Pond-View Duplex with Expansion
For Sale
$399,900
616 Ridge Street, Stoughton, WI 53589
Two-bedroom units with pond views, separate appliances, and radiant heat in a wood-sided residential property.
Property Size1,976 SF
Price / SF$202.38
Days on Market372
Property Features for 616 Ridge Street
General Information
Standard status
Active
Size
1,976 SF
Property subtype
Multi Family / SingleFam zoned MultiFam
Zoning
RES
Units
Unit Mix
2 x 2BR
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,737
Amenities
Full
Natural Gas
Radiant
2 stoves, 2 refrigerator
2
1
Wood
Building Details
Year Built
1900
Units
2
Listing Agency:
Preferred Realty Group
(608) 206-1209
Listed By:
Kelly Haase · License #32247-94
(608) 206-1209
Source:
Compass
Added: Aug 24, 2025
Changed: Aug 29
Last Checked: Aug 29 at 8:38PM
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 Preferred Realty Group
Investment Insights
Based on property information with market context.
This duplex contains two two-bedroom units within a 1,976-square-foot residential property. Each unit is equipped with a stove and refrigerator, while the building features natural-gas radiant heat and wood exterior construction. The lower portion offers possible expansion space connected to the main-level unit.
The property overlooks a pond, with views extending from the balcony and backyard. Built in 1900 and zoned RES, the duplex is located at 616 Ridge Street in Stoughton, Wisconsin.
The property overlooks a pond, with views extending from the balcony and backyard. Built in 1900 and zoned RES, the duplex is located at 616 Ridge Street in Stoughton, Wisconsin.
Key Highlights
- Two‑unit duplex with two bedrooms in each unit
- 1,976‑square‑foot property built in 1900
- Pond outlook from the balcony and backyard
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
$18,134
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
4.53%
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%
$362,680
$362.7K
Cap Rate 7%
$259,057
$259.1K
Cap Rate 9%
$201,489
$201.5K
Market Conditions
NOI Build-Up for 1,976 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
$27.3K $13.80/SF
− Vacancy
−$1.4K −$0.69/SF
EGI
$25.9K $13.11/SF
− OpEx
−$7.8K −$3.93/SF
NOI
$18.1K $9.18/SF
Area
Dane County, WI
Vacancy
5.00%
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%
$362,680
Cap Rate 7%
$259,057
Cap Rate 9%
$201,489
Alternative Uses
Best Use
Multifamily LT 5
$259.1K
$226.7K – $302.2K
NOI $18,134 @ 7.0% cap · market cap 4.53%
Second Best
Apartment 5plus
$227.7K
$199.3K – $265.7K
NOI $15,942 @ 7.0% cap · market cap 3.99%
Theoretical Best
Office A
$459.2K
$401.8K – $535.7K
NOI $32,143 @ 7.0% cap · market cap 8.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
606
Businesses Nearby
Explore this area
Business Placement
Demographics for 53589, WI
19,888
Population
9,014
Households
2.2
Avg Household Size
45
Median Age
40%
College-Educated
96%
High-School Grad
85.0 sq mi
ZIP Area
234
Density / Sq Mi
$93,509
Median Household Income
$52,809
Median Earnings
$1,150
Median Rent
$318,300
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 - Two-bedroom units with pond views, separate appliances, and radiant heat in a wood-sided residential property.
Where is this duplex located?
The property is located at 616 Ridge Street Stoughton, 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: Two‑unit duplex with two bedrooms in each unit; 1,976‑square‑foot property built in 1900; Pond outlook from the balcony and backyard
