Golf Course Residential Income
For Sale
$749,900
106 Aspen Glen Drive, Spring Green, WI 53588
Contemporary resort-style condo with expansive interiors, multiple outdoor living areas, and fairway and countryside views.
Property Size2,963 SF
Price / SF$253.09
Days on Market195
Property Features for 106 Aspen Glen Drive
General Information
Standard status
Active
Size
2,963 SF
Property subtype
Condo / Ranch-1 Story
Zoning
RES
Taxes and HOA fees
Annual Taxes
$5,674
Amenities
Seller's Personal Property
Range, Oven, Refrigerator, Microwave, Dishwasher, Washer, Dryer, Water Softener, Window Coverings
Forced air, Central air, Zoned Heating
Wood or sim. wood floors, Vaulted ceiling, Washer, Dryer, Water softener included, At Least 1 tub, Internet - Cable
Wood, Brick, Stucco, Stone
2 fireplaces, Gas
Cul de Sac, Deck/Balcony, Patio
Building Details
Year Built
1999
Listing Agency:
Compass
(608) 556-4179
Listed By:
Aaron Weber · License #56448-90
(608) 556-4179
Source:
Compass
Added: Feb 16
Changed: Aug 30
Last Checked: Aug 30 at 2:16AM
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 Compass
Investment Insights
Based on property information with market context.
This custom-built contemporary condo offers 2,963 square feet of open-concept living space in a resort golf setting. The interior includes hardwood, ceramic, laminate, and carpet flooring, vaulted ceilings, a skylight, recessed lighting, corner windows, and two gas fireplaces. The kitchen is equipped with premium appliances and connects to a private deck and screened porch. The primary suite includes a marble ensuite, separate shower, and walk-in closet, while the finished lower level adds a family room, bedroom, bar area, and dedicated wine storage.
The residence includes 3 bedrooms and 3 bathrooms, along with custom closet storage, forced-air and central-air systems, zoned heating, and a water softener. Exterior materials include wood, brick, stucco, and stone. The property is located at House on the Rock Golf Resort in Spring Green, near Spring Green Golf Course, Taliesin, American Players Theatre, shops, dining, and recreation. Zoning is RES.
The residence includes 3 bedrooms and 3 bathrooms, along with custom closet storage, forced-air and central-air systems, zoned heating, and a water softener. Exterior materials include wood, brick, stucco, and stone. The property is located at House on the Rock Golf Resort in Spring Green, near Spring Green Golf Course, Taliesin, American Players Theatre, shops, dining, and recreation. Zoning is RES.
Key Highlights
- 2,963‑square‑foot custom contemporary condo
- 3 bedrooms and 3 bathrooms
- Finished lower level with family room, bedroom, bar area, and wine storage
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
$24,523
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
3.27%
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%
$490,460
$490.5K
Cap Rate 7%
$350,329
$350.3K
Cap Rate 9%
$272,478
$272.5K
Market Conditions
NOI Build-Up for 2,963 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
$46.9K $15.84/SF
− Vacancy
−$2.3K −$0.79/SF
EGI
$44.6K $15.05/SF
− OpEx
−$20.1K −$6.77/SF
NOI
$24.5K $8.28/SF
Area
Sauk County, WI
Vacancy
5.00%
Lease Rate
$15.84 /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%
$490,460
Cap Rate 7%
$350,329
Cap Rate 9%
$272,478
Alternative Uses
Best Use
Apartment 5plus
$350.3K
$306.5K – $408.7K
NOI $24,523 @ 7.0% cap · market cap 3.27%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$599.8K
$524.8K – $699.8K
NOI $41,985 @ 7.0% cap · market cap 5.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
14
Businesses Nearby
Explore this area
Business Placement
Demographics for 53588, WI
4,139
Population
1,944
Households
2.1
Avg Household Size
50
Median Age
32%
College-Educated
95%
High-School Grad
139.9 sq mi
ZIP Area
30
Density / Sq Mi
$88,359
Median Household Income
$47,407
Median Earnings
$956
Median Rent
$273,600
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Contemporary resort-style condo with expansive interiors, multiple outdoor living areas, and fairway and countryside views.
Where is this residential income property located?
The property is located at 106 Aspen Glen Drive Spring Green, WI.
What is the asking price?
The asking price for this property is $749,900.
What are key features of this property?
This property features: 2,963‑square‑foot custom contemporary condo; 3 bedrooms and 3 bathrooms; Finished lower level with family room, bedroom, bar area, and wine storage
