Two-Unit Duplex with
New
For Sale
$379,900
4681 N 125th St, Butler, WI 53007
Updated lower residence, separate upper unit, outdoor patio, and convenient access to Hwy 45 support flexible occupancy options.
Property Size1,825 SF
Price / SF$208.16
Days on Market6
Property Features for 4681 N 125th St
General Information
Standard status
Active
Size
1,825 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR/1.5BA, 1 x 2BR/1BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Amenities
paver patio
Building Details
Year Built
1966
Buildings
1
Listing Agency:
La Crosse By Owner, LLC
Listed By:
Avenue Real Estate
(920) 893-3001
Source:
Avenueret
Added: Sep 9
Changed: Sep 13
Last Checked: Sep 13 at 8:03AM
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 La Crosse By Owner, LLC
Investment Insights
Based on property information with market context.
Built in 1966, this two-unit duplex offers a three-bedroom, one-and-a-half-bath lower residence and a separate two-bedroom, one-bath upper residence. The lower unit has an updated kitchen and bathroom, new carpet, and plentiful natural light. The upper unit provides additional household space or rental use within the same property.
A two-car garage includes a dividing wall, while additional parking and a paver patio add practical amenities. The property is in Butler, within the Sussex Hamilton School District and near Hwy 45. The convenience store, farmers market, and library are all within walking distance, adding everyday convenience to the residential setting.
A two-car garage includes a dividing wall, while additional parking and a paver patio add practical amenities. The property is in Butler, within the Sussex Hamilton School District and near Hwy 45. The convenience store, farmers market, and library are all within walking distance, adding everyday convenience to the residential setting.
Key Highlights
- Two‑unit duplex with 3‑bedroom lower unit and 2‑bedroom upper unit
- Lower unit includes a newly remodeled kitchen and bath plus new carpet
- Upper unit offers 2 bedrooms and 1 bath
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
$20,935
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
5.51%
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%
$418,700
$418.7K
Cap Rate 7%
$299,071
$299.1K
Cap Rate 9%
$232,611
$232.6K
Market Conditions
NOI Build-Up for 1,825 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
$31.3K $17.16/SF
− Vacancy
−$1.4K −$0.77/SF
EGI
$29.9K $16.39/SF
− OpEx
−$9.0K −$4.92/SF
NOI
$20.9K $11.47/SF
Area
Waukesha County, WI
Vacancy
4.50%
Lease Rate
$17.16 /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%
$418,700
Cap Rate 7%
$299,071
Cap Rate 9%
$232,611
Alternative Uses
Best Use
Multifamily LT 5
$299.1K
$261.7K – $348.9K
NOI $20,935 @ 7.0% cap · market cap 5.51%
Second Best
Apartment 5plus
$276.9K
$242.3K – $323.1K
NOI $19,386 @ 7.0% cap · market cap 5.10%
Theoretical Best
Flex RnD
$931.4K
$815.0K – $1.09M
NOI $65,200 @ 7.0% cap · market cap 17.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
553
Businesses Nearby
Explore this area
Business Placement
Demographics for 53007, WI
1,787
Population
907
Households
2
Avg Household Size
42
Median Age
30%
College-Educated
93%
High-School Grad
0.8 sq mi
ZIP Area
2,234
Density / Sq Mi
$55,577
Median Household Income
$41,250
Median Earnings
$937
Median Rent
$216,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Updated lower residence, separate upper unit, outdoor patio, and convenient access to Hwy 45 support flexible occupancy options.
Where is this duplex located?
The property is located at 4681 N 125th St Butler, WI.
What is the asking price?
The asking price for this property is $379,900.
What are key features of this property?
This property features: Two‑unit duplex with 3‑bedroom lower unit and 2‑bedroom upper unit; Lower unit includes a newly remodeled kitchen and bath plus new carpet; Upper unit offers 2 bedrooms and 1 bath
