Multifamily Property with
New
For Sale
$749,000
1516 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$237.03
Days on Market5
Property Features for 1516 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
(608) 751-1024
Listed By:
Kimberley Govert-Meris · License #13483
Source:
Housesthatshine
Added: Aug 25
Changed: Aug 28
Last Checked: Aug 25 at 3:45AM
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 = 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
$29,152
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
3.89%
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%
$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
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
$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 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%
$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 3.89%
Second Best
Apartment 5plus
$366.1K
$320.4K – $427.1K
NOI $25,628 @ 7.0% cap · market cap 3.42%
Theoretical Best
Office A
$759.4K
$664.5K – $885.9K
NOI $53,156 @ 7.0% cap · market cap 7.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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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 Philhower Road Beloit, WI.
What is the asking price?
The asking price for this property is $749,000.
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
