Duplex With Recent Roof And
For Sale
$329,000
600 North 4th Street, Watertown, WI 53098
Owner-occupied duplex for sale in Watertown with a roof and gutters under a year old and two recently replaced furnaces.
Property Size2,950 SF
Price / SF$111.53
Days on Market152
Property Features for 600 North 4th Street
General Information
Standard status
Active
Size
2,950 SF
Property subtype
Multi Family / 2 story
Zoning
TR-6
Taxes and HOA fees
Annual Taxes
$3,253
Amenities
Partial
Natural Gas
Forced air
Occupants' personal property
2 Refrigerators, 2 Stoves, 2 microwaves, 1 dishwasher, 1 Washer, 1 Dryer, 1 Water softener,
1
3
2
Brick, Stone
Building Details
Year Built
1850
Units
2
Listing Agency:
Keller Williams Rlty Integrity
Listed By:
Denis N Greatens · License #5774394
(715) 307-0629
Source:
Compass
Added: Apr 10
Changed: Sep 8
Last Checked: Jul 28 at 12:07PM
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 Keller Williams Rlty Integrity
Investment Insights
Based on property information with market context.
This owner-occupied duplex at 600 N 4th Street in Watertown is offered for sale in a meticulously maintained condition. The property features major capital improvements already completed, and includes a roof and gutters less than one year old. Both furnaces have also been recently replaced, supporting comfortable, worry-free operation.
The current configuration allows for flexible occupancy, including the option to live in one unit and rent the other. The home is located in the heart of Watertown, near local parks and downtown amenities, offering convenient access to surrounding day-to-day needs.
As presented, the duplex offers a straightforward residential income setup with documented updates that can help protect ongoing maintenance planning for the next owner.
The current configuration allows for flexible occupancy, including the option to live in one unit and rent the other. The home is located in the heart of Watertown, near local parks and downtown amenities, offering convenient access to surrounding day-to-day needs.
As presented, the duplex offers a straightforward residential income setup with documented updates that can help protect ongoing maintenance planning for the next owner.
Key Highlights
- Owner‑occupied multi‑family duplex in Watertown
- Roof and gutters are less than 1 year old
- Both furnaces have been recently replaced
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
$26,353
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
8.01%
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%
$527,060
$527.1K
Cap Rate 7%
$376,471
$376.5K
Cap Rate 9%
$292,811
$292.8K
Market Conditions
NOI Build-Up for 2,950 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
$38.9K $13.20/SF
− Vacancy
−$1.3K −$0.44/SF
EGI
$37.6K $12.76/SF
− OpEx
−$11.3K −$3.83/SF
NOI
$26.4K $8.93/SF
Area
Dodge County, WI
Vacancy
3.32%
Lease Rate
$13.20 /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%
$527,060
Cap Rate 7%
$376,471
Cap Rate 9%
$292,811
Alternative Uses
Best Use
Multifamily LT 5
$376.5K
$329.4K – $439.2K
NOI $26,353 @ 7.0% cap · market cap 8.01%
Second Best
Apartment 5plus
$348.9K
$305.3K – $407.1K
NOI $24,425 @ 7.0% cap · market cap 7.42%
Theoretical Best
Office A
$640.8K
$560.7K – $747.7K
NOI $44,859 @ 7.0% cap · market cap 13.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
732
Businesses Nearby
Explore this area
Business Placement
Demographics for 53098, WI
11,562
Population
4,753
Households
2.4
Avg Household Size
47
Median Age
17%
College-Educated
93%
High-School Grad
101.6 sq mi
ZIP Area
114
Density / Sq Mi
$73,147
Median Household Income
$36,156
Median Earnings
$1,100
Median Rent
$239,700
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 - Owner-occupied duplex for sale in Watertown with a roof and gutters under a year old and two recently replaced furnaces.
Where is this duplex located?
The property is located at 600 North 4th Street Watertown, WI.
What is the asking price?
The asking price for this property is $329,000.
What are key features of this property?
This property features: Owner‑occupied multi‑family duplex in Watertown; Roof and gutters are less than 1 year old; Both furnaces have been recently replaced
