Side-by-Side Duplex with
For Sale
$390,000
101-103 West Garfield Street, Mount Horeb, WI 53572
Two residential units feature two bedrooms, one-and-a-half baths, updated decks, and garage access.
Property Size2,036 SF
Price / SF$191.55
Days on Market248
Property Features for 101-103 West Garfield Street
General Information
Standard status
Active
Size
2,036 SF
Property subtype
Multi Family / Duplex-side by side
Zoning
Res
Property Condition
Severity
Repairs Needed
Evidence
A little TLC needed
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,018
Amenities
decks
Full, Full size windows/Exposed, Finished, Poured concrete foundatn
Natural Gas
Other
2 washers and 2 dryers
2 refrigerators, 2 dishwashers, 2 stove/ovens, 2 water softeners
2
Brick, Vinyl
Building Details
Year Built
1965
Units
2
Listing Agency:
Restaino & Associates
(608) 347-9828
Listed By:
Heidi Kopras · License #71284-94
(608) 347-9828
Source:
Compass
Added: Dec 27, 2025
Changed: Aug 30
Last Checked: Aug 30 at 9:38AM
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 Restaino & Associates
Investment Insights
Based on property information with market context.
This side-by-side duplex contains 2,036 square feet across two residential units, each arranged with two bedrooms and one-and-a-half baths. The property was built in 1965 and has brick and vinyl exterior finishes, poured concrete foundations, full-size windows, natural gas service, and two washers and two dryers. Each unit also includes a refrigerator, dishwasher, stove/oven, and water softener.
Recent improvements include new decks and new garage doors serving both units. Brick fireplaces are present but are not operational, and the property needs some TLC. Long-term tenants are in place. Located at 101-103 West Garfield Street in Mount Horeb, Wisconsin, the duplex is zoned Res.
Recent improvements include new decks and new garage doors serving both units. Brick fireplaces are present but are not operational, and the property needs some TLC. Long-term tenants are in place. Located at 101-103 West Garfield Street in Mount Horeb, Wisconsin, the duplex is zoned Res.
Key Highlights
- 2,036‑square‑foot side‑by‑side duplex at 101‑103 West Garfield Street
- Two bedrooms and one‑and‑a‑half baths in each unit
- New decks and new garage doors at both units
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
$18,684
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
4.79%
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%
$373,680
$373.7K
Cap Rate 7%
$266,914
$266.9K
Cap Rate 9%
$207,600
$207.6K
Market Conditions
NOI Build-Up for 2,036 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
$28.1K $13.80/SF
− Vacancy
−$1.4K −$0.69/SF
EGI
$26.7K $13.11/SF
− OpEx
−$8.0K −$3.93/SF
NOI
$18.7K $9.18/SF
Area
Dane County, WI
Vacancy
5.00%
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%
$373,680
Cap Rate 7%
$266,914
Cap Rate 9%
$207,600
Alternative Uses
Best Use
Multifamily LT 5
$266.9K
$233.6K – $311.4K
NOI $18,684 @ 7.0% cap · market cap 4.79%
Second Best
Apartment 5plus
$234.7K
$205.3K – $273.8K
NOI $16,426 @ 7.0% cap · market cap 4.21%
Theoretical Best
Office A
$473.1K
$414.0K – $552.0K
NOI $33,119 @ 7.0% cap · market cap 8.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
413
Businesses Nearby
Explore this area
Business Placement
Demographics for 53572, WI
10,549
Population
4,032
Households
2.6
Avg Household Size
41
Median Age
47%
College-Educated
97%
High-School Grad
99.1 sq mi
ZIP Area
106
Density / Sq Mi
$104,604
Median Household Income
$55,945
Median Earnings
$1,243
Median Rent
$381,900
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 residential units feature two bedrooms, one-and-a-half baths, updated decks, and garage access.
Where is this duplex located?
The property is located at 101-103 West Garfield Street Mount Horeb, WI.
What is the asking price?
The asking price for this property is $390,000.
What are key features of this property?
This property features: 2,036‑square‑foot side‑by‑side duplex at 101‑103 West Garfield Street; Two bedrooms and one‑and‑a‑half baths in each unit; New decks and new garage doors at both units
