One-Bedroom Multifamily
For Sale
$1,040,000
1722 Onsgard Road, Madison, WI 53704
Multifamily property with compact rental units, residential zoning, and original construction dating to 1973.
Property Size3,200 SF
Price / SF$325
Days on Market97
Property Features for 1722 Onsgard Road
General Information
Standard status
Active
Size
3,200 SF
Property subtype
Multi Family / Apartment building
Zoning
SR-V2
Taxes and HOA fees
Annual Taxes
$12,985
Amenities
Full, Poured concrete foundatn
Natural Gas
Radiant
Tenant/Seller Personal Items
8 Refrigerators, 8 Stove/Ovens, 8 Microwaves
1
8
Vinyl
Building Details
Year Built
1973
Units
8
Tenancy
Multi
Listing Agency:
Patriot Properties
(608) 393-9540
Listed By:
Chris Gantz · License #58594-90
(608) 393-9540
Source:
Compass
Added: May 29
Changed: Aug 30
Last Checked: Aug 31 at 10:27PM
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 multifamily property at 1722 Onsgard Road contains 3,200 square feet and was built in 1973. The property includes one-bedroom, one-bathroom units with vinyl exterior siding and a full poured-concrete foundation. Interior features include natural gas service and radiant heating.
The property is zoned SR-V2 and includes eight refrigerators, eight stove/ovens, and eight microwaves. Its Madison address places the asset near Aldi, Target, East Towne Mall, Subway, Wendy’s, and other retail and dining destinations identified in the property information. Major transportation corridors are also described as nearby, supporting access to surrounding commercial and employment areas.
The property is zoned SR-V2 and includes eight refrigerators, eight stove/ovens, and eight microwaves. Its Madison address places the asset near Aldi, Target, East Towne Mall, Subway, Wendy’s, and other retail and dining destinations identified in the property information. Major transportation corridors are also described as nearby, supporting access to surrounding commercial and employment areas.
Key Highlights
- 3,200‑square‑foot multifamily property at 1722 Onsgard Road, Madison, WI 53704
- One‑bedroom, one‑bathroom rental units
- Zoned SR‑V2
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
$39,252
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
3.77%
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%
$785,040
$785.0K
Cap Rate 7%
$560,743
$560.7K
Cap Rate 9%
$436,133
$436.1K
Market Conditions
NOI Build-Up for 3,200 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
$74.5K $23.28/SF
− Vacancy
−$3.1K −$0.98/SF
EGI
$71.4K $22.30/SF
− OpEx
−$32.1K −$10.04/SF
NOI
$39.3K $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%
$785,040
Cap Rate 7%
$560,743
Cap Rate 9%
$436,133
Alternative Uses
Best Use
Apartment 5plus
$560.7K
$490.7K – $654.2K
NOI $39,252 @ 7.0% cap · market cap 3.77%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$934.8K
$817.9K – $1.09M
NOI $65,434 @ 7.0% cap · market cap 6.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
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?
Multifamily property - Multifamily property with compact rental units, residential zoning, and original construction dating to 1973.
Where is this multifamily property located?
The property is located at 1722 Onsgard Road Madison, WI.
What is the asking price?
The asking price for this property is $1,040,000.
What are key features of this property?
This property features: 3,200‑square‑foot multifamily property at 1722 Onsgard Road, Madison, WI 53704; One‑bedroom, one‑bathroom rental units; Zoned SR‑V2
