Brick Ranch
For Sale
$630,000
417-419 Berwyn Drive, Madison, WI 53711
Two-unit property with oak floors, screened porches, basement storage, and a private garage near Hilldale Mall.
Property Size2,226 SF
Price / SF$283.02
Days on Market268
Property Features for 417-419 Berwyn Drive
General Information
Standard status
Active
Size
2,226 SF
Total Parking Spaces
2
Property subtype
Multi Family / Duplex-side by side
Zoning
SR-V1
Additional Details
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$9,040
Amenities
Poured concrete foundatn
Natural Gas
Radiant
all dishwasher, refrigerator, oven, cooktop, washer/dryer
2
1
Vinyl, Brick
Building Details
Year Built
1958
Buildings
1
Units
2
Construction
brick
Listing Agency:
Alexander Company Inc
Listed By:
Andrew Schmidt · License #55388-90
(608) 268-8116
Source:
Compass
Added: Dec 10, 2025
Changed: Sep 2
Last Checked: Aug 30 at 4:00PM
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 Alexander Company Inc
Investment Insights
Based on property information with market context.
Built in 1958, this 2,226-square-foot duplex has a brick and vinyl exterior, hardwood oak floors, screened porches, and updated appliances. The basement provides storage along with additional area that may be utilized. Natural gas service and radiant heat support the building, while a private two-car garage and backyard add functional exterior space. The property is zoned SR-V1 and includes dishwashers, refrigerators, ovens, cooktops, and washer/dryer equipment.
The duplex sits on Berwyn Drive near Hilldale Mall, with access to a bus line and West schools. The surrounding street is described as tree lined, and tenants handle snow and lawn care. The roof was replaced in 2022. Showings require 24 hours' notice, and the property is offered “As Is” with a licensee interest.
The duplex sits on Berwyn Drive near Hilldale Mall, with access to a bus line and West schools. The surrounding street is described as tree lined, and tenants handle snow and lawn care. The roof was replaced in 2022. Showings require 24 hours' notice, and the property is offered “As Is” with a licensee interest.
Key Highlights
- Duplex totaling 2,226 SF
- Roof replaced in 2022
- Private 2‑car garage and backyard
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
$29,464
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
4.68%
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%
$589,280
$589.3K
Cap Rate 7%
$420,914
$420.9K
Cap Rate 9%
$327,378
$327.4K
Market Conditions
NOI Build-Up for 2,226 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
$44.1K $19.80/SF
− Vacancy
−$2.0K −$0.89/SF
EGI
$42.1K $18.91/SF
− OpEx
−$12.6K −$5.67/SF
NOI
$29.5K $13.24/SF
Area
Madison, WI
Vacancy
4.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
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%
$589,280
Cap Rate 7%
$420,914
Cap Rate 9%
$327,378
Alternative Uses
Best Use
Multifamily LT 5
$420.9K
$368.3K – $491.1K
NOI $29,464 @ 7.0% cap · market cap 4.68%
Second Best
Apartment 5plus
$390.1K
$341.3K – $455.1K
NOI $27,305 @ 7.0% cap · market cap 4.33%
Theoretical Best
Office A
$650.2K
$569.0K – $758.6K
NOI $45,517 @ 7.0% cap · market cap 7.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
492
Businesses Nearby
Explore this area
Business Placement
Demographics for 53711, WI
51,448
Population
23,500
Households
2.2
Avg Household Size
37
Median Age
66%
College-Educated
97%
High-School Grad
26.0 sq mi
ZIP Area
1,979
Density / Sq Mi
$101,236
Median Household Income
$55,284
Median Earnings
$1,357
Median Rent
$387,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with oak floors, screened porches, basement storage, and a private garage near Hilldale Mall.
Where is this duplex located?
The property is located at 417-419 Berwyn Drive Madison, WI.
What is the asking price?
The asking price for this property is $630,000.
What are key features of this property?
This property features: Duplex totaling 2,226 SF; Roof replaced in 2022; Private 2‑car garage and backyard
