Listing Agency: Shorewest Realtors, Inc. k***@shorewest.com Show Phone

Listed By: Katherine Baumbach · License #4839190 Show Phone

Source: Exprealty

Added: May 15 Changed: Aug 8 Last Checked: Aug 9 at 10:25AM

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Investment Insights

Based on property information with market context.

This duplex offers 1,260 square feet of residential income property space and includes all major appliances. The roof is approximately 5 years old, while a detached garage provides room for 2 cars. A backyard adds outdoor space to the property. The building needs some TLC, creating a renovation component for an owner-occupant or investor evaluating improvements.

The property is located in the Village of Walworth, close to downtown Walworth, shops, and restaurants. Its two-unit configuration, existing garage, appliance package, and established roof replacement provide a defined physical starting point for future ownership plans.

Key Highlights

• Duplex configuration in the Village of Walworth
• 1,260 square feet of property space
• Detached 2‑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

$13,574

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

7.18%

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%

$271,480 $271.5K

Cap Rate 7%

$193,914 $193.9K

Cap Rate 9%

$150,822 $150.8K

Market Conditions

NOI Build-Up for 1,260 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

$20.4K $16.20/SF

− Vacancy

−$1.0K −$0.81/SF

EGI

$19.4K $15.39/SF

− OpEx

−$5.8K −$4.62/SF

NOI

$13.6K $10.77/SF

Area

Walworth County, WI

Vacancy

5.00%

Lease Rate

$16.20 /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%

$271,480

Cap Rate 7%

$193,914

Cap Rate 9%

$150,822

Alternative Uses

Best Use

Multifamily LT 5

$193.9K

$169.7K – $226.2K (±1% cap)

NOI $13,574 @ 7.0% cap · market cap 7.18%

Second Best

Apartment 5plus

$180.4K

$157.8K – $210.5K (±1% cap)

NOI $12,627 @ 7.0% cap · market cap 6.68%

Theoretical Best

Specialty Retail

$243.2K

$212.8K – $283.7K (±1% cap)

NOI $17,021 @ 7.0% cap · market cap 9.01%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Duplexes

Suggested Use

Top Pick Plumbing Service Dental Office Bakery Grocery & Convenience Store (Bike/Boat/Book/etc) Store Garden Center

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

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

210

Businesses Nearby

Explore this area Business Placement

Demographics for 53184, WI

4,096

Population

1,644

Households

2.5

Avg Household Size

42

Median Age

26%

College-Educated

86%

High-School Grad

30.9 sq mi

ZIP Area

133

Density / Sq Mi

$76,875

Median Household Income

$39,014

Median Earnings

$991

Median Rent

$279,300

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Duplex - Two-unit property with included appliances, a newer roof, and outdoor space near downtown amenities.

Where is this duplex located?

The property is located at 318 Madison St Walworth, WI.

What is the asking price?

The asking price for this property is $189,000.

What are key features of this property?

This property features: Duplex configuration in the Village of Walworth; 1,260 square feet of property space; Detached 2‑car garage