Duplex with Commercial
For Sale
$380,000
1-3 Mechanic St, Edgerton, WI 53534
Duplex featuring two three-bedroom units with separate utility meters and a remodeled lower unit.
Property Size1,500 SF
Price / SF$253.33
Days on Market128
Property Features for 1-3 Mechanic St
General Information
Standard status
Active
Size
1,500 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1958
Listing Agency:
EXP Realty, LLC
Listed By:
Ferraro Real Estate Team
(608) 445-2287
Source:
Holtrealestateteam
Added: Jun 17
Changed: Oct 9
Last Checked: Oct 7 at 3:39PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of EXP Realty, LLC
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Investment Insights
Based on property information with market context.
This well-cared-for duplex includes living space in two units, with the lower level positioned for commercial use under the property’s commercial zoning. The lower unit has been fully remodeled with new flooring, a gutted and updated bathroom, modern light fixtures, and fresh interior paint. Both units feature three bedrooms, hardwood floors, updated bathrooms, and large eat-in kitchens. Laundry is located in the basement, and the utilities are separately metered for each unit.
The property is described as being in the heart of Edgerton. Additional maintenance items include replaced gutters and fascia in 2016.
With a long-term tenant noted in the upper unit and the lower level offering flexibility for a business, the duplex supports owner-occupancy, renting both units, or using the lower level for commercial operations while living in the upper unit.
The property is described as being in the heart of Edgerton. Additional maintenance items include replaced gutters and fascia in 2016.
With a long-term tenant noted in the upper unit and the lower level offering flexibility for a business, the duplex supports owner-occupancy, renting both units, or using the lower level for commercial operations while living in the upper unit.
Key Highlights
- Duplex with 2 units, each offering 1,500 SF of living space
- Commercial zoning; lower level offers space for a business alongside residential use
- Lower unit was fully remodeled with new flooring, updated bathroom (gutted), new light fixtures, and fresh interior paint
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,838
Cap Rate
3.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$276,760
$276.8K
Cap Rate 7%
$197,686
$197.7K
Cap Rate 9%
$153,756
$153.8K
Market Conditions
NOI Build-Up for 1,500 SF
Gross rent
$20.7K $13.80/SF
− Vacancy
−$932 −$0.62/SF
EGI
$19.8K $13.18/SF
− OpEx
−$5.9K −$3.95/SF
NOI
$13.8K $9.23/SF
Area
Rock County, WI
Vacancy
4.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$276,760
Cap Rate 7%
$197,686
Cap Rate 9%
$153,756
Alternative Uses
Best Use
Multifamily LT 5
$197.7K
$173.0K – $230.6K
NOI $13,838 @ 7.0% cap · market cap 3.64%
Second Best
Apartment 5plus
$173.8K
$152.1K – $202.8K
NOI $12,165 @ 7.0% cap · market cap 3.20%
Theoretical Best
Office A
$360.5K
$315.4K – $420.5K
NOI $25,232 @ 7.0% cap · market cap 6.64%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
322
Businesses Nearby
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Business Placement
Demographics for 53534, WI
12,752
Population
5,982
Households
2.1
Avg Household Size
42
Median Age
33%
College-Educated
94%
High-School Grad
85.2 sq mi
ZIP Area
150
Density / Sq Mi
$94,250
Median Household Income
$53,109
Median Earnings
$1,102
Median Rent
$280,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Duplex featuring two three-bedroom units with separate utility meters and a remodeled lower unit.
Where is this duplex located?
The property is located at 1-3 Mechanic St Edgerton, WI.
What is the asking price?
The asking price for this property is $380,000.
What are key features of this property?
This property features: Duplex with 2 units, each offering 1,500 SF of living space; Commercial zoning; lower level offers space for a business alongside residential use; Lower unit was fully remodeled with new flooring, updated bathroom (gutted), new light fixtures, and fresh interior paint
