Updated Zero-Entrance
For Sale
$295,000
407 East Unit 4, Belleville, WI 53508
Move-in ready condo with newly painted interiors, new flooring, updated kitchen, and both patio and front porch.
Property Size1,240 SF
Price / SF$237.90
Days on Market124
Property Features for 407 East Unit 4
General Information
Standard status
Active
Size
1,240 SF
Property subtype
Condo / Ranch-1 Story
Zoning
RES
Taxes and HOA fees
Annual Taxes
$4,804
Amenities
fireplace
patio
front porch
breakfast bar
dining area
Some furnishings negotiable
Range/Oven, Refrigerator, Dishwasher, Microwave, Washer, Dryer, Water Softener
Forced air, Central air
Washer, Dryer, Water softener included, Cable/Satellite Available, At Least 1 tub, Internet - Cable
Vinyl
Gas
Private Entry, Patio
Building Details
Year Built
2007
Listing Agency:
Restaino & Associates
Listed By:
Lorri & Tanya Team
(608) 290-7112
Source:
Compass
Added: May 8
Changed: Aug 8
Last Checked: Jul 23 at 6:26PM
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 Restaino & Associates
Investment Insights
Based on property information with market context.
This zero-entrance condo offers an open, easy-flow layout designed for comfortable everyday living. The updated kitchen features newly painted cabinets and light fixtures, complemented by a breakfast bar and dining area for hosting. A fireplace adds a cozy focal point for relaxing during cooler seasons. Outside, enjoy both a patio and a front porch for morning or evening downtime.
The condo has been painted throughout, with new flooring in the living room and bedrooms, supporting a well-maintained feel. Located in Belleville, it provides easy access to anywhere.
Overall, the home is presented in ready-to-move condition with interior updates and practical indoor-outdoor spaces.
The condo has been painted throughout, with new flooring in the living room and bedrooms, supporting a well-maintained feel. Located in Belleville, it provides easy access to anywhere.
Overall, the home is presented in ready-to-move condition with interior updates and practical indoor-outdoor spaces.
Key Highlights
- Zero‑entrance condo built in 2007 with private entry
- Updated kitchen and newly painted cabinets plus light fixtures
- New flooring in the living room and bedrooms and the entire condo was painted
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
$10,004
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
3.39%
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%
$200,080
$200.1K
Cap Rate 7%
$142,914
$142.9K
Cap Rate 9%
$111,156
$111.2K
Market Conditions
NOI Build-Up for 1,240 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
$19.0K $15.36/SF
− Vacancy
−$857 −$0.69/SF
EGI
$18.2K $14.67/SF
− OpEx
−$8.2K −$6.60/SF
NOI
$10.0K $8.07/SF
Area
Dane County, WI
Vacancy
4.50%
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%
$200,080
Cap Rate 7%
$142,914
Cap Rate 9%
$111,156
Alternative Uses
Best Use
Apartment 5plus
$142.9K
$125.1K – $166.7K
NOI $10,004 @ 7.0% cap · market cap 3.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$288.1K
$252.1K – $336.2K
NOI $20,170 @ 7.0% cap · market cap 6.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
134
Businesses Nearby
Explore this area
Business Placement
Demographics for 53508, WI
5,477
Population
2,421
Households
2.3
Avg Household Size
42
Median Age
36%
College-Educated
97%
High-School Grad
67.9 sq mi
ZIP Area
81
Density / Sq Mi
$95,577
Median Household Income
$51,021
Median Earnings
$1,002
Median Rent
$330,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Move-in ready condo with newly painted interiors, new flooring, updated kitchen, and both patio and front porch.
Where is this residential income property located?
The property is located at 407 East Unit 4 Belleville, WI.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: Zero‑entrance condo built in 2007 with private entry; Updated kitchen and newly painted cabinets plus light fixtures; New flooring in the living room and bedrooms and the entire condo was painted
