Updated Brick Duplex with Commercial
For Sale
$495,000
217 S Fourth St, Stoughton, WI 53589
Updated commercial-zoned duplex combines restored character with flexible lower-level office or retail potential.
Property Size1,852 SF
Price / SF$267.28
Days on Market36
Property Features for 217 S Fourth St
General Information
Standard status
Active
Size
1,852 SF
Property subtype
Multi-Family
Building Details
Year Built
1918
Listing Agency:
Century 21 Affiliated
(608) 317-9786
Listed By:
Dawn Johnson
Source:
Nikolicgroup
Added: Jul 26
Changed: Aug 30
Last Checked: Aug 25 at 5:15AM
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 Century 21 Affiliated
Investment Insights
Based on property information with market context.
Built in 1918, this solid brick duplex contains two rental units with extensive updates, including electrical wiring, kitchens, plumbing, a porch, and a balcony. Original oak flooring, trim, and woodwork preserve the building’s vintage character, complemented by select leaded-glass windows. The lower residence includes a natural fireplace and basement access with a washer and dryer.
Located in Stoughton’s Historic Business District, the property also offers commercial flexibility. The first level can be converted back to office or retail use, subject to buyer verification. New landscaping completes the exterior presentation, while Commercial zoning supports the property’s broader use profile.
Located in Stoughton’s Historic Business District, the property also offers commercial flexibility. The first level can be converted back to office or retail use, subject to buyer verification. New landscaping completes the exterior presentation, while Commercial zoning supports the property’s broader use profile.
Key Highlights
- Two rental units in a solid brick building constructed in 1918
- Updated electrical wiring, kitchens, plumbing, porch, and balcony
- Original oak flooring, trim, and woodwork with leaded‑glass windows
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
$16,996
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
3.43%
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%
$339,920
$339.9K
Cap Rate 7%
$242,800
$242.8K
Cap Rate 9%
$188,844
$188.8K
Market Conditions
NOI Build-Up for 1,852 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
$25.6K $13.80/SF
− Vacancy
−$1.3K −$0.69/SF
EGI
$24.3K $13.11/SF
− OpEx
−$7.3K −$3.93/SF
NOI
$17.0K $9.18/SF
Area
Dane County, WI
Vacancy
5.00%
Lease Rate
$13.80 /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%
$339,920
Cap Rate 7%
$242,800
Cap Rate 9%
$188,844
Alternative Uses
Best Use
Multifamily LT 5
$242.8K
$212.5K – $283.3K
NOI $16,996 @ 7.0% cap · market cap 3.43%
Second Best
Apartment 5plus
$213.5K
$186.8K – $249.0K
NOI $14,942 @ 7.0% cap · market cap 3.02%
Theoretical Best
Office A
$430.4K
$376.6K – $502.1K
NOI $30,126 @ 7.0% cap · market cap 6.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
601
Businesses Nearby
Explore this area
Business Placement
Demographics for 53589, WI
19,888
Population
9,014
Households
2.2
Avg Household Size
45
Median Age
40%
College-Educated
96%
High-School Grad
85.0 sq mi
ZIP Area
234
Density / Sq Mi
$93,509
Median Household Income
$52,809
Median Earnings
$1,150
Median Rent
$318,300
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 - Updated commercial-zoned duplex combines restored character with flexible lower-level office or retail potential.
Where is this duplex located?
The property is located at 217 S Fourth St Stoughton, WI.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Two rental units in a solid brick building constructed in 1918; Updated electrical wiring, kitchens, plumbing, porch, and balcony; Original oak flooring, trim, and woodwork with leaded‑glass windows
