Duplex with One-Car
For Sale
$500,000
1-3 Milo Lane, Madison, WI 53714
Two matching residences provide owner-occupancy flexibility, private garages, and updated flooring in the available unit.
Property Size2,994 SF
Price / SF$167
Days on Market160
Property Features for 1-3 Milo Lane
General Information
Standard status
Active
Size
2,994 SF
Property subtype
Multi Family / Duplex-side by side
Zoning
SR-C3
Taxes and HOA fees
Annual Taxes
$8,989
Amenities
Full, Full size windows/Exposed, Walkout to yard, Partially finished, Poured concrete foundatn, Sump pump
Natural Gas
Forced air
Seller's personal property, Tenant's personal property
2 Range/ovens, 2 Refrigerators, 2 Microwaves, 2 Dishwashers, 2 Washers, 2 Dryers, Refrigerator in basement of Unit 1, Shed in backyard.
2
Vinyl, Brick
Building Details
Year Built
1971
Units
2
Listing Agency:
Realty Executives Cooper Spransy
(608) 498-1314
Listed By:
Maxwell Woods · License #95178-94
(608) 498-1314
Source:
Compass
Added: Mar 24
Changed: Aug 29
Last Checked: Aug 29 at 9:09PM
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 Realty Executives Cooper Spransy
Investment Insights
Based on property information with market context.
This 2,994-square-foot duplex, built in 1971, contains two three-bedroom, two-bath residences. Each unit includes a one-car garage with additional storage, a kitchen equipped with a range, refrigerator, microwave, and dishwasher, plus a washer and dryer. The vacant residence has newer LVP flooring across its living areas, while the other side is occupied by tenants. Basement features include poured concrete foundation walls, a sump pump, exposed full-size windows, partial finishing, and walkout access to the yard. Exterior materials combine vinyl and brick, and the property is served by natural gas and forced-air heat.
The property is located at 1-3 Milo Lane in Madison, Wisconsin, less than half a mile from Hiestand Park and its disc golf course. Woodman's provides nearby grocery shopping, while Olbrich Park, Garver Feed Mill, and the Atwood neighborhood are within a drive of less than 10 minutes. Zoning is SR-C3.
The property is located at 1-3 Milo Lane in Madison, Wisconsin, less than half a mile from Hiestand Park and its disc golf course. Woodman's provides nearby grocery shopping, while Olbrich Park, Garver Feed Mill, and the Atwood neighborhood are within a drive of less than 10 minutes. Zoning is SR-C3.
Key Highlights
- 2,994‑square‑foot duplex with two three‑bedroom, two‑bath units
- Each residence includes a one‑car garage with extra storage space
- Vacant unit features newer LVP flooring throughout the living space
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
$39,629
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
7.93%
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%
$792,580
$792.6K
Cap Rate 7%
$566,129
$566.1K
Cap Rate 9%
$440,322
$440.3K
Market Conditions
NOI Build-Up for 2,994 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
$59.3K $19.80/SF
− Vacancy
−$2.7K −$0.89/SF
EGI
$56.6K $18.91/SF
− OpEx
−$17.0K −$5.67/SF
NOI
$39.6K $13.24/SF
Area
Madison, WI
Vacancy
4.50%
Lease Rate
$19.80 /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%
$792,580
Cap Rate 7%
$566,129
Cap Rate 9%
$440,322
Alternative Uses
Best Use
Multifamily LT 5
$566.1K
$495.4K – $660.5K
NOI $39,629 @ 7.0% cap · market cap 7.93%
Second Best
Apartment 5plus
$524.6K
$459.1K – $612.1K
NOI $36,725 @ 7.0% cap · market cap 7.35%
Theoretical Best
Office A
$874.6K
$765.3K – $1.02M
NOI $61,221 @ 7.0% cap · market cap 12.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
375
Businesses Nearby
Explore this area
Business Placement
Demographics for 53714, WI
16,289
Population
7,975
Households
2
Avg Household Size
40
Median Age
40%
College-Educated
95%
High-School Grad
4.6 sq mi
ZIP Area
3,541
Density / Sq Mi
$69,862
Median Household Income
$41,738
Median Earnings
$1,220
Median Rent
$275,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two matching residences provide owner-occupancy flexibility, private garages, and updated flooring in the available unit.
Where is this duplex located?
The property is located at 1-3 Milo Lane Madison, WI.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: 2,994‑square‑foot duplex with two three‑bedroom, two‑bath units; Each residence includes a one‑car garage with extra storage space; Vacant unit features newer LVP flooring throughout the living space
