Residential Income Property with
For Sale
$334,900
1475 Jody Circle, Platteville, WI 53818
Single-level condo with accessible entry, open living areas, and a spacious basement for storage or future finishing.
Property Size1,484 SF
Price / SF$225.67
Days on Market112
Property Features for 1475 Jody Circle
General Information
Standard status
Active
Size
1,484 SF
Property subtype
Condo / Ranch-1 Story
Zoning
R-3
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$4,562
Amenities
personal property of seller
stove, refrigerator, dishwasher, washer, dryer, water softener
Forced air, Central air
Wood or sim. wood floors, Walk-in closet(s), Great room, Vaulted ceiling, Washer, Dryer, Cable/Satellite Available, At Least 1 tub
Vinyl, Stone
Private Entry, Patio
Building Details
Year Built
2015
Listing Agency:
Platteville Realty LLC
(608) 778-5488
Listed By:
Renee Winkler · License #56155-90
(608) 778-5488
Source:
Compass
Added: May 11
Changed: Aug 30
Last Checked: Aug 30 at 2:04AM
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 Platteville Realty LLC
Investment Insights
Based on property information with market context.
Built in 2015, this 1,484-square-foot residential income property at 1475 Jody Circle features one-level living with a zero-grade entrance and an open interior layout. The main level includes a vaulted great room, kitchen with wood flooring and pantry storage, a primary suite with double sinks, a tiled walk-in shower and oversized closet, plus first-floor laundry. A dry basement adds substantial storage and could accommodate a finished recreation area.
The property includes a patio and private entry, along with forced-air heat, central air, a water softener, stove, refrigerator, dishwasher, washer and dryer. Vinyl and stone exterior finishes complement the home. Its edge-of-town setting offers countryside views and proximity to a golf course and walking trail. The property is zoned R-3 in Platteville, Wisconsin.
The property includes a patio and private entry, along with forced-air heat, central air, a water softener, stove, refrigerator, dishwasher, washer and dryer. Vinyl and stone exterior finishes complement the home. Its edge-of-town setting offers countryside views and proximity to a golf course and walking trail. The property is zoned R-3 in Platteville, Wisconsin.
Key Highlights
- 1,484 SF residential income property built in 2015
- Zero‑grade entrance and single‑level main‑floor living
- Dry basement provides storage and room for future recreation space
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
$11,984
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
3.58%
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%
$239,680
$239.7K
Cap Rate 7%
$171,200
$171.2K
Cap Rate 9%
$133,156
$133.2K
Market Conditions
NOI Build-Up for 1,484 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
$23.7K $15.96/SF
− Vacancy
−$1.9K −$1.28/SF
EGI
$21.8K $14.68/SF
− OpEx
−$9.8K −$6.61/SF
NOI
$12.0K $8.08/SF
Area
Grant County, WI
Vacancy
8.00%
Lease Rate
$15.96 /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%
$239,680
Cap Rate 7%
$171,200
Cap Rate 9%
$133,156
Alternative Uses
Best Use
Apartment 5plus
$171.2K
$149.8K – $199.7K
NOI $11,984 @ 7.0% cap · market cap 3.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$410.8K
$359.5K – $479.3K
NOI $28,758 @ 7.0% cap · market cap 8.59%
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
68
Businesses Nearby
Explore this area
Business Placement
Demographics for 53818, WI
15,786
Population
6,146
Households
2.6
Avg Household Size
28
Median Age
39%
College-Educated
93%
High-School Grad
154.4 sq mi
ZIP Area
102
Density / Sq Mi
$55,615
Median Household Income
$20,296
Median Earnings
$887
Median Rent
$214,200
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Single-level condo with accessible entry, open living areas, and a spacious basement for storage or future finishing.
Where is this residential income property located?
The property is located at 1475 Jody Circle Platteville, WI.
What is the asking price?
The asking price for this property is $334,900.
What are key features of this property?
This property features: 1,484 SF residential income property built in 2015; Zero‑grade entrance and single‑level main‑floor living; Dry basement provides storage and room for future recreation space
