Two-Bedroom Residential Income
For Sale
$235,000
4105 Mackinac Drive, Janesville, WI 53546
An updated kitchen, finished lower level, patio, and two-car garage provide practical space across both levels.
Property Size1,531 SF
Price / SF$153.49
Days on Market86
Property Features for 4105 Mackinac Drive
General Information
Standard status
Active
Size
1,531 SF
Total Parking Spaces
2
Property subtype
Condo / Ranch-1 Story
Zoning
Res
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,207
Amenities
Stove, Refrigerator, Washer, Dryer, Water Softener, Microwave, Most of the Shelving
Forced air, Central air
Washer, Dryer, Water softener included, At Least 1 tub, Internet - Cable, Carbon Monoxide Detector, Smoke Detector
Aluminum/Steel, Composition
Private Entry, Patio
Building Details
Year Built
1991
Listing Agency:
Shorewest, REALTORS
(608) 751-5868
Listed By:
Mary Gilbank · License #36586-90
(608) 751-5868
Source:
Compass
Added: Jun 8
Changed: Aug 30
Last Checked: Aug 30 at 10:00AM
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 Shorewest, REALTORS
Investment Insights
Based on property information with market context.
This 1,531-square-foot residential income property, built in 1991, includes two bedrooms and two bathrooms. The main level combines an updated kitchen with new countertops and backsplash, an eat-in dining area, and a living room. Laundry hookups, a walk-in shower, and garage-level accessible entry are also provided on this floor.
The finished lower level expands the usable interior with a family room, bathroom, office or den, side-by-side sink, additional laundry hookups, and substantial storage. Exterior features include a private entry, patio, and fencing between the neighboring unit. A two-car garage adds storage capacity, while the property is located on Mackinac Drive in Janesville, Wisconsin, and carries Res zoning.
The finished lower level expands the usable interior with a family room, bathroom, office or den, side-by-side sink, additional laundry hookups, and substantial storage. Exterior features include a private entry, patio, and fencing between the neighboring unit. A two-car garage adds storage capacity, while the property is located on Mackinac Drive in Janesville, Wisconsin, and carries Res zoning.
Key Highlights
- 1,531 SF residential income property with two bedrooms and two bathrooms
- Updated kitchen with new countertops and backsplash
- Finished lower level with family room, bathroom, office or den, sink, laundry hookups, and storage
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
$12,417
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
5.28%
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%
$248,340
$248.3K
Cap Rate 7%
$177,386
$177.4K
Cap Rate 9%
$137,967
$138.0K
Market Conditions
NOI Build-Up for 1,531 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
$23.5K $15.36/SF
− Vacancy
−$941 −$0.61/SF
EGI
$22.6K $14.75/SF
− OpEx
−$10.2K −$6.64/SF
NOI
$12.4K $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%
$248,340
Cap Rate 7%
$177,386
Cap Rate 9%
$137,967
Alternative Uses
Best Use
Apartment 5plus
$177.4K
$155.2K – $207.0K
NOI $12,417 @ 7.0% cap · market cap 5.28%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$367.9K
$321.9K – $429.2K
NOI $25,754 @ 7.0% cap · market cap 10.96%
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
364
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 - An updated kitchen, finished lower level, patio, and two-car garage provide practical space across both levels.
Where is this residential income property located?
The property is located at 4105 Mackinac Drive Janesville, WI.
What is the asking price?
The asking price for this property is $235,000.
What are key features of this property?
This property features: 1,531 SF residential income property with two bedrooms and two bathrooms; Updated kitchen with new countertops and backsplash; Finished lower level with family room, bathroom, office or den, sink, laundry hookups, and storage
