New Residential Income
For Sale
$359,900
168 East Ash, Milton, WI 53563
Two-bedroom condominium with accessible main-level living, upscale finishes, and lower-level expansion space.
Property Size1,511 SF
Price / SF$238.19
Days on Market362
Property Features for 168 East Ash
General Information
Standard status
Active
Size
1,511 SF
Property subtype
Condo / Ranch-1 Story
Zoning
Res
Amenities
stove, dishwasher, microwave
Forced air, Central air
Wood or sim. wood floors, Walk-in closet(s), Great room, Cable/Satellite Available, At Least 1 tub, Split bedrooms, Internet - Cable
Vinyl, Stone
Gas, 1 fireplace
Private Entry
Building Details
Year Built
2025
Listing Agency:
Century 21 Affiliated
Listed By:
Chris Mayhew · License #67045-94
(608) 774-2167
Source:
Compass
Added: Sep 6, 2025
Changed: Aug 30
Last Checked: Aug 30 at 3:12PM
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 Century 21 Affiliated
Investment Insights
Based on property information with market context.
Built in 2025 within Milton’s Tower Hill subdivision, this condominium offers 1,511 square feet with two bedrooms and two bathrooms. The main level features an open great room, tray ceilings, a corner gas fireplace, white finishes, and a dedicated dining area. The kitchen includes quartz countertops, stainless appliances, a center island, soft-close cabinetry, and an oversized corner pantry. A main-level laundry and mudroom extend from the living area, while the primary suite includes a walk-in closet, double vanity, and walk-in shower.
The finished two-car garage provides zero-step entry, and the residence has a private entry, vinyl and stone exterior, central air, and forced-air heat. The insulated and studded lower level includes an egress window and plumbing preparation for a future bathroom, with room for an additional bedroom or flex area. The property is located at 168 East Ash in Milton, Wisconsin, and is zoned Res.
The finished two-car garage provides zero-step entry, and the residence has a private entry, vinyl and stone exterior, central air, and forced-air heat. The insulated and studded lower level includes an egress window and plumbing preparation for a future bathroom, with room for an additional bedroom or flex area. The property is located at 168 East Ash in Milton, Wisconsin, and is zoned Res.
Key Highlights
- Built in 2025 with 1,511 square feet of living space
- Two‑bedroom, two‑bath condominium in Tower Hill subdivision
- Finished 2‑car garage with zero‑step entry
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
$12,254
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
3.40%
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%
$245,080
$245.1K
Cap Rate 7%
$175,057
$175.1K
Cap Rate 9%
$136,156
$136.2K
Market Conditions
NOI Build-Up for 1,511 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
$23.2K $15.36/SF
− Vacancy
−$928 −$0.61/SF
EGI
$22.3K $14.75/SF
− OpEx
−$10.0K −$6.64/SF
NOI
$12.3K $8.11/SF
Area
Rock County, WI
Vacancy
4.00%
Lease Rate
$15.36 /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%
$245,080
Cap Rate 7%
$175,057
Cap Rate 9%
$136,156
Alternative Uses
Best Use
Apartment 5plus
$175.1K
$153.2K – $204.2K
NOI $12,254 @ 7.0% cap · market cap 3.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$363.1K
$317.7K – $423.6K
NOI $25,417 @ 7.0% cap · market cap 7.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
182
Businesses Nearby
Explore this area
Business Placement
Demographics for 53563, WI
11,503
Population
4,672
Households
2.5
Avg Household Size
42
Median Age
31%
College-Educated
96%
High-School Grad
67.0 sq mi
ZIP Area
172
Density / Sq Mi
$89,397
Median Household Income
$47,742
Median Earnings
$972
Median Rent
$270,800
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 with accessible main-level living, upscale finishes, and lower-level expansion space.
Where is this residential income property located?
The property is located at 168 East Ash Milton, WI.
What is the asking price?
The asking price for this property is $359,900.
What are key features of this property?
This property features: Built in 2025 with 1,511 square feet of living space; Two‑bedroom, two‑bath condominium in Tower Hill subdivision; Finished 2‑car garage with zero‑step entry
