Six-Unit Multifamily
For Sale
$775,000
108 North Main Street, Edgerton, WI 53534
Six-unit multifamily property with off-street parking, multiple recent upgrades, and private storage plus smart laundry.
Property Size4,465 SF
Price / SF$173.57
Days on Market170
Property Features for 108 North Main Street
General Information
Standard status
Active
Size
4,465 SF
Property subtype
Multi Family / Apartment building
Zoning
Commercial
Occupancy
100%
Additional Details
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$8,410
Amenities
off-street parking
security system
private storage units
Smart Laundry
individually marked parking spaces
USPS locked mailbox
Full, Walkout to yard, Poured concrete foundatn, Other foundation
Natural Gas
Forced air
Seller's and tenant's personal belongings, Washer and Dryer are leased through third party service.
Refrigerators (6), Stoves (6)
1
6
2
Brick, Vinyl
Building Details
Year Built
1915
Units
6
Tenancy
Multi
Listing Agency:
EXP Realty, LLC
Listed By:
Carson Crist · License #87259-94
(608) 482-4040
Source:
Compass
Added: Mar 20
Changed: Aug 8
Last Checked: Jul 22 at 3:16AM
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 EXP Realty, LLC
Investment Insights
Based on property information with market context.
This six-unit multifamily property includes off-street parking and is fully rented. Updates noted in the offering include a new roof, newly paved parking lot, a USPS locked mailbox, a security system with live view on an app, hand railing, and an upgraded key system. Unit improvements and modifications are also referenced. Tenants have access to locked private storage units, smart laundry, and individually marked parking spaces.
The property is located on North Main Street in Edgerton, WI. The area is described as being approximately 30 minutes south of Madison and about 20 minutes north of Janesville, which may appeal to commuters between the two cities.
The property is located on North Main Street in Edgerton, WI. The area is described as being approximately 30 minutes south of Madison and about 20 minutes north of Janesville, which may appeal to commuters between the two cities.
Key Highlights
- Six‑unit multifamily with off‑street parking and is fully rented
- Annual income over $90,000
- Recent updates include new roof and newly paved parking lot
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
$36,212
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
4.67%
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%
$724,240
$724.2K
Cap Rate 7%
$517,314
$517.3K
Cap Rate 9%
$402,356
$402.4K
Market Conditions
NOI Build-Up for 4,465 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
$68.6K $15.36/SF
− Vacancy
−$2.7K −$0.61/SF
EGI
$65.8K $14.75/SF
− OpEx
−$29.6K −$6.64/SF
NOI
$36.2K $8.11/SF
Area
Rock County, WI
Vacancy
4.00%
Lease Rate
$15.36 /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%
$724,240
Cap Rate 7%
$517,314
Cap Rate 9%
$402,356
Alternative Uses
Best Use
Apartment 5plus
$517.3K
$452.7K – $603.5K
NOI $36,212 @ 7.0% cap · market cap 4.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.07M
$938.9K – $1.25M
NOI $75,108 @ 7.0% cap · market cap 9.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
312
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
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Frequently Asked Questions
What type of property is this?
Apartment building - Six-unit multifamily property with off-street parking, multiple recent upgrades, and private storage plus smart laundry.
Where is this apartment building located?
The property is located at 108 North Main Street Edgerton, WI.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: Six‑unit multifamily with off‑street parking and is fully rented; Annual income over $90,000; Recent updates include new roof and newly paved parking lot
