Ranch Duplex with Attached
For Sale
$545,000
2502-2504 Greenway, Madison, WI 53713
Single-level west-side duplex features an attached one-car garage per unit and a generous backyard, with a new roof scheduled.
Property Size2,912 SF
Price / SF$187.16
Days on Market138
Property Features for 2502-2504 Greenway
General Information
Standard status
Active
Size
2,912 SF
Total Parking Spaces
2
Property subtype
Multi Family / Duplex-side by side
Zoning
SR-C3
Additional Details
Highway Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$9,998
Amenities
Full, Poured concrete foundatn, Radon Mitigation System, Daylight window, Laundry facilities
Natural Gas
Forced air
Owner's personal property, Tenants property
Range/oven x 2, refrigerator x 2, dishwasher x 2, Washer x 2, Dryer x 2, 2504 Chest Freezer + 2504 moveable kitchen island left at convenience of seller
2
Vinyl
Building Details
Year Built
1977
Stories
1
Units
2
Construction
ranch
Tenancy
Multi
Listing Agency:
Compass
Listed By:
Jessica Osiecki · License #86204-94
(262) 366-3798
Source:
Compass
Added: Apr 22
Changed: Aug 8
Last Checked: Jul 22 at 7:23PM
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 Compass
Investment Insights
Based on property information with market context.
This west-side ranch duplex is designed for single-level living, with each unit opening to a generous backyard for outdoor use. The property includes an attached one-car garage for each unit, supporting convenience and daily accessibility. The duplex is described as filled with natural light, and a new roof is scheduled for installation prior to closing.
Located in Madison, WI, the property is positioned just moments from the bus line, bike path, and neighborhood parks, with quick access to the Beltline and downtown Madison.
For buyers considering either investment ownership or owner-occupancy, the overall ranch layout emphasizes livability while maintaining a two-unit configuration with dedicated parking through the attached garages.
Located in Madison, WI, the property is positioned just moments from the bus line, bike path, and neighborhood parks, with quick access to the Beltline and downtown Madison.
For buyers considering either investment ownership or owner-occupancy, the overall ranch layout emphasizes livability while maintaining a two-unit configuration with dedicated parking through the attached garages.
Key Highlights
- West‑side Madison single‑level ranch duplex built in 1977
- Attached one‑car garage for each unit
- Full, poured concrete basement with radon mitigation system and daylight window
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
$38,544
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
7.07%
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%
$770,880
$770.9K
Cap Rate 7%
$550,629
$550.6K
Cap Rate 9%
$428,267
$428.3K
Market Conditions
NOI Build-Up for 2,912 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
$57.7K $19.80/SF
− Vacancy
−$2.6K −$0.89/SF
EGI
$55.1K $18.91/SF
− OpEx
−$16.5K −$5.67/SF
NOI
$38.5K $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 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%
$770,880
Cap Rate 7%
$550,629
Cap Rate 9%
$428,267
Alternative Uses
Best Use
Multifamily LT 5
$550.6K
$481.8K – $642.4K
NOI $38,544 @ 7.0% cap · market cap 7.07%
Second Best
Apartment 5plus
$510.3K
$446.5K – $595.3K
NOI $35,719 @ 7.0% cap · market cap 6.55%
Theoretical Best
Office A
$850.6K
$744.3K – $992.4K
NOI $59,545 @ 7.0% cap · market cap 10.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
153
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Single-level west-side duplex features an attached one-car garage per unit and a generous backyard, with a new roof scheduled.
Where is this duplex located?
The property is located at 2502-2504 Greenway Madison, WI.
What is the asking price?
The asking price for this property is $545,000.
What are key features of this property?
This property features: West‑side Madison single‑level ranch duplex built in 1977; Attached one‑car garage for each unit; Full, poured concrete basement with radon mitigation system and daylight window
