Most tankless water heater shopping guides treat Menards as an afterthought next to Home Depot and Lowe’s, but it’s actually the only big-box retailer on this site stocking three genuinely different brand tiers at once — not just one house brand with a different name on the box. That matters because the same 199,000-BTU output class is priced differently depending on which of the three badges you pick, and the winner isn’t the name you’d expect. Here’s what’s actually on the shelf, what the 11% rebate is worth in practice, and where Menards’ return policy is tighter than the other big boxes.
What Menards actually stocks
| Richmond | Rheem Prestige | State | |
|---|---|---|---|
| What it is | Rheem's value/private-label badge | Rheem's own name, pro-channel naming | A.O. Smith's contractor-channel brand |
| Example model | RMTG-70DVLN-3 (7.0 GPM gas) | RTGH-95DVLN (9.5 GPM condensing gas) | GTS-540-NIH (199,000 BTU condensing gas) |
| Price at Menards | ~$799 | $799.99 | $699.99 |
| Heat-exchanger warranty | 12-year (Encore/RMTGH line) | 12-year | 15-year |
| Also sold at | Menards-exclusive | Home Depot (as ECOH/ECOHS), plumbing wholesale (as RTGH) | Plumbing wholesale, rarely other big-box |
Prices and terms per Menards' current listings and 2026 promotional pricing as of September 2026; in-store availability and the 11% rebate promotion window vary by region and can change without notice.
By the numbers
- $699.99 vs. $799.99 — the Menards shelf price gap between the State GTS-540-NIH and the Rheem RTGH-95DVLN, two condensing gas units in the same 199,000 BTU output class. — per Menards’ current listings
- 15 years vs. 12 years — State’s heat-exchanger warranty on the ProLine XE condensing line versus Rheem’s term on the equivalent RTGH condensing platform, a real coverage edge on top of the lower price. — per State Water Heaters’ and Rheem’s published warranty terms
- 11% — the size of Menards’ mail-in rebate on qualifying tankless water heater purchases, paid out as store credit good only on a future Menards purchase, not cash and not valid on Menards.com orders. — per Menards’ rebate program terms
1. State ProLine XE GTS-540-NIH — Best Value for Full BTU Output
State ProLine XE GTS-540-NIH Condensing Natural Gas Tankless
- Same 199,000 BTU output class as Rheem's RTGH-95DVLN, but $100 cheaper at Menards and backed by a longer 15-year heat-exchanger warranty against Rheem's 12-year term on the equivalent platform.
- State is A.O. Smith's contractor-channel brand — our State tankless lineup guide covers the shared-platform relationship in depth — but this specific model is a rare case of State showing up on a big-box shelf rather than through a plumbing wholesaler only.
- Direct-vent design rated for venting runs up to 100 feet, useful if your install location is far from an exterior wall.
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2. Rheem Prestige RTGH-95DVLN — Best if You Want the Rheem Badge Specifically
Rheem Prestige RTGH-95DVLN Condensing Natural Gas Tankless
- This is Rheem's real Prestige/RTGH naming — the same model name a plumber would quote through pro-channel supply — not the RETEX/ECOH retail-tier naming Home Depot and Lowe's stock, per our Rheem lineup guide's naming decoder.
- Qualifying purchases stack with Menards' 11% mail-in rebate, paid as store credit rather than an upfront discount — factor the redemption-only-in-store restriction into whether it's worth the paperwork for you.
- If you'd rather shop Rheem's value-tier badge instead — same manufacturer, lower price, shorter warranty — see our Richmond tankless water heater guide, also Menards-exclusive.
What the rebate and return policy don’t tell you upfront
- The 11% rebate isn’t a price cut at checkout. You pay full price, then mail in for a Rebate Credit Check worth 11% of the purchase — and that credit only spends on a future Menards purchase, not online at Menards.com and not as cash back. It’s real value if you’re a repeat Menards shopper who’ll use the credit; it’s dead weight if this is a one-time purchase.
- The defect-return window is shorter than Home Depot or Lowe’s. Menards gives you 90 days to return an unused, original-packaging major appliance, but a manufacturing-defect claim on an already-installed unit needs to be raised within 7 days of purchase, and shipping damage has to be flagged within 48 hours of delivery — tighter than the 90-day (or 365-day with a store credit card) window our Home Depot tankless water heater guide covers. Some tankless configurations also count as special orders, which can carry a 25% restocking fee — confirm which category applies before you buy.
- No in-house installer network. Home Depot and Lowe’s both dispatch a licensed contractor through their own booking flow; Menards doesn’t run an equivalent service for water heaters, so sourcing and vetting the plumber is entirely on you.
The bottom line
Menards is the only big-box retailer on this site stocking three separate tankless brand tiers — Richmond, Rheem’s own Prestige line, and State — at prices that stack with an 11% mail-in rebate, and the numbers this run actually favor the least-hyped badge: the State GTS-540-NIH undercuts the equivalent Rheem RTGH-95DVLN by $100 while carrying a longer warranty. What you give up versus Home Depot or Lowe’s is an in-house install-booking service and a few days of return-window breathing room. For the Rheem-badge deep dive see our best Rheem tankless water heater guide, for Rheem’s other Menards-exclusive value line see our Richmond guide, and for every brand ranked side by side regardless of retailer, start with our best tankless water heater roundup.