Standalone Residential Income
For Sale
$250,000
2447 Fieldstone Lane, Beloit, WI 53511
Two-bedroom condo with a two-car garage, private deck, and finished lower level.
Property Size1,854 SF
Price / SF$134.84
Days on Market198
Property Features for 2447 Fieldstone Lane
General Information
Standard status
Active
Size
1,854 SF
Total Parking Spaces
2
Property subtype
Condo / Ranch-1 Story
Zoning
R-1A
Additional Details
Highway Access
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,565
Amenities
back deck
first floor laundry
walk in closet
handicap accessible bathroom
finished lower level
family room
bonus room
Washer, Dryer, Stove, Refrigerator, Microwave, Dishwasher
Forced air, Central air
Wood or sim. wood floors, Walk-in closet(s), Vaulted ceiling, Washer, Dryer, Water softener included, Cable/Satellite Available, At Least 1 tub
Vinyl, Brick, Stone
Private Entry, Deck/Balcony
Building Details
Year Built
1998
Listing Agency:
Shorewest, REALTORS
Listed By:
Mary Gilbank · License #36586-90
(608) 751-5868
Source:
Compass
Added: Feb 18
Changed: Sep 2
Last Checked: Aug 30 at 4:51PM
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 Shorewest, REALTORS
Investment Insights
Based on property information with market context.
This standalone, two-bedroom ranch condo offers 1,854 square feet with a bright interior, formal dining area, kitchen dining space, and first-floor laundry. The primary suite includes a walk-in closet and a large handicap-accessible bathroom. A finished lower level adds a family room and bonus room, while the exterior provides a private entry and deck. The two-car garage is insulated and freshly painted.
Recent updates include a roof approximately 3 years old, furnace and central air approximately 2 years old, oven 1 year old, and refrigerator approximately 5 years old. The Turtle Creek Condo Association covers lawn care, snow removal, common-area maintenance, and insurance. The property is located near I-90 and I-43 in Beloit, Wisconsin, and is zoned R-1A.
Recent updates include a roof approximately 3 years old, furnace and central air approximately 2 years old, oven 1 year old, and refrigerator approximately 5 years old. The Turtle Creek Condo Association covers lawn care, snow removal, common-area maintenance, and insurance. The property is located near I-90 and I-43 in Beloit, Wisconsin, and is zoned R-1A.
Key Highlights
- 1,854‑square‑foot two‑bedroom ranch condo built in 1998
- Two‑car insulated, freshly painted garage
- Finished lower level with family room and bonus room
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
$15,036
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
6.01%
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%
$300,720
$300.7K
Cap Rate 7%
$214,800
$214.8K
Cap Rate 9%
$167,067
$167.1K
Market Conditions
NOI Build-Up for 1,854 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
$28.5K $15.36/SF
− Vacancy
−$1.1K −$0.61/SF
EGI
$27.3K $14.75/SF
− OpEx
−$12.3K −$6.64/SF
NOI
$15.0K $8.11/SF
Area
Rock County, WI
Vacancy
4.00%
Lease Rate
$15.36 /SF/Yr
Expense Ratio
45.00%
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%
$300,720
Cap Rate 7%
$214,800
Cap Rate 9%
$167,067
Alternative Uses
Best Use
Apartment 5plus
$214.8K
$188.0K – $250.6K
NOI $15,036 @ 7.0% cap · market cap 6.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$445.5K
$389.8K – $519.8K
NOI $31,187 @ 7.0% cap · market cap 12.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
201
Businesses Nearby
Explore this area
Business Placement
Demographics for 53511, WI
48,659
Population
19,372
Households
2.5
Avg Household Size
38
Median Age
19%
College-Educated
89%
High-School Grad
114.9 sq mi
ZIP Area
423
Density / Sq Mi
$65,305
Median Household Income
$39,344
Median Earnings
$995
Median Rent
$160,000
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom condo with a two-car garage, private deck, and finished lower level.
Where is this residential income property located?
The property is located at 2447 Fieldstone Lane Beloit, WI.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: 1,854‑square‑foot two‑bedroom ranch condo built in 1998; Two‑car insulated, freshly painted garage; Finished lower level with family room and bonus room
