Ranch-Style Condo with Finished
602 East Madison Avenue Unit 19 Milton, WI 53563
602 East Madison Avenue Unit 19, Milton, WI, 53563
$275,000
For Sale
$275,000
Ranch-style condo with zero-entry 2-car garage and finished basement offering flexible third-bedroom option.
Property Size2,388 SF
Price / SF$115.16
Days on Market162
Property Features for 602 East Madison Avenue Unit 19
General Information
- Standard status
- Active
- Size
- 2,388 SF
- Property subtype
- Condo / Ranch-1 Story
Building Details
- Year Built
- 2004
Listing agency
Kim Colby Homes
(608) 436-4511
Listed by
Kimberly Colby · License #59199-90
(608) 436-4511
Source
Compass
Added: Feb 11 Updated: Jul 22 at 6:12AM Checked: Jul 22 at 6:12AM
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 Kim Colby Homes
Investment Insights
Based on property information with market context.
This spacious ranch-style condo is located in a private community on a quiet cul-de-sac. The unit offers 2 bedrooms and 2 full baths, with a finished basement that provides a potential third-bedroom option. Inside, the open main level features a stone gas fireplace and a kitchen island, and all appliances are included.
Convenience is built into the layout with a 2-car garage that provides zero-entry access directly into the condo. The home is designed for low-maintenance living, with a $100/month condo fee.
With approximately 2,388 square feet of comfortable living space, this setup combines main-level openness with additional finished basement area for flexible use within a peaceful, private setting.
Convenience is built into the layout with a 2-car garage that provides zero-entry access directly into the condo. The home is designed for low-maintenance living, with a $100/month condo fee.
With approximately 2,388 square feet of comfortable living space, this setup combines main-level openness with additional finished basement area for flexible use within a peaceful, private setting.
Key Highlights
- Ranch‑style condo in a private community on a quiet cul‑de‑sac
- 2 bedrooms, 2 full baths; finished basement provides a potential third‑bedroom option
- 2,388 sq ft of living space with an open main level
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $36.7k | $15.36 |
| − Vacancy | −$1.5k | −$0.61 |
| EGI | $35.2k | $14.75 |
| − OpEx | −$15.8k | −$6.64 |
| NOI | $19.4k | $8.11 |
2,388 SF · lease $15.36/SF/yr · vacancy 4.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$276.7K
$242.1K – $322.8K
NOI $19,367 @ 7.0% cap · market cap 7.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$573.9K
$502.1K – $669.5K
NOI $40,170 @ 7.0% cap · market cap 14.61%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Residential income properties
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FAQs
What type of property is this?
Residential income property - Ranch-style condo with zero-entry 2-car garage and finished basement offering flexible third-bedroom option.
Where is this residential income property located?
The property is located at 602 East Madison Avenue Unit 19 Milton, WI.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Ranch‑style condo in a private community on a quiet cul‑de‑sac; 2 bedrooms, 2 full baths; finished basement provides a potential third‑bedroom option; 2,388 sq ft of living space with an open main level
