Ranch Residential Income
For Sale
$425,000
649 Springbrook Circle Unit 46, De Forest, WI 53532
55+ ranch condominium with zero-step access, a creekside setting, sunroom, deck, and attached garage.
Property Size1,603 SF
Price / SF$265.13
Days on Market116
Property Features for 649 Springbrook Circle Unit 46
General Information
Standard status
Active
Size
1,603 SF
Property subtype
Condo / Ranch-1 Story
Zoning
Res
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$6,010
Amenities
sunroom
deck
walk-in shower
walk-in closet
main floor laundry
garage
zero clearance entry
Seller's personal property
Range/Oven, Refrigerator, Dishwasher, Microwave, Disposal, Clothes Washer and Dryer, All Window Treatments, Water Softener, Garage Door Opener
Forced air, Central air
Wood or sim. wood floors, Walk-in closet(s), Great room, Washer, Dryer, Water softener included, Security system for Unit, Cable/Satellite Available, At Least 1 tub, Split bedrooms, Internet - Cable, Foyer Entry, Primary Bath
Vinyl, Brick
Gas, 1 fireplace
Private Entry, Deck/Balcony
Building Details
Year Built
2000
Construction
ranch
Listing Agency:
First Weber Inc
(608) 575-7307
Listed By:
Jeff Lange · License #26890-90 979-4
(608) 575-7307
Source:
Compass
Added: May 7
Changed: Aug 30
Last Checked: Aug 30 at 6:17AM
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 First Weber Inc
Investment Insights
Based on property information with market context.
This 2000-built ranch condominium provides 1,603 square feet on the main floor, with two bedrooms, two bathrooms, and an unfinished lower level offering partial exposure for storage or future expansion. The middle-unit layout includes a private primary suite with a walk-in shower and walk-in closet, main-level laundry, a great room, and split bedrooms. A sunroom extends toward the backyard and connects to a newer deck, while the residence also includes an attached garage and zero-clearance entry from both the front door and garage.
Set within the 55+ Springbrook neighborhood, the property backs to a creek or waterway with views toward waterfowl, deer, and birdlife. Included features include a range/oven, refrigerator, dishwasher, microwave, disposal, clothes washer and dryer, window treatments, water softener, garage door opener, forced-air heat, central air, and a fireplace. Recent interior work includes painting in many rooms and the garage.
Set within the 55+ Springbrook neighborhood, the property backs to a creek or waterway with views toward waterfowl, deer, and birdlife. Included features include a range/oven, refrigerator, dishwasher, microwave, disposal, clothes washer and dryer, window treatments, water softener, garage door opener, forced-air heat, central air, and a fireplace. Recent interior work includes painting in many rooms and the garage.
Key Highlights
- 1,603 SF main floor with unfinished lower level and partial exposure
- Two‑bedroom, two‑bath ranch condominium built in 2000
- Zero‑clearance access at the front entry and garage
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
$12,933
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
3.04%
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%
$258,660
$258.7K
Cap Rate 7%
$184,757
$184.8K
Cap Rate 9%
$143,700
$143.7K
Market Conditions
NOI Build-Up for 1,603 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
$24.6K $15.36/SF
− Vacancy
−$1.1K −$0.69/SF
EGI
$23.5K $14.67/SF
− OpEx
−$10.6K −$6.60/SF
NOI
$12.9K $8.07/SF
Area
Dane County, WI
Vacancy
4.50%
Lease Rate
$15.36 /SF/Yr
Expense Ratio
45.00%
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%
$258,660
Cap Rate 7%
$184,757
Cap Rate 9%
$143,700
Alternative Uses
Best Use
Apartment 5plus
$184.8K
$161.7K – $215.6K
NOI $12,933 @ 7.0% cap · market cap 3.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$372.5K
$325.9K – $434.6K
NOI $26,075 @ 7.0% cap · market cap 6.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
97
Businesses Nearby
Explore this area
Business Placement
Demographics for 53532, WI
15,962
Population
6,375
Households
2.5
Avg Household Size
39
Median Age
43%
College-Educated
97%
High-School Grad
54.2 sq mi
ZIP Area
295
Density / Sq Mi
$110,050
Median Household Income
$56,970
Median Earnings
$1,381
Median Rent
$355,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - 55+ ranch condominium with zero-step access, a creekside setting, sunroom, deck, and attached garage.
Where is this residential income property located?
The property is located at 649 Springbrook Circle Unit 46 De Forest, WI.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: 1,603 SF main floor with unfinished lower level and partial exposure; Two‑bedroom, two‑bath ranch condominium built in 2000; Zero‑clearance access at the front entry and garage
