Real Estate Assessment (Geog 352)

330 Roosevelt Avenue

Presented by 

Jack Mielke
 Michael Lewis
Andrew Jeffers

The House

https://www.zillow.com

       Our house is located at 330 Roosevelt Avenue in Eau Claire. On Zillow, it is priced at $209,900. The house has four bedrooms, 2.5 bathrooms, has an area of 3,718 square feet, and has an attached two car garage.  It is a one story house with a basement.  The house is conveniently located on a corner lot and also has a deck that goes outside to the backyard.  The amount of property taxes to be paid each year for the house is about $4,666.    

Similar Houses

       Table 1 shows our 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 of any house and the cheapest price per square foot.  Having four bedrooms is also near the top of all of these houses.     

Table 1

The Third Ward

  http://www.discountrealtyworks.
      The house is located in the Third Ward Neighborhood in Eau Claire.  The Third Ward is a unique neighborhood that offers a variety of benefits to its residents.  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 comes along with a 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

Meets every 2nd Wednesday of the month. Holds strict regulations on what is and is not permitted within the third ward district. Regulation topics include:
  • Sanitation - trash, recycling, 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/dirt)
  • Building upkeep - owners are required to keep their home in a visually appealing state, including repainting and updating homes

This group of concerned residents not only protect the ideals of the Third Ward, but also the property values. Maintaining this level of expectations keeps the Third Ward being known as a upscale Eau Claire neighborhood.

Schools

      There are many schools in the area that service Eau Claire.  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. There ratings are 6, 4, 7, respectively.
       Figure 1 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. 
Figure 1

      Figure 2 shows the drive times from Delong Middle School.  Our house is in the 12-minute range.  Out of the three schools, Delong has the longest drive time from 330 Roosevelt Ave.  Delong Middle School has a rating of 4 out of 10 according to GreatSchools.org.  

Figure 2

       Figure 3 shows the drive times from Memorial High School.  Our 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.
Figure 3











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

 
"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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