End-Unit Residential Income
For Sale
$225,000
535 East Slifer Street, Portage, WI 53901
Ranch-style condo in a 55-and-over community with main-floor living and an attached two-car garage.
Property Size1,142 SF
Price / SF$197.02
Days on Market290
Property Features for 535 East Slifer Street
General Information
Standard status
Active
Size
1,142 SF
Total Parking Spaces
2
Property subtype
Condo / Ranch-1 Story
Zoning
Res
Units
Unit Mix
1 x 3BR/1BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$4,434
Amenities
Seller's personal property
range/oven, refrigerator, washer, dryer, dishwasher, microwave
Forced air, Central air
Wood or sim. wood floors, Walk-in closet(s), Vaulted ceiling, Washer, Dryer, Internet - Cable
Vinyl
Deck/Balcony, Private Entry
Building Details
Year Built
1996
Construction
ranch
Listing Agency:
Turning Point Realty
(608) 212-9188
Listed By:
Shelley Miller · License #55798-90
(608) 212-9188
Source:
Compass
Added: Nov 13, 2025
Changed: Aug 29
Last Checked: Aug 29 at 9:06PM
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 Turning Point Realty
Investment Insights
Based on property information with market context.
This 1,142-square-foot ranch condo is an end unit in a two-unit building with a shared wall. Built in 1996, the residence offers three bedrooms, one bathroom, and a zero-entry layout without a basement or interior stairs. The living room features a vaulted ceiling, while the kitchen and dining area are arranged in an open concept with patio access. The primary bedroom includes a walk-in closet and a pass-through to the bathroom with an additional vanity and sink area.
Main-floor utilities include a stackable washer and dryer, and the sale includes the range/oven, refrigerator, dishwasher, and microwave. The attached two-car, no-step-entry garage provides storage space along with a loft area. Exterior features include vinyl siding, a private entry, and a deck or balcony. Lawn care and snow removal are included. The property is a few minutes from downtown, grocery shopping, and restaurants, and is zoned Res.
Main-floor utilities include a stackable washer and dryer, and the sale includes the range/oven, refrigerator, dishwasher, and microwave. The attached two-car, no-step-entry garage provides storage space along with a loft area. Exterior features include vinyl siding, a private entry, and a deck or balcony. Lawn care and snow removal are included. The property is a few minutes from downtown, grocery shopping, and restaurants, and is zoned Res.
Key Highlights
- 1,142 SF ranch condo built in 1996
- Three bedrooms and one bathroom in a 55 and over development
- End unit in a two‑unit building with a shared wall
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
$9,117
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
4.05%
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%
$182,340
$182.3K
Cap Rate 7%
$130,243
$130.2K
Cap Rate 9%
$101,300
$101.3K
Market Conditions
NOI Build-Up for 1,142 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
$17.5K $15.36/SF
− Vacancy
−$965 −$0.84/SF
EGI
$16.6K $14.52/SF
− OpEx
−$7.5K −$6.53/SF
NOI
$9.1K $7.98/SF
Area
Columbia County, WI
Vacancy
5.50%
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%
$182,340
Cap Rate 7%
$130,243
Cap Rate 9%
$101,300
Alternative Uses
Best Use
Apartment 5plus
$130.2K
$114.0K – $152.0K
NOI $9,117 @ 7.0% cap · market cap 4.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$256.6K
$224.5K – $299.3K
NOI $17,959 @ 7.0% cap · market cap 7.98%
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
91
Businesses Nearby
Explore this area
Business Placement
Demographics for 53901, WI
14,924
Population
6,550
Households
2.3
Avg Household Size
42
Median Age
20%
College-Educated
91%
High-School Grad
147.3 sq mi
ZIP Area
101
Density / Sq Mi
$72,244
Median Household Income
$40,914
Median Earnings
$969
Median Rent
$214,300
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Ranch-style condo in a 55-and-over community with main-floor living and an attached two-car garage.
Where is this residential income property located?
The property is located at 535 East Slifer Street Portage, WI.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: 1,142 SF ranch condo built in 1996; Three bedrooms and one bathroom in a 55 and over development; End unit in a two‑unit building with a shared wall
