Two-Unit Duplex with Fenced
For Sale
$399,900
2114-2116 Lake Point Dr, Madison, WI 53713
Two residential units feature refreshed finishes, substantial storage, and access to a large fenced outdoor area.
Property Size1,074 SF
Price / SF$372.35
Days on Market57
Property Features for 2114-2116 Lake Point Dr
General Information
Standard status
Active
Size
1,074 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1.5BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Building Details
Year Built
1961
Listing Agency:
Stark Company, REALTORS
Listed By:
Mike Schmidtke
(608) 345-5911
Source:
Soldinmadison
Added: Aug 19
Changed: Oct 2
Last Checked: Oct 7 at 4:20PM
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 Stark Company, REALTORS
Investment Insights
Based on property information with market context.
This duplex contains two residential units, each configured with 2 bedrooms, 1.5 bathrooms, generous living space, and ample storage. The property was built in 1961 and has newer vinyl siding. Unit 2116 has also received a recent refresh. Both units connect to a mature, extra-large fenced backyard that provides additional outdoor space.
Located at 2114-2116 Lake Point Dr in Madison, the property is one block from Lake Monona and offers quick access to the Beltline. Nearby amenities include bike paths, parks, restaurants, and shopping. The two-unit arrangement can accommodate an owner-occupant seeking rental income from the second unit or continued use as a duplex investment property.
Located at 2114-2116 Lake Point Dr in Madison, the property is one block from Lake Monona and offers quick access to the Beltline. Nearby amenities include bike paths, parks, restaurants, and shopping. The two-unit arrangement can accommodate an owner-occupant seeking rental income from the second unit or continued use as a duplex investment property.
Key Highlights
- Two units, each with 2 bedrooms and 1.5 bathrooms
- Unit 2116 recently refreshed; newer vinyl siding across the property
- Mature, extra‑large fenced backyard
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,216
Cap Rate
3.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$284,320
$284.3K
Cap Rate 7%
$203,086
$203.1K
Cap Rate 9%
$157,956
$158.0K
Market Conditions
NOI Build-Up for 1,074 SF
Gross rent
$21.3K $19.80/SF
− Vacancy
−$957 −$0.89/SF
EGI
$20.3K $18.91/SF
− OpEx
−$6.1K −$5.67/SF
NOI
$14.2K $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 Rate 5%
$284,320
Cap Rate 7%
$203,086
Cap Rate 9%
$157,956
Alternative Uses
Best Use
Multifamily LT 5
$203.1K
$177.7K – $236.9K
NOI $14,216 @ 7.0% cap · market cap 3.55%
Second Best
Apartment 5plus
$188.2K
$164.7K – $219.6K
NOI $13,174 @ 7.0% cap · market cap 3.29%
Theoretical Best
Office A
$313.7K
$274.5K – $366.0K
NOI $21,961 @ 7.0% cap · market cap 5.49%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
465
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 - Two residential units feature refreshed finishes, substantial storage, and access to a large fenced outdoor area.
Where is this duplex located?
The property is located at 2114-2116 Lake Point Dr Madison, WI.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Two units, each with 2 bedrooms and 1.5 bathrooms; Unit 2116 recently refreshed; newer vinyl siding across the property; Mature, extra‑large fenced backyard
