Four-Unit Remodeled
For Sale
Under Contract
$350,000
36 W Eau Claire Street, Rice Lake, WI 54868
ResidentialIncome, Rice Lake, WI
Property Size2,728 SF
Lot Size0.12 Acres
Price / SF$128.30
Days on Market100
Property Features for 36 W Eau Claire Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning description
Commercial
Rooms
Basement
Parking features
Driveway
Patio and Porch features
Deck
Appliances
ElectricWaterHeater, Oven, Range, Refrigerator
Elementary school district
Rice Lake Area
Middle school district
Rice Lake Area
High school district
Rice Lake Area
Directions
Main St to West on Eau Claire St to property on Left
Standard status
Active Under Contract
APN
276-1885-34-000
Size
2,728 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
PLATS 16-2 & 17-1 N 66 FT OF W 13.2 FT OF LOT 16 BLK 15 & N 66 FT LOT 17 BLK 15 ORIGINAL PLAT CITY OF RICE LAKE
Tax Annual Amount
2963
Legal Description
PLATS 16-2 & 17-1 N 66 FT OF W 13.2 FT OF LOT 16 BLK 15 & N 66 FT LOT 17 BLK 15 ORIGINAL PLAT CITY OF RICE LAKE
Utilities
Sewer type
Public Sewer
Heating system
Baseboard
Water source
Public
Building Details
Year built
1940
Number of units
4
Building materials
CompositeSiding
Listing Agency:
Real Estate Solutions
(715) 719-0555
Listed By:
Casey Watters · License #52542-90
(715) 434-7904
Added: May 27
Changed: Aug 21
Last Checked: Sep 3 at 8:06AM
MLS# 1602204
Copyright © 2026 REALTORS® Association of Northwestern Wisconsin. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,728-square-foot quadplex contains four residential units, including two 2-bedroom apartments and two 1-bedroom apartments. Each unit includes a private bathroom. Interior remodeling complements a 2022 electrical rewire, while the property also features composite siding and a roof installed after the 2023 hailstorms.
The 0.12-acre property is located one block from Main Street in Rice Lake, with downtown, grocery stores, schools, shopping, dining, and other daily amenities within walking distance. Public water and public sewer serve the building. Additional features include baseboard heating, a driveway, a deck, and a basement. Built in 1940, the property is equipped with an electric water heater, oven, range, and refrigerator.
The 0.12-acre property is located one block from Main Street in Rice Lake, with downtown, grocery stores, schools, shopping, dining, and other daily amenities within walking distance. Public water and public sewer serve the building. Additional features include baseboard heating, a driveway, a deck, and a basement. Built in 1940, the property is equipped with an electric water heater, oven, range, and refrigerator.
Key Highlights
- Four‑unit configuration with two 2‑bedroom units and two 1‑bedroom units
- 2,728 square feet on a 0.12‑acre lot
- Each unit includes a private bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$12,063
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.45%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$241,260
$241.3K
Cap Rate 7%
$172,329
$172.3K
Cap Rate 9%
$134,033
$134.0K
Market Conditions
NOI Build-Up for 2,728 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$18.3K $6.72/SF
− Vacancy
−$1.1K −$0.40/SF
EGI
$17.2K $6.32/SF
− OpEx
−$5.2K −$1.90/SF
NOI
$12.1K $4.42/SF
Area
Barron County, WI
Vacancy
6.00%
Lease Rate
$6.72 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$241,260
Cap Rate 7%
$172,329
Cap Rate 9%
$134,033
Alternative Uses
Best Use
Multifamily LT 5
$172.3K
$150.8K – $201.1K
NOI $12,063 @ 7.0% cap · market cap 3.45%
Second Best
Apartment 5plus
$162.1K
$141.9K – $189.1K
NOI $11,348 @ 7.0% cap · market cap 3.24%
Theoretical Best
Warehouse
$2.19M
$1.92M – $2.56M
NOI $153,431 @ 7.0% cap · market cap 43.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
578
Businesses Nearby
Explore this area
Business Placement
Demographics for 54868, WI
15,785
Population
7,640
Households
2.1
Avg Household Size
44
Median Age
25%
College-Educated
94%
High-School Grad
212.0 sq mi
ZIP Area
74
Density / Sq Mi
$64,567
Median Household Income
$40,474
Median Earnings
$850
Median Rent
$199,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Remodeled rental property with a balanced mix of one- and two-bedroom units near downtown amenities.
Where is this quadplex located?
The property is located at 36 W Eau Claire Street Rice Lake, WI.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Four‑unit configuration with two 2‑bedroom units and two 1‑bedroom units; 2,728 square feet on a 0.12‑acre lot; Each unit includes a private bathroom
