Duplex with Attached
For Sale
$699,900
6834-6838 Chester Drive, Madison, WI 53719
Two-unit residential property with dual driveways, attached garages, and established mechanical systems.
Property Size4,176 SF
Price / SF$167.60
Days on Market311
Property Features for 6834-6838 Chester Drive
General Information
Standard status
Active
Size
4,176 SF
Property subtype
Multi Family / Duplex-side by side
Zoning
SR-V1
Taxes and HOA fees
Annual Taxes
$10,096
Amenities
Partially finished, Poured concrete foundatn
Natural Gas
Forced air
owner/tenants personal items
2 refrigerators, 2 range/ovens, 2 dishwashers, 2 washers, 2 dryers, 2 water softeners
2
Vinyl, Brick
Building Details
Year Built
1987
Units
2
Listing Agency:
Bunbury & Assoc, REALTORS
(608) 575-9272
Listed By:
Eric Olson · License #69746-94
(608) 575-9272
Source:
Compass
Added: Oct 24, 2025
Changed: Aug 29
Last Checked: Aug 29 at 3:30PM
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 Bunbury & Assoc, REALTORS
Investment Insights
Based on property information with market context.
This duplex contains 4,176 square feet across two residential units, with attached two-car garages and separate driveways serving the property. The building was constructed in 1987 and combines vinyl and brick exterior materials with a poured concrete foundation. Interior features include partially finished areas, natural gas service, and forced-air heating. Each unit is equipped with a refrigerator, range/oven, dishwasher, washer, dryer, and water softener.
Located at 6834-6838 Chester Drive in Madison, Wisconsin, the property carries SR-V1 zoning. Its duplex configuration, dedicated driveways, attached garage space, and existing appliance packages provide a defined residential income property format.
Located at 6834-6838 Chester Drive in Madison, Wisconsin, the property carries SR-V1 zoning. Its duplex configuration, dedicated driveways, attached garage space, and existing appliance packages provide a defined residential income property format.
Key Highlights
- 4,176‑square‑foot duplex with two residential units
- Attached two‑car garages and dual driveways
- 1987 construction with vinyl and brick exterior
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
$55,275
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
7.90%
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%
$1,105,500
$1.1M
Cap Rate 7%
$789,643
$789.6K
Cap Rate 9%
$614,167
$614.2K
Market Conditions
NOI Build-Up for 4,176 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
$82.7K $19.80/SF
− Vacancy
−$3.7K −$0.89/SF
EGI
$79.0K $18.91/SF
− OpEx
−$23.7K −$5.67/SF
NOI
$55.3K $13.24/SF
Area
Madison, WI
Vacancy
4.50%
Lease Rate
$19.80 /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%
$1,105,500
Cap Rate 7%
$789,643
Cap Rate 9%
$614,167
Alternative Uses
Best Use
Multifamily LT 5
$789.6K
$690.9K – $921.3K
NOI $55,275 @ 7.0% cap · market cap 7.90%
Second Best
Apartment 5plus
$731.8K
$640.3K – $853.7K
NOI $51,224 @ 7.0% cap · market cap 7.32%
Theoretical Best
Office A
$1.22M
$1.07M – $1.42M
NOI $85,391 @ 7.0% cap · market cap 12.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
261
Businesses Nearby
Explore this area
Business Placement
Demographics for 53719, WI
32,151
Population
16,160
Households
2
Avg Household Size
35
Median Age
61%
College-Educated
96%
High-School Grad
10.2 sq mi
ZIP Area
3,152
Density / Sq Mi
$92,223
Median Household Income
$59,334
Median Earnings
$1,429
Median Rent
$349,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property with dual driveways, attached garages, and established mechanical systems.
Where is this duplex located?
The property is located at 6834-6838 Chester Drive Madison, WI.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: 4,176‑square‑foot duplex with two residential units; Attached two‑car garages and dual driveways; 1987 construction with vinyl and brick exterior
