Just Closed on a Duplex in Eau Claire – Looking for Advice on Rehab Priorities

[Coty Schmidt]

We just purchased a duplex in the Eau Claire area. The downstairs currently has 3 inherited tenants, and the upstairs unit is vacant. It’s an older home, so in my underwriting I factored in:

• 10% for CapEx

• 10% for maintenance/repairs

• 5% vacancy

• Taxes and insurance

• A $20k rehab budget

Even with those numbers built in, the duplex still projects about $400/month in cash flow.

Current condition / planned updates:

• Outside: gutters need work, screened-in concrete patio has a large crack, and there are some shingle repairs needed.

• Upstairs unit: old carpets + laminate that’s separating (needs new flooring), no thermostat for temperature control, painting planned, and I’m hunting for a used bathroom vanity on Facebook Marketplace.

Questions for the group:

1. Interior priorities – Beyond flooring, painting, and vanity replacement, what would you focus on to make the upstairs more attractive to renters without overspending?

2. Washer/Dryer combo – Is it worth installing to boost appeal and rentability, or is it better to save the money?

3. Thermostat issue – Has anyone dealt with an upstairs tenant not having their own thermostat? Would a mini split be the best long-term solution?

4. Minimal vs. upgraded rehab – If the property has had a good rental history, would you keep the rehab minimal to save capital, or invest more upfront to maximize rent and tenant quality?

Looking forward to hearing what others would prioritize—trying to balance cash flow with smart upgrades that will pay off.