Updated Residential Income
For Sale
$529,000
4884 Monarch Drive, Milton, WI 53563
Three-bedroom condominium with open living areas, a finished lower level, screened porch, and wooded outdoor setting.
Property Size2,670 SF
Price / SF$198.13
Days on Market157
Property Features for 4884 Monarch Drive
General Information
Standard status
Active
Size
2,670 SF
Property subtype
Condo / Ranch-1 Story
Zoning
res
Units
Unit Mix
1 x 3BR/2.5BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$7,054
Amenities
Seller's Personal Property, Ring Cameras, large mirror in living room, basement fridge, washer and dryer.
Fridge, stove/oven, microwave, dishwasher, water softener and Electric Blinds.
Forced air, Central air
Vaulted ceiling, Skylight(s), Water softener included, Central vac, Internet -Fiber Available
Vinyl
Wooded lot
Building Details
Year Built
2002
Listing Agency:
Wisconsin Realty Group L.L.C.
(608) 436-1974
Listed By:
Todd Bailey · License #60600-90
(608) 436-1974
Source:
Compass
Added: Mar 27
Changed: Aug 29
Last Checked: Aug 29 at 6:08PM
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 Wisconsin Realty Group L.L.C.
Investment Insights
Based on property information with market context.
This 2,670-square-foot residential income property is an updated three-bedroom, 2.5-bath condominium built in 2002. The main level features an open layout with 11-foot tray ceilings, hardwood flooring, a gas fireplace, and a screened porch. Quartz counters and stainless steel appliances anchor the kitchen, while the dining area includes a skylight and motorized blinds. Main-floor laundry adds convenience, and the finished lower level provides additional space with fresh carpeting, a walkout, and access to upper and lower patios.
The property is located near Janesville and Milton at 4884 Monarch Drive in Milton, Wisconsin. Its wooded lot includes a backyard with views, and the residence offers central air, forced-air heating, fiber internet availability, a central vacuum, and a water softener. Included features and appliances include the refrigerator, stove/oven, microwave, dishwasher, electric blinds, washer, and dryer.
The property is located near Janesville and Milton at 4884 Monarch Drive in Milton, Wisconsin. Its wooded lot includes a backyard with views, and the residence offers central air, forced-air heating, fiber internet availability, a central vacuum, and a water softener. Included features and appliances include the refrigerator, stove/oven, microwave, dishwasher, electric blinds, washer, and dryer.
Key Highlights
- 2,670‑square‑foot condominium with three bedrooms and 2.5 bathrooms
- 11‑foot tray ceilings, hardwood floors, gas fireplace, and screened porch
- Kitchen with quartz countertops and stainless steel appliances
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
$21,654
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
4.09%
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%
$433,080
$433.1K
Cap Rate 7%
$309,343
$309.3K
Cap Rate 9%
$240,600
$240.6K
Market Conditions
NOI Build-Up for 2,670 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
$41.0K $15.36/SF
− Vacancy
−$1.6K −$0.61/SF
EGI
$39.4K $14.75/SF
− OpEx
−$17.7K −$6.64/SF
NOI
$21.7K $8.11/SF
Area
Rock County, WI
Vacancy
4.00%
Lease Rate
$15.36 /SF/Yr
Expense Ratio
45.00%
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%
$433,080
Cap Rate 7%
$309,343
Cap Rate 9%
$240,600
Alternative Uses
Best Use
Apartment 5plus
$309.3K
$270.7K – $360.9K
NOI $21,654 @ 7.0% cap · market cap 4.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$641.6K
$561.4K – $748.6K
NOI $44,914 @ 7.0% cap · market cap 8.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
177
Businesses Nearby
Explore this area
Business Placement
Demographics for 53563, WI
11,503
Population
4,672
Households
2.5
Avg Household Size
42
Median Age
31%
College-Educated
96%
High-School Grad
67.0 sq mi
ZIP Area
172
Density / Sq Mi
$89,397
Median Household Income
$47,742
Median Earnings
$972
Median Rent
$270,800
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Three-bedroom condominium with open living areas, a finished lower level, screened porch, and wooded outdoor setting.
Where is this residential income property located?
The property is located at 4884 Monarch Drive Milton, WI.
What is the asking price?
The asking price for this property is $529,000.
What are key features of this property?
This property features: 2,670‑square‑foot condominium with three bedrooms and 2.5 bathrooms; 11‑foot tray ceilings, hardwood floors, gas fireplace, and screened porch; Kitchen with quartz countertops and stainless steel appliances
