Residential Income Property with
For Sale
$509,900
3711 Newcastle Drive Unit 35, Janesville, WI 53546
Newly built condo with three bedrooms, three baths, a private entry, and a partially finished lower level.
Property Size2,576 SF
Price / SF$197.94
Days on Market153
Property Features for 3711 Newcastle Drive Unit 35
General Information
Standard status
Active
Size
2,576 SF
Property subtype
Condo / Ranch-1 Story
Zoning
r1
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,200
Amenities
Microwave, Dishwasher, Disposal, Water Softener and builder 1 year warranty
Forced air, Central air
Wood or sim. wood floors, Walk-in closet(s), Great room, Vaulted ceiling, Water softener included, Cable/Satellite Available, At Least 1 tub, Split bedrooms, Smart doorbell, Smart thermostat
Vinyl, Stone
Private Entry, Patio
Building Details
Year Built
2025
Listing Agency:
Advantage Homes, Inc
(608) 590-6202
Listed By:
Tina Gould · License #111374-94
(608) 590-6202
Source:
Compass
Added: Apr 2
Changed: Aug 31
Last Checked: Aug 30 at 3:12AM
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 Advantage Homes, Inc
Investment Insights
Based on property information with market context.
Completed in 2025, this 2,576-square-foot condo offers three bedrooms and three bathrooms within a residential income property classification. The main level centers on a great room with a 14-foot ceiling, while the kitchen includes quartz countertops, a tiled backsplash, maple cabinetry with soft-close hardware, a microwave, dishwasher, disposal, and water softener. The owner’s suite includes a tiled walk-in shower and walk-in closet.
The lower level is partially finished and provides additional storage. Interior features include forced-air heating, central air, wood or simulated wood flooring, vaulted ceilings, split-bedroom design, a smart doorbell, and a smart thermostat. A private entry and patio add exterior functionality, with vinyl and stone finishes. The property is located at 3711 Newcastle Drive, Unit 35, Janesville, Wisconsin 53546, and includes a builder’s 1-year warranty.
The lower level is partially finished and provides additional storage. Interior features include forced-air heating, central air, wood or simulated wood flooring, vaulted ceilings, split-bedroom design, a smart doorbell, and a smart thermostat. A private entry and patio add exterior functionality, with vinyl and stone finishes. The property is located at 3711 Newcastle Drive, Unit 35, Janesville, Wisconsin 53546, and includes a builder’s 1-year warranty.
Key Highlights
- 2,576‑square‑foot condo completed in 2025
- Three bedrooms and three bathrooms
- 14‑foot great‑room ceiling with vaulted interior design
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
$20,892
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
4.10%
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%
$417,840
$417.8K
Cap Rate 7%
$298,457
$298.5K
Cap Rate 9%
$232,133
$232.1K
Market Conditions
NOI Build-Up for 2,576 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
$39.6K $15.36/SF
− Vacancy
−$1.6K −$0.61/SF
EGI
$38.0K $14.75/SF
− OpEx
−$17.1K −$6.64/SF
NOI
$20.9K $8.11/SF
Area
Rock County, WI
Vacancy
4.00%
Lease Rate
$15.36 /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%
$417,840
Cap Rate 7%
$298,457
Cap Rate 9%
$232,133
Alternative Uses
Best Use
Apartment 5plus
$298.5K
$261.2K – $348.2K
NOI $20,892 @ 7.0% cap · market cap 4.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$619.0K
$541.7K – $722.2K
NOI $43,332 @ 7.0% cap · market cap 8.50%
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
178
Businesses Nearby
Explore this area
Business Placement
Demographics for 53546, WI
31,190
Population
12,816
Households
2.4
Avg Household Size
41
Median Age
26%
College-Educated
95%
High-School Grad
81.1 sq mi
ZIP Area
385
Density / Sq Mi
$73,430
Median Household Income
$45,481
Median Earnings
$1,076
Median Rent
$220,100
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Newly built condo with three bedrooms, three baths, a private entry, and a partially finished lower level.
Where is this residential income property located?
The property is located at 3711 Newcastle Drive Unit 35 Janesville, WI.
What is the asking price?
The asking price for this property is $509,900.
What are key features of this property?
This property features: 2,576‑square‑foot condo completed in 2025; Three bedrooms and three bathrooms; 14‑foot great‑room ceiling with vaulted interior design
