Residential Income Property with
For Sale
$399,900
602 East Madison Avenue Unit 35, Milton, WI 53563
Three-bedroom condominium with a screened porch, private entry, and association-maintained lawn and snow care.
Property Size2,440 SF
Price / SF$163.89
Days on Market185
Property Features for 602 East Madison Avenue Unit 35
General Information
Standard status
Active
Size
2,440 SF
Property subtype
Condo / Ranch-1 Story
Zoning
Res
Additional Details
Road Access
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$5,265
Amenities
Stove, Refrigerator, Dishwasher, Microwave, Washer, Dryer
Forced air, Central air
Wood or sim. wood floors, Walk-in closet(s), Vaulted ceiling, Washer, Dryer, Cable/Satellite Available, At Least 1 tub, Split bedrooms, Internet - Cable, Carbon Monoxide Detector, Ceiling Fan(s), Foyer Entry, Primary Bath
Vinyl
Gas, 1 fireplace
Private Entry, Deck/Balcony, Cul de Sac
Building Details
Year Built
2025
Listing Agency:
Pavelec Realty
Listed By:
Jackie Meddaugh · License #52666-90
(608) 332-2407
Source:
Compass
Added: Apr 16
Changed: Oct 13
Last Checked: Oct 16 at 11:32AM
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 Pavelec Realty
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Investment Insights
Based on property information with market context.
This 2025 condominium offers 2,440 square feet with three bedrooms and three bathrooms. The finished walk-out basement contains the third bedroom, while the main living area includes a gas fireplace, luxury flooring, upgraded fixtures, marble countertops, and ample closet storage. The primary bedroom features a walk-in closet. A 12-by-12 screened porch provides additional outdoor space and may be converted to a three-season porch. The unit also includes a washer, dryer, stove, refrigerator, and microwave.
The property is located at 602 East Madison Avenue, Unit 35, in Milton, Wisconsin, on a cul-de-sac at the end of the road. Shopping and dining are nearby. The community is designated for residents age 55 and older, with residents age 18 and older permitted subject to HOA approval. Association services include lawn and snow care. Zoning is Res.
The property is located at 602 East Madison Avenue, Unit 35, in Milton, Wisconsin, on a cul-de-sac at the end of the road. Shopping and dining are nearby. The community is designated for residents age 55 and older, with residents age 18 and older permitted subject to HOA approval. Association services include lawn and snow care. Zoning is Res.
Key Highlights
- 2,440‑square‑foot condominium with three bedrooms and three bathrooms
- Finished walk‑out basement includes the third bedroom
- 12‑by‑12 screened porch with potential three‑season conversion
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,789
Cap Rate
4.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$395,780
$395.8K
Cap Rate 7%
$282,700
$282.7K
Cap Rate 9%
$219,878
$219.9K
Market Conditions
NOI Build-Up for 2,440 SF
Gross rent
$37.5K $15.36/SF
− Vacancy
−$1.5K −$0.61/SF
EGI
$36.0K $14.75/SF
− OpEx
−$16.2K −$6.64/SF
NOI
$19.8K $8.11/SF
Area
Rock County, WI
Vacancy
4.00%
Lease Rate
$15.36 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$395,780
Cap Rate 7%
$282,700
Cap Rate 9%
$219,878
Alternative Uses
Best Use
Apartment 5plus
$282.7K
$247.4K – $329.8K
NOI $19,789 @ 7.0% cap · market cap 4.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$586.4K
$513.1K – $684.1K
NOI $41,045 @ 7.0% cap · market cap 10.26%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
1
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
162
Businesses Nearby
Explore this area
Business Placement
Demographics for 53563, WI
11,503
Population
4,672
Households
2.5
Avg Household Size
42
Median Age
31%
College-Educated
96%
High-School Grad
67.0 sq mi
ZIP Area
172
Density / Sq Mi
$89,397
Median Household Income
$47,742
Median Earnings
$972
Median Rent
$270,800
Median Home Value
Frequently Asked Questions
What type of property is this?
Residential income property - Three-bedroom condominium with a screened porch, private entry, and association-maintained lawn and snow care.
Where is this residential income property located?
The property is located at 602 East Madison Avenue Unit 35 Milton, WI.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: 2,440‑square‑foot condominium with three bedrooms and three bathrooms; Finished walk‑out basement includes the third bedroom; 12‑by‑12 screened porch with potential three‑season conversion
