First-Floor Residential Income
For Sale
$369,900
131 Shato Lane Unit 131, Monona, WI 53716
Updated condo with a private entrance, sunroom, fireplace, patio access, and one included parking space.
Property Size1,440 SF
Price / SF$256.88
Days on Market123
Property Features for 131 Shato Lane Unit 131
General Information
Standard status
Active
Size
1,440 SF
Total Parking Spaces
1
Property subtype
Condo / Ranch-1 Story
Zoning
Res
Additional Details
Highway Access
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$4,420
Amenities
fireplace
sunroom
private entrance
patio
Seller's personal items.
Stove/oven, refrigerator, dishwasher, washer, dryer, water softner, microwave.
Forced air, Central air
Wood or sim. wood floors, Walk-in closet(s), Great room, Washer, Dryer, Water softener included, Intercom, Cable/Satellite Available, Storage Unit Inc, At Least 1 tub
Vinyl, Brick
Electric, 1 fireplace
Private Entry, Patio
Building Details
Year Built
2002
Listing Agency:
Waldner Realty LLC
(608) 886-4284
Listed By:
Saray De La Vega · License #95540-94
(608) 886-4284
Source:
Compass
Added: Apr 30
Changed: Aug 29
Last Checked: Aug 29 at 3:05PM
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 Waldner Realty LLC
Investment Insights
Based on property information with market context.
This updated first-floor condo at 131 Shato Lane, Unit 131, offers 1,440 square feet of living space with a private entrance and direct access to the main patio. The interior includes a great room with a fireplace, wood or similar wood floors, a walk-in closet, and a sunroom with floor-to-ceiling windows. The kitchen is equipped with a stove/oven, refrigerator, dishwasher, microwave, washer, dryer, and water softener. Forced-air heating, central air, an intercom, a storage unit, and at least one tub are also included.
Built in 2002, the unit features vinyl and brick exterior materials along with electric fireplace service. One parking spot is included, with a second available for rent. The property is in Monona, near the conservancy, with access to I-94/39 and the Beltline.
Built in 2002, the unit features vinyl and brick exterior materials along with electric fireplace service. One parking spot is included, with a second available for rent. The property is in Monona, near the conservancy, with access to I-94/39 and the Beltline.
Key Highlights
- 1,440‑square‑foot first‑floor condo built in 2002
- Private entrance with direct main patio access
- Sunroom features floor‑to‑ceiling windows
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
$11,618
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
3.14%
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%
$232,360
$232.4K
Cap Rate 7%
$165,971
$166.0K
Cap Rate 9%
$129,089
$129.1K
Market Conditions
NOI Build-Up for 1,440 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
$22.1K $15.36/SF
− Vacancy
−$995 −$0.69/SF
EGI
$21.1K $14.67/SF
− OpEx
−$9.5K −$6.60/SF
NOI
$11.6K $8.07/SF
Area
Dane County, WI
Vacancy
4.50%
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%
$232,360
Cap Rate 7%
$165,971
Cap Rate 9%
$129,089
Alternative Uses
Best Use
Apartment 5plus
$166.0K
$145.2K – $193.6K
NOI $11,618 @ 7.0% cap · market cap 3.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$334.6K
$292.8K – $390.4K
NOI $23,424 @ 7.0% cap · market cap 6.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
790
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Updated condo with a private entrance, sunroom, fireplace, patio access, and one included parking space.
Where is this residential income property located?
The property is located at 131 Shato Lane Unit 131 Monona, WI.
What is the asking price?
The asking price for this property is $369,900.
What are key features of this property?
This property features: 1,440‑square‑foot first‑floor condo built in 2002; Private entrance with direct main patio access; Sunroom features floor‑to‑ceiling windows
