Two-Unit Duplex with
For Sale
$250,000
433 North High Street, Fort Atkinson, WI 53538
Corner-lot duplex with shared laundry, basement storage, and a detached garage.
Property Size1,748 SF
Price / SF$143.02
Days on Market144
Property Features for 433 North High Street
General Information
Standard status
Active
Size
1,748 SF
Total Parking Spaces
1
Property subtype
Multi Family / 2 story
Property Condition
Severity
Repairs Needed
Evidence
some TLC
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,333
Amenities
shared laundry
storage
Full, Laundry facilities, Stone, Unfinished
Natural Gas
Forced air
Tenant's personal property
(2) stoves, (2) refrigerators, washer, dryer
1
2
Vinyl
Building Details
Year Built
1900
Units
2
Listing Agency:
Fort Real Estate Company, LLC
(608) 575-3533
Listed By:
Kim Foelker · License #50621-90
(608) 575-3533
Source:
Compass
Added: Apr 8
Changed: Aug 29
Last Checked: Aug 29 at 1:02PM
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 Fort Real Estate Company, LLC
Investment Insights
Based on property information with market context.
This 1,748-square-foot duplex contains two separate one-bedroom, one-bath apartments with functional layouts. The basement provides shared laundry facilities and additional storage, while a detached one-car garage offers further storage capacity. The property was built in 1900 and has vinyl siding, natural gas service, and forced-air heating. Appliances include two stoves, two refrigerators, a washer, and a dryer. Located on a corner lot at 433 North High Street in Fort Atkinson, the property offers a two-unit residential configuration with dedicated supplemental storage and garage space.
Key Highlights
- Two 1 bedroom, 1 bath apartments
- 1,748 SF duplex built in 1900
- Shared basement laundry with additional storage
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
$18,534
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
7.41%
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%
$370,680
$370.7K
Cap Rate 7%
$264,771
$264.8K
Cap Rate 9%
$205,933
$205.9K
Market Conditions
NOI Build-Up for 1,748 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
$28.3K $16.20/SF
− Vacancy
−$1.8K −$1.05/SF
EGI
$26.5K $15.15/SF
− OpEx
−$7.9K −$4.54/SF
NOI
$18.5K $10.60/SF
Area
Jefferson County, WI
Vacancy
6.50%
Lease Rate
$16.20 /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%
$370,680
Cap Rate 7%
$264,771
Cap Rate 9%
$205,933
Alternative Uses
Best Use
Multifamily LT 5
$264.8K
$231.7K – $308.9K
NOI $18,534 @ 7.0% cap · market cap 7.41%
Second Best
Apartment 5plus
$234.4K
$205.1K – $273.4K
NOI $16,405 @ 7.0% cap · market cap 6.56%
Theoretical Best
Office A
$410.3K
$359.0K – $478.7K
NOI $28,720 @ 7.0% cap · market cap 11.49%
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
712
Businesses Nearby
Explore this area
Business Placement
Demographics for 53538, WI
18,643
Population
8,444
Households
2.2
Avg Household Size
43
Median Age
26%
College-Educated
92%
High-School Grad
97.1 sq mi
ZIP Area
192
Density / Sq Mi
$80,784
Median Household Income
$44,995
Median Earnings
$967
Median Rent
$228,200
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 - Corner-lot duplex with shared laundry, basement storage, and a detached garage.
Where is this duplex located?
The property is located at 433 North High Street Fort Atkinson, WI.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Two 1 bedroom, 1 bath apartments; 1,748 SF duplex built in 1900; Shared basement laundry with additional storage
