Residential Income Property with Vaulted
For Sale
$420,000
128 Summit Court, Columbus, WI 53925
Condominium residence with a walkout lower level, private entry, outdoor living areas, and C2 zoning.
Property Size2,172 SF
Price / SF$193.37
Days on Market455
Property Features for 128 Summit Court
General Information
Standard status
Active
Size
2,172 SF
Property subtype
Condo / Ranch-1 Story
Zoning
C2
Taxes and HOA fees
Annual Taxes
$6,060
Amenities
Seller's personal property
Refrigerator, range/oven, microwave, dishwasher, washer, dryer, central vaccuum, window treatments
Forced air, Central air
Wood or sim. wood floors, Walk-in closet(s), Vaulted ceiling, Skylight(s), Washer, Dryer, Water softener RENTED, Central vac, At Least 1 tub, Internet - Cable, Other smart features
Brick, Vinyl
1 fireplace, Gas
Cul de Sac, Deck/Balcony, Patio, Private Entry
Building Details
Year Built
2005
Listing Agency:
Assist 2 Sell Homes 4 You Realty
(608) 658-2529
Listed By:
Melissa Dale · License #96352-94
(608) 658-2529
Source:
Compass
Added: Jun 2, 2025
Changed: Aug 30
Last Checked: Aug 30 at 4:27AM
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 Assist 2 Sell Homes 4 You Realty
Investment Insights
Based on property information with market context.
This 2,172-square-foot condominium residence, built in 2005, features an open main level with rounded walls, vaulted ceilings, wood or simulated wood flooring, a kitchen adjoining the living and dining areas, and a sunroom. The primary suite includes a tray ceiling, walk-in closet, double vanity, and walk-in shower. A walkout lower level adds 11' ceilings, heated floors, a guest room, half bath, fireplace, additional living space, and storage.
Located at 128 Summit Court in Columbus, Wisconsin, the property sits at the end of a cul-de-sac and overlooks a golf course. Exterior features include brick and vinyl construction, a deck or balcony, patio, and private entry. The home also includes central air, forced air, central vacuum, a gas fireplace, and a new roof and boiler.
Located at 128 Summit Court in Columbus, Wisconsin, the property sits at the end of a cul-de-sac and overlooks a golf course. Exterior features include brick and vinyl construction, a deck or balcony, patio, and private entry. The home also includes central air, forced air, central vacuum, a gas fireplace, and a new roof and boiler.
Key Highlights
- 2,172‑square‑foot condominium residence built in 2005
- Walkout lower level with 11' ceilings and heated floors
- Primary suite with walk‑in closet, double vanity, and walk‑in shower
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
$17,340
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
4.13%
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%
$346,800
$346.8K
Cap Rate 7%
$247,714
$247.7K
Cap Rate 9%
$192,667
$192.7K
Market Conditions
NOI Build-Up for 2,172 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
$33.4K $15.36/SF
− Vacancy
−$1.8K −$0.84/SF
EGI
$31.5K $14.52/SF
− OpEx
−$14.2K −$6.53/SF
NOI
$17.3K $7.98/SF
Area
Columbia County, WI
Vacancy
5.50%
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%
$346,800
Cap Rate 7%
$247,714
Cap Rate 9%
$192,667
Alternative Uses
Best Use
Apartment 5plus
$247.7K
$216.8K – $289.0K
NOI $17,340 @ 7.0% cap · market cap 4.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$488.0K
$427.0K – $569.3K
NOI $34,157 @ 7.0% cap · market cap 8.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
83
Businesses Nearby
Explore this area
Business Placement
Demographics for 53925, WI
8,523
Population
3,766
Households
2.3
Avg Household Size
43
Median Age
30%
College-Educated
95%
High-School Grad
127.1 sq mi
ZIP Area
67
Density / Sq Mi
$86,667
Median Household Income
$54,281
Median Earnings
$852
Median Rent
$258,400
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Condominium residence with a walkout lower level, private entry, outdoor living areas, and C2 zoning.
Where is this residential income property located?
The property is located at 128 Summit Court Columbus, WI.
What is the asking price?
The asking price for this property is $420,000.
What are key features of this property?
This property features: 2,172‑square‑foot condominium residence built in 2005; Walkout lower level with 11' ceilings and heated floors; Primary suite with walk‑in closet, double vanity, and walk‑in shower
