Multifamily Property with
For Sale
$675,000
1516 E Philhower Road, Beloit, WI 53511
Flexible layout includes separate basements, a heated garage, and multiple accessory structures.
Property Size3,160 SF
Lot Size3.37 Acres
Price / SF$213.61
Days on Market51
Property Features for 1516 E Philhower Road
General Information
Standard status
Active
Size
3,160 SF
Lot size
3.37 Acres
Property subtype
Multi-Family
Building Details
Year Built
1914
Listing Agency:
Keller Williams Realty Signature
Listed By:
Kimberley Govert-Meris · License #13483
(608) 751-1024
Source:
Housesthatshine
Added: Aug 25
Changed: Sep 6
Last Checked: Oct 12 at 5:23PM
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 Keller Williams Realty Signature
Investment Insights
Based on property information with market context.
This multifamily property provides approximately 3,160 square feet of combined living space across a 3.37-acre setting. The existing improvements can support several configurations, including two 2-bedroom units alongside a 3-bedroom apartment, or a 5-bedroom residence paired with a separate 2-bedroom unit. Two basements add storage or functional space, while the large garage is heated. The property also includes multiple outbuildings and workshops, along with pasture, chicken coops, gardens, and greenhouse-style growing areas.
Located in the Town of Turtle and within the Turner School District, the property is addressed on Philhower Road in Beloit, Wisconsin. Zoning is A3, and the improvements date to 1914. Residential rental, short-term rental, and other potential uses are subject to local approvals.
Located in the Town of Turtle and within the Turner School District, the property is addressed on Philhower Road in Beloit, Wisconsin. Zoning is A3, and the improvements date to 1914. Residential rental, short-term rental, and other potential uses are subject to local approvals.
Key Highlights
- 3.37‑acre multifamily property with approximately 3,160 sq ft of combined living space
- Potential layout for two 2‑bedroom units and one 3‑bedroom apartment
- Alternative configuration 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
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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?
Multifamily property - Flexible layout includes separate basements, a heated garage, and multiple accessory structures.
Where is this multifamily property 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‑acre multifamily property with approximately 3,160 sq ft of combined living space; Potential layout for two 2‑bedroom units and one 3‑bedroom apartment; Alternative configuration includes a 5‑bedroom unit and separate 2‑bedroom unit
