Four-Bedroom Residential Income
For Sale
$379,900
380 West Sunset Drive, Milton, WI 53563
Well-maintained condo with a finished lower level, private entry, patio, and no condo fees or association dues.
Property Size2,362 SF
Price / SF$160.84
Days on Market125
Property Features for 380 West Sunset Drive
General Information
Standard status
Active
Size
2,362 SF
Property subtype
Condo / Ranch-1 Story
Zoning
R
Additional Details
Highway Access
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$4,863
Amenities
Flagpole, curtains, lower level mini fridge, LL microwave, some plants in yard
Refrigerator, dishwasher, microwave, water softener (owned), washer, dryer & blinds
Forced air, Central air
Walk-in closet(s), Vaulted ceiling, Washer, Dryer, Water softener included, Security system for Unit, Wet bar, Cable/Satellite Available, At Least 1 tub, Split bedrooms, Internet -Fiber Available, Smart doorbell
Vinyl
Gas
Private Entry, Patio
Building Details
Year Built
2006
Listing Agency:
Coldwell Banker The Realty Group
(608) 290-9707
Listed By:
Lynnette Wirth · License #90088-94
(608) 290-9707
Source:
Compass
Added: Apr 30
Changed: Aug 30
Last Checked: Aug 30 at 8:58AM
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 Coldwell Banker The Realty Group
Investment Insights
Based on property information with market context.
This 2,362-square-foot residential income property is a well-maintained condo built in 2006, offering four bedrooms and three full bathrooms across two levels. The main floor includes a primary suite with a walk-in closet, step-in shower, and soaking tub, along with two additional bedrooms, a full bathroom, and an open connection between the kitchen, dining area, and living room. An enclosed three-season room adds flexible interior space.
The lower level expands the layout with a family room, kitchenette, dining area, fourth bedroom, and full bathroom. A walkout leads to the patio, while the property also provides a private entry, forced-air heating, central air, owned water softener, washer, dryer, refrigerator, dishwasher, and microwave. The home has access to Highway 59 and Highway 26 and carries R zoning. No condo fees or association dues are reported.
The lower level expands the layout with a family room, kitchenette, dining area, fourth bedroom, and full bathroom. A walkout leads to the patio, while the property also provides a private entry, forced-air heating, central air, owned water softener, washer, dryer, refrigerator, dishwasher, and microwave. The home has access to Highway 59 and Highway 26 and carries R zoning. No condo fees or association dues are reported.
Key Highlights
- Four‑bedroom, three‑bathroom condo with 2,362 square feet
- Finished lower level with family room, kitchenette, dining area, bedroom, and full bathroom
- Primary suite includes a walk‑in closet, step‑in shower, and soaking 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
$19,156
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
5.04%
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%
$383,120
$383.1K
Cap Rate 7%
$273,657
$273.7K
Cap Rate 9%
$212,844
$212.8K
Market Conditions
NOI Build-Up for 2,362 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
$36.3K $15.36/SF
− Vacancy
−$1.5K −$0.61/SF
EGI
$34.8K $14.75/SF
− OpEx
−$15.7K −$6.64/SF
NOI
$19.2K $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%
$383,120
Cap Rate 7%
$273,657
Cap Rate 9%
$212,844
Alternative Uses
Best Use
Apartment 5plus
$273.7K
$239.5K – $319.3K
NOI $19,156 @ 7.0% cap · market cap 5.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$567.6K
$496.7K – $662.2K
NOI $39,733 @ 7.0% cap · market cap 10.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
134
Businesses Nearby
Explore this area
Business Placement
Demographics for 53563, WI
11,503
Population
4,672
Households
2.5
Avg Household Size
42
Median Age
31%
College-Educated
96%
High-School Grad
67.0 sq mi
ZIP Area
172
Density / Sq Mi
$89,397
Median Household Income
$47,742
Median Earnings
$972
Median Rent
$270,800
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Well-maintained condo with a finished lower level, private entry, patio, and no condo fees or association dues.
Where is this residential income property located?
The property is located at 380 West Sunset Drive Milton, WI.
What is the asking price?
The asking price for this property is $379,900.
What are key features of this property?
This property features: Four‑bedroom, three‑bathroom condo with 2,362 square feet; Finished lower level with family room, kitchenette, dining area, bedroom, and full bathroom; Primary suite includes a walk‑in closet, step‑in shower, and soaking tub
