Two-Unit Residential Income
For Sale
$390,000
105 North Harrison Street, Stoughton, WI 53589
Two-unit property with in-unit laundry and forced-air heat, including an upstairs tenant currently in place.
Property Size1,939 SF
Price / SF$201.13
Days on Market222
Property Features for 105 North Harrison Street
General Information
Standard status
Active
Size
1,939 SF
Property subtype
Multi Family / SingleFam zoned MultiFam
Zoning
SR-6
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,447
Amenities
in-unit laundry
forced-air heat
LeafGuard gutters
garage
Full, Other foundation
Natural Gas
Forced air
Seller & Tenant Personal Property
(2) Refrigerators, (2) Oven/Ranges, (1) Dishwasher, (1) Microwave, (1) Disposal
2
1
Fiber Cement
Building Details
Year Built
1900
Units
2
Listing Agency:
Elevate Estates Realty Co.
Listed By:
Sam Eifert · License #78772-94
(608) 279-8012
Source:
Compass
Added: Jan 28
Changed: Aug 8
Last Checked: Jul 21 at 10:04PM
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 Elevate Estates Realty Co.
Investment Insights
Based on property information with market context.
Well-maintained two-unit residential property on a sunny corner lot in Stoughton. An upstairs tenant is in place and would like to remain, offering immediate rental income for the right buyer. Recent updates include a brand-new garage with additional paving (2024), new flooring throughout (2021), and an updated kitchen in Unit 2 with new cabinets and countertops. Both units include in-unit laundry and forced-air heat, providing for straightforward future A/C installation, along with LeafGuard gutters and a serviced furnace with newer mechanicals.
The home is conveniently located near schools, parks, and downtown amenities in the Stoughton area, supporting long-term residential demand.
The building’s configuration includes two separate units with shared overall site ownership, updated interiors, and dedicated in-unit laundry and heating systems.
The home is conveniently located near schools, parks, and downtown amenities in the Stoughton area, supporting long-term residential demand.
The building’s configuration includes two separate units with shared overall site ownership, updated interiors, and dedicated in-unit laundry and heating systems.
Key Highlights
- Two‑unit property with an upstairs tenant currently in place for immediate rental income
- Each unit offers in‑unit laundry and forced‑air heat
- Recent updates include new flooring throughout (2021) and an updated kitchen in Unit 2 with new cabinets and countertops
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
$17,794
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
4.56%
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%
$355,880
$355.9K
Cap Rate 7%
$254,200
$254.2K
Cap Rate 9%
$197,711
$197.7K
Market Conditions
NOI Build-Up for 1,939 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
$26.8K $13.80/SF
− Vacancy
−$1.3K −$0.69/SF
EGI
$25.4K $13.11/SF
− OpEx
−$7.6K −$3.93/SF
NOI
$17.8K $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%
$355,880
Cap Rate 7%
$254,200
Cap Rate 9%
$197,711
Alternative Uses
Best Use
Multifamily LT 5
$254.2K
$222.4K – $296.6K
NOI $17,794 @ 7.0% cap · market cap 4.56%
Second Best
Apartment 5plus
$223.5K
$195.6K – $260.7K
NOI $15,644 @ 7.0% cap · market cap 4.01%
Theoretical Best
Office A
$450.6K
$394.3K – $525.7K
NOI $31,541 @ 7.0% cap · market cap 8.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
519
Businesses Nearby
Explore this area
Business Placement
Demographics for 53589, WI
19,888
Population
9,014
Households
2.2
Avg Household Size
45
Median Age
40%
College-Educated
96%
High-School Grad
85.0 sq mi
ZIP Area
234
Density / Sq Mi
$93,509
Median Household Income
$52,809
Median Earnings
$1,150
Median Rent
$318,300
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-unit property with in-unit laundry and forced-air heat, including an upstairs tenant currently in place.
Where is this duplex located?
The property is located at 105 North Harrison Street Stoughton, 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: Two‑unit property with an upstairs tenant currently in place for immediate rental income; Each unit offers in‑unit laundry and forced‑air heat; Recent updates include new flooring throughout (2021) and an updated kitchen in Unit 2 with new cabinets and countertops
