Updated Duplex
For Sale
$630,000
2309 /2311 Mckenna Boulevard, Madison, WI 53711
Duplex with recent updates on one side and current rents exceeding $5,000 per month.
Property Size1,404 SF
Price / SF$448.72
Days on Market101
Property Features for 2309 /2311 Mckenna Boulevard
General Information
Standard status
Active
Size
1,404 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
Prairie Hills Neighborhood Association
Additional Details
Business Included
No
Multifamily Units
2
Building Details
Year Built
1991
Tenancy
Multi
Listing Agency:
Bunbury & Assoc, REALTORS
Listed By:
Eric Olson · License #6974694
(608) 575-9272
Source:
Soldinmadison
Added: Jul 27
Changed: Oct 26
Last Checked: Oct 7 at 2:55PM
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 Bunbury & Assoc, REALTORS
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Investment Insights
Based on property information with market context.
This duplex offers two units within a single income property. Recent updating includes new flooring, cabinets, fixtures, and a furnace on one side of the duplex.
A fresh lease is in place on the updated unit, contributing to combined rents of over $5,000 per month.
The property is being offered for sale as a residential income investment, suitable for an owner starting out or expanding an existing portfolio.
A fresh lease is in place on the updated unit, contributing to combined rents of over $5,000 per month.
The property is being offered for sale as a residential income investment, suitable for an owner starting out or expanding an existing portfolio.
Key Highlights
- Duplex built in 1991
- One side has recent updates including new flooring, cabinets, fixtures, and furnace
- Fresh lease in place at $2,600
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,584
Cap Rate
2.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$371,680
$371.7K
Cap Rate 7%
$265,486
$265.5K
Cap Rate 9%
$206,489
$206.5K
Market Conditions
NOI Build-Up for 1,404 SF
Gross rent
$27.8K $19.80/SF
− Vacancy
−$1.3K −$0.89/SF
EGI
$26.5K $18.91/SF
− OpEx
−$8.0K −$5.67/SF
NOI
$18.6K $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%
$371,680
Cap Rate 7%
$265,486
Cap Rate 9%
$206,489
Alternative Uses
Best Use
Multifamily LT 5
$265.5K
$232.3K – $309.7K
NOI $18,584 @ 7.0% cap · market cap 2.95%
Second Best
Apartment 5plus
$246.0K
$215.3K – $287.0K
NOI $17,222 @ 7.0% cap · market cap 2.73%
Theoretical Best
Office A
$410.1K
$358.9K – $478.5K
NOI $28,709 @ 7.0% cap · market cap 4.56%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
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Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
239
Businesses Nearby
Explore this area
Business Placement
Demographics for 53711, WI
51,448
Population
23,500
Households
2.2
Avg Household Size
37
Median Age
66%
College-Educated
97%
High-School Grad
26.0 sq mi
ZIP Area
1,979
Density / Sq Mi
$101,236
Median Household Income
$55,284
Median Earnings
$1,357
Median Rent
$387,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Duplex with recent updates on one side and current rents exceeding $5,000 per month.
Where is this duplex located?
The property is located at 2309 /2311 Mckenna Boulevard Madison, WI.
What is the asking price?
The asking price for this property is $630,000.
What are key features of this property?
This property features: Duplex built in 1991; One side has recent updates including new flooring, cabinets, fixtures, and furnace; Fresh lease in place at $2,600
