Condominium Income
399 Michele Street Mount Horeb, WI 53572
399 Michele Street, Mount Horeb, WI, 53572
$400,000
Pending
For Sale
$400,000
Pending
Condo with tile kitchen, finished lower level with recreation space and full bath, plus composite decking and private yard.
Property Size2,291 SF
Days on Market250
Property Features for 399 Michele Street
General Information
- Standard status
- Pending
- Size
- 2,291 SF
- Property subtype
- Condo / Ranch-1 Story
Building Details
- Year Built
- 2000
Listing agency
Real Broker LLC
(224) 639-0114
Listed by
Brittany Wenninger · License #92470-94
(224) 639-0114
Source
Compass
Added: Nov 14, 2025 Updated: Jul 21 at 9:18PM Checked: Jul 21 at 9:18PM
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 Real Broker LLC
Investment Insights
Based on property information with market context.
This condo presents a practical, liveable layout with a spacious kitchen featuring tile flooring, ample cabinetry, and a dishwasher. The kitchen flows into a bright living area with plush carpet. The expansive lower level includes recreation space, a bonus room, and a full bathroom, providing additional functional area.
Outside, residents can enjoy composite decking overlooking a large, private yard with mature trees. Recent major components include a roof replacement in 2019 and a water heater replacement in 2022.
The property is offered for sale as a residential income condo with an attached configuration and dedicated interior living space arranged across the main and lower levels.
Outside, residents can enjoy composite decking overlooking a large, private yard with mature trees. Recent major components include a roof replacement in 2019 and a water heater replacement in 2022.
The property is offered for sale as a residential income condo with an attached configuration and dedicated interior living space arranged across the main and lower levels.
Key Highlights
- 2000‑built Mount Horeb condo with private entry and vinyl exterior
- Kitchen with tile flooring and includes stove/oven, dishwasher, refrigerator, and microwave
- Forced air heating with central air, plus water softener included
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $35.2k | $15.36 |
| − Vacancy | −$1.6k | −$0.69 |
| EGI | $33.6k | $14.67 |
| − OpEx | −$15.1k | −$6.60 |
| NOI | $18.5k | $8.07 |
2,291 SF · lease $15.36/SF/yr · vacancy 4.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$264.0K
$231.0K – $308.1K
NOI $18,483 @ 7.0% cap · market cap 4.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$532.4K
$465.8K – $621.1K
NOI $37,267 @ 7.0% cap · market cap 9.32%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Residential income properties
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FAQs
What type of property is this?
Residential income property - Condo with tile kitchen, finished lower level with recreation space and full bath, plus composite decking and private yard.
Where is this residential income property located?
The property is located at 399 Michele Street Mount Horeb, WI.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: 2000‑built Mount Horeb condo with private entry and vinyl exterior; Kitchen with tile flooring and includes stove/oven, dishwasher, refrigerator, and microwave; Forced air heating with central air, plus water softener included
