Furnished Duplex
For Sale
$550,000
N2783 Summerville Park Road, Lodi, WI 53555
Lake Wisconsin condo with a designated boat slip, two kitchens, and accessibility equipment.
Property Size3,070 SF
Price / SF$179.15
Days on Market495
Property Features for N2783 Summerville Park Road
General Information
Standard status
Active
Size
3,070 SF
Property subtype
Condo / Ranch-1 Story
Zoning
Res
Additional Details
Furnished
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$4,901
Amenities
boat slip
garage
wheelchair lift
stairlift
wrap-around deck
fireplace
2 Refrigerators, 2 ovens / Stoves, 2 Dishwashers, Washer, Dryer, Stair Lift, Wheel Chairlift in Garage, All Furnishings, Assigned Boat Slip D5
Forced air, Central air
Wood or sim. wood floors, Walk-in closet(s), Vaulted ceiling, Skylight(s), Washer, Dryer, Water softener included, Jetted bathtub, Internet - Cable, Smart doorbell
Aluminum/Steel, Brick
Gas, 1 fireplace
Private Entry, Deck/Balcony, Patio, Unit Adj to Park/PubLand
Building Details
Year Built
1999
Construction
ranch-style
Listing Agency:
Restaino & Associates
(608) 577-2245
Listed By:
Craig Endres · License #56379-94
(608) 577-2245
Source:
Compass
Added: Apr 23, 2025
Changed: Aug 29
Last Checked: Aug 29 at 6:14PM
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 Restaino & Associates
Investment Insights
Based on property information with market context.
This fully furnished half-duplex ranch-style condo includes a vaulted living room, updated kitchen with Amish cabinetry, granite countertops, pendant lighting, and appliances. Mannington LVP flooring runs throughout the home, while a new gas fireplace with porcelain tile adds a defined gathering area. The primary suite includes a private full bath with separate tub and shower. A wrap-around deck provides lake views, and the lower level adds a family or recreation room, office, workroom, second full kitchen, and walkout patio. A wheelchair lift in the garage and stairlift to the basement support accessibility. The roof was replaced in 2025, and the property includes two refrigerators, two ovens or stoves, two dishwashers, laundry appliances, a water softener, and a smart doorbell.
The condo is located at N2783 Summerville Park Road in Lodi, Wisconsin, near Lake Wisconsin. Assigned boat slip D5 is included, with walking paths, a park, two restaurants, and the Ice Age Trail nearby. The property is zoned Res and was built in 1999.
The condo is located at N2783 Summerville Park Road in Lodi, Wisconsin, near Lake Wisconsin. Assigned boat slip D5 is included, with walking paths, a park, two restaurants, and the Ice Age Trail nearby. The property is zoned Res and was built in 1999.
Key Highlights
- Designated shallow‑water boat slip D5 included
- 3,070 property size with a lower‑level second full kitchen
- New roof completed in 2025
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
$24,509
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
4.46%
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%
$490,180
$490.2K
Cap Rate 7%
$350,129
$350.1K
Cap Rate 9%
$272,322
$272.3K
Market Conditions
NOI Build-Up for 3,070 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
$47.2K $15.36/SF
− Vacancy
−$2.6K −$0.84/SF
EGI
$44.6K $14.52/SF
− OpEx
−$20.1K −$6.53/SF
NOI
$24.5K $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%
$490,180
Cap Rate 7%
$350,129
Cap Rate 9%
$272,322
Alternative Uses
Best Use
Apartment 5plus
$350.1K
$306.4K – $408.5K
NOI $24,509 @ 7.0% cap · market cap 4.46%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$689.7K
$603.5K – $804.7K
NOI $48,280 @ 7.0% cap · market cap 8.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
26
Businesses Nearby
Explore this area
Business Placement
Demographics for 53555, WI
8,529
Population
4,523
Households
1.9
Avg Household Size
46
Median Age
39%
College-Educated
99%
High-School Grad
75.7 sq mi
ZIP Area
113
Density / Sq Mi
$110,926
Median Household Income
$57,643
Median Earnings
$1,247
Median Rent
$359,800
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Lake Wisconsin condo with a designated boat slip, two kitchens, and accessibility equipment.
Where is this residential income property located?
The property is located at N2783 Summerville Park Road Lodi, 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: Designated shallow‑water boat slip D5 included; 3,070 property size with a lower‑level second full kitchen; New roof completed in 2025
