Two-Unit Duplex with Separate
For Sale
$209,900
Pending
104 Mechanic Street, Edgerton, WI 53534
Upper and lower residences offer flexible occupancy options with a partially fenced backyard and immediate availability.
Property Size2,000 SF
Days on Market209
Property Features for 104 Mechanic Street
General Information
Standard status
Pending
Size
2,000 SF
Property subtype
Multi Family / 2 story
Zoning
Res
Taxes and HOA fees
Annual Taxes
$2,403
Amenities
Partial, Other foundation
Natural Gas
Forced air
All appliances, any window coverings.
1
2
Other
Building Details
Year Built
1905
Units
2
Listing Agency:
Best Realty of Edgerton
(608) 884-8468
Listed By:
Paula Carrier · License #43036-90
(608) 884-8468
Source:
Compass
Added: Feb 3
Changed: Aug 30
Last Checked: Aug 30 at 8:58AM
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 Best Realty of Edgerton
Investment Insights
Based on property information with market context.
Built in 1905, this duplex contains two residences arranged in an upper-and-lower configuration. The property is currently vacant, allowing for immediate occupancy, and each unit has separate utilities. The building includes a metal roof, natural gas service, forced-air heating, appliances, and window coverings. Total property size is 2,000 square feet.
The parcel includes a large backyard that is partially fenced. Residential zoning supports the existing duplex use. The property is situated near downtown and schools in Edgerton, Wisconsin. Measurements are approximate and should be independently verified when material to a purchase decision.
The parcel includes a large backyard that is partially fenced. Residential zoning supports the existing duplex use. The property is situated near downtown and schools in Edgerton, Wisconsin. Measurements are approximate and should be independently verified when material to a purchase decision.
Key Highlights
- Two‑unit upper‑and‑lower duplex configuration
- 2,000 square feet of property size
- Separate utilities for each unit
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
$18,451
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
8.79%
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%
$369,020
$369.0K
Cap Rate 7%
$263,586
$263.6K
Cap Rate 9%
$205,011
$205.0K
Market Conditions
NOI Build-Up for 2,000 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
$27.6K $13.80/SF
− Vacancy
−$1.2K −$0.62/SF
EGI
$26.4K $13.18/SF
− OpEx
−$7.9K −$3.95/SF
NOI
$18.5K $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%
$369,020
Cap Rate 7%
$263,586
Cap Rate 9%
$205,011
Alternative Uses
Best Use
Multifamily LT 5
$263.6K
$230.6K – $307.5K
NOI $18,451 @ 7.0% cap · market cap 8.79%
Second Best
Apartment 5plus
$231.7K
$202.8K – $270.3K
NOI $16,220 @ 7.0% cap · market cap 7.73%
Theoretical Best
Office A
$480.6K
$420.5K – $560.7K
NOI $33,643 @ 7.0% cap · market cap 16.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
320
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 - Upper and lower residences offer flexible occupancy options with a partially fenced backyard and immediate availability.
Where is this duplex located?
The property is located at 104 Mechanic Street Edgerton, WI.
What is the asking price?
The asking price for this property is $209,900.
What are key features of this property?
This property features: Two‑unit upper‑and‑lower duplex configuration; 2,000 square feet of property size; Separate utilities for each unit
