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    The Largest CRE Database in the US with Over 1 Million Listings

    W4981 Morros Mile Rd Necedah, WI 54646

    Sponsored
    For Sale
    Under Contract
    $699,900

    1 1/2 story,Farm, Log Home - Necedah, WI

    Type:Farm
    Property size:
    3,625 SF
    Lot size:
    7.86 Acres
    Days on Market:
    9
    Last Refresh:
    Jan 31 at 4:06 pm

    Property Features for W4981 Morros Mile Rd

    General Information

    Property type
    Residential
    Property subtype
    Farm
    Standard status
    Active Under Contract
    Zoning
    Residentia
    Rooms
    Basement, Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bathroom 5, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5, Dining Room, Family Room, Great Room, Kitchen, Laundry, Living Room, Loft
    Bedrooms
    5
    Bathrooms
    5
    APN
    290120289
    Parking
    4
    Parking features
    Garage, Heated, Paved or Surfaced, Underground/Basement
    Patio and Porch features
    Deck
    Interior features
    Wood or sim. wood floor, Walk-in closet(s), Vaulted ceiling, Washer, Dryer, Jetted bathtub, Wet bar, At Least 1 tub, Split bedrooms, Internet - DSL, Internet- Fiber available, Internet - Satellite/Dish
    Exterior features
    Deck, Gazebo, Barn(s)
    Fireplace
    1
    Basement Y/N
    1
    Appliances
    Dishwasher, Microwave, Range, Refrigerator, Washer
    Size
    3,625 SF
    Lot size
    7.86 Acres

    Utilities

    Heating system
    Fireplace(s), Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1984
    Floors in Building
    1.5
    Building materials
    Log
    Architectural style
    Other
    Additional Structures
    Barn(s), Gazebo

    We can help!

    Listing Contact
    Beata Zimon-Franczyk

    Castle Rock Realty, LLC (608) 847-6020 x222

    Listing agent Beata Zimon-Franczyk (608) 847-6020

    Listing date Jan 23, 2026

    MLS# 2004904 Listing URL

    Copyright © 2026 REALTORS® Association of South Central Wisconsin. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Log Home Horse Lover's Dream

    This property offers a unique opportunity for horse lovers and log home enthusiasts. It features an expansive log-sided home with a custom log-sided horse barn, situated within 3.5 miles of Castle Rock Lake. The house includes 5 bedrooms, a loft, and 5 full baths. The layout comprises a living room, dining area, and family room with a walkout to the garage. Architectural features include 3 fireplaces and a 3-tier deck with a gazebo. An attached 2-stall garage provides parking. The gourmet kitchen is equipped with granite countertops, a large island, 2 double dishwashers, and a Thermador stove with 2 ovens and a hood with warming lights, making it suitable for entertaining large gatherings. The barn features a 2-stall garage with commercial openers, 5 horse stalls, a tackle room, a hay loft, and a workshop on the upper level. The barn is insulated and can be heated by a wood furnace. A well with a hand pump is located next to the barn. The property includes 7.86 acres of land on a private road. The property is zoned residential and the house has 3625 square feet of living space.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Horse & equestrian properties

    Map

    City
    Necedah
    County
    Juneau
    State
    Wisconsin
    Longitude
    -90.019554
    Latitude
    43.975051

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    FAQs

    What type of property is this?
    Horse & equestrian property - Expansive log home with custom horse barn near Castle Rock Lake.
    Where is this horse & equestrian property located?
    The property is located at W4981 Morros Mile Rd Necedah, WI.
    What is the asking price?
    The asking price for this property is $699,900.
    What are key features of this property?
    This property features: - Custom log-sided horse barn with 5 stalls, tackle room, hay loft, workshop, and 2-stall garage, ideal for horse enthusiasts.; - Expansive log-sided home with 5 bedrooms, 5 full baths, loft, and multiple living spaces, perfect for large families or entertaining.; - Gourmet kitchen featuring granite countertops, large island, 2 double dishwashers, and Thermador stove with double ovens.
    (608) 548-6900
    Request Owner's contact information
    W4981 Morros Mile Rd Necedah, WI 54646
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    Necedah, WI 54646
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    W4981 Morros Mile Rd Necedah, WI 54646
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    We can help!
    Listing Contact
    Beata Zimon-Franczyk
    (608) 548-6900
    Learn more
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