Two-Bedroom Residential Income
For Sale
$175,000
1507 Manassas Drive Unit 51, Baraboo, WI 53913
Main-level condo with open living areas, private entry, attached garage, and in-unit laundry functionality.
Property Size971 SF
Price / SF$180.23
Days on Market165
Property Features for 1507 Manassas Drive Unit 51
General Information
Standard status
Active
Size
971 SF
Total Parking Spaces
1
Property subtype
Condo / Ranch-1 Story
Zoning
Res
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,606
Amenities
laundry room
Washer, Dryer, Balance of Seller's personal property
Range/Oven, Refrigerator, Dishwasher, Microwave
Wall AC
Wood or sim. wood floors, Internet - Cable
Vinyl
Private Entry
Building Details
Year Built
2004
Listing Agency:
Bunbury & Assoc, REALTORS
(608) 434-4960
Listed By:
Julie Klemm · License #63955-94
(608) 434-4960
Source:
Compass
Added: Mar 19
Changed: Aug 29
Last Checked: Aug 29 at 7:44PM
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 Bunbury & Assoc, REALTORS
Investment Insights
Based on property information with market context.
This 971-square-foot condominium offers a main-level layout with two bedrooms and one bathroom. The interior includes an open living arrangement, wood or similar wood flooring, a large laundry room, and a kitchen equipped with a range/oven, refrigerator, dishwasher, and microwave. Wall AC and cable internet are also included. A private entry and attached one-car garage add practical features to the home, which was built in 2004.
The property is located at 1507 Manassas Drive, Unit 51, in Baraboo, Wisconsin. Shopping, dining, and local amenities are identified nearby, while the east-side setting provides access to the surrounding community. Zoning is listed as Res.
The property is located at 1507 Manassas Drive, Unit 51, in Baraboo, Wisconsin. Shopping, dining, and local amenities are identified nearby, while the east-side setting provides access to the surrounding community. Zoning is listed as Res.
Key Highlights
- 971‑square‑foot condominium with 2 bedrooms and 1 bathroom
- Main‑level layout with open living areas and wood or similar wood floors
- Large laundry room with washer and dryer
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
$8,036
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
4.59%
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%
$160,720
$160.7K
Cap Rate 7%
$114,800
$114.8K
Cap Rate 9%
$89,289
$89.3K
Market Conditions
NOI Build-Up for 971 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
$15.4K $15.84/SF
− Vacancy
−$769 −$0.79/SF
EGI
$14.6K $15.05/SF
− OpEx
−$6.6K −$6.77/SF
NOI
$8.0K $8.28/SF
Area
Sauk County, WI
Vacancy
5.00%
Lease Rate
$15.84 /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%
$160,720
Cap Rate 7%
$114,800
Cap Rate 9%
$89,289
Alternative Uses
Best Use
Apartment 5plus
$114.8K
$100.5K – $133.9K
NOI $8,036 @ 7.0% cap · market cap 4.59%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$196.6K
$172.0K – $229.3K
NOI $13,759 @ 7.0% cap · market cap 7.86%
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
71
Businesses Nearby
Explore this area
Business Placement
Demographics for 53913, WI
21,046
Population
10,444
Households
2
Avg Household Size
41
Median Age
26%
College-Educated
94%
High-School Grad
138.9 sq mi
ZIP Area
152
Density / Sq Mi
$73,856
Median Household Income
$44,261
Median Earnings
$951
Median Rent
$214,500
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Main-level condo with open living areas, private entry, attached garage, and in-unit laundry functionality.
Where is this residential income property located?
The property is located at 1507 Manassas Drive Unit 51 Baraboo, WI.
What is the asking price?
The asking price for this property is $175,000.
What are key features of this property?
This property features: 971‑square‑foot condominium with 2 bedrooms and 1 bathroom; Main‑level layout with open living areas and wood or similar wood floors; Large laundry room with washer and dryer
