Duplex Residential Income
For Sale
$524,900
2022-2026 Dodge Street, Madison, WI 53713
For sale duplex residential income property with a total size of 3,234 square feet.
Property Size3,234 SF
Price / SF$162.31
Days on Market210
Property Features for 2022-2026 Dodge Street
General Information
Standard status
Active
Size
3,234 SF
Property subtype
Multi Family / Duplex-side by side
Zoning
TR-C4
Taxes and HOA fees
Annual Taxes
$6,031
Amenities
Full, Partially finished, Poured concrete foundatn, Sump pump
Natural Gas
Forced air
2
Vinyl, Brick
Building Details
Year Built
1975
Units
2
Listing Agency:
First Weber Inc
Listed By:
Randy Hess · License #36530-90
(608) 217-6455
Source:
Compass
Added: Feb 8
Changed: Aug 8
Last Checked: Jul 22 at 2:19AM
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 First Weber Inc
Investment Insights
Based on property information with market context.
This duplex residential income property is offered for sale as a multifamily asset. The total building size is 3,234 square feet.
The property is located at 2022-2026 Dodge Street in Madison, Wisconsin 53713.
The property is located at 2022-2026 Dodge Street in Madison, Wisconsin 53713.
Key Highlights
- Duplex income property with 3,234 SF total size
- Built in 1975
- Full, partially finished poured concrete basement with sump pump
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
$42,806
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
8.16%
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%
$856,120
$856.1K
Cap Rate 7%
$611,514
$611.5K
Cap Rate 9%
$475,622
$475.6K
Market Conditions
NOI Build-Up for 3,234 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
$64.0K $19.80/SF
− Vacancy
−$2.9K −$0.89/SF
EGI
$61.2K $18.91/SF
− OpEx
−$18.3K −$5.67/SF
NOI
$42.8K $13.24/SF
Area
Madison, WI
Vacancy
4.50%
Lease Rate
$19.80 /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%
$856,120
Cap Rate 7%
$611,514
Cap Rate 9%
$475,622
Alternative Uses
Best Use
Multifamily LT 5
$611.5K
$535.1K – $713.4K
NOI $42,806 @ 7.0% cap · market cap 8.16%
Second Best
Apartment 5plus
$566.7K
$495.9K – $661.2K
NOI $39,669 @ 7.0% cap · market cap 7.56%
Theoretical Best
Office A
$944.7K
$826.6K – $1.10M
NOI $66,129 @ 7.0% cap · market cap 12.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
393
Businesses Nearby
Explore this area
Business Placement
Demographics for 53713, WI
23,291
Population
11,635
Households
2
Avg Household Size
32
Median Age
39%
College-Educated
86%
High-School Grad
9.8 sq mi
ZIP Area
2,377
Density / Sq Mi
$57,833
Median Household Income
$36,998
Median Earnings
$1,173
Median Rent
$259,100
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 - For sale duplex residential income property with a total size of 3,234 square feet.
Where is this duplex located?
The property is located at 2022-2026 Dodge Street Madison, WI.
What is the asking price?
The asking price for this property is $524,900.
What are key features of this property?
This property features: Duplex income property with 3,234 SF total size; Built in 1975; Full, partially finished poured concrete basement with sump pump
