Well-Maintained Duplex with
For Sale
$369,900
2626 Harvard Drive, Janesville, WI 53548
Duplex on a quiet cul-de-sac with two tenant-occupied 3-bedroom units and attached garages.
Property Size2,466 SF
Price / SF$150
Days on Market79
Property Features for 2626 Harvard Drive
General Information
Standard status
Active
Size
2,466 SF
Property subtype
Multi Family / Duplex-side by side
Zoning
R-1
Taxes and HOA fees
Annual Taxes
$4,661
Amenities
Partial, Finished, Partially finished, Poured concrete foundatn
Natural Gas
Forced air
Tenants personal property
2 Stoves, 2 Refrigerators, Blinds, 2 Openers, 2 Remotes
2
Vinyl
Building Details
Year Built
1984
Units
2
Listing Agency:
Coldwell Banker The Realty Group
(608) 289-2285
Listed By:
Paul Schieldt · License #5021390
(608) 289-2285
Source:
Compass
Added: Jun 15
Changed: Aug 31
Last Checked: Aug 31 at 12:01AM
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 Coldwell Banker The Realty Group
Investment Insights
Based on property information with market context.
This well-maintained duplex on Janesville’s west side offers two spacious, tenant-occupied 3-bedroom units. Unit 533 Harvard includes 3 bedrooms, 2.5 baths, a private primary suite, and an attached oversized 2-car garage. Unit 2626 Harvard offers 3 bedrooms and 1.5 baths, along with an attached 1-car garage.
The property is tucked away on a quiet cul-de-sac, and both units have been consistently rented. Please allow 24-hour notice for all showings due to tenant occupancy.
Each unit is configured as a 3-bedroom home with attached garage parking, supporting straightforward management for an owner-investor or an owner-occupant looking to offset expenses.
The property is tucked away on a quiet cul-de-sac, and both units have been consistently rented. Please allow 24-hour notice for all showings due to tenant occupancy.
Each unit is configured as a 3-bedroom home with attached garage parking, supporting straightforward management for an owner-investor or an owner-occupant looking to offset expenses.
Key Highlights
- 1984‑built duplex on a quiet cul‑de‑sac with two tenant‑occupied 3‑bedroom units
- Unit at 533 Harvard: 3 bedrooms, 2.5 baths, private primary suite, and attached oversized 2‑car garage
- Unit at 2626 Harvard: 3 bedrooms, 1.5 baths, and attached 1‑car garage
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
$22,750
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
6.15%
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%
$455,000
$455.0K
Cap Rate 7%
$325,000
$325.0K
Cap Rate 9%
$252,778
$252.8K
Market Conditions
NOI Build-Up for 2,466 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
$34.0K $13.80/SF
− Vacancy
−$1.5K −$0.62/SF
EGI
$32.5K $13.18/SF
− OpEx
−$9.7K −$3.95/SF
NOI
$22.7K $9.23/SF
Area
Rock County, WI
Vacancy
4.50%
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%
$455,000
Cap Rate 7%
$325,000
Cap Rate 9%
$252,778
Alternative Uses
Best Use
Multifamily LT 5
$325.0K
$284.4K – $379.2K
NOI $22,750 @ 7.0% cap · market cap 6.15%
Second Best
Apartment 5plus
$285.7K
$250.0K – $333.3K
NOI $19,999 @ 7.0% cap · market cap 5.41%
Theoretical Best
Office A
$592.6K
$518.5K – $691.4K
NOI $41,482 @ 7.0% cap · market cap 11.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
154
Businesses Nearby
Explore this area
Business Placement
Demographics for 53548, WI
19,233
Population
8,894
Households
2.2
Avg Household Size
40
Median Age
27%
College-Educated
94%
High-School Grad
75.0 sq mi
ZIP Area
256
Density / Sq Mi
$74,696
Median Household Income
$41,508
Median Earnings
$999
Median Rent
$226,600
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 - Duplex on a quiet cul-de-sac with two tenant-occupied 3-bedroom units and attached garages.
Where is this duplex located?
The property is located at 2626 Harvard Drive Janesville, WI.
What is the asking price?
The asking price for this property is $369,900.
What are key features of this property?
This property features: 1984‑built duplex on a quiet cul‑de‑sac with two tenant‑occupied 3‑bedroom units; Unit at 533 Harvard: 3 bedrooms, 2.5 baths, private primary suite, and attached oversized 2‑car garage; Unit at 2626 Harvard: 3 bedrooms, 1.5 baths, and attached 1‑car garage
