Spacious East Side
For Sale
$949,900
1002-1004 Severson Dr, Madison, WI 53718
Well-maintained duplex with proven rental history on Madison’s East Side.
Property Size2,160 SF
Price / SF$439.77
Days on Market198
Property Features for 1002-1004 Severson Dr
General Information
Standard status
Active
Size
2,160 SF
Property subtype
Multi-Family
Building Details
Year Built
2005
Listing Agency:
Realty Executives Cooper Spransy
Listed By:
Jason Berning · License #84437-94
(608) 571-3906
Source:
Soldinmadison
Added: Mar 27
Changed: Oct 10
Last Checked: Oct 7 at 3:16PM
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 spacious duplex, located on Madison’s East Side, presents an opportunity for investors or homeowners. Each side features 4 bedrooms and 3 full bathrooms, including a private en-suite with double vanities and walk-in closets in the main bedrooms. The open-concept living and dining areas provide ample space, while a second living room in the lower level adds flexibility. Both units offer updated kitchens with stainless steel appliances and access to private decks. The walkout lower levels lead to a large backyard and oversized corner lot. Recent updates include newer carpet and wood/laminate flooring. With a proven rental history, this duplex is a sound investment. Both units are currently occupied, so please allow at least 24 hours notice for showings.
Key Highlights
- Duplex with 4 bedrooms and 3 full bathrooms on each side, including en‑suite with double vanities and walk‑in closets.
- Proven rental history as a sound investment property.
- Prime location** on Madison's East Side.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,590
Cap Rate
3.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$571,800
$571.8K
Cap Rate 7%
$408,429
$408.4K
Cap Rate 9%
$317,667
$317.7K
Market Conditions
NOI Build-Up for 2,160 SF
Gross rent
$42.8K $19.80/SF
− Vacancy
−$1.9K −$0.89/SF
EGI
$40.8K $18.91/SF
− OpEx
−$12.3K −$5.67/SF
NOI
$28.6K $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 Rate 5%
$571,800
Cap Rate 7%
$408,429
Cap Rate 9%
$317,667
Alternative Uses
Best Use
Multifamily LT 5
$408.4K
$357.4K – $476.5K
NOI $28,590 @ 7.0% cap · market cap 3.01%
Second Best
Apartment 5plus
$378.5K
$331.2K – $441.6K
NOI $26,495 @ 7.0% cap · market cap 2.79%
Theoretical Best
Office A
$631.0K
$552.1K – $736.1K
NOI $44,168 @ 7.0% cap · market cap 4.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
215
Businesses Nearby
Explore this area
Business Placement
Demographics for 53718, WI
17,034
Population
8,408
Households
2
Avg Household Size
37
Median Age
49%
College-Educated
96%
High-School Grad
20.8 sq mi
ZIP Area
819
Density / Sq Mi
$94,899
Median Household Income
$60,518
Median Earnings
$1,606
Median Rent
$328,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Well-maintained duplex with proven rental history on Madison’s East Side.
Where is this duplex located?
The property is located at 1002-1004 Severson Dr Madison, WI.
What is the asking price?
The asking price for this property is $949,900.
What are key features of this property?
This property features: Duplex with 4 bedrooms and 3 full bathrooms on each side, including **en‑suite with double vanities and walk‑in closets**.; Proven rental history as a sound investment property.; Prime location** on Madison's East Side.
