Renovated Two-Unit
618 North Street Madison, WI 53704
618 North Street, Madison, WI, 53704
$359,900
For Sale
$359,900
Renovated duplex with two units, including recent flooring and a front efficiency unit fully updated this year.
Property Size1,028 SF
Price / SF$350.10
Days on Market34
Property Features for 618 North Street
General Information
- Standard status
- Active
- Size
- 1,028 SF
- Property subtype
- Multi Family / Duplex-side by side
Building Details
- Year Built
- 1923
Listing agency
Realty Executives Cooper Spransy
(608) 320-9612
Listed by
Seth Peterson · License #56704-90 2283-106
(608) 320-9612
Source
Compass
Added: Jun 19 Updated: Jul 21 at 8:01PM Checked: Jul 22 at 6:07AM
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 Realty Executives Cooper Spransy
Investment Insights
Based on property information with market context.
This renovated two-unit duplex includes a 1-bedroom unit with an additional extra space that could function as an office or a second living/dining area. Subfloor repairs have been completed, with brand new LVP flooring installed, and the 1-bedroom unit was totally renovated in recent years. The front efficiency unit was renovated this year with new kitchen and bathroom finishes, along with updated flooring and paint.
The property also features recent exterior improvements including a new roof, gutters, soffit, and fascia, plus a couple of new windows in the front unit. New electric panels and meters have been installed, and the unit setup allows tenants to pay their own electric bill.
Measurements are approximate and should be verified by the buyer if important.
The property also features recent exterior improvements including a new roof, gutters, soffit, and fascia, plus a couple of new windows in the front unit. New electric panels and meters have been installed, and the unit setup allows tenants to pay their own electric bill.
Measurements are approximate and should be verified by the buyer if important.
Key Highlights
- Renovated 2‑unit duplex built in 1923
- 1BD unit is rented for $1,425/month
- Front efficiency unit renovated this year with new kitchen, bathroom, flooring, and paint
Local Financial Insights For Multifamily LT 5
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 | $20.4k | $19.80 |
| − Vacancy | −$916 | −$0.89 |
| EGI | $19.4k | $18.91 |
| − OpEx | −$5.8k | −$5.67 |
| NOI | $13.6k | $13.24 |
1,028 SF · lease $19.80/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$194.4K
$170.1K – $226.8K
NOI $13,607 @ 7.0% cap · market cap 3.78%
Second Best
Apartment 5plus
$180.1K
$157.6K – $210.2K
NOI $12,610 @ 7.0% cap · market cap 3.50%
Theoretical Best
Office A
$300.3K
$262.8K – $350.4K
NOI $21,021 @ 7.0% cap · market cap 5.84%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Renovated duplex with two units, including recent flooring and a front efficiency unit fully updated this year.
Where is this duplex located?
The property is located at 618 North Street Madison, WI.
What is the asking price?
The asking price for this property is $359,900.
What are key features of this property?
This property features: Renovated 2‑unit duplex built in 1923; 1BD unit is rented for $1,425/month; Front efficiency unit renovated this year with new kitchen, bathroom, flooring, and paint
