Building Details

Year Built 2005

Listing Agency: Restaino & Associates j***@restainohomes.com Show Phone

Listed By: Jean Adler · License #89670-94 Show Phone

Source: Compass

Added: Apr 8 Changed: Aug 30 Last Checked: Aug 30 at 5:23PM

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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 Restaino & Associates

Investment Insights

Based on property information with market context.

This 1,173-square-foot corner condominium includes two bedrooms, two bathrooms, a private entrance, and a two-car garage. Interior improvements include fresh paint, new carpet, updated lighting and brushed nickel hardware, plus a new dishwasher and refrigerator. The kitchen offers oak cabinetry with pullouts and a breakfast bar equipped with USB ports. Additional features include a gas fireplace, south-facing patio, forced-air heat, central air, and a water softener. The property was built in 2005 and is zoned res.

The condo is located at 202 Douglas Drive in Brooklyn, Wisconsin, within 20 minutes of downtown Madison. The unit is adjacent to park or public land, and the association permits pets. Brooklyn is served by the Oregon School District.

Key Highlights

• 1,173‑square‑foot corner condo with 2 bedrooms and 2 bathrooms
• Private entry and attached two‑car garage
• Kitchen with oak pullout cabinetry and breakfast bar with USB ports

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

$14,388

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

5.90%

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%

$287,760 $287.8K

Cap Rate 7%

$205,543 $205.5K

Cap Rate 9%

$159,867 $159.9K

Market Conditions

NOI Build-Up for 1,173 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

$27.3K $23.28/SF

− Vacancy

−$1.1K −$0.98/SF

EGI

$26.2K $22.30/SF

− OpEx

−$11.8K −$10.04/SF

NOI

$14.4K $12.27/SF

Area

Green County, 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%

$287,760

Cap Rate 7%

$205,543

Cap Rate 9%

$159,867

Alternative Uses

Best Use

Apartment 5plus

$205.5K

$179.9K – $239.8K (±1% cap)

NOI $14,388 @ 7.0% cap · market cap 5.90%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$342.7K

$299.8K – $399.8K (±1% cap)

NOI $23,986 @ 7.0% cap · market cap 9.83%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Residential income properties

Suggested Use

Top Pick Parking Lot & Garage Real Estate Agency Building Supply Grocery & Convenience Store Kitchen & Bath Showroom Storage Facility

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

141

Businesses Nearby

Explore this area Business Placement

Demographics for 53521, WI

3,857

Population

1,433

Households

2.7

Avg Household Size

42

Median Age

35%

College-Educated

96%

High-School Grad

59.7 sq mi

ZIP Area

65

Density / Sq Mi

$101,731

Median Household Income

$52,979

Median Earnings

$1,157

Median Rent

$365,600

Median Home Value

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Frequently Asked Questions

What type of property is this?

Residential income property - Updated two-bedroom condo with private entry, attached two-car garage, patio, and pet-friendly association.

Where is this residential income property located?

The property is located at 202 Douglas Drive Brooklyn, WI.

What is the asking price?

The asking price for this property is $243,900.

What are key features of this property?

This property features: 1,173‑square‑foot corner condo with 2 bedrooms and 2 bathrooms; Private entry and attached two‑car garage; Kitchen with oak pullout cabinetry and breakfast bar with USB ports