Quadplex with Off-Street
For Sale
$750,000
1043 Jenifer Street, Madison, WI 53703
Quadplex offering four units and eight off-street parking spots, with current rents described as below market.
Property Size2,000 SF
Price / SF$375
Days on Market147
Property Features for 1043 Jenifer Street
General Information
Standard status
Active
Size
2,000 SF
Total Parking Spaces
8
Property subtype
Multi Family / Apartment building
Zoning
TR-V1
Net Operating Income
$34,408
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$11,378
Amenities
Partial, Poured concrete foundatn
Natural Gas
Forced air
Tenants personal property.
Fixtures: 4 Fridges, 4 Ranges, Coin op washer, and coin op dryer.
1
4
Vinyl
Building Details
Year Built
1889
Units
4
Tenancy
Multi
Listing Agency:
Weichert, Realtors- Lakepoint
(608) 358-1760
Listed By:
Rob Grether · License #57211-90
(608) 358-1760
Source:
Compass
Added: Mar 18
Changed: Aug 8
Last Checked: Jul 23 at 8:00AM
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 Weichert, Realtors- Lakepoint
Investment Insights
Based on property information with market context.
This quadplex at 1043 Jenifer Street offers four spacious units and eight off-street parking spots. The property is presented as having a strong rental history with consistent demand.
The building is located in Madison’s Willy Street neighborhood. Public remarks note the area’s mix of local shops, restaurants, parks, and walkability, and describe current rents as well below market.
For sale as a residential income property, the asset is positioned as an option for investors seeking a stable rental property with four-unit multifamily fundamentals already in place.
The building is located in Madison’s Willy Street neighborhood. Public remarks note the area’s mix of local shops, restaurants, parks, and walkability, and describe current rents as well below market.
For sale as a residential income property, the asset is positioned as an option for investors seeking a stable rental property with four-unit multifamily fundamentals already in place.
Key Highlights
- 4‑unit quadplex with four fridges, four ranges, and coin‑op washer and coin‑op dryer included
- Includes 8 off‑street parking spots
- Basement: partial poured concrete foundation
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
$26,473
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
3.53%
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%
$529,460
$529.5K
Cap Rate 7%
$378,186
$378.2K
Cap Rate 9%
$294,144
$294.1K
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
$39.6K $19.80/SF
− Vacancy
−$1.8K −$0.89/SF
EGI
$37.8K $18.91/SF
− OpEx
−$11.3K −$5.67/SF
NOI
$26.5K $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%
$529,460
Cap Rate 7%
$378,186
Cap Rate 9%
$294,144
Alternative Uses
Best Use
Multifamily LT 5
$378.2K
$330.9K – $441.2K
NOI $26,473 @ 7.0% cap · market cap 3.53%
Second Best
Apartment 5plus
$350.5K
$306.7K – $408.9K
NOI $24,532 @ 7.0% cap · market cap 3.27%
Theoretical Best
Office A
$584.2K
$511.2K – $681.6K
NOI $40,896 @ 7.0% cap · market cap 5.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,199
Businesses Nearby
Explore this area
Business Placement
Demographics for 53703, WI
38,512
Population
21,025
Households
1.8
Avg Household Size
27
Median Age
69%
College-Educated
98%
High-School Grad
1.8 sq mi
ZIP Area
21,396
Density / Sq Mi
$46,618
Median Household Income
$27,923
Median Earnings
$1,445
Median Rent
$472,000
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?
Quadplex - Quadplex offering four units and eight off-street parking spots, with current rents described as below market.
Where is this quadplex located?
The property is located at 1043 Jenifer Street Madison, WI.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 4‑unit quadplex with four fridges, four ranges, and coin‑op washer and coin‑op dryer included; Includes 8 off‑street parking spots; Basement: partial poured concrete foundation
