2306 4th St · Eau Claire, WI 54703

$289,900

4 bd · 3.0 ba · 1,792 sqft · MultiFamily public records · 63 Days on market

Built 1881 8,712 sqft lot $162/sqft · 34% above area Est $217k · 34% over

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.6/10.0
• Livability +4.5/5.0
• Schools +3.5/10.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Rare find! Check out this great cash-flowing triplex in the heart of Eau Claire. Close proximity to downtown and UW Eau Claire means there's always high demand and a great tenant base to choose from. This triplex is fully occupied with great long term and paying tenants who are on month-to-month leases giving the new owner great flexibilty and cash flow from day 1, or perfect for an owner occupier looking to have tenants cover your mortgage expenses. This fantastic property surely will not last long. Schedule your showing today!

Key facts

• Great tenant base
• Owner occupier
• Fully occupied

Tags

• CASH-FLOWING TRIPLEX
• CLOSE PROXIMITY TO DOWNTOWN
• FULLY OCCUPIED
• GREAT TENANT BASE
• MONTH-TO-MONTH LEASES
• OWNER OCCUPIER

What this means for you Summary

Snapshot

• This is a 3 × 4-bed/3.0-bath units multifamily listed at $290k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive. Per door: $467/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $290k).
• Recommended offer: $273k (6.0% below list) — sets the bar for market timing.
• Cap rate 12.1% 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; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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 $4,234/mo this rent would consume 71% 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 $9k 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 $81k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 63 days — a 6% lower offer ($273k) is reasonable based on typical stale-listing flexibility.
• 2 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.
• Current owner paid $240k; 21% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

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

Recommended offer $272,506 (6.0% below list)

Questions for the listing agent

1. It's been on market 63 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1881 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 1.46% ✓
• Cap rate: 12.10%
• Cash-on-cash: 20.73%
• DSCR: 1.92
• GRM: 5.7

CMA / ARV

• ARV (median comp): $216,669
• List price: $289,900
• Delta: 33.80%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1424 Mappa St #2	0.63mi	4/2.0	2,040 (+14%)	4mo	$245,000	$120	40

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: 12.0%
• Equity multiple: 1.47×
• Total profit: $38,199
• Equity at exit: $43,225

10-year hold

• IRR: 20.2%
• Equity multiple: 2.62×
• Total profit: $131,592
• Equity at exit: $25,065

Cash invested: $81,172 (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: 17.1×

Monthly cashflow live

• Estimated rent: $4,234 medium
• Mortgage (P&I): −$1,520
• Tax from tax record: −$301 /mo · $3,616/yr
• Insurance: −$121
• HOA: −$0
• Vacancy / Maint / Mgmt: −$889
• Net cashflow: $1,402

Break-even live

Break-even rent $2,459

Max offer price $289,900

Occupancy floor 62%

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

Units	Beds	Baths	Est. rent
▸ 3× units	4	3	$4,233
Total (3 units)			$4,234

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: $72,475
• Closing costs: $8,697
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1014 Oxford Ave Unit 1/2 Eau Claire, WI	4.0	1.0	1244	$1,396	$1.12	44d	1	0.98mi
1127 Glenn Pl Unit Left Eau Claire, WI	3.0	2.0	1950	$1,850	$0.95	44d	1	1.32mi
639 Niagara St Eau Claire, WI	3.0	1.0	1300	$1,300	$1.00	13d	1	1.32mi
315 9th Ave Eau Claire, WI	4.0	1.0	1260	$1,425	$1.13	13d	1	1.34mi

Listing history 21 events

1. 2026-06-19
   days on market $289,900 Active 63 DOM
2. 2026-06-18
   days on market $289,900 Active 62 DOM
3. 2026-06-17
   days on market $289,900 Active 61 DOM
4. 2026-06-16
   days on market $289,900 Active 60 DOM
5. 2026-06-15
   days on market $289,900 Active 59 DOM
6. 2026-06-13
   days on market $289,900 Active 56 DOM
7. 2026-06-10
   days on market $289,900 Active 54 DOM
8. 2026-06-09
   days on market $289,900 Active 53 DOM
9. 2026-06-08
   days on market $289,900 Active 52 DOM
10. 2026-06-07
    days on market $289,900 Active 51 DOM
11. 2026-06-05
    days on market $289,900 Active 48 DOM
12. 2026-06-02
    days on market $289,900 Active 46 DOM
13. 2026-06-01
    days on market $289,900 Active 45 DOM
14. 2026-05-31
    days on market $289,900 Active 44 DOM
15. 2026-05-30
    days on market $289,900 Active 43 DOM
16. 2026-04-16
    listed $289,900 Active 534-char remark

    Show marketing remark (534 chars)

    Rare find! Check out this great cash-flowing triplex in the heart of Eau Claire. Close proximity to downtown and UW Eau Claire means there's always high demand and a great tenant base to choose from. This triplex is fully occupied with great long term and paying tenants who are on month-to-month leases giving the new owner great flexibilty and cash flow from day 1, or perfect for an owner occupier looking to have tenants cover your mortgage expenses. This fantastic property surely will not last long. Schedule your showing today!

17. 2025-12-19
    historical
18. 2025-09-02
    listed $299,900 Active
19. 2022-07-18
    soldstatus $240,000
20. 2001-04-16
    soldstatus $31,700
21. 1990-12-01
    soldstatus $31,615

ⓘ 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: $3,616 · $301/mo
• Projected year-2 tax: $4,489 · $374/mo
• Expected delta: +$874/yr (+$73/mo · 24.2%)

ⓘ 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 ≥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: $50,808
• − Mortgage interest: −$16,239
• − Property taxes: −$3,616
• − Insurance: −$1,450
• − Repairs & maintenance: −$4,065
• − Management: −$4,065
• − Depreciation: −$8,433
• Taxable income: $12,941
• Est. tax owed @ 24.0%: −$3,106
• After-tax cash flow: $13,724/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

+817.0% since first listed

6 events — show timeline

• 2026-04-16 Listed $289,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-12-19 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2025-09-02 Listed $299,900 NORTHSTARMLS as Distributed by MLS Grid
• 2022-07-18 Sold (Public Records) $240,000 Public Records
• 2001-04-16 Sold (Public Records) $31,700 Public Records
• 1990-12-01 Sold (Public Records) $31,615 Public Records

Property tax history

+5.4%/yr

Latest (2025): $3,616 · +2.2% YoY. Source: county tax records.