Residential Income Property with
For Sale
$340,000
1902 Huntington Park Drive Unit 1902, Reedsburg, WI 53959
Condominium residence offers three bedrooms, three full baths, and finished lower-level gathering space.
Property Size2,474 SF
Price / SF$137.43
Days on Market394
Property Features for 1902 Huntington Park Drive Unit 1902
General Information
Standard status
Active
Size
2,474 SF
Property subtype
Condo / Ranch-1 Story
Zoning
Res.
Taxes and HOA fees
Annual Taxes
$6,205
Amenities
Sellers Personal Property
Stove, Refrigerator, Microwave, Dishwasher, Washer, Dryer, Water Softener
Forced air, Central air
Walk-in closet(s), Vaulted ceiling, Washer, Dryer, At Least 1 tub, Internet -Fiber Available
Vinyl
Gas, 2 fireplaces
Private Entry
Building Details
Year Built
2005
Listing Agency:
Gavin Brothers Auctioneers LLC
(608) 524-6416
Listed By:
Heidi Nemitz · License #57186-90
(608) 524-6416
Source:
Compass
Added: Aug 2, 2025
Changed: Aug 29
Last Checked: Aug 29 at 4:39PM
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 Gavin Brothers Auctioneers LLC
Investment Insights
Based on property information with market context.
This condominium residence, built in 2005, provides 2,474 square feet across two levels. The main floor includes a kitchen with breakfast bar, living room with gas fireplace, laundry room, guest bedroom, full bath, and primary suite with walk-in closet and private bathroom. A second fireplace, vaulted ceiling, forced-air heating, central air, and a private entry add to the home's functional layout.
The lower level expands the living area with a recreation room, third bedroom, full bath, and utility room with substantial storage. The property is located in the East Ridge Estates complex at 1902 Huntington Park Drive, Unit 1902, in Reedsburg, Wisconsin. Grocery, hospital, park, and school access are identified nearby. Residential zoning applies.
The lower level expands the living area with a recreation room, third bedroom, full bath, and utility room with substantial storage. The property is located in the East Ridge Estates complex at 1902 Huntington Park Drive, Unit 1902, in Reedsburg, Wisconsin. Grocery, hospital, park, and school access are identified nearby. Residential zoning applies.
Key Highlights
- 2,474 SF condominium residence in East Ridge Estates
- Three bedrooms and three full baths across two levels
- Main‑level primary suite with walk‑in closet and private en‑suite bath
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
$20,476
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
6.02%
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%
$409,520
$409.5K
Cap Rate 7%
$292,514
$292.5K
Cap Rate 9%
$227,511
$227.5K
Market Conditions
NOI Build-Up for 2,474 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
$39.2K $15.84/SF
− Vacancy
−$2.0K −$0.79/SF
EGI
$37.2K $15.05/SF
− OpEx
−$16.8K −$6.77/SF
NOI
$20.5K $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%
$409,520
Cap Rate 7%
$292,514
Cap Rate 9%
$227,511
Alternative Uses
Best Use
Apartment 5plus
$292.5K
$256.0K – $341.3K
NOI $20,476 @ 7.0% cap · market cap 6.02%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$500.8K
$438.2K – $584.3K
NOI $35,056 @ 7.0% cap · market cap 10.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
276
Businesses Nearby
Explore this area
Business Placement
Demographics for 53959, WI
14,298
Population
5,930
Households
2.4
Avg Household Size
41
Median Age
25%
College-Educated
94%
High-School Grad
111.6 sq mi
ZIP Area
128
Density / Sq Mi
$76,313
Median Household Income
$41,886
Median Earnings
$954
Median Rent
$240,500
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Condominium residence offers three bedrooms, three full baths, and finished lower-level gathering space.
Where is this residential income property located?
The property is located at 1902 Huntington Park Drive Unit 1902 Reedsburg, WI.
What is the asking price?
The asking price for this property is $340,000.
What are key features of this property?
This property features: 2,474 SF condominium residence in East Ridge Estates; Three bedrooms and three full baths across two levels; Main‑level primary suite with walk‑in closet and private en‑suite bath
