All-Brick Four-Unit
For Sale
$584,000
430 North Oak Street, Madison, WI 53704
All-brick four-unit quadplex with recent building improvements, including a 2024 roof and 2023–2024 HVAC and upgrades.
Property Size2,800 SF
Price / SF$208.57
Days on Market88
Property Features for 430 North Oak Street
General Information
Standard status
Active
Size
2,800 SF
Property subtype
Multi Family / Apartment building
Zoning
TR-C4
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$8,653
Amenities
Full
Natural Gas
Forced air
Tenant's personal property
4 refrigerators, 4 oven/stoves, 1 washer, 1 dryer, 2 furnaces, 2 A/C's, 1 water heater, 1 water softener
1
4
2
Brick
Building Details
Year Built
1953
Units
4
Listing Agency:
The Hub Realty
Listed By:
Ryan Schmitz · License #59756-90
(608) 345-0150
Source:
Compass
Added: Jun 11
Changed: Aug 8
Last Checked: Jul 23 at 7:46AM
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 The Hub Realty
Investment Insights
Based on property information with market context.
This all-brick four-unit quadplex features four units with the same floor plan and basic finish level. The property has been well cared for and includes multiple recent improvements across the building, including a new roof in 2024, new HVAC for units 1 and 3 in 2024, whole-building weatherization completed in 2023, and new energy-efficient refrigerators installed in 2023. Additional updates include new bathroom exhaust fans in 2023 and a new front wooden porch in 2023, along with a new Speed Queen coin-op dryer in 2024.
The property currently benefits from long-term tenants, with rents reported between $1,100 and $1,330. Unit 3 is scheduled to move out on 5/31/26 and will be available for owner occupancy or for a new tenant at market rent. The most recently reported rent for Unit 3 was $1,150 per month.
Unit configurations are consistent across the four units, supporting straightforward management and leasing. Recent capital improvements may help reduce near-term maintenance items for a new owner.
The property currently benefits from long-term tenants, with rents reported between $1,100 and $1,330. Unit 3 is scheduled to move out on 5/31/26 and will be available for owner occupancy or for a new tenant at market rent. The most recently reported rent for Unit 3 was $1,150 per month.
Unit configurations are consistent across the four units, supporting straightforward management and leasing. Recent capital improvements may help reduce near-term maintenance items for a new owner.
Key Highlights
- All‑brick 4‑unit quadplex built in 1953
- Current rents range from $1,100 to $1,330 per month
- New roof in 2024; whole‑building weatherization completed in 2023
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
$37,062
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
6.35%
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%
$741,240
$741.2K
Cap Rate 7%
$529,457
$529.5K
Cap Rate 9%
$411,800
$411.8K
Market Conditions
NOI Build-Up for 2,800 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
$55.4K $19.80/SF
− Vacancy
−$2.5K −$0.89/SF
EGI
$52.9K $18.91/SF
− OpEx
−$15.9K −$5.67/SF
NOI
$37.1K $13.24/SF
Area
Madison, WI
Vacancy
4.50%
Lease Rate
$19.80 /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%
$741,240
Cap Rate 7%
$529,457
Cap Rate 9%
$411,800
Alternative Uses
Best Use
Multifamily LT 5
$529.5K
$463.3K – $617.7K
NOI $37,062 @ 7.0% cap · market cap 6.35%
Second Best
Apartment 5plus
$490.6K
$429.3K – $572.4K
NOI $34,345 @ 7.0% cap · market cap 5.88%
Theoretical Best
Office A
$817.9K
$715.7K – $954.2K
NOI $57,254 @ 7.0% cap · market cap 9.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
744
Businesses Nearby
Explore this area
Business Placement
Demographics for 53704, WI
47,066
Population
22,740
Households
2.1
Avg Household Size
38
Median Age
49%
College-Educated
96%
High-School Grad
21.9 sq mi
ZIP Area
2,149
Density / Sq Mi
$75,007
Median Household Income
$47,665
Median Earnings
$1,231
Median Rent
$289,000
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?
Quadplex - All-brick four-unit quadplex with recent building improvements, including a 2024 roof and 2023–2024 HVAC and upgrades.
Where is this quadplex located?
The property is located at 430 North Oak Street Madison, WI.
What is the asking price?
The asking price for this property is $584,000.
What are key features of this property?
This property features: All‑brick 4‑unit quadplex built in 1953; Current rents range from $1,100 to $1,330 per month; New roof in 2024; whole‑building weatherization completed in 2023
