Updated Residential Income
For Sale
$430,000
330 Waite Lane, Platteville, WI 53818
Freestanding condo with multiple living areas, a private deck, finished lower level, and an extra-deep garage.
Property Size2,862 SF
Price / SF$150.24
Days on Market269
Property Features for 330 Waite Lane
General Information
Standard status
Active
Size
2,862 SF
Total Parking Spaces
2
Property subtype
Condo / Ranch-1 Story
Zoning
Condo
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$5,609
Amenities
gas fireplace
sun room
private deck
wet bar
Seller's Personal Property
Refrigerator, Trash Compactor, Cooktop, Wall Oven, Dishwasher, Microwave, Washer, Dryer, Water Softener
Forced air, Central air
Wood or sim. wood floors, Washer, Dryer, Water softener included, Wet bar, At Least 1 tub, Split bedrooms
Vinyl, Stone
Gas, 1 fireplace
Private Entry, Deck/Balcony, Cul de Sac
Building Details
Year Built
2012
Listing Agency:
Realty Executives Cooper Spransy
(608) 215-4143
Listed By:
Brandon Buell · License #53583-90
(608) 215-4143
Source:
Compass
Added: Dec 6, 2025
Changed: Aug 31
Last Checked: Aug 31 at 5:25AM
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 freestanding condo provides 2,862 square feet of finished living space across a flexible multi-level layout. Built in 2012, the home includes a main-floor living room with wood flooring and a gas fireplace, along with an updated kitchen, dining area, and sunroom. The primary suite is located on the main level and includes a walk-in shower and jetted tub. Additional bedrooms and a shared bath support guest accommodations or flexible household use.
The finished lower level adds a family room, recreation room with wet bar, fifth bedroom, and full bath. An extra-deep two-car garage offers near four-car capacity for storage or projects. Additional features include forced-air heat, central air, a private deck, vinyl and stone exterior finishes, and a cul-de-sac setting. Condo zoning is identified for the property.
The finished lower level adds a family room, recreation room with wet bar, fifth bedroom, and full bath. An extra-deep two-car garage offers near four-car capacity for storage or projects. Additional features include forced-air heat, central air, a private deck, vinyl and stone exterior finishes, and a cul-de-sac setting. Condo zoning is identified for the property.
Key Highlights
- 2,862 SF freestanding condo built in 2012
- Finished lower level with family room, rec room, wet bar, 5th bedroom, and full bath
- Main‑floor primary suite with walk‑in shower and jetted tub
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
$23,113
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
5.38%
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%
$462,260
$462.3K
Cap Rate 7%
$330,186
$330.2K
Cap Rate 9%
$256,811
$256.8K
Market Conditions
NOI Build-Up for 2,862 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
$45.7K $15.96/SF
− Vacancy
−$3.7K −$1.28/SF
EGI
$42.0K $14.68/SF
− OpEx
−$18.9K −$6.61/SF
NOI
$23.1K $8.08/SF
Area
Grant County, WI
Vacancy
8.00%
Lease Rate
$15.96 /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%
$462,260
Cap Rate 7%
$330,186
Cap Rate 9%
$256,811
Alternative Uses
Best Use
Apartment 5plus
$330.2K
$288.9K – $385.2K
NOI $23,113 @ 7.0% cap · market cap 5.38%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$792.3K
$693.3K – $924.4K
NOI $55,463 @ 7.0% cap · market cap 12.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
67
Businesses Nearby
Explore this area
Business Placement
Demographics for 53818, WI
15,786
Population
6,146
Households
2.6
Avg Household Size
28
Median Age
39%
College-Educated
93%
High-School Grad
154.4 sq mi
ZIP Area
102
Density / Sq Mi
$55,615
Median Household Income
$20,296
Median Earnings
$887
Median Rent
$214,200
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Freestanding condo with multiple living areas, a private deck, finished lower level, and an extra-deep garage.
Where is this residential income property located?
The property is located at 330 Waite Lane Platteville, WI.
What is the asking price?
The asking price for this property is $430,000.
What are key features of this property?
This property features: 2,862 SF freestanding condo built in 2012; Finished lower level with family room, rec room, wet bar, 5th bedroom, and full bath; Main‑floor primary suite with walk‑in shower and jetted tub
