Building Details

Year Built 2019

Listing Agency: First Weber Inc v***@firstweber.com Show Phone

Listed By: Tommy Van Ess · License #56689-90 Show Phone

Source: Compass

Added: May 29 Changed: Aug 31 Last Checked: Aug 30 at 10:51AM

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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 First Weber Inc

Investment Insights

Based on property information with market context.

This 1,400-square-foot condominium was built in 2019 and features an open interior arrangement with wide hallways, wide doorways, and a no-step entrance. The kitchen includes a large pantry and connects with the living room and sunroom. A covered deck extends the living area outdoors, while the primary suite offers a private bathroom with a low-threshold shower. Additional interior features include a walk-in closet, forced-air heating, central air, a fireplace, water softener, and included laundry appliances.

The unit is positioned across from the village park and includes a private entry with an adjacent park or public-land setting. The lower level has 8-foot ceilings and is stubbed for a bathroom, providing existing space for future finishing. Vinyl and stone exterior materials complete the property.

Key Highlights

• 1,400‑square‑foot condominium built in 2019
• Across from the village park with adjacent park or public‑land setting
• No‑step entry with wide hallways and doorways

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

$14,871

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

3.54%

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%

$297,420 $297.4K

Cap Rate 7%

$212,443 $212.4K

Cap Rate 9%

$165,233 $165.2K

Market Conditions

NOI Build-Up for 1,400 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

$28.2K $20.16/SF

− Vacancy

−$1.2K −$0.85/SF

EGI

$27.0K $19.31/SF

− OpEx

−$12.2K −$8.69/SF

NOI

$14.9K $10.62/SF

Area

Waukesha County, WI

Vacancy

4.20%

Lease Rate

$20.16 /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%

$297,420

Cap Rate 7%

$212,443

Cap Rate 9%

$165,233

Alternative Uses

Best Use

Apartment 5plus

$212.4K

$185.9K – $247.9K (±1% cap)

NOI $14,871 @ 7.0% cap · market cap 3.54%

Second Best

—

—

no second resolved use

Theoretical Best

Flex RnD

$714.5K

$625.2K – $833.6K (±1% cap)

NOI $50,016 @ 7.0% cap · market cap 11.91%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Residential income properties

Suggested Use

Top Pick Real Estate Agency Building Supply Dental Office Auto Repair Shop Restaurant Law Firm

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

80

Businesses Nearby

Explore this area Business Placement

Demographics for 53119, WI

5,751

Population

2,440

Households

2.4

Avg Household Size

45

Median Age

38%

College-Educated

97%

High-School Grad

40.0 sq mi

ZIP Area

144

Density / Sq Mi

$115,292

Median Household Income

$60,360

Median Earnings

$1,037

Median Rent

$373,600

Median Home Value

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Frequently Asked Questions

What type of property is this?

Residential income property - 2019 condo with accessible entry, open living areas, covered outdoor space, and an unfinished lower level prepared for future completion.

Where is this residential income property located?

The property is located at 306 Markham Road Unit 202 Eagle, WI.

What is the asking price?

The asking price for this property is $419,900.

What are key features of this property?

This property features: 1,400‑square‑foot condominium built in 2019; Across from the village park with adjacent park or public‑land setting; No‑step entry with wide hallways and doorways