Renovated Duplex with Detached
For Sale
$389,900
20 Otto Dr, Hartford, WI 53027
Two residential units offer updated interiors, private living configurations, and outdoor space on a substantial lot.
Property Size1,942 SF
Price / SF$200.77
Days on Market70
Property Features for 20 Otto Dr
General Information
Standard status
Active
Size
1,942 SF
Total Parking Spaces
1
Property subtype
Residential Income
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,478
Building Details
Buildings
1
Listing Agency:
Shorewest Realtors, Inc.
(262) 689-5827
Listed By:
Daniel Weber · License #5090290
(262) 689-5827
Source:
Exprealty
Added: Jun 2
Changed: Aug 10
Last Checked: Aug 10 at 4:20AM
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 Shorewest Realtors, Inc.
Investment Insights
Based on property information with market context.
Located at 20 Otto Dr in Hartford, Wisconsin, this 1,942-square-foot duplex contains two units, each with two bedrooms, one full bathroom, an updated kitchen, and a renovated bathroom. The lower residence underwent a complete studs-out remodel, while the upper unit received new flooring and fresh paint in 2025. Together, the layouts provide consistent two-bedroom configurations across both levels.
The property occupies over half an acre and includes a detached one-car garage with additional outdoor area. Recent capital improvements include a 2020 roof, lower-unit windows installed in 2025, and a new furnace and water heater added in 2026. The combination of updated interiors, substantial grounds, and separate residential spaces supports both investment ownership and an owner-occupied arrangement.
The property occupies over half an acre and includes a detached one-car garage with additional outdoor area. Recent capital improvements include a 2020 roof, lower-unit windows installed in 2025, and a new furnace and water heater added in 2026. The combination of updated interiors, substantial grounds, and separate residential spaces supports both investment ownership and an owner-occupied arrangement.
Key Highlights
- 1,942‑square‑foot duplex with two residential units
- Each unit includes 2 bedrooms, 1 full bathroom, an updated kitchen, and a renovated bathroom
- Lower unit completed through a studs‑out remodel
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
$20,591
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
5.28%
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%
$411,820
$411.8K
Cap Rate 7%
$294,157
$294.2K
Cap Rate 9%
$228,789
$228.8K
Market Conditions
NOI Build-Up for 1,942 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
$31.5K $16.20/SF
− Vacancy
−$2.0K −$1.05/SF
EGI
$29.4K $15.15/SF
− OpEx
−$8.8K −$4.54/SF
NOI
$20.6K $10.60/SF
Area
Washington County, WI
Vacancy
6.50%
Lease Rate
$16.20 /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%
$411,820
Cap Rate 7%
$294,157
Cap Rate 9%
$228,789
Alternative Uses
Best Use
Multifamily LT 5
$294.2K
$257.4K – $343.2K
NOI $20,591 @ 7.0% cap · market cap 5.28%
Second Best
Apartment 5plus
$263.9K
$230.9K – $307.9K
NOI $18,473 @ 7.0% cap · market cap 4.74%
Theoretical Best
Office A
$533.9K
$467.2K – $622.9K
NOI $37,372 @ 7.0% cap · market cap 9.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
245
Businesses Nearby
Explore this area
Business Placement
Demographics for 53027, WI
23,254
Population
10,091
Households
2.3
Avg Household Size
43
Median Age
28%
College-Educated
93%
High-School Grad
91.0 sq mi
ZIP Area
256
Density / Sq Mi
$85,708
Median Household Income
$50,853
Median Earnings
$1,113
Median Rent
$290,200
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 - Two residential units offer updated interiors, private living configurations, and outdoor space on a substantial lot.
Where is this duplex located?
The property is located at 20 Otto Dr Hartford, WI.
What is the asking price?
The asking price for this property is $389,900.
What are key features of this property?
This property features: 1,942‑square‑foot duplex with two residential units; Each unit includes 2 bedrooms, 1 full bathroom, an updated kitchen, and a renovated bathroom; Lower unit completed through a studs‑out remodel
