717 Balcom St #2 · Eau Claire, WI 54703

$149,999

3 bd · 2.0 ba · 1,472 sqft · Condo · 15 Days on market

Built 1881 Fair condition Est $165k · 9% under

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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 +27.6/30.0
• ARV discount +11.6/15.0
• DSCR +9.7/10.0
• 1% rule +7.5/10.0
• Livability +4.5/5.0
• Schools +3.5/10.0
• Rent growth +3.0/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Looking to add to your rental portfolio, or have you always wanted to own a rental but found most of them not affordable. Then look no further, this rental is all set for you. Both units are rented and have long term tenants. The lower unit is a 1 bed 1 bath while the upper unit is a 2 bed 1 bath. Mechanically and maintenance wise this property is doing very well. It could use some cosmetic updates potentailly with tenant turnover. The price is right for this house so grab it before its to late.

Key facts

• 8,712 sq ft lot
• Built 1881
• Listed 14 days

Property features AI

Exterior

• Utilities: Municipal water; Municipal sewer; Electric service
• Home design: Duplex (multi-family)
• Construction: Estimated 1,472 finished above-grade square feet
• Exterior features: Vinyl exterior; Lot about 0.2 acres (under 1/2 acre)

Interior

• Bedrooms: Unit 1: 1 bedroom; Unit 2: 2 bedrooms
• Bathrooms: Unit 1: 1 full bathroom; Unit 2: 1 full bathroom
• Heating & cooling: Baseboard heating (electric); Wall A/C
• Interior features: Circuit breakers; Cellar (block foundation)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $150k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $448 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $148k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.9% 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; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 43% of comp listings sitting > 30 days — soft ceiling on asking rent; 583 units permitted in Eau Claire County in 2024 (325 in 5+ unit buildings).
• This rent runs 32% of the median local income ($72k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k 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 + 2.0% rent growth), your $42k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($148k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1881 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $147,749 (1.5% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1881 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 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: 1.25% ✓
• Cap rate: 9.88%
• Cash-on-cash: 12.80%
• DSCR: 1.57
• GRM: 6.7

CMA / ARV

• ARV (on-the-fly): $164,864
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1179-1179 1/2 E Madison St #2	0.38mi	2/2.0 (-1)	1,464 (-0%)	12mo	$195,000	$133	66
1105 Bellevue Ave Unit 1-2	0.38mi	4/2.0 (+1)	1,663 (+13%)	6mo	$169,900	$102	50
641 Franklin St Unit 1 & 2	0.26mi	3/2.0	1,264 (-14%)	17mo	$175,000	$138	50
623 Barstow St Unit 1 & 1/2	0.64mi	3/2.0	1,610 (+9%)	7mo	$100,000	$62	49
572-572 1/2 Erin St #2	0.41mi	4/2.0 (+1)	1,634 (+11%)	16mo	$182,500	$112	44
1114 E Madison St Unit 1&2	0.32mi	3/2.0	1,678 (+14%)	21mo	$160,000	$95	44
851 E Grand Ave Unit 1&2	0.65mi	3/2.0	1,602 (+9%)	22mo	$212,000	$132	36

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: 1.5%
• Equity multiple: 1.06×
• Total profit: $2,404
• Equity at exit: $22,365

10-year hold

• IRR: 10.1%
• Equity multiple: 1.75×
• Total profit: $31,495
• Equity at exit: $12,969

Cash invested: $42,000 (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: 6.7×

Monthly cashflow live

• Estimated rent: $1,879 high
• Mortgage (P&I): −$787
• Tax est. 1.5%: −$187 /mo · $2,250/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$395
• Net cashflow: $448

Break-even live

Break-even rent $1,312

Max offer price $149,999

Occupancy floor 71%

Sensitivity live

Price	-10% $552	-5% $500	+0% $448	+5% $396	+10% $344
Rent	-10% $300	-5% $374	+0% $448	+5% $522	+10% $596
Rate	-1.0pp $524	-0.5pp $486	base $448	+0.5pp $409	+1.0pp $370

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
224 N Barstow St Eau Claire, WI	1.0–2.0	1.0–2.0	828	$2,350	$2.84	14d	20	0.75mi
100 N Farwell St Eau Claire, WI	2.0	1.0–2.0	787	$2,950	$3.75	14d	13	0.76mi
222 Wisconsin St Eau Claire, WI	1.0–2.0	1.0	981	$1,400	$1.43	44d	3	0.81mi
315 Riverfront Ter Eau Claire, WI	1.0–2.0	1.0–2.0	974	$1,725	$1.77	44d	10	0.82mi
325 Main St Eau Claire, WI	2.0	1.0–2.0	777	$2,300	$2.96	44d	39	0.91mi
2016 N Oxford Ave Eau Claire, WI	2.0	1.0–2.0	1023	$2,600	$2.54	14d	33	1.01mi
510 Washington St Eau Claire, WI	4.0	2.0	1000	$1,450	$1.45	14d	1	1.13mi
2775 Patrick John Dr Eau Claire, WI	1.0–2.0	1.0–2.0	1070	$1,795	$1.68	14d	12	1.16mi
1014 Oxford Ave Unit 1/2 Eau Claire, WI	4.0	1.0	1244	$1,396	$1.12	44d	1	1.17mi
1211 S Dewey St Eau Claire, WI	4.0	1.0	1000	$1,448	$1.45	14d	2	1.17mi
816 Porter Ave Unit 211 Eau Claire, WI	2.0	1.5	1074	$2,450	$2.28	44d	1	1.18mi
816 Porter Ave Unit 207 Eau Claire, WI	2.0	1.0	952	$2,400	$2.52	44d	1	1.18mi
816 Porter Ave Eau Claire, WI	2.0	1.0–1.5	1013	$2,200	$2.17	14d	3	1.19mi
616 Ripley Ave Eau Claire, WI	3.0	1.0	900	$1,365	$1.52	14d	1	1.37mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 12 events

1. 2026-06-19
   days on market $149,999 Active 15 DOM
2. 2026-06-18
   days on market $149,999 Active 14 DOM
3. 2026-06-17
   days on market $149,999 Active 13 DOM
4. 2026-06-16
   days on market $149,999 Active 12 DOM
5. 2026-06-15
   days on market $149,999 Active 11 DOM
6. 2026-06-13
   pricedays on market $149,999 Active 8 DOM
7. 2026-06-10
   days on market $159,999 Active 6 DOM
8. 2026-06-09
   days on market $159,999 Active 5 DOM
9. 2026-06-08
   days on market $159,999 Active 4 DOM
10. 2026-06-07
    days on market $159,999 Active 3 DOM
11. 2026-06-05
    remarks 500-char remark
12. 2026-06-05
    listed $159,999 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 ≥97°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: $22,551
• − Mortgage interest: −$8,402
• − Property taxes: −$2,250
• − Insurance: −$750
• − Repairs & maintenance: −$1,804
• − Management: −$1,804
• − Depreciation: −$4,364
• Taxable income: $3,177
• Est. tax owed @ 24.0%: −$763
• After-tax cash flow: $4,614/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

Fair 45/100 Moderate rehab

This rental property requires moderate renovations to improve its condition and increase its value. The kitchen and bathrooms need significant updates, and the property could benefit from landscaping and cleaning.

Repairs flagged

• Major kitchen appliances — outdated and in poor condition
• Minor bathroom fixtures — standard but some wear

Value-add opportunities

• Both kitchen renovation — modernizing the kitchen would significantly increase both resale and rental value
• Both landscaping — improving the curb appeal would attract more buyers and renters

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen appliances · outdated and in poor condition	Major	$15,000–50,000
bathroom fixtures · standard but some wear	Minor	$500–3,000
Total estimated repair cost · 2 items		$15,500–53,000

Value-add ROI direction

• Both kitchen renovation — modernizing the kitchen would significantly increase both resale and rental value ↑
• Both landscaping — improving the curb appeal would attract more buyers and renters ↑

ⓘ 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

• 2026-06-04 Listed $159,999 RANWW