Residential Income Property with Private
For Sale
$290,000
4230 Greenbriar Drive Unit 5, Janesville, WI 53546
Well-maintained condo with updated mechanical systems, bright interiors, private outdoor areas, and convenient access to schools, parks, shopping, and trails.
Property Size1,333 SF
Price / SF$217.55
Days on Market237
Property Features for 4230 Greenbriar Drive Unit 5
General Information
Standard status
Active
Size
1,333 SF
Property subtype
Condo / Ranch-1 Story
Zoning
R-1
Taxes and HOA fees
Annual Taxes
$3,866
Amenities
Stove, refrigerator, microwave, water softener and dishwasher.
Forced air, Central air
Wood or sim. wood floors, Walk-in closet(s), Great room, Vaulted ceiling, Skylight(s), Washer, Dryer, Water softener included, Split bedrooms, Internet - Cable, Smart thermostat
Vinyl
Private Entry
Building Details
Year Built
2001
Listing Agency:
Shorewest, REALTORS
(608) 290-2935
Listed By:
Barb Palmby · License #54238-90
(608) 290-2935
Source:
Compass
Added: Jan 5
Changed: Aug 30
Last Checked: Aug 30 at 1:58AM
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 Wellnitz-built condominium, completed in 2001, combines a bright interior with practical residential features. The layout includes two bedrooms, split-bedroom placement, a great room, vaulted ceilings, a skylight, wood or similar wood flooring, and a primary suite walk-in closet. Large windows bring natural light throughout the home. The kitchen includes a stove, refrigerator, microwave, dishwasher, and water softener, while a washer and dryer are also included. Forced-air heat and central air were updated in December 2023, and the home has a smart thermostat, cable internet, and a private entry.
Outdoor space includes a front porch and a concrete patio enclosed by privacy fencing. The condominium is located at 4230 Greenbriar Drive, Unit 5, in Janesville, near a bike path, schools, parks, and shopping. Harmony Elementary School is also a short distance away. The property carries R-1 zoning.
Outdoor space includes a front porch and a concrete patio enclosed by privacy fencing. The condominium is located at 4230 Greenbriar Drive, Unit 5, in Janesville, near a bike path, schools, parks, and shopping. Harmony Elementary School is also a short distance away. The property carries R-1 zoning.
Key Highlights
- Two‑bedroom Wellnitz‑built condominium completed in 2001
- Forced‑air heat and central air updated in December 2023
- Private entry, front porch, and privacy‑fenced concrete patio
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
$10,811
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
3.73%
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%
$216,220
$216.2K
Cap Rate 7%
$154,443
$154.4K
Cap Rate 9%
$120,122
$120.1K
Market Conditions
NOI Build-Up for 1,333 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
$20.5K $15.36/SF
− Vacancy
−$819 −$0.61/SF
EGI
$19.7K $14.75/SF
− OpEx
−$8.8K −$6.64/SF
NOI
$10.8K $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%
$216,220
Cap Rate 7%
$154,443
Cap Rate 9%
$120,122
Alternative Uses
Best Use
Apartment 5plus
$154.4K
$135.1K – $180.2K
NOI $10,811 @ 7.0% cap · market cap 3.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$320.3K
$280.3K – $373.7K
NOI $22,423 @ 7.0% cap · market cap 7.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
34
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 - Well-maintained condo with updated mechanical systems, bright interiors, private outdoor areas, and convenient access to schools, parks, shopping, and trails.
Where is this residential income property located?
The property is located at 4230 Greenbriar Drive Unit 5 Janesville, WI.
What is the asking price?
The asking price for this property is $290,000.
What are key features of this property?
This property features: Two‑bedroom Wellnitz‑built condominium completed in 2001; Forced‑air heat and central air updated in December 2023; Private entry, front porch, and privacy‑fenced concrete patio
