this home has been well-maintained and is ready for its next chapter. Additional features include a full basement providing ample storage or potential for future expansion, and a shared driveway leading to a convenient 1-car garage. Don't miss your chance to own a piece of this sought-after neighborhood! The seller will look at all offers on Tuesday, May 26th.

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

Tax reassessment forecast WI · Partial reset (capped growth)

• Current annual tax: $3,556 · $296/mo
• Projected year-2 tax: $3,859 · $322/mo
• Expected delta: +$303/yr (+$25/mo · 8.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

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: $16,435
• − Mortgage interest: −$12,603
• − Property taxes: −$3,556
• − Insurance: −$1,125
• − Repairs & maintenance: −$1,315
• − Management: −$1,315
• − Depreciation: −$6,545
• Taxable loss: −$10,024
• Est. tax savings @ 24.0%: +$2,406
• After-tax cash flow: $-3,450/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: 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

+0.0% since first listed

3 events — show timeline

• 2026-05-22 Listed $225,000 WWRA
• 2026-05-22 Listed $225,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-21 Listed $225,000 RANWW

Property tax history

+4.8%/yr

Latest (2025): $3,556 · +0.6% YoY. Source: county tax records.