Historic Duplex with Renovated
1433 Spaight Street Madison, WI 53703
1433 Spaight Street, Madison, WI, 53703
$850,000
For Sale
$850,000
Duplex home in the Marquette Bungalow Historic District with oak floors, distinctive features, and a fenced yard.
Property Size1,840 SF
Price / SF$461.96
Days on Market144
Property Features for 1433 Spaight Street
General Information
- Standard status
- Active
- Size
- 1,840 SF
- Property subtype
- Multi Family / 2 story
Building Details
- Year Built
- 1928
Listing agency
Lauer Realty Group, Inc.
(608) 658-0467
Listed by
Mark Gladue · License #56190-90
(608) 658-0467
Source
Compass
Added: Feb 27 Updated: Jul 21 at 1:36PM Checked: Jul 21 at 1:36PM
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 Lauer Realty Group, Inc.
Investment Insights
Based on property information with market context.
This historic duplex home has been renovated throughout and was originally a 2-flat. The main floor includes two bedrooms and a full bath, with oak hardwood flooring, an ornamental brick fireplace, leaded glass windows, and classic arches. The kitchen features custom hardwood countertops and is equipped with stainless steel appliances, custom cabinetry, and a tile backsplash.
The second floor offers an open space suited for flexible use, along with an updated full bath and a kitchenette. An additional secret playroom adds character to the upper level. The property also includes a fenced-in yard and a two-car garage.
The home is located within the Marquette Bungalow Historic District in Madison, WI. Overall, it combines original architectural details with updated interior improvements and a layout that can support both owner-occupancy and rental flexibility.
The second floor offers an open space suited for flexible use, along with an updated full bath and a kitchenette. An additional secret playroom adds character to the upper level. The property also includes a fenced-in yard and a two-car garage.
The home is located within the Marquette Bungalow Historic District in Madison, WI. Overall, it combines original architectural details with updated interior improvements and a layout that can support both owner-occupancy and rental flexibility.
Key Highlights
- 1928‑built home in the Marquette Bungalow Historic District with vinyl and brick exterior
- Full, poured concrete basement and forced‑air natural gas heating
- Main floor layout includes 2 bedrooms and a full bath; former 2‑flat configuration
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $36.4k | $19.80 |
| − Vacancy | −$1.6k | −$0.89 |
| EGI | $34.8k | $18.91 |
| − OpEx | −$10.4k | −$5.67 |
| NOI | $24.4k | $13.24 |
1,840 SF · lease $19.80/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$347.9K
$304.4K – $405.9K
NOI $24,355 @ 7.0% cap · market cap 2.87%
Second Best
Apartment 5plus
$322.4K
$282.1K – $376.2K
NOI $22,570 @ 7.0% cap · market cap 2.66%
Theoretical Best
Office A
$537.5K
$470.3K – $627.1K
NOI $37,624 @ 7.0% cap · market cap 4.43%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - Duplex home in the Marquette Bungalow Historic District with oak floors, distinctive features, and a fenced yard.
Where is this duplex located?
The property is located at 1433 Spaight Street Madison, WI.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 1928‑built home in the Marquette Bungalow Historic District with vinyl and brick exterior; Full, poured concrete basement and forced‑air natural gas heating; Main floor layout includes 2 bedrooms and a full bath; former 2‑flat configuration
