Main-Level Condo with Heated
For Sale
$299,900
5301 Brody Drive Unit 104, Madison, WI 53705
Main-level condo includes updated flooring, in-unit washer and dryer, privacy in the backyard, and a heated garage.
Property Size1,126 SF
Price / SF$266.34
Days on Market109
Property Features for 5301 Brody Drive Unit 104
General Information
Standard status
Active
Size
1,126 SF
Property subtype
Condo / Ranch-1 Story
Zoning
WP-14, SR-
Taxes and HOA fees
Annual Taxes
$4,549
Amenities
Refrigerator, Range/Oven, Microwave, Washer, Dryer
Forced air
Walk-in closet(s), Cable/Satellite Available, Storage Unit Inc, At Least 1 tub, Internet - Cable, Internet - DSL, All Window Coverings
Vinyl
Deck/Balcony
Building Details
Year Built
2007
Listing Agency:
Lannon Stone Realty LLC
Listed By:
Zouhair Zahid · License #57046-94
(608) 279-6399
Source:
Compass
Added: May 19
Changed: Aug 8
Last Checked: Jul 20 at 8:04PM
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 Lannon Stone Realty LLC
Investment Insights
Based on property information with market context.
This main-level condo offers an easy, walk-in feel with updated floors throughout, in-unit washer and dryer that were changed in 2024/2025, and added convenience features including plenty of storage. The backyard provides privacy, and the home includes a heated garage.
The property is professionally well-managed and includes shared community amenities such as a pool and playground. Showings start May 21.
The residence is located minutes from the Hilldale shopping area, Whole Foods, Target, and UW Hospital & Campus, and it is also minutes from Lake Mendota.
The property is professionally well-managed and includes shared community amenities such as a pool and playground. Showings start May 21.
The residence is located minutes from the Hilldale shopping area, Whole Foods, Target, and UW Hospital & Campus, and it is also minutes from Lake Mendota.
Key Highlights
- Main‑level 2‑bedroom condo with updated flooring
- In‑unit washer and dryer, changed in 2024/2025
- Heated garage plus extra storage unit included
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
$13,812
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
4.61%
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%
$276,240
$276.2K
Cap Rate 7%
$197,314
$197.3K
Cap Rate 9%
$153,467
$153.5K
Market Conditions
NOI Build-Up for 1,126 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
$26.2K $23.28/SF
− Vacancy
−$1.1K −$0.98/SF
EGI
$25.1K $22.30/SF
− OpEx
−$11.3K −$10.04/SF
NOI
$13.8K $12.27/SF
Area
Madison, WI
Vacancy
4.20%
Lease Rate
$23.28 /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%
$276,240
Cap Rate 7%
$197,314
Cap Rate 9%
$153,467
Alternative Uses
Best Use
Apartment 5plus
$197.3K
$172.7K – $230.2K
NOI $13,812 @ 7.0% cap · market cap 4.61%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$328.9K
$287.8K – $383.7K
NOI $23,024 @ 7.0% cap · market cap 7.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
406
Businesses Nearby
Explore this area
Business Placement
Demographics for 53705, WI
24,695
Population
12,796
Households
1.9
Avg Household Size
36
Median Age
75%
College-Educated
97%
High-School Grad
6.3 sq mi
ZIP Area
3,920
Density / Sq Mi
$82,315
Median Household Income
$49,173
Median Earnings
$1,322
Median Rent
$446,500
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Main-level condo includes updated flooring, in-unit washer and dryer, privacy in the backyard, and a heated garage.
Where is this residential income property located?
The property is located at 5301 Brody Drive Unit 104 Madison, WI.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Main‑level 2‑bedroom condo with updated flooring; In‑unit washer and dryer, changed in 2024/2025; Heated garage plus extra storage unit included
