Updated Two-Unit
For Sale
$589,000
Pending
4292 Vilas Hope Road, Cottage Grove, WI 53527
Well-maintained duplex with multiple recent improvements, including a new roof, A/C, furnaces, windows, and unit 1 upgrades.
Property Size3,626 SF
Lot Size0.56 Acres
Days on Market286
Property Features for 4292 Vilas Hope Road
General Information
Standard status
Pending
Size
3,626 SF
Lot size
0.56 Acres
Property subtype
Multi Family / Duplex-side by side
Zoning
TFR-08
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,148
Amenities
Full size windows/Exposed, Walkout to yard, Finished
Natural Gas
Forced air
Seller and Tenant's Personal Property.
Refrigerator(2), Stove/Oven(2), Dishwasher(2), Water Softener(2), Water Heater(2)
2
Vinyl
Building Details
Year Built
1993
Units
2
Listing Agency:
First Weber Inc
Listed By:
Kim Straka · License #93090-94
(608) 772-7207
Source:
Compass
Added: Nov 23, 2025
Changed: Aug 25
Last Checked: Jul 24 at 5:51PM
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 First Weber Inc
Investment Insights
Based on property information with market context.
This well-cared-for two-unit duplex offers an income-focused layout with updates throughout. Improvements cited in the remarks include a new roof, a new A/C for unit 1 (2024), a new furnace for unit 2 (2024), new windows for unit 1 (2022), fresh paint for unit 1, and modern LVT flooring in unit 1 (2022). Each unit features an open floor plan, spacious primary bedrooms, abundant natural light, and plenty of storage.
The property is located close to Door Creek Golf Course and Warm Belly Farms, with a total site of approximately 0.56 acres as noted in the remarks. Each unit includes a 2-car attached garage.
Both units are described as having spacious 3-bedroom, 2-bath layouts, providing flexibility for either living in one unit while renting the other or renting both units.
The property is located close to Door Creek Golf Course and Warm Belly Farms, with a total site of approximately 0.56 acres as noted in the remarks. Each unit includes a 2-car attached garage.
Both units are described as having spacious 3-bedroom, 2-bath layouts, providing flexibility for either living in one unit while renting the other or renting both units.
Key Highlights
- Well‑maintained 2‑unit duplex built in 1993 on 0.56 acres
- Recent updates include new roof, new A/C (unit 1, 2024), and new furnace (unit 2, 2024)
- Unit 1 improvements: new windows (2022), fresh paint, and modern LVT flooring (2022)
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
$33,276
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
5.65%
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%
$665,520
$665.5K
Cap Rate 7%
$475,371
$475.4K
Cap Rate 9%
$369,733
$369.7K
Market Conditions
NOI Build-Up for 3,626 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
$50.0K $13.80/SF
− Vacancy
−$2.5K −$0.69/SF
EGI
$47.5K $13.11/SF
− OpEx
−$14.3K −$3.93/SF
NOI
$33.3K $9.18/SF
Area
Dane County, WI
Vacancy
5.00%
Lease Rate
$13.80 /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%
$665,520
Cap Rate 7%
$475,371
Cap Rate 9%
$369,733
Alternative Uses
Best Use
Multifamily LT 5
$475.4K
$416.0K – $554.6K
NOI $33,276 @ 7.0% cap · market cap 5.65%
Second Best
Apartment 5plus
$417.9K
$365.7K – $487.6K
NOI $29,254 @ 7.0% cap · market cap 4.97%
Theoretical Best
Office A
$842.6K
$737.3K – $983.0K
NOI $58,982 @ 7.0% cap · market cap 10.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
16
Businesses Nearby
Explore this area
Business Placement
Demographics for 53527, WI
10,994
Population
4,732
Households
2.3
Avg Household Size
40
Median Age
48%
College-Educated
99%
High-School Grad
35.8 sq mi
ZIP Area
307
Density / Sq Mi
$119,808
Median Household Income
$60,027
Median Earnings
$1,531
Median Rent
$402,500
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 - Well-maintained duplex with multiple recent improvements, including a new roof, A/C, furnaces, windows, and unit 1 upgrades.
Where is this duplex located?
The property is located at 4292 Vilas Hope Road Cottage Grove, WI.
What is the asking price?
The asking price for this property is $589,000.
What are key features of this property?
This property features: Well‑maintained 2‑unit duplex built in 1993 on 0.56 acres; Recent updates include new roof, new A/C (unit 1, 2024), and new furnace (unit 2, 2024); Unit 1 improvements: new windows (2022), fresh paint, and modern LVT flooring (2022)
