Main-Level Residential Income
For Sale
$173,900
1523 15th Street Unit 59, Baraboo, WI 53913
Two-bedroom condominium offers private entry, attached garage, and in-unit laundry on Baraboo’s northeast side.
Property Size971 SF
Price / SF$179.09
Days on Market158
Property Features for 1523 15th Street Unit 59
General Information
Standard status
Active
Size
971 SF
Property subtype
Condo / Ranch-1 Story
Zoning
Res
Taxes and HOA fees
Annual Taxes
$2,646
Amenities
Range/oven, refrigerator/freezer, dishwasher, hood/fan, garage door opener, washer, dryer, wall air conditioner
Radiant, Wall AC
Washer, Dryer
Vinyl
Private Entry
Building Details
Year Built
2004
Listing Agency:
Harry Machtan Realty, Inc.
(608) 393-2912
Listed By:
Harry Machtan · License #12355-90
(608) 393-2912
Source:
Compass
Added: Mar 26
Changed: Aug 29
Last Checked: Aug 29 at 7:32PM
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 Harry Machtan Realty, Inc.
Investment Insights
Based on property information with market context.
This 971-square-foot condominium provides a practical main-level layout with 2 bedrooms and 1 bathroom. Built in 2004, the unit has a private entry, vinyl exterior, and a one-car attached garage with opener. Interior improvements include new carpeting, radiant heat, and wall-mounted air conditioning. The kitchen is equipped with a range/oven, refrigerator/freezer, dishwasher, and hood/fan, while laundry appliances are included within the unit.
Located on Baraboo’s northeast side at 1523 15th Street, Unit 59, the property is vacant and available for immediate occupancy. The combination of single-level living, dedicated parking, and included appliances supports straightforward residential use.
Located on Baraboo’s northeast side at 1523 15th Street, Unit 59, the property is vacant and available for immediate occupancy. The combination of single-level living, dedicated parking, and included appliances supports straightforward residential use.
Key Highlights
- 971‑square‑foot condominium with 2 bedrooms and 1 bathroom
- Main‑level layout with private entry
- One‑car attached garage with garage door opener
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
4.62%
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 4.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$196.6K
$172.0K – $229.3K
NOI $13,759 @ 7.0% cap · market cap 7.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
35
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 - Two-bedroom condominium offers private entry, attached garage, and in-unit laundry on Baraboo’s northeast side.
Where is this residential income property located?
The property is located at 1523 15th Street Unit 59 Baraboo, WI.
What is the asking price?
The asking price for this property is $173,900.
What are key features of this property?
This property features: 971‑square‑foot condominium with 2 bedrooms and 1 bathroom; Main‑level layout with private entry; One‑car attached garage with garage door opener
