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 Market103
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
(866) 848-6990
Source:
Holtrealestateteam
Added: Jun 17
Changed: Sep 10
Last Checked: Sep 26 at 9:00AM
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
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 = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$13,838
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.64%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
322
Businesses Nearby
Explore this area
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
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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
