Triplex with
For Sale
$675,000
1516 E Philhower Road, Beloit, WI 53511
Multi Family, Beloit, WI
Property Size3,160 SF
Lot Size3.37 Acres
Price / SF$213.61
Days on Market56
Property Features for 1516 E Philhower Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
A3
Bedrooms
7
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 7, Bedroom 6, Bedroom 2, Bathroom 1, Bedroom 1, Bedroom 5, Bedroom 3, Bedroom 4, Bathroom 2, Bathroom 3
Parking features
Garage, Paved or Surfaced
Appliances
3
Elementary school
Powers/Garden Prairie
Middle school
Turner
High school
Turner
Elementary school district
Beloit Turner
Middle school district
Beloit Turner
High school district
Beloit Turner
Directions
From Prairie Ave, Go East on Philhower
Subdivision
TURTLE - T
Standard status
Active
APN
038 001088011
Lot size
3.37 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4547
Utilities
Heating system
Forced Air
Amenities
outbuildings and workshops
heated garage
pasture space
chicken coops
gardens
greenhouse-style growing areas
Building Details
Year built
1914
Floors in Building
2
Number of units
3
Listing Agency:
Keller Williams Realty Signature
(608) 480-8580
Listed By:
Kimberley Govert-Meris · License #13483
(608) 751-1024
Added: Aug 20
Changed: Oct 14
Last Checked: Oct 14 at 6:06AM
MLS# 2030979
Copyright © 2026 REALTORS® Association of South Central Wisconsin. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1914 property sits on 3.37 acres and offers approximately 3,160 square feet of combined living area. Its layout can be arranged as two two-bedroom units and one three-bedroom unit, or as a five-bedroom residence alongside a separate two-bedroom unit. Two basements provide additional separation, while multiple outbuildings and workshops add storage and work areas. The garage is heated, and the property also includes pasture, chicken coops, gardens, and greenhouse-style growing areas.
Located at 1516 E Philhower Road in Beloit, Wisconsin, the property is in the Town of Turtle and Turner School District. Zoning is A3. The mix of residential space, outbuildings, and outdoor areas creates several possible configurations, subject to local approvals.
Located at 1516 E Philhower Road in Beloit, Wisconsin, the property is in the Town of Turtle and Turner School District. Zoning is A3. The mix of residential space, outbuildings, and outdoor areas creates several possible configurations, subject to local approvals.
Key Highlights
- 3.37 acres with approximately 3,160 square feet of combined living area
- Potential triplex layout with two 2‑bedroom units and one 3‑bedroom unit
- Alternative arrangement includes a 5‑bedroom unit and separate 2‑bedroom unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,152
Cap Rate
4.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$583,040
$583.0K
Cap Rate 7%
$416,457
$416.5K
Cap Rate 9%
$323,911
$323.9K
Market Conditions
NOI Build-Up for 3,160 SF
Gross rent
$43.6K $13.80/SF
− Vacancy
−$2.0K −$0.62/SF
EGI
$41.6K $13.18/SF
− OpEx
−$12.5K −$3.95/SF
NOI
$29.2K $9.23/SF
Area
Rock County, WI
Vacancy
4.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$583,040
Cap Rate 7%
$416,457
Cap Rate 9%
$323,911
Alternative Uses
Best Use
Multifamily LT 5
$416.5K
$364.4K – $485.9K
NOI $29,152 @ 7.0% cap · market cap 4.32%
Second Best
Apartment 5plus
$366.1K
$320.4K – $427.1K
NOI $25,628 @ 7.0% cap · market cap 3.80%
Theoretical Best
Office A
$759.4K
$664.5K – $885.9K
NOI $53,156 @ 7.0% cap · market cap 7.87%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Location Intelligence
Trade Area within ½ mile
16
Businesses Nearby
Explore this area
Business Placement
Demographics for 53511, WI
48,659
Population
19,372
Households
2.5
Avg Household Size
38
Median Age
19%
College-Educated
89%
High-School Grad
114.9 sq mi
ZIP Area
423
Density / Sq Mi
$65,305
Median Household Income
$39,344
Median Earnings
$995
Median Rent
$160,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Triplex - Three-bedroom and two-bedroom configurations, separate basements, and workshop space support a range of residential arrangements.
Where is this triplex located?
The property is located at 1516 E Philhower Road Beloit, WI.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: 3.37 acres with approximately 3,160 square feet of combined living area; Potential triplex layout with two 2‑bedroom units and one 3‑bedroom unit; Alternative arrangement includes a 5‑bedroom unit and separate 2‑bedroom unit
