Building Details

Year Built 1974

Construction raised ranch

Tenancy Multi

Listing Agency: Shorewest Realtors, Inc.

Listed By: Joseph Toth · License #90493-94 Show Phone

Source: Compass

Added: Jun 25 Changed: Aug 8 Last Checked: Jul 28 at 12:27PM

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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, Inc.

Investment Insights

Based on property information with market context.

This raised ranch side-by-side duplex offers two separate units, each with 2 bedrooms and 1 bath. The layout includes spacious living areas and an attached garage, with a walk-out lower level for each unit. The property also sits on a large city lot with two generously sized outbuildings.

The duplex is located near schools and parks and provides easy access to downtown Horicon. With its owner-occupant or investor flexibility, the configuration is well suited for tenants who value private unit living within a single building.

Each unit’s 2-bedroom, 1-bath design and attached garage support straightforward day-to-day functionality, while the additional outbuilding space provides extra flexibility on the property.

Key Highlights

• Side‑by‑side duplex with two 2‑bedroom, 1‑bath units
• Each unit includes an attached garage and a walk‑out lower level
• Full poured concrete basement with dual entry

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

$16,223

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

5.41%

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%

$324,460 $324.5K

Cap Rate 7%

$231,757 $231.8K

Cap Rate 9%

$180,256 $180.3K

Market Conditions

NOI Build-Up for 1,816 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

$24.0K $13.20/SF

− Vacancy

−$796 −$0.44/SF

EGI

$23.2K $12.76/SF

− OpEx

−$7.0K −$3.83/SF

NOI

$16.2K $8.93/SF

Area

Dodge County, WI

Vacancy

3.32%

Lease Rate

$13.20 /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%

$324,460

Cap Rate 7%

$231,757

Cap Rate 9%

$180,256

Alternative Uses

Best Use

Multifamily LT 5

$231.8K

$202.8K – $270.4K (±1% cap)

NOI $16,223 @ 7.0% cap · market cap 5.41%

Second Best

Apartment 5plus

$214.8K

$188.0K – $250.6K (±1% cap)

NOI $15,036 @ 7.0% cap · market cap 5.01%

Theoretical Best

Office A

$394.5K

$345.2K – $460.3K (±1% cap)

NOI $27,615 @ 7.0% cap · market cap 9.21%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Duplexes

Suggested Use

Top Pick Real Estate Agency Law Firm Parking Lot & Garage Spa & Massage Center Building Supply Big Box & Wholesale Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

202

Businesses Nearby

Explore this area Business Placement

Demographics for 53032, WI

4,933

Population

2,372

Households

2.1

Avg Household Size

43

Median Age

16%

College-Educated

94%

High-School Grad

29.6 sq mi

ZIP Area

167

Density / Sq Mi

$53,564

Median Household Income

$38,041

Median Earnings

$835

Median Rent

$174,200

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Duplex - Side-by-side duplex with two 2-bedroom, 1-bath units, each with an attached garage and walk-out lower level.

Where is this duplex located?

The property is located at 418 Hamilton Place Unit 420 Horicon, WI.

What is the asking price?

The asking price for this property is $300,000.

What are key features of this property?

This property features: Side‑by‑side duplex with two 2‑bedroom, 1‑bath units; Each unit includes an attached garage and a walk‑out lower level; Full poured concrete basement with dual entry