Duplex With Two
For Sale
$550,000
108-110 Tompkins Drive, Monona, WI 53716
Owner-occupant or investor duplex with updated exteriors, two deep one-car garages, and additional flex/rec space.
Property Size2,692 SF
Price / SF$204.31
Days on Market102
Property Features for 108-110 Tompkins Drive
General Information
Standard status
Active
Size
2,692 SF
Total Parking Spaces
2
Property subtype
Multi Family / Duplex-side by side
Zoning
SR-C3
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,482
Amenities
gas fireplace
deck
workshop shed
updated kitchen
central air
newer siding
newer windows
newer garage door
newer roof
extra long concrete driveway
off street parking
heated flex room
LL rec room
Full, Partially finished, Crawl space, Poured concrete foundatn
Natural Gas
Forced air
Refrigerator (2), Range/Oven (2), Dishwasher (1- Unit 110), Portable Dishwasher (108), Disposal (2), All Window Coverings/Blinds, 2 Dehumidifiers, Washer/Dryer (1 set- Unit 110), 108 brand new Water
1
2
Vinyl
Building Details
Year Built
1969
Units
2
Tenancy
Multi
Listing Agency:
RE/MAX Preferred
Listed By:
Peggy Acker-Farber · License #43254-90
(608) 849-2860
Source:
Compass
Added: May 29
Changed: Aug 8
Last Checked: Jul 23 at 1:35AM
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 RE/MAX Preferred
Investment Insights
Based on property information with market context.
This well-maintained duplex offers two separate units, each with an extra-deep one-car garage. The owner side includes an 18x24 family room addition and additional living space with patio doors leading to a deck and a large, landscaped backyard with a workshop shed. Both units also feature a heated 11x12 flex room off the garage that the seller used as a third bedroom on the owner side, along with a separate lower-level storage area.
Exterior improvements noted include newer siding and windows (2010), along with a roof (2009) and a newly extended concrete driveway providing ample off-street parking. Mechanical updates include water heater and central air details for each side, with the right side listing a 2013 water heater and central air added within the last two years, and the left side listing a 2008 water heater. Each unit includes an updated kitchen with newer counters, a sink, and flooring.
The property is located at 108-110 Tompkins Drive in Monona, Wisconsin, and the right side is described as ready for immediate occupancy.
Exterior improvements noted include newer siding and windows (2010), along with a roof (2009) and a newly extended concrete driveway providing ample off-street parking. Mechanical updates include water heater and central air details for each side, with the right side listing a 2013 water heater and central air added within the last two years, and the left side listing a 2008 water heater. Each unit includes an updated kitchen with newer counters, a sink, and flooring.
The property is located at 108-110 Tompkins Drive in Monona, Wisconsin, and the right side is described as ready for immediate occupancy.
Key Highlights
- Duplex built in 1969 with full basement, partially finished areas, crawl space, and poured concrete foundation
- Each unit includes an extra‑deep 1‑car garage plus a heated 11x12 flex room (used as a third bedroom on the heated flex room level)
- Updates include newer siding and windows (2010) and garage door and roof (2009)
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
$24,704
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
4.49%
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%
$494,080
$494.1K
Cap Rate 7%
$352,914
$352.9K
Cap Rate 9%
$274,489
$274.5K
Market Conditions
NOI Build-Up for 2,692 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
$37.1K $13.80/SF
− Vacancy
−$1.9K −$0.69/SF
EGI
$35.3K $13.11/SF
− OpEx
−$10.6K −$3.93/SF
NOI
$24.7K $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%
$494,080
Cap Rate 7%
$352,914
Cap Rate 9%
$274,489
Alternative Uses
Best Use
Multifamily LT 5
$352.9K
$308.8K – $411.7K
NOI $24,704 @ 7.0% cap · market cap 4.49%
Second Best
Apartment 5plus
$310.3K
$271.5K – $362.0K
NOI $21,719 @ 7.0% cap · market cap 3.95%
Theoretical Best
Office A
$625.6K
$547.4K – $729.8K
NOI $43,789 @ 7.0% cap · market cap 7.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
545
Businesses Nearby
Explore this area
Business Placement
Demographics for 53716, WI
19,105
Population
8,668
Households
2.2
Avg Household Size
43
Median Age
51%
College-Educated
96%
High-School Grad
6.3 sq mi
ZIP Area
3,033
Density / Sq Mi
$89,225
Median Household Income
$52,338
Median Earnings
$1,264
Median Rent
$325,400
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 - Owner-occupant or investor duplex with updated exteriors, two deep one-car garages, and additional flex/rec space.
Where is this duplex located?
The property is located at 108-110 Tompkins Drive Monona, WI.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Duplex built in 1969 with full basement, partially finished areas, crawl space, and poured concrete foundation; Each unit includes an extra‑deep 1‑car garage plus a heated 11x12 flex room (used as a third bedroom on the heated flex room level); Updates include newer siding and windows (2010) and garage door and roof (2009)
