Side-by-Side
For Sale
$205,000
308-310 West Madison Street, Spring Green, WI 53588
Two residential units with separate living spaces, long-term occupancy, and residential zoning on a sizable parcel.
Property Size1,792 SF
Price / SF$114.40
Days on Market162
Property Features for 308-310 West Madison Street
General Information
Standard status
Active
Size
1,792 SF
Property subtype
Multi Family / Duplex-side by side
Zoning
Res
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,391
Amenities
Other foundation
Natural Gas
Forced air
Seller/Tenant Personal Property
2 Refrigerators, 2 Ovens/Stoves, 2 Hood Vents
2
Vinyl
Building Details
Year Built
1900
Units
2
Listing Agency:
Stark Company, REALTORS
(715) 307-0051
Listed By:
Justin Hurajt · License #114323-94
(715) 307-0051
Source:
Compass
Added: Mar 22
Changed: Aug 29
Last Checked: Aug 29 at 8:01PM
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 Stark Company, REALTORS
Investment Insights
Based on property information with market context.
This side-by-side duplex contains two residential units within a property sized at 1792, with vinyl exterior construction and a 1900 build date. Each unit includes a refrigerator, oven/stove, and hood vent. Natural gas service and forced-air heating are also noted, while the property includes an other foundation type.
The duplex is located at 308-310 West Madison Street in Spring Green, Wisconsin, minutes from downtown and close to shops, dining, and local attractions. The property sits on nearly half an acre and includes a backyard. Both units are occupied by long-term tenants, providing an existing rental-occupancy profile for an owner or investor.
The duplex is located at 308-310 West Madison Street in Spring Green, Wisconsin, minutes from downtown and close to shops, dining, and local attractions. The property sits on nearly half an acre and includes a backyard. Both units are occupied by long-term tenants, providing an existing rental-occupancy profile for an owner or investor.
Key Highlights
- Side‑by‑side duplex with 2 residential units
- Property size: 1792; built in 1900
- Nearly half an acre with backyard
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
$16,359
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
7.98%
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%
$327,180
$327.2K
Cap Rate 7%
$233,700
$233.7K
Cap Rate 9%
$181,767
$181.8K
Market Conditions
NOI Build-Up for 1,792 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
$24.7K $13.80/SF
− Vacancy
−$1.4K −$0.76/SF
EGI
$23.4K $13.04/SF
− OpEx
−$7.0K −$3.91/SF
NOI
$16.4K $9.13/SF
Area
Sauk County, WI
Vacancy
5.50%
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%
$327,180
Cap Rate 7%
$233,700
Cap Rate 9%
$181,767
Alternative Uses
Best Use
Multifamily LT 5
$233.7K
$204.5K – $272.7K
NOI $16,359 @ 7.0% cap · market cap 7.98%
Second Best
Apartment 5plus
$211.9K
$185.4K – $247.2K
NOI $14,831 @ 7.0% cap · market cap 7.23%
Theoretical Best
Office A
$362.7K
$317.4K – $423.2K
NOI $25,392 @ 7.0% cap · market cap 12.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
276
Businesses Nearby
Explore this area
Business Placement
Demographics for 53588, WI
4,139
Population
1,944
Households
2.1
Avg Household Size
50
Median Age
32%
College-Educated
95%
High-School Grad
139.9 sq mi
ZIP Area
30
Density / Sq Mi
$88,359
Median Household Income
$47,407
Median Earnings
$956
Median Rent
$273,600
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 - Two residential units with separate living spaces, long-term occupancy, and residential zoning on a sizable parcel.
Where is this duplex located?
The property is located at 308-310 West Madison Street Spring Green, WI.
What is the asking price?
The asking price for this property is $205,000.
What are key features of this property?
This property features: Side‑by‑side duplex with 2 residential units; Property size: 1792; built in 1900; Nearly half an acre with backyard
