Two-Story Duplex Income
285 North Bonson Street Platteville, WI 53818
For Sale
$199,000
Pending
Well-maintained two-story duplex with two rental units, each with central air and natural gas forced-air heat.
Property Size1,834 SF
Days on Market181
Property Features for 285 North Bonson Street
General Information
- Standard status
- Pending
- Size
- 1,834 SF
- Property subtype
- Multi Family / 2 story
Building Details
- Year Built
- 1890
Listing Agency:
Platteville Realty LLC
(608) 778-7344
Listed By:
Merv Brenum · License #50027-90
(608) 778-7344
Source:
Compass
Added: Jan 23
Changed: Jul 23
Last Checked: Jul 23 at 2:27PM
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 Platteville Realty LLC
Investment Insights
Based on property information with market context.
Well maintained two-story duplex featuring two separate rental units. The first-floor unit offers two bedrooms, including a bedroom located in the basement with an access window, and includes a stack laundry unit in the kitchen, hardwood floors, natural woodwork, French doors, natural gas forced-air heat, and central air. The unit also includes a one-car carport.
The second-floor unit is a one-bedroom layout with natural gas forced-air heat and central air, along with a stack laundry unit located in the first-floor entryway and a one-car cement parking pad. Both units are currently under lease through 5/31/2026.
Set up for straightforward residential income use, the property provides dedicated parking/carport for each unit and a functional split between floor levels, with laundry accommodations serving each apartment.
The second-floor unit is a one-bedroom layout with natural gas forced-air heat and central air, along with a stack laundry unit located in the first-floor entryway and a one-car cement parking pad. Both units are currently under lease through 5/31/2026.
Set up for straightforward residential income use, the property provides dedicated parking/carport for each unit and a functional split between floor levels, with laundry accommodations serving each apartment.
Key Highlights
- Well‑maintained two‑story duplex built in 1890 with 2 rental units.
- First‑floor 2‑bedroom unit rents for $600/month through 5/31/2026.
- Second‑floor 1‑bedroom unit rents for $575/month through 5/31/2026.
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 | $24.9k | $13.56 |
| − Vacancy | −$1.9k | −$1.03 |
| EGI | $23.0k | $12.53 |
| − OpEx | −$6.9k | −$3.76 |
| NOI | $16.1k | $8.77 |
1,834 SF · lease $13.56/SF/yr · vacancy 7.60% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$229.8K
$201.1K – $268.1K
NOI $16,085 @ 7.0% cap · market cap 8.08%
Second Best
Apartment 5plus
$211.6K
$185.1K – $246.9K
NOI $14,811 @ 7.0% cap · market cap 7.44%
Theoretical Best
Office A
$507.7K
$444.3K – $592.4K
NOI $35,541 @ 7.0% cap · market cap 17.86%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Well-maintained two-story duplex with two rental units, each with central air and natural gas forced-air heat.
Where is this duplex located?
The property is located at 285 North Bonson Street Platteville, WI.
What is the asking price?
The asking price for this property is $199,000.
What are key features of this property?
This property features: Well‑maintained two‑story duplex built in 1890 with 2 rental units.; First‑floor 2‑bedroom unit rents for $600/month through 5/31/2026.; Second‑floor 1‑bedroom unit rents for $575/month through 5/31/2026.
