Spacious Duplex with Walkout
For Sale
$825,000
3301-3303 Prairie Road, Madison, WI 53719
Two attached residences offer generous layouts, private outdoor space, and substantial garage and basement storage.
Property Size5,116 SF
Price / SF$161.26
Days on Market237
Property Features for 3301-3303 Prairie Road
General Information
Standard status
Active
Size
5,116 SF
Property subtype
Multi Family / Duplex-side by side
Zoning
SR-C3
Taxes and HOA fees
Annual Taxes
$12,386
Amenities
Full, Full size windows/Exposed, Walkout to yard, Partially finished, Poured concrete foundatn
Natural Gas
Forced air
seller/tenant personal property.
Range/Oven(2), Refrigerator(2), Dishwasher(2), Disposal(2), Water Softeners(2).
2
Vinyl
Building Details
Year Built
1992
Units
2
Listing Agency:
First Weber Inc
(608) 234-1824
Listed By:
Jon Vanden Brook · License #58551-90
(608) 234-1824
Source:
Compass
Added: Jan 7
Changed: Aug 29
Last Checked: Mar 25 at 3:22PM
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 duplex contains two attached residences, each with 2,559 square feet of living space and an additional 600 square feet of basement storage beneath the excavated garage. Both sides feature hardwood flooring across the first and second levels, open interiors, oversized two-car garages, two full bathrooms, and one half bathroom. The lower level includes a bedroom, full bathroom, living area, natural light, and walkout access. Each residence also has a primary bedroom with a 7-by-24-foot walk-in closet, a private deck, a second 10-by-14-foot deck, and a fenced backyard.
Built in 1992 and zoned SR-C3, the property is located in the Verona School District at 3301-3303 Prairie Road, Madison, Wisconsin. The combination of residential-scale layouts, attached-unit configuration, garage capacity, and finished lower-level areas supports both owner-occupant and investment-oriented use as described in the property information.
Built in 1992 and zoned SR-C3, the property is located in the Verona School District at 3301-3303 Prairie Road, Madison, Wisconsin. The combination of residential-scale layouts, attached-unit configuration, garage capacity, and finished lower-level areas supports both owner-occupant and investment-oriented use as described in the property information.
Key Highlights
- Two attached residences, each with 2,559 square feet of living space
- Each side includes 600 square feet of basement storage beneath the excavated garage
- Oversized two‑car garage serving each residence
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
$67,717
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
8.21%
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%
$1,354,340
$1.4M
Cap Rate 7%
$967,386
$967.4K
Cap Rate 9%
$752,411
$752.4K
Market Conditions
NOI Build-Up for 5,116 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
$101.3K $19.80/SF
− Vacancy
−$4.6K −$0.89/SF
EGI
$96.7K $18.91/SF
− OpEx
−$29.0K −$5.67/SF
NOI
$67.7K $13.24/SF
Area
Madison, WI
Vacancy
4.50%
Lease Rate
$19.80 /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%
$1,354,340
Cap Rate 7%
$967,386
Cap Rate 9%
$752,411
Alternative Uses
Best Use
Multifamily LT 5
$967.4K
$846.5K – $1.13M
NOI $67,717 @ 7.0% cap · market cap 8.21%
Second Best
Apartment 5plus
$896.5K
$784.4K – $1.05M
NOI $62,754 @ 7.0% cap · market cap 7.61%
Theoretical Best
Office A
$1.49M
$1.31M – $1.74M
NOI $104,612 @ 7.0% cap · market cap 12.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
222
Businesses Nearby
Explore this area
Business Placement
Demographics for 53719, WI
32,151
Population
16,160
Households
2
Avg Household Size
35
Median Age
61%
College-Educated
96%
High-School Grad
10.2 sq mi
ZIP Area
3,152
Density / Sq Mi
$92,223
Median Household Income
$59,334
Median Earnings
$1,429
Median Rent
$349,300
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 attached residences offer generous layouts, private outdoor space, and substantial garage and basement storage.
Where is this duplex located?
The property is located at 3301-3303 Prairie Road Madison, WI.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: Two attached residences, each with 2,559 square feet of living space; Each side includes 600 square feet of basement storage beneath the excavated garage; Oversized two‑car garage serving each residence
