Ranch-Style Duplex with
For Sale
$430,000
Pending
5603 Calico Drive, Madison, WI 53718
Bright ranch-style duplex with vaulted ceilings, skylights, and a finished lower level with walk-out access.
Property Size2,650 SF
Days on Market233
Property Features for 5603 Calico Drive
General Information
Standard status
Pending
Size
2,650 SF
Property subtype
Condo / Ranch-1 Story
Zoning
Res
Taxes and HOA fees
Annual Taxes
$7,582
Amenities
Seller's personal property, upstairs office techline cabinets and desk, sauna, upright freezer and refrigerator in lower level
Refrigerator, Microwave, Oven, Dishwasher, Water Softener, Blinds, Curtains, Washer, Dryer
Forced air, Central air
Walk-in closet(s), Great room, Vaulted ceiling, Water softener included, Cable/Satellite Available, At Least 1 tub
Vinyl, Brick, Stone
Gas
Private Entry, Deck/Balcony
Building Details
Year Built
2002
Listing Agency:
Real Broker LLC
(608) 527-0753
Listed By:
Marine Yoo · License #58777-90
(608) 527-0753
Source:
Compass
Added: Jan 11
Changed: Aug 8
Last Checked: Jul 23 at 8:29AM
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 Real Broker LLC
Investment Insights
Based on property information with market context.
Welcome to a bright and airy ranch-style duplex at 5603 Calico Drive in Madison, WI. The main living spaces feature vaulted ceilings and skylights, creating an open, naturally lit atmosphere. Acacia wood floors add warmth and character throughout the main level. A south-facing sunroom provides a comfortable spot for year-round relaxation.
The finished lower level offers additional living space with a cozy gas fireplace and walk-out access. The property backs up to peaceful green space, offering privacy and serene views while remaining close to what Madison has to offer. A two-car garage provides convenient parking and additional storage.
This duplex presents a comfortable, light-filled layout with interior finishes on both levels and direct outdoor connection from the lower level via the walk-out area.
The finished lower level offers additional living space with a cozy gas fireplace and walk-out access. The property backs up to peaceful green space, offering privacy and serene views while remaining close to what Madison has to offer. A two-car garage provides convenient parking and additional storage.
This duplex presents a comfortable, light-filled layout with interior finishes on both levels and direct outdoor connection from the lower level via the walk-out area.
Key Highlights
- Ranch‑style duplex built in 2002 with bright, open main living space
- Vaulted ceilings and skylights; south‑facing sunroom for year‑round relaxation
- Gas fireplace in main living area and an additional gas fireplace in the finished lower level
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
$35,076
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%
$701,520
$701.5K
Cap Rate 7%
$501,086
$501.1K
Cap Rate 9%
$389,733
$389.7K
Market Conditions
NOI Build-Up for 2,650 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
$52.5K $19.80/SF
− Vacancy
−$2.4K −$0.89/SF
EGI
$50.1K $18.91/SF
− OpEx
−$15.0K −$5.67/SF
NOI
$35.1K $13.24/SF
Area
Madison, WI
Vacancy
4.50%
Lease Rate
$19.80 /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%
$701,520
Cap Rate 7%
$501,086
Cap Rate 9%
$389,733
Alternative Uses
Best Use
Multifamily LT 5
$501.1K
$438.5K – $584.6K
NOI $35,076 @ 7.0% cap · market cap 8.16%
Second Best
Apartment 5plus
$464.4K
$406.3K – $541.8K
NOI $32,506 @ 7.0% cap · market cap 7.56%
Theoretical Best
Office A
$774.1K
$677.3K – $903.1K
NOI $54,187 @ 7.0% cap · market cap 12.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
93
Businesses Nearby
Explore this area
Business Placement
Demographics for 53718, WI
17,034
Population
8,408
Households
2
Avg Household Size
37
Median Age
49%
College-Educated
96%
High-School Grad
20.8 sq mi
ZIP Area
819
Density / Sq Mi
$94,899
Median Household Income
$60,518
Median Earnings
$1,606
Median Rent
$328,500
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 - Bright ranch-style duplex with vaulted ceilings, skylights, and a finished lower level with walk-out access.
Where is this duplex located?
The property is located at 5603 Calico Drive Madison, WI.
What is the asking price?
The asking price for this property is $430,000.
What are key features of this property?
This property features: Ranch‑style duplex built in 2002 with bright, open main living space; Vaulted ceilings and skylights; south‑facing sunroom for year‑round relaxation; Gas fireplace in main living area and an additional gas fireplace in the finished lower level
