Spacious Duplex Investment
2938-2940 Traceway Drive Madison, WI 53713
2938-2940 Traceway Drive, Madison, WI, 53713
$475,000
For Sale
$475,000
Two-unit duplex at 2938–2940 Traceway Drive with showings beginning during the 3/28–3/29 open houses.
Property Size2,800 SF
Price / SF$169.64
Days on Market119
Property Features for 2938-2940 Traceway Drive
General Information
- Standard status
- Active
- Size
- 2,800 SF
- Property subtype
- Multi Family / Duplex-side by side
Building Details
- Year Built
- 1980
Listing agency
Realty Executives Cooper Spransy
(608) 886-7269
Listed by
Andrew Genin · License #77367-94
(608) 886-7269
Source
Compass
Added: Mar 26 Updated: Jul 21 at 1:55PM Checked: Jul 21 at 1:55PM
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 Realty Executives Cooper Spransy
Investment Insights
Based on property information with market context.
This spacious duplex at 2938–2940 Traceway Drive in Madison, WI 53713 offers a two-unit residential income setup. Showings are scheduled to begin during the open houses on 3/28–3/29, with additional photos expected soon.
The property is described as tucked just behind Leopold Elementary School and down the road from Aldo Leopold Park. The park is noted as including a community garden, pump track, and manicured nature paths. The remarks also cite shopping nearby and easy access to the Beltline and bus routes, supporting everyday convenience for tenants and residents.
If you’re looking for a duplex format in an established residential setting, this one is being presented as a cash-flowing investment in the current listing materials, with the primary on-site details to be confirmed in the upcoming photo release and during showings.
The property is described as tucked just behind Leopold Elementary School and down the road from Aldo Leopold Park. The park is noted as including a community garden, pump track, and manicured nature paths. The remarks also cite shopping nearby and easy access to the Beltline and bus routes, supporting everyday convenience for tenants and residents.
If you’re looking for a duplex format in an established residential setting, this one is being presented as a cash-flowing investment in the current listing materials, with the primary on-site details to be confirmed in the upcoming photo release and during showings.
Key Highlights
- Two‑unit duplex at 2938–2940 Traceway Drive; showings begin during the 3/28–3/29 open houses
- Built in 1980
- Full basement with full‑size windows; partially finished
Local 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 | $55.4k | $19.80 |
| − Vacancy | −$2.5k | −$0.89 |
| EGI | $52.9k | $18.91 |
| − OpEx | −$15.9k | −$5.67 |
| NOI | $37.1k | $13.24 |
2,800 SF · lease $19.80/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$529.5K
$463.3K – $617.7K
NOI $37,062 @ 7.0% cap · market cap 7.80%
Second Best
Apartment 5plus
$490.6K
$429.3K – $572.4K
NOI $34,345 @ 7.0% cap · market cap 7.23%
Theoretical Best
Office A
$817.9K
$715.7K – $954.2K
NOI $57,254 @ 7.0% cap · market cap 12.05%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - Two-unit duplex at 2938–2940 Traceway Drive with showings beginning during the 3/28–3/29 open houses.
Where is this duplex located?
The property is located at 2938-2940 Traceway Drive Madison, WI.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Two‑unit duplex at 2938–2940 Traceway Drive; showings begin during the 3/28–3/29 open houses; Built in 1980; Full basement with full‑size windows; partially finished
