Presented by
Andrew Jeffers
Jack Mielke
Michael Lewis
Address: 330 Roosevelt Avenue
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| Image 1: 330 Roosevelt Ave as seen from Wilson St |
This house is located at 330 Roosevelt Avenue in Eau Claire, WI (Image 1). According to Zillow.com, the house is currently priced at $209,900. This ranch-style home has 4 bedrooms, 2.5 bathrooms, is 3,718 square feet, a large basement, and an attached two car garage. It is conveniently located on a corner lot one block off of State St and is within close proximity to Putnam Park, Clairemont Avenue, Water Street, and downtown Eau Claire. The lot size is a large 12,800 square feet, and as of 2016, net property taxes totaled $4,666.74.
Comparable Homes
Other Houses for Sale in the Area
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| Table 1: Comparing other houses for sale |
Table 1 shows this house compared to other houses in the area that are for sale. With the exception of the two outliers on Oakwood and Marston, 330 Roosevelt has the most square feet (3718) of any house and also the cheapest prices per square foot ($56) which is well below the average amount of $94.90. It also has among the most bedrooms with four.
Corner Lots
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| Table 2: Comparing other houses on nearby corner lots |
Table 2 shows this house compared to other nearby houses on corner lots within one block of State Street. It has the largest lot with 12,800 square feet and the lowest price per square foot ($3.42) which falls below the average of $3.67. It also has very low tax per square foot ($0.36) which is below the average of $0.47.
The Third Ward
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| Figure 1: Eau Claire neighborhoods |
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| Figure 2: The Third Ward |
The house is located in the Third Ward Neighborhood in Eau Claire (Figure 1). The Third Ward is a unique neighborhood that offers a variety of benefits to its residents (Figure 2). The neighborhood is centrally located so that it is close to downtown Eau Claire, parks, and services. Many of the houses have a historic architecture that is not resembled by any other neighborhoods in the city. The neighborhood is within walking distance to the University of Wisconsin-Eau Claire, which provides the neighborhood with ample amounts of events and amenities such as close bus routes and a respectable educational institution nearby. Putnam Park is a 230-acre park that is located along the east and south sides of the Third Ward. This park offers the ability to walk along trails and enjoy many different types of animals and plants. It is not common that a neighborhood in the middle of a city has the benefit of a park nearby where residents can enjoy the peace that is associated with the park. Along with having the park nearby, the neighborhood is also close to the Chippewa River. The river has parks along its banks that are within walking distance of the neighborhood and there are also spots where you can walk right up to the river. The Third Ward also has Demmler Community Garden. This garden allows families and individuals to buy plots and plant what they want in the garden. The garden helps to keep the neighborhood looking nice and adds to the green spaces that help give the neighborhood its uniqueness.
Third Ward Neighborhood Association
Most neighborhoods in the city have their own neighborhood assocation. The Third Ward is no exception and arguably has the best association in the city. The association meets every second Wednesday of the month and has strict regualations on what is and is not permitted in the Third Ward. This group not only protects the ideals of the Third Ward but also protects property values. The group maintains a level of expectation that keeps the Third Ward being known as an upscale neighborhood. The regulation topics that they discuss are as follows:
- Sanitation - All trash, recycling, and yard waste must be disposed of in a clean and visually appealing manner
- Parking - Limit on how long you can park in the street and requirements for parking on driveways (not on grass or dirt)
- Building Upkeep - Owners are required to keep their home in a visually appealing state, including repainting and updating homes
Schools
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| Figure 3: Drive time for Manz Elementary |
There are many schools in the area that service the Eau Claire area. For this property, the three schools are Manz Elementary, Delong Middle, and Memorial High. These schools get a rating from GreatSchools.org, a third party that evaluates schools based on test scores. This evaluation is used to help judge the quality of education in the surrounding area.
Figure 3 shows the drive times from Manz Elementary School. Our house is on the border of the 4-minute and 6-minute range making the drive to this school about 5 minutes. Manz Elementary has a rating of 6 out of 10 according to GreatSchools.org.
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| Figure 4: Drive time for DeLong Middle |
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| Figure 5: Drive time for Memorial High |
Figure 5 shows the drive times from Memorial High School. The house is on the border of the 4-minute and 6-minute ranges making the drive about 5 minutes. Memorial High has a 7 out of 10 rating according to GreatSchools.org. Having a quality high school so close to the house is a great benefit.
Our Price - $220,000
Based on our house and all of the factors associated with it, we came to a final price of $220,000.
There are other houses in the area that have a lot less square footage and are priced higher than our house's Zillow price of $209,900. It is in a great neighborhood and close to downtown Eau Claire which is a nice feature. It does not appear that much work has been done to the house over the years which is why we did not price it higher.
Sources
"Schools in Eau Claire," http://www.greatschools.org/search/search.page?q=eau+claire
"Third Ward Neighborhood," http://thirdward.org/
"Third Ward Neighborhood," http://thirdward.org/
"2015 Comprehensive Plan," last modified September 22, 2015, http://www.ci.eau-claire.wi.us/departments/community-development/planning/comprehensive-plan.
"330 Roosevelt Ave, Eau Claire, WI 54701," last modified March 21, 2017, https://www.zillow.com/homes/330-Roosevelt-Ave,-Eau-Claire,-WI-54701_rb/
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