Updated Residential Income
For Sale
$214,900
Pending
1102 Gammon Lane Unit 1, Madison, WI 53719
First-floor condominium with two bedrooms, private garage parking, in-unit laundry, and recent interior and exterior improvements.
Property Size985 SF
Days on Market211
Property Features for 1102 Gammon Lane Unit 1
General Information
Standard status
Pending
Size
985 SF
Property subtype
Condo / Ranch-1 Story
Zoning
Res
Units
Unit Mix
2BR
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,334
Amenities
Owner's personal property
Kitchen refrigerator, freezer, range/oven, microwave, dishwasher, washer/dryer, curtain rods, floating shelves in living room, 2 storage units in hallway, above toilet shelving unit
Radiant, Wall AC
Walk-in closet(s), Washer, Dryer, Water softener included, Intercom, At Least 1 tub
Vinyl
1 fireplace, Gas
Deck/Balcony, Patio
Building Details
Year Built
1988
Listing Agency:
MHB Real Estate
Listed By:
Michael Weiss · License #84888-94
(608) 709-9023
Source:
Compass
Added: Feb 6
Changed: Aug 29
Last Checked: Aug 29 at 9:13PM
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 MHB Real Estate
Investment Insights
Based on property information with market context.
This first-floor condominium is configured with two bedrooms and includes a gas fireplace, in-unit washer and dryer, a walk-in closet, and a water softener. The kitchen is equipped with a refrigerator, freezer, range/oven, microwave, and dishwasher. Recent updates include bedroom windows, a patio door, a maintenance-free deck, newer windows, a water heater, and a water softener.
The property is located at 1102 Gammon Lane, Unit 1, in Madison, Wisconsin, near parks and shopping. A two-car tandem private garage provides dedicated parking and storage capacity. The residential property was built in 1988 and is designated Res zoning. Building improvements include a new roof in 2023 and new siding in 2025.
The property is located at 1102 Gammon Lane, Unit 1, in Madison, Wisconsin, near parks and shopping. A two-car tandem private garage provides dedicated parking and storage capacity. The residential property was built in 1988 and is designated Res zoning. Building improvements include a new roof in 2023 and new siding in 2025.
Key Highlights
- First‑floor condominium with two bedrooms and in‑unit laundry
- Two‑car tandem private garage included
- Gas fireplace, deck, and patio
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
$12,082
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
5.62%
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%
$241,640
$241.6K
Cap Rate 7%
$172,600
$172.6K
Cap Rate 9%
$134,244
$134.2K
Market Conditions
NOI Build-Up for 985 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
$22.9K $23.28/SF
− Vacancy
−$963 −$0.98/SF
EGI
$22.0K $22.30/SF
− OpEx
−$9.9K −$10.04/SF
NOI
$12.1K $12.27/SF
Area
Madison, WI
Vacancy
4.20%
Lease Rate
$23.28 /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%
$241,640
Cap Rate 7%
$172,600
Cap Rate 9%
$134,244
Alternative Uses
Best Use
Apartment 5plus
$172.6K
$151.0K – $201.4K
NOI $12,082 @ 7.0% cap · market cap 5.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$287.7K
$251.8K – $335.7K
NOI $20,141 @ 7.0% cap · market cap 9.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
380
Businesses Nearby
Explore this area
Business Placement
Demographics for 53719, WI
32,151
Population
16,160
Households
2
Avg Household Size
35
Median Age
61%
College-Educated
96%
High-School Grad
10.2 sq mi
ZIP Area
3,152
Density / Sq Mi
$92,223
Median Household Income
$59,334
Median Earnings
$1,429
Median Rent
$349,300
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - First-floor condominium with two bedrooms, private garage parking, in-unit laundry, and recent interior and exterior improvements.
Where is this residential income property located?
The property is located at 1102 Gammon Lane Unit 1 Madison, WI.
What is the asking price?
The asking price for this property is $214,900.
What are key features of this property?
This property features: First‑floor condominium with two bedrooms and in‑unit laundry; Two‑car tandem private garage included; Gas fireplace, deck, and patio
