Five-Unit Rental
450-452 West Doty Street Madison, WI 53703
450-452 West Doty Street, Madison, WI, 53703
$1,025,000
For Sale
$1,025,000
Five-unit rental property with four one-bedroom apartments and a three-bedroom flat, including leased parking and basement laundry.
Property Size2,392 SF
Price / SF$428.51
Days on Market185
Property Features for 450-452 West Doty Street
General Information
- Standard status
- Active
- Size
- 2,392 SF
- Property subtype
- Multi Family / 3 story
Building Details
- Year Built
- 1899
Listing agency
Madcityhomes.Com
(608) 556-0033
Listed by
Caleb Payne · License #93139-94
(608) 556-0033
Source
Compass
Added: Jan 18 Updated: Jul 22 at 7:00AM Checked: Jul 22 at 7:00AM
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 Madcityhomes.Com
Investment Insights
Based on property information with market context.
This five-unit rental house offers four one-bedroom apartments plus a three-bedroom flat. Two of the units have been recently fully renovated with new kitchens, baths, and flooring. Updates include a new roof in 2015, along with a recent boiler and vinyl siding. Tenants pay their own utilities based on allocation methods described by the landlord billing process, and one driveway parking spot is leased.
On-site laundry is available in the basement with laundry machines leased under a multi-year contract. The water/sewer and gas & electric are billed to the landlord and then allocated to tenants.
Current unit rents are provided for Unit #5 and Unit #3, with scheduled increases noted for the fall. Additional unit-by-unit details are reflected in the provided income and allocation information.
On-site laundry is available in the basement with laundry machines leased under a multi-year contract. The water/sewer and gas & electric are billed to the landlord and then allocated to tenants.
Current unit rents are provided for Unit #5 and Unit #3, with scheduled increases noted for the fall. Additional unit-by-unit details are reflected in the provided income and allocation information.
Key Highlights
- Five‑unit rental house with four 1‑bedroom units plus a 3‑bedroom flat
- Renovations include 2 fully renovated units with new kitchens, baths, and flooring
- New roof (2015), recent boiler, and vinyl siding
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $55.7k | $23.28 |
| − Vacancy | −$2.3k | −$0.98 |
| EGI | $53.3k | $22.30 |
| − OpEx | −$24.0k | −$10.04 |
| NOI | $29.3k | $12.27 |
2,392 SF · lease $23.28/SF/yr · vacancy 4.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$419.2K
$366.8K – $489.0K
NOI $29,341 @ 7.0% cap · market cap 2.86%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$698.7K
$611.4K – $815.2K
NOI $48,912 @ 7.0% cap · market cap 4.77%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Five-unit rental property with four one-bedroom apartments and a three-bedroom flat, including leased parking and basement laundry.
Where is this apartment building located?
The property is located at 450-452 West Doty Street Madison, WI.
What is the asking price?
The asking price for this property is $1,025,000.
What are key features of this property?
This property features: Five‑unit rental house with four 1‑bedroom units plus a 3‑bedroom flat; Renovations include 2 fully renovated units with new kitchens, baths, and flooring; New roof (2015), recent boiler, and vinyl siding
