516 Cochrane St Unit 1&2 · Eau Claire, WI 54703

$174,900

3 bd · 2.0 ba · 1,668 sqft · MultiFamily · 40 Days on market

Built 1898 Average condition 3,920 sqft lot $105/sqft · 18% below area Est $213k · 18% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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: 1 unit. estimate disagrees with records

Listing remarks

Well-maintained duplex with a 2 bed, 1 bath lower unit and a 1 bed, 1 bath upper unit. Both units are clean, functional, and easy to rent, making this a solid investment property or a good option to live in one unit and rent the other. The property has been cared for and offers a simple, low-maintenance setup with steady rental potential and flexible use.

Key facts

• 3,920 sq ft lot
• Built 1898
• Listed 39 days

Property features AI

Exterior

• Utilities: Municipal water; Municipal sewer
• Home design: Duplex (multi-family)
• Construction: Estimated finished above-grade living area approximately 1,668
• Exterior features: Vinyl exterior; Lot size approximately 0.09 acres

Interior

• Kitchen: Dishwasher; Microwave; Range/Oven; Refrigerator
• Bedrooms: Unit 1: 2 bedrooms; Unit 2: 1 bedroom
• Bathrooms: Unit 1: 1 full bath; Unit 2: 1 full bath
• Heating & cooling: Wall/sleeve air; Baseboard heat; Forced air heating; Natural gas fuel
• Interior features: Circuit breakers
• Laundry & utility: Washer and dryer excluded from sale

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $175k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $175k).
• Recommended offer: $170k (3.0% below list) — sets the bar for market timing.
• Cap rate 14.1% 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; 10 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 40% 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).
• At $2,978/mo this rent would consume 50% 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 $1k of loan paydown is wiped out by about $5k 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 $49k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($170k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1898 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $169,653 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1898 — 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. 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.
6. 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.
7. 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: 1.70% ✓
• Cap rate: 14.14%
• Cash-on-cash: 28.03%
• DSCR: 2.25
• GRM: 4.9

CMA / ARV

• ARV (median comp): $213,304
• List price: $174,900
• Delta: -18.00%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 21.1%
• Equity multiple: 1.85×
• Total profit: $41,623
• Equity at exit: $26,078

10-year hold

• IRR: 28.6%
• Equity multiple: 3.42×
• Total profit: $118,427
• Equity at exit: $15,122

Cash invested: $48,972 (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: 9.2×

Monthly cashflow live

• Estimated rent: $2,978 high
• Mortgage (P&I): −$917
• Tax est. 1.5%: −$219 /mo · $2,624/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$625
• Net cashflow: $1,144

Break-even live

Break-even rent $1,530

Max offer price $174,900

Occupancy floor 57%

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

Units	Beds	Baths	Est. rent
1× unit	2	1	$1,583
1× unit	1	1	$1,395
Total (2 units)			$2,978

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: $43,725
• Closing costs: $5,247
• Reserves months: —
• Total cash needed: —

Rent comps 10 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	13d	20	0.51mi
100 N Farwell St Eau Claire, WI	2.0	1.0–2.0	787	$2,950	$3.75	13d	13	0.51mi
315 Riverfront Ter Eau Claire, WI	1.0–2.0	1.0–2.0	974	$1,725	$1.77	43d	10	0.59mi
325 Main St Eau Claire, WI	2.0	1.0–2.0	777	$2,300	$2.96	43d	39	0.66mi
2016 N Oxford Ave Eau Claire, WI	2.0	1.0–2.0	1023	$2,600	$2.54	13d	33	0.85mi
1014 Oxford Ave Unit 1/2 Eau Claire, WI	4.0	1.0	1244	$1,396	$1.12	43d	1	0.92mi
816 Porter Ave Unit 211 Eau Claire, WI	2.0	1.5	1074	$2,450	$2.28	43d	1	0.94mi
816 Porter Ave Eau Claire, WI	2.0	1.0–1.5	1013	$2,200	$2.17	13d	3	0.95mi
2775 Patrick John Dr Eau Claire, WI	1.0–2.0	1.0–2.0	1070	$1,795	$1.68	13d	12	1.31mi
639 Niagara St Eau Claire, WI	3.0	1.0	1300	$1,300	$1.00	13d	1	1.46mi

Listing history 10 events

1. 2026-06-10
   days on market $174,900 Active 40 DOM
2. 2026-06-09
   days on market $174,900 Active 39 DOM
3. 2026-06-08
   days on market $174,900 Active 38 DOM
4. 2026-06-07
   days on market $174,900 Active 37 DOM
5. 2026-06-05
   days on market $174,900 Active 34 DOM
6. 2026-06-02
   days on market $174,900 Active 32 DOM
7. 2026-06-01
   days on market $174,900 Active 31 DOM
8. 2026-05-31
   days on market $174,900 Active 30 DOM
9. 2026-05-30
   days on market $174,900 Active 29 DOM
10. 2026-05-01
    listed $174,900 Active 357-char remark

ⓘ 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: $35,736
• − Mortgage interest: −$9,797
• − Property taxes: −$2,624
• − Insurance: −$874
• − Repairs & maintenance: −$2,859
• − Management: −$2,859
• − Depreciation: −$5,088
• Taxable income: $11,635
• Est. tax owed @ 24.0%: −$2,792
• After-tax cash flow: $10,935/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 · 12 photos

Average 55/100 Moderate rehab

A moderately rehabbed duplex with average condition, requiring updates to paint, fixtures, flooring, and HVAC for improved resale and rental value.

Repairs flagged

• Moderate Kitchen cabinets — Worn and dated appearance
• Moderate Bathroom fixtures — Worn and dated appearance
• Minor Exterior siding — Some wear and tear
• Moderate Carpeted floors — Worn appearance
• Moderate Paint — Faded in some areas
• Moderate Windows — Signs of wear
• Minor HVAC unit — May need maintenance

Value-add opportunities

• Both Painting and updating fixtures in bathrooms and kitchen — Enhances curb appeal and interior aesthetics
• Both Replacing worn carpet with hardwood or tile — Improves durability and aesthetics
• Both Updating HVAC unit — Improves comfort and energy efficiency
• Both Landscaping improvements — Enhances curb appeal and property value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Worn and dated appearance	Moderate	$3,000–15,000
Bathroom fixtures · Worn and dated appearance	Moderate	$3,000–15,000
Exterior siding · Some wear and tear	Minor	$500–3,000
Carpeted floors · Worn appearance	Moderate	$3,000–15,000
Paint · Faded in some areas	Moderate	$3,000–15,000
Windows · Signs of wear	Moderate	$3,000–15,000
HVAC unit · May need maintenance	Minor	$500–3,000
Total estimated repair cost · 7 items		$16,000–81,000

Value-add ROI direction

• Both Painting and updating fixtures in bathrooms and kitchen — Enhances curb appeal and interior aesthetics ↑
• Both Replacing worn carpet with hardwood or tile — Improves durability and aesthetics ↑
• Both Updating HVAC unit — Improves comfort and energy efficiency ↑
• Both Landscaping improvements — Enhances curb appeal and property 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

2 events — show timeline

• 2026-06-12 Listing Removed — RANWW
• 2026-05-01 Listed $174,900 RANWW