Studio Residential Income
For Sale
Contact for pricing
417 State Street, Madison, WI 53703
The unit has hardwood flooring, two windows, a stove, and a refrigerator; laundry is available on-site.
Property Size500 SF
Price / SF$1.65
Days on Market197
Property Features for 417 State Street
General Information
Standard status
Active
Size
500 SF
Property subtype
Apartment
Site & Location
Neighborhood
Capitol Neighborhoods
Amenities
laundry on-site
secured entries
Building Details
Building Size
500 SF
Listing Agency:
OnePlus Realty Team
Listed By:
Christine Shan · License #5277590
(608) 219-4738
Source:
Mhbrealestate
Added: Apr 21
Changed: Oct 29
Last Checked: Nov 3 at 8:28AM
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 OnePlus Realty Team
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 500-square-foot studio has hardwood flooring and two large windows. A stove and refrigerator are included, while bathrooms are shared. Building features include secured entry and on-site laundry. Rent includes utilities.
The property is at 417 State Street in downtown Madison, within walking distance of shops, restaurants, the Overture Center, the Capitol, and UW–Madison.
The property is at 417 State Street in downtown Madison, within walking distance of shops, restaurants, the Overture Center, the Capitol, and UW–Madison.
Key Highlights
- 500‑square‑foot studio with hardwood flooring and two large windows
- Stove and refrigerator included; bathrooms are shared
- Secured building entry and on‑site laundry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$6,133
Suggested Prices Based on Cap Rates
Cap Rate 5%
$122,660
$122.7K
Cap Rate 7%
$87,614
$87.6K
Cap Rate 9%
$68,144
$68.1K
Market Conditions
NOI Build-Up for 500 SF
Gross rent
$11.6K $23.28/SF
− Vacancy
−$489 −$0.98/SF
EGI
$11.2K $22.30/SF
− OpEx
−$5.0K −$10.04/SF
NOI
$6.1K $12.27/SF
Area
Madison, WI
Vacancy
4.20%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$122,660
Cap Rate 7%
$87,614
Cap Rate 9%
$68,144
Alternative Uses
Best Use
Apartment 5plus
$87.6K
$76.7K – $102.2K
NOI $6,133 @ 7.0% cap · market cap 743.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$146.1K
$127.8K – $170.4K
NOI $10,224 @ 7.0% cap · market cap 1,239.27%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Location Intelligence
Trade Area within ½ mile
5,606
Businesses Nearby
Explore this area
Business Placement
Demographics for 53703, WI
38,512
Population
21,025
Households
1.8
Avg Household Size
27
Median Age
69%
College-Educated
98%
High-School Grad
1.8 sq mi
ZIP Area
21,396
Density / Sq Mi
$46,618
Median Household Income
$27,923
Median Earnings
$1,445
Median Rent
$472,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Frequently Asked Questions
What type of property is this?
Residential income property - The unit has hardwood flooring, two windows, a stove, and a refrigerator; laundry is available on-site.
Where is this residential income property located?
The property is located at 417 State Street Madison, WI.
What are key features of this property?
This property features: 500‑square‑foot studio with hardwood flooring and two large windows; Stove and refrigerator included; bathrooms are shared; Secured building entry and on‑site laundry
