Remodeled 8-Unit Apartment
For Sale
$1,250,000
1718 Onsgard Road, Madison, WI 53704
Eight two-bedroom apartments feature in-unit laundry and complete appliance packages.
Property Size3,000 SF
Price / SF$416.67
Days on Market173
Property Features for 1718 Onsgard Road
General Information
Standard status
Active
Size
3,000 SF
Property subtype
Multi Family / Apartment building
Zoning
R4
Net Operating Income
$66,104
Units
Unit Mix
8 x 2BR/1BA
Multifamily Units
8
Taxes and HOA fees
Annual Taxes
$14,964
Amenities
in-unit laundry
Full, Poured concrete foundatn
Natural Gas
Radiant
Sellers and tenants personal property
8 refrigerators, 8 stove/ovens, 8 dishwashers, 8 microwaves, 8 stacked washer/dryers
8
1
Aluminum/Steel, Brick
Building Details
Year Built
1977
Buildings
1
Units
8
Listing Agency:
Patriot Properties
(608) 745-2559
Listed By:
Danica Rademacher · License #84909-94
(608) 745-2559
Source:
Compass
Added: Mar 11
Changed: Aug 29
Last Checked: Aug 29 at 1:46PM
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 Patriot Properties
Investment Insights
Based on property information with market context.
This 8-unit apartment building, constructed in 1977, contains 3,000 square feet and is configured with eight two-bedroom, one-bathroom apartments. Each residence has been remodeled and includes in-unit laundry. The property is equipped with 8 refrigerators, 8 stove/ovens, 8 dishwashers, 8 microwaves, and 8 stacked washer/dryers.
Located on Madison’s East Side at 1718 Onsgard Road, the building carries R4 zoning. Construction includes aluminum/steel and brick exterior elements, along with a full poured concrete foundation. Natural gas service and radiant heat are also noted.
Located on Madison’s East Side at 1718 Onsgard Road, the building carries R4 zoning. Construction includes aluminum/steel and brick exterior elements, along with a full poured concrete foundation. Natural gas service and radiant heat are also noted.
Key Highlights
- 8‑unit apartment building with 3,000 square feet
- Eight two‑bedroom, one‑bathroom apartments
- Each unit has been remodeled
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
$36,799
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
2.94%
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%
$735,980
$736.0K
Cap Rate 7%
$525,700
$525.7K
Cap Rate 9%
$408,878
$408.9K
Market Conditions
NOI Build-Up for 3,000 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
$69.8K $23.28/SF
− Vacancy
−$2.9K −$0.98/SF
EGI
$66.9K $22.30/SF
− OpEx
−$30.1K −$10.04/SF
NOI
$36.8K $12.27/SF
Area
Madison, WI
Vacancy
4.20%
Lease Rate
$23.28 /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%
$735,980
Cap Rate 7%
$525,700
Cap Rate 9%
$408,878
Alternative Uses
Best Use
Apartment 5plus
$525.7K
$460.0K – $613.3K
NOI $36,799 @ 7.0% cap · market cap 2.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$876.3K
$766.8K – $1.02M
NOI $61,344 @ 7.0% cap · market cap 4.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
667
Businesses Nearby
Explore this area
Business Placement
Demographics for 53704, WI
47,066
Population
22,740
Households
2.1
Avg Household Size
38
Median Age
49%
College-Educated
96%
High-School Grad
21.9 sq mi
ZIP Area
2,149
Density / Sq Mi
$75,007
Median Household Income
$47,665
Median Earnings
$1,231
Median Rent
$289,000
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?
Apartment building - Eight two-bedroom apartments feature in-unit laundry and complete appliance packages.
Where is this apartment building located?
The property is located at 1718 Onsgard Road Madison, WI.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 8‑unit apartment building with 3,000 square feet; Eight two‑bedroom, one‑bathroom apartments; Each unit has been remodeled
