Historic Duplex Income
For Sale
$225,000
604 9th, Baraboo, WI 53913
Built in 1901, this duplex offers two separate rental units, with each unit currently on a month-to-month basis.
Property Size1,902 SF
Price / SF$118.30
Days on Market151
Property Features for 604 9th
General Information
Standard status
Active
Size
1,902 SF
Property subtype
Multi Family / 2 story
Zoning
RES
Taxes and HOA fees
Annual Taxes
$2,025
Amenities
Full, Other foundation
Natural Gas
Forced air
Tenants property
stove, oven, refrigerator,
2
Vinyl
Building Details
Year Built
1901
Units
2
Listing Agency:
Compass
(608) 556-4179
Listed By:
Aaron Weber · License #56448-90
(608) 556-4179
Source:
Compass
Added: Mar 13
Changed: Aug 7
Last Checked: Jul 23 at 7:30AM
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 Compass
Investment Insights
Based on property information with market context.
This built-in-1901 duplex provides two separate rental units under one roof. The main level unit is a 2-bedroom, 1-bathroom layout with 1,058 square feet of living space. Upstairs, the second unit features 1 bedroom and 1 bathroom with 844 square feet of living space. The property is sold in “as-is” condition.
Per the current setup, each unit is rented on a month-to-month basis, which may appeal to investors seeking flexible tenancy. The duplex is located at 604 9th Avenue in Baraboo, Wisconsin.
The asset is configured as a straightforward residential income property with two independent apartments, allowing for separate occupancy within the same building.
Per the current setup, each unit is rented on a month-to-month basis, which may appeal to investors seeking flexible tenancy. The duplex is located at 604 9th Avenue in Baraboo, Wisconsin.
The asset is configured as a straightforward residential income property with two independent apartments, allowing for separate occupancy within the same building.
Key Highlights
- Duplex built in 1901 with 2 separate rental units at 604 9th Avenue, Baraboo, WI
- Main level unit: 2 bed, 1 bath with 1,058 SF of living space
- Upper unit: 1 bed, 1 bath with 844 SF of living space
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
$17,363
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
7.72%
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%
$347,260
$347.3K
Cap Rate 7%
$248,043
$248.0K
Cap Rate 9%
$192,922
$192.9K
Market Conditions
NOI Build-Up for 1,902 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
$26.2K $13.80/SF
− Vacancy
−$1.4K −$0.76/SF
EGI
$24.8K $13.04/SF
− OpEx
−$7.4K −$3.91/SF
NOI
$17.4K $9.13/SF
Area
Sauk County, WI
Vacancy
5.50%
Lease Rate
$13.80 /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%
$347,260
Cap Rate 7%
$248,043
Cap Rate 9%
$192,922
Alternative Uses
Best Use
Multifamily LT 5
$248.0K
$217.0K – $289.4K
NOI $17,363 @ 7.0% cap · market cap 7.72%
Second Best
Apartment 5plus
$224.9K
$196.8K – $262.4K
NOI $15,742 @ 7.0% cap · market cap 7.00%
Theoretical Best
Office A
$385.0K
$336.9K – $449.2K
NOI $26,951 @ 7.0% cap · market cap 11.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
620
Businesses Nearby
Explore this area
Business Placement
Demographics for 53913, WI
21,046
Population
10,444
Households
2
Avg Household Size
41
Median Age
26%
College-Educated
94%
High-School Grad
138.9 sq mi
ZIP Area
152
Density / Sq Mi
$73,856
Median Household Income
$44,261
Median Earnings
$951
Median Rent
$214,500
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 - Built in 1901, this duplex offers two separate rental units, with each unit currently on a month-to-month basis.
Where is this duplex located?
The property is located at 604 9th Baraboo, 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: Duplex built in 1901 with 2 separate rental units at 604 9th Avenue, Baraboo, WI; Main level unit: 2 bed, 1 bath with 1,058 SF of living space; Upper unit: 1 bed, 1 bath with 844 SF of living space
