Updated Brick 4-Unit
For Sale
$1,168,000
426 Rushmore Lane, Madison, WI 53711
Updated brick 4-unit with vinyl double-pane windows, renovated kitchens and tile baths, plus decks or patios.
Property Size4,800 SF
Price / SF$243.33
Days on Market285
Property Features for 426 Rushmore Lane
General Information
Standard status
Active
Size
4,800 SF
Total Parking Spaces
8
Property subtype
Multi Family / Apartment building
Zoning
res
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$10,362
Amenities
deck/patios
private storage spaces
common space
washer & dryer
water softener
Full, Poured concrete foundatn
Natural Gas
Forced air
Tenant's personal items
4 refrigerators, 4 ranges, 4 dishwashers, 4 disposals, coin-op washer, coin-op dryer, water softener, all window blinds, garage door openers and remotes
1
4
Brick
Building Details
Year Built
1959
Units
4
Construction
brick
Tenancy
Multi
Listing Agency:
EXP Realty, LLC
(608) 663-8323
Listed By:
Doug Noot · License #52645-90
(608) 663-8323
Source:
Compass
Added: Nov 11, 2025
Changed: Aug 8
Last Checked: Jul 21 at 2:59PM
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 EXP Realty, LLC
Investment Insights
Based on property information with market context.
This updated brick four-unit residential property is positioned in very good condition, with a mix of original character and numerous renovations throughout. Units feature renovated eat-in kitchens with full-length glass or tile backsplashes, high-grade wood cabinetry, and dishwashers, along with classic tile bathrooms around tub areas and tile on the floor and behind sinks and toilets. The property also includes wood floors in living and bedroom areas, vinyl double-pane windows, and decks or patios off the back.
The building offers outdoor space and off-street convenience, including additional concrete parking stalls for each unit and yard area for use. There are private storage spaces in the basement alongside substantial common space, and separate newer mechanicals including a water softener plus in-unit washer and dryer.
An on-site four-car garage with extra storage space supports the property’s parking and storage needs.
The building offers outdoor space and off-street convenience, including additional concrete parking stalls for each unit and yard area for use. There are private storage spaces in the basement alongside substantial common space, and separate newer mechanicals including a water softener plus in-unit washer and dryer.
An on-site four-car garage with extra storage space supports the property’s parking and storage needs.
Key Highlights
- Updated 4‑unit brick building built in 1959
- Vinyl double‑pane windows throughout
- Renovated eat‑in kitchens with high grade wood cabinetry and dishwashers (4 per unit)
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
$58,878
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
5.04%
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%
$1,177,560
$1.2M
Cap Rate 7%
$841,114
$841.1K
Cap Rate 9%
$654,200
$654.2K
Market Conditions
NOI Build-Up for 4,800 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
$111.7K $23.28/SF
− Vacancy
−$4.7K −$0.98/SF
EGI
$107.1K $22.30/SF
− OpEx
−$48.2K −$10.04/SF
NOI
$58.9K $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 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%
$1,177,560
Cap Rate 7%
$841,114
Cap Rate 9%
$654,200
Alternative Uses
Best Use
Apartment 5plus
$841.1K
$736.0K – $981.3K
NOI $58,878 @ 7.0% cap · market cap 5.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.40M
$1.23M – $1.64M
NOI $98,150 @ 7.0% cap · market cap 8.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
688
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?
Multifamily property - Updated brick 4-unit with vinyl double-pane windows, renovated kitchens and tile baths, plus decks or patios.
Where is this multifamily property located?
The property is located at 426 Rushmore Lane Madison, WI.
What is the asking price?
The asking price for this property is $1,168,000.
What are key features of this property?
This property features: Updated 4‑unit brick building built in 1959; Vinyl double‑pane windows throughout; Renovated eat‑in kitchens with high grade wood cabinetry and dishwashers (4 per unit)
