Residential Income Property with
For Sale
$250,000
1010 Parkview Drive Unit 3, Milton, WI 53563
Condo with flexible lower-level space, private entry, patio, and included water and sewer service.
Property Size2,200 SF
Price / SF$113.64
Days on Market131
Property Features for 1010 Parkview Drive Unit 3
General Information
Standard status
Active
Size
2,200 SF
Property subtype
Condo / Ranch-1 Story
Zoning
R4
Units
Unit Mix
1 x 2BR/2.5BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,420
Amenities
Sellers Personal Property
Refrigerator, Range/Oven, Dishwasher, Microwave, Washer, Dryer, Couch in the Lower Level
Forced air, Radiant, Central air
Wood or sim. wood floors, Washer, Dryer, At Least 1 tub, Internet - Cable
Vinyl, Brick
Private Entry, Patio
Building Details
Year Built
2005
Listing Agency:
Keller Williams Realty Signature
(608) 436-9265
Listed By:
Agim Mahmudi · License #93770-94
(608) 436-9265
Source:
Compass
Added: Apr 22
Changed: Aug 29
Last Checked: Aug 29 at 9:57PM
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 Keller Williams Realty Signature
Investment Insights
Based on property information with market context.
This residential income property is a 2,200-square-foot condominium built in 2005, offering two bedrooms and two and a half bathrooms. The main level includes a kitchen with extensive cabinetry and pantry storage, laundry facilities, wood or simulated wood flooring, and a mix of forced-air and radiant heating with central air. A private entry and patio add useful exterior features.
The partially finished basement expands the usable layout with additional living area and a half bathroom. The lower level can accommodate a home office, recreation area, or entertaining space. The sale includes a refrigerator, range/oven, dishwasher, microwave, washer, dryer, and lower-level couch. Water and sewer service are included, and the property is zoned R4. Schools, restaurants, and everyday amenities are located nearby.
The partially finished basement expands the usable layout with additional living area and a half bathroom. The lower level can accommodate a home office, recreation area, or entertaining space. The sale includes a refrigerator, range/oven, dishwasher, microwave, washer, dryer, and lower-level couch. Water and sewer service are included, and the property is zoned R4. Schools, restaurants, and everyday amenities are located nearby.
Key Highlights
- 2,200‑square‑foot condominium built in 2005
- Two bedrooms and 2.5 bathrooms, including a basement half bath
- Partially finished basement with additional living area
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
$17,842
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
7.14%
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%
$356,840
$356.8K
Cap Rate 7%
$254,886
$254.9K
Cap Rate 9%
$198,244
$198.2K
Market Conditions
NOI Build-Up for 2,200 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
$33.8K $15.36/SF
− Vacancy
−$1.4K −$0.61/SF
EGI
$32.4K $14.75/SF
− OpEx
−$14.6K −$6.64/SF
NOI
$17.8K $8.11/SF
Area
Rock County, WI
Vacancy
4.00%
Lease Rate
$15.36 /SF/Yr
Expense Ratio
45.00%
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%
$356,840
Cap Rate 7%
$254,886
Cap Rate 9%
$198,244
Alternative Uses
Best Use
Apartment 5plus
$254.9K
$223.0K – $297.4K
NOI $17,842 @ 7.0% cap · market cap 7.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$528.7K
$462.6K – $616.8K
NOI $37,008 @ 7.0% cap · market cap 14.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
151
Businesses Nearby
Explore this area
Business Placement
Demographics for 53563, WI
11,503
Population
4,672
Households
2.5
Avg Household Size
42
Median Age
31%
College-Educated
96%
High-School Grad
67.0 sq mi
ZIP Area
172
Density / Sq Mi
$89,397
Median Household Income
$47,742
Median Earnings
$972
Median Rent
$270,800
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Condo with flexible lower-level space, private entry, patio, and included water and sewer service.
Where is this residential income property located?
The property is located at 1010 Parkview Drive Unit 3 Milton, WI.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: 2,200‑square‑foot condominium built in 2005; Two bedrooms and 2.5 bathrooms, including a basement half bath; Partially finished basement with additional living area
