Updated Duplex with Detached
For Sale
$259,000
513 Milton Avenue, Janesville, WI 53545
Upper and lower residences feature refreshed interiors, private laundry, fenced outdoor space, and driveway parking.
Property Size2,291 SF
Price / SF$113.05
Days on Market155
Property Features for 513 Milton Avenue
General Information
Standard status
Active
Size
2,291 SF
Property subtype
Multi Family / 2 flat-up and down
Zoning
Res
Taxes and HOA fees
Annual Taxes
$3,299
Amenities
Partial, Other foundation
Natural Gas
Forced air
Personal property
2 stoves, 2 refrigerators, 2 dishwashers, 2 washers, 2 dryers
2
1
Vinyl
Building Details
Year Built
1890
Units
2
Listing Agency:
Briggs Realty Group, Inc
Listed By:
Chris Campbell · License #93500-94
(608) 449-9656
Source:
Compass
Added: Apr 2
Changed: Sep 2
Last Checked: Aug 30 at 11:54PM
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.
This duplex offers 2,291 square feet in an upper-and-lower configuration, with updates completed throughout both residences. Each unit includes in-unit laundry and a separate kitchen equipped with a stove, refrigerator, and dishwasher. Natural gas service and forced-air heating are among the property features, while vinyl siding provides the exterior finish. The building dates to 1890 and is designated Res zoning.
Outdoor improvements include a fenced yard, detached 2-car garage, and driveway parking. The property is located at 513 Milton Avenue in Janesville, Wisconsin, providing two residential units within a single income-property asset.
Outdoor improvements include a fenced yard, detached 2-car garage, and driveway parking. The property is located at 513 Milton Avenue in Janesville, Wisconsin, providing two residential units within a single income-property asset.
Key Highlights
- Two‑unit upper‑and‑lower duplex with 2,291 SF
- Both units feature updates throughout and in‑unit laundry
- Each residence includes 1 stove, 1 refrigerator, and 1 dishwasher
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
$21,135
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
8.16%
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%
$422,700
$422.7K
Cap Rate 7%
$301,929
$301.9K
Cap Rate 9%
$234,833
$234.8K
Market Conditions
NOI Build-Up for 2,291 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
$31.6K $13.80/SF
− Vacancy
−$1.4K −$0.62/SF
EGI
$30.2K $13.18/SF
− OpEx
−$9.1K −$3.95/SF
NOI
$21.1K $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%
$422,700
Cap Rate 7%
$301,929
Cap Rate 9%
$234,833
Alternative Uses
Best Use
Multifamily LT 5
$301.9K
$264.2K – $352.3K
NOI $21,135 @ 7.0% cap · market cap 8.16%
Second Best
Apartment 5plus
$265.4K
$232.3K – $309.7K
NOI $18,580 @ 7.0% cap · market cap 7.17%
Theoretical Best
Office A
$550.5K
$481.7K – $642.3K
NOI $38,538 @ 7.0% cap · market cap 14.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
785
Businesses Nearby
Explore this area
Business Placement
Demographics for 53545, WI
23,318
Population
11,170
Households
2.1
Avg Household Size
41
Median Age
29%
College-Educated
94%
High-School Grad
22.5 sq mi
ZIP Area
1,036
Density / Sq Mi
$70,730
Median Household Income
$42,567
Median Earnings
$1,006
Median Rent
$204,000
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 - Upper and lower residences feature refreshed interiors, private laundry, fenced outdoor space, and driveway parking.
Where is this duplex located?
The property is located at 513 Milton Avenue 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: Two‑unit upper‑and‑lower duplex with 2,291 SF; Both units feature updates throughout and in‑unit laundry; Each residence includes 1 stove, 1 refrigerator, and 1 dishwasher
