Updated Upper-Lower
228 Milton Avenue Janesville, WI 53545
228 Milton Avenue, Janesville, WI, 53545
$329,000
For Sale
$329,000
Well-maintained duplex with two 2-bedroom, 1-bath units and significant recent window, siding, and interior upgrades.
Property Size2,695 SF
Price / SF$122.08
Days on Market31
Property Features for 228 Milton Avenue
General Information
- Standard status
- Active
- Size
- 2,695 SF
- Property subtype
- Multi Family / 2 flat-up and down
Building Details
- Year Built
- 1890
Listing agency
Cold Water Realty
(608) 577-0347
Listed by
Vikki Triggs · License #87956-94
(608) 577-0347
Source
Compass
Added: Jun 22 Updated: Jul 21 at 11:59AM Checked: Jul 21 at 11:59AM
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 Cold Water Realty
Investment Insights
Based on property information with market context.
This well-maintained upper/lower duplex offers two separate residential units, each with two bedrooms and one full bath. Recent improvements include lead hazard reduction work, with over $200,000 invested in updates such as new windows, new interior doors, and new exterior siding, soffit, and fascia.
Showings are available on Thursdays only. Updated pictures are expected soon, and the property is offered for sale.
For buyers seeking a manageable multifamily structure, the completed capital improvements can help reduce near-term maintenance while maintaining the property’s current duplex configuration.
Showings are available on Thursdays only. Updated pictures are expected soon, and the property is offered for sale.
For buyers seeking a manageable multifamily structure, the completed capital improvements can help reduce near-term maintenance while maintaining the property’s current duplex configuration.
Key Highlights
- Well‑maintained duplex built in 1890 with two 2‑bedroom, 1‑bath units
- Over $200,000 invested in lead hazard reduction improvements, including new windows and new interior doors
- Exterior upgrades include new siding, soffit, and fascia
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 | $37.2k | $13.80 |
| − Vacancy | −$1.7k | −$0.62 |
| EGI | $35.5k | $13.18 |
| − OpEx | −$10.7k | −$3.95 |
| NOI | $24.9k | $9.23 |
2,695 SF · lease $13.80/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$355.2K
$310.8K – $414.4K
NOI $24,862 @ 7.0% cap · market cap 7.56%
Second Best
Apartment 5plus
$312.2K
$273.2K – $364.3K
NOI $21,857 @ 7.0% cap · market cap 6.64%
Theoretical Best
Office A
$647.6K
$566.7K – $755.6K
NOI $45,334 @ 7.0% cap · market cap 13.78%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Well-maintained duplex with two 2-bedroom, 1-bath units and significant recent window, siding, and interior upgrades.
Where is this duplex located?
The property is located at 228 Milton Avenue Janesville, WI.
What is the asking price?
The asking price for this property is $329,000.
What are key features of this property?
This property features: Well‑maintained duplex built in 1890 with two 2‑bedroom, 1‑bath units; Over $200,000 invested in lead hazard reduction improvements, including new windows and new interior doors; Exterior upgrades include new siding, soffit, and fascia
