Well-Kept Three-Unit Residential
For Sale
$259,000
513 Center Janesville Wi 53548, Janesville, WI 53548
Three fully rented units with shared basement laundry and a detached two-car garage.
Property Size2,234 SF
Price / SF$115.94
Days on Market141
Property Features for 513 Center Janesville Wi 53548
General Information
Standard status
Active
Size
2,234 SF
Total Parking Spaces
2
Property subtype
Multi Family / 2 story
Zoning
R
Occupancy
100%
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$3,480
Amenities
shared laundry
Full, Other foundation
Natural Gas
Radiant
Personal property
1 washer, 1 dryer, 3 refrigerators, 3 stoves, 1 upright freezer in basement
1
3
Vinyl, Wood
Building Details
Year Built
1860
Units
3
Tenancy
Multi
Listing Agency:
Briggs Realty Group, Inc
(608) 449-9656
Listed By:
Chris Campbell · License #93500-94
(608) 449-9656
Source:
Compass
Added: Mar 24
Changed: Aug 8
Last Checked: Jul 23 at 4:45AM
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 Briggs Realty Group, Inc
Investment Insights
Based on property information with market context.
Well-kept three-unit residential property that is fully rented. The basement includes shared laundry facilities. Unit A and Unit C are accessed from the front, with Unit A located upstairs and Unit C on the main floor. Unit B enters through the back and is on the main floor.
The property is described as having a central location. A detached two-car garage is included.
The building’s layout supports separate unit access with front entries for Units A and C and a back entry for Unit B, with shared laundry in the basement.
The property is described as having a central location. A detached two-car garage is included.
The building’s layout supports separate unit access with front entries for Units A and C and a back entry for Unit B, with shared laundry in the basement.
Key Highlights
- Well‑kept 3‑unit property that is fully rented
- Shared basement laundry available for residents
- Detached 2‑car garage
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
$20,609
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
7.96%
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%
$412,180
$412.2K
Cap Rate 7%
$294,414
$294.4K
Cap Rate 9%
$228,989
$229.0K
Market Conditions
NOI Build-Up for 2,234 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
$30.8K $13.80/SF
− Vacancy
−$1.4K −$0.62/SF
EGI
$29.4K $13.18/SF
− OpEx
−$8.8K −$3.95/SF
NOI
$20.6K $9.23/SF
Area
Rock County, WI
Vacancy
4.50%
Lease Rate
$13.80 /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%
$412,180
Cap Rate 7%
$294,414
Cap Rate 9%
$228,989
Alternative Uses
Best Use
Multifamily LT 5
$294.4K
$257.6K – $343.5K
NOI $20,609 @ 7.0% cap · market cap 7.96%
Second Best
Apartment 5plus
$258.8K
$226.5K – $302.0K
NOI $18,118 @ 7.0% cap · market cap 7.00%
Theoretical Best
Office A
$536.8K
$469.7K – $626.3K
NOI $37,579 @ 7.0% cap · market cap 14.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
668
Businesses Nearby
Explore this area
Business Placement
Demographics for 53548, WI
19,233
Population
8,894
Households
2.2
Avg Household Size
40
Median Age
27%
College-Educated
94%
High-School Grad
75.0 sq mi
ZIP Area
256
Density / Sq Mi
$74,696
Median Household Income
$41,508
Median Earnings
$999
Median Rent
$226,600
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?
Triplex - Three fully rented units with shared basement laundry and a detached two-car garage.
Where is this triplex located?
The property is located at 513 Center Janesville Wi 53548 Janesville, WI.
What is the asking price?
The asking price for this property is $259,000.
What are key features of this property?
This property features: Well‑kept 3‑unit property that is fully rented; Shared basement laundry available for residents; Detached 2‑car garage
