Duplex With Separate
For Sale
$380,000
1-3 Mechanic Street, Edgerton, WI 53534
Multi Family, Edgerton, WI
Property Size3,000 SF
Lot Size0.11 Acres
Price / SF$126.67
Days on Market48
Property Features for 1-3 Mechanic Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
B-2
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 6, Bathroom 1, Bedroom 5
Appliances
2
Elementary school
Edgerton Community
Middle school
Edgerton
High school
Edgerton
Elementary school district
Edgerton
Middle school district
Edgerton
High school district
Edgerton
Directions
Get on US-12 E/US-18 E in Madison from US-51 N. Take I-39 S/I-90 E to US-51 S/I-39 ALT/I-90 ALT in Albion. Take exit 160 from I-39 S/I-90 E.
Subdivision
EDGERTON - C
Standard status
Active
APN
221 007005
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5255
Utilities
Heating system
Radiant
Amenities
basement laundry and storage
Building Details
Year built
1958
Floors in Building
2
Number of units
2
Listing Agency:
EXP Realty, LLC
(608) 838-1377
Listed By:
Ferraro Real Estate Team
(866) 848-6990
Added: Jul 22
Changed: Sep 4
Last Checked: Sep 7 at 3:06PM
MLS# 2025023
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.
Investment Insights
Based on property information with market context.
This 1958 duplex contains approximately 3,000 square feet across two full three-bedroom residences. The lower home includes a window-lined living room, large kitchen and dining area, three bedrooms, an updated bathroom, and fresh finishes. The upper residence offers hardwood floors and spacious living areas, with a long-term tenant in place. Separate utilities serve each unit, while basement laundry and storage add practical support space.
The property sits on 0.11 acres at 1-3 Mechanic Street in Edgerton, Wisconsin. Commercial B-2 zoning provides a broader regulatory setting than a strictly residential designation. Exterior work completed in 2025 includes the roof, gutters, downspouts, and lower-level windows.
The property sits on 0.11 acres at 1-3 Mechanic Street in Edgerton, Wisconsin. Commercial B-2 zoning provides a broader regulatory setting than a strictly residential designation. Exterior work completed in 2025 includes the roof, gutters, downspouts, and lower-level windows.
Key Highlights
- Approximately 3,000 square feet across two full three‑bedroom units
- Commercial B‑2 zoning
- Separate utilities for each residence
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
$27,676
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
7.28%
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%
$553,520
$553.5K
Cap Rate 7%
$395,371
$395.4K
Cap Rate 9%
$307,511
$307.5K
Market Conditions
NOI Build-Up for 3,000 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
$41.4K $13.80/SF
− Vacancy
−$1.9K −$0.62/SF
EGI
$39.5K $13.18/SF
− OpEx
−$11.9K −$3.95/SF
NOI
$27.7K $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%
$553,520
Cap Rate 7%
$395,371
Cap Rate 9%
$307,511
Alternative Uses
Best Use
Multifamily LT 5
$395.4K
$346.0K – $461.3K
NOI $27,676 @ 7.0% cap · market cap 7.28%
Second Best
Apartment 5plus
$347.6K
$304.1K – $405.5K
NOI $24,330 @ 7.0% cap · market cap 6.40%
Theoretical Best
Office A
$720.9K
$630.8K – $841.1K
NOI $50,465 @ 7.0% cap · market cap 13.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
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
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two full three-bedroom residences with basement laundry, storage, and commercial B-2 zoning.
Where is this duplex located?
The property is located at 1-3 Mechanic Street 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: Approximately 3,000 square feet across two full three‑bedroom units; Commercial B‑2 zoning; Separate utilities for each residence
