Fully Renovated Duplex With
For Sale
$699,000
1712-1714 Parmenter Street, Middleton, WI 53562
Turnkey renovated duplex with two 3-bedroom units, each with full kitchens and a lower-level kitchenette option.
Property Size3,600 SF
Price / SF$194.17
Days on Market66
Property Features for 1712-1714 Parmenter Street
General Information
Standard status
Active
Size
3,600 SF
Property subtype
Multi Family / Duplex-side by side
Zoning
R2
Additional Details
Business Included
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,829
Amenities
Natural Gas
Forced air
(2) Water Softeners Rented, Washer/Dryer in 1712 is tenant property, tenants personal belongings
(2) Stoves, (4) Refrigerators, (4) Microwaves, (2) Dishwashers, (1) Washer, (1) Dryer, (2) Garage Openers
1
2
4
Aluminum/Steel
Building Details
Year Built
1991
Units
2
Tenancy
Multi
Listing Agency:
Real Broker LLC
Listed By:
Marcie Schmidt · License #77738-94
(608) 215-1004
Source:
Compass
Added: Jul 2
Changed: Aug 8
Last Checked: Jul 23 at 6:34AM
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 Real Broker LLC
Investment Insights
Based on property information with market context.
This fully renovated duplex offers two spacious units, each featuring 3 bedrooms and 2 bathrooms. Both units include a full kitchen, and each also has a lower-level kitchenette for added flexibility. Updates include new flooring, fresh paint, new appliances, and a newly blacktopped driveway, supporting a modern, low-maintenance ownership experience. One unit is occupied by a long-term tenant, while the other is move-in ready for immediate rental income or owner occupancy.
The property is located in Middleton, within walking distance to parks, restaurants, shopping, and coffee shops, and is just one block to downtown.
For tenants or owner-occupants seeking a renovated residential income property with multiple kitchen setups, this duplex provides an established two-unit configuration with recent improvements throughout.
The property is located in Middleton, within walking distance to parks, restaurants, shopping, and coffee shops, and is just one block to downtown.
For tenants or owner-occupants seeking a renovated residential income property with multiple kitchen setups, this duplex provides an established two-unit configuration with recent improvements throughout.
Key Highlights
- 1991‑built duplex with 2 units, each with 3 bedrooms and 2 bathrooms
- Each unit includes a full kitchen; one unit also has a lower‑level kitchenette
- Extensive updates: new flooring, fresh paint, and newly blacktopped driveway
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
$33,037
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
4.73%
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%
$660,740
$660.7K
Cap Rate 7%
$471,957
$472.0K
Cap Rate 9%
$367,078
$367.1K
Market Conditions
NOI Build-Up for 3,600 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
$49.7K $13.80/SF
− Vacancy
−$2.5K −$0.69/SF
EGI
$47.2K $13.11/SF
− OpEx
−$14.2K −$3.93/SF
NOI
$33.0K $9.18/SF
Area
Dane County, WI
Vacancy
5.00%
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%
$660,740
Cap Rate 7%
$471,957
Cap Rate 9%
$367,078
Alternative Uses
Best Use
Multifamily LT 5
$472.0K
$413.0K – $550.6K
NOI $33,037 @ 7.0% cap · market cap 4.73%
Second Best
Apartment 5plus
$414.9K
$363.1K – $484.1K
NOI $29,044 @ 7.0% cap · market cap 4.16%
Theoretical Best
Office A
$836.6K
$732.0K – $976.0K
NOI $58,560 @ 7.0% cap · market cap 8.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
932
Businesses Nearby
Explore this area
Business Placement
Demographics for 53562, WI
29,092
Population
13,617
Households
2.1
Avg Household Size
40
Median Age
65%
College-Educated
96%
High-School Grad
31.1 sq mi
ZIP Area
935
Density / Sq Mi
$97,241
Median Household Income
$60,688
Median Earnings
$1,394
Median Rent
$495,600
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?
Duplex - Turnkey renovated duplex with two 3-bedroom units, each with full kitchens and a lower-level kitchenette option.
Where is this duplex located?
The property is located at 1712-1714 Parmenter Street Middleton, WI.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: 1991‑built duplex with 2 units, each with 3 bedrooms and 2 bathrooms; Each unit includes a full kitchen; one unit also has a lower‑level kitchenette; Extensive updates: new flooring, fresh paint, and newly blacktopped driveway
