Triplex with Private Third-Floor
2069 Winnebago Street Madison, WI 53704
2069 Winnebago Street, Madison, WI, 53704
$640,000
For Sale
$640,000
Three-unit property with porches, a private third-floor balcony, and three off-street parking spaces.
Property Size2,560 SF
Price / SF$250
Days on Market73
Property Features for 2069 Winnebago Street
General Information
- Standard status
- Active
- Size
- 2,560 SF
- Property subtype
- Multi Family / 3 story
Building Details
- Year Built
- 1914
Listing agency
Devout Real Estate Group, LLC
(608) 712-4153
Listed by
Sarah Gabrielse · License #59740-90
(608) 712-4153
Source
Compass
Added: May 11 Updated: Jul 21 at 6:35AM Checked: Jul 22 at 10:39AM
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 Devout Real Estate Group, LLC
Investment Insights
Based on property information with market context.
This three-unit triplex features hardwood floors and formal dining rooms in the first and second-floor units, along with inviting porches and a private third-floor balcony. The property includes front and rear stairways and has separate electric meters. Three off-street parking spaces support convenient resident access, and the building offers a rented coin-operated laundry.
The home is described as being just steps from Schenk’s Corners and provides easy access to dining, shopping, parks, and downtown Madison.
Recent improvements include major electrical updates, vinyl siding, ceiling repairs, deck and porch refinishing, a newer furnace, and updated water heaters. The units are offered as a for-sale investment or owner-occupancy option based on the stated strong rental history and desirable layouts.
The home is described as being just steps from Schenk’s Corners and provides easy access to dining, shopping, parks, and downtown Madison.
Recent improvements include major electrical updates, vinyl siding, ceiling repairs, deck and porch refinishing, a newer furnace, and updated water heaters. The units are offered as a for-sale investment or owner-occupancy option based on the stated strong rental history and desirable layouts.
Key Highlights
- Three‑unit property built in 1914 with character features including hardwood floors and formal dining rooms on the 1st and 2nd floors
- Outdoor spaces include porches plus a private 3rd‑floor balcony
- Three off‑street parking spaces and front and rear stairways
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $50.7k | $19.80 |
| − Vacancy | −$2.3k | −$0.89 |
| EGI | $48.4k | $18.91 |
| − OpEx | −$14.5k | −$5.67 |
| NOI | $33.9k | $13.24 |
2,560 SF · lease $19.80/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$484.1K
$423.6K – $564.8K
NOI $33,885 @ 7.0% cap · market cap 5.29%
Second Best
Apartment 5plus
$448.6K
$392.5K – $523.4K
NOI $31,402 @ 7.0% cap · market cap 4.91%
Theoretical Best
Office A
$747.8K
$654.3K – $872.5K
NOI $52,347 @ 7.0% cap · market cap 8.18%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Three-unit property with porches, a private third-floor balcony, and three off-street parking spaces.
Where is this triplex located?
The property is located at 2069 Winnebago Street Madison, WI.
What is the asking price?
The asking price for this property is $640,000.
What are key features of this property?
This property features: Three‑unit property built in 1914 with character features including hardwood floors and formal dining rooms on the 1st and 2nd floors; Outdoor spaces include porches plus a private 3rd‑floor balcony; Three off‑street parking spaces and front and rear stairways
