Corner-Lot Duplex For
For Sale
$649,900
Pending
6934-6938 Chester Drive, Madison, WI 53719
Duplex on a corner lot configured for tenant privacy, offered for sale.
Property Size2,106 SF
Days on Market180
Property Features for 6934-6938 Chester Drive
General Information
Standard status
Pending
Size
2,106 SF
Property subtype
Multi Family / Duplex-side by side
Zoning
SR-V1
Taxes and HOA fees
Annual Taxes
$10,006
Amenities
Full, Partially finished
Natural Gas
Forced air
2 refrigerators, 2 range/ovens, 2 dishwashers, 2 washer/dryers, 2 water softeners
2
Vinyl, Brick
Building Details
Year Built
1985
Units
2
Listing Agency:
Bunbury & Assoc, REALTORS
Listed By:
Eric Olson · License #69746-94
(608) 575-9272
Source:
Compass
Added: Mar 13
Changed: Aug 8
Last Checked: Aug 3 at 12:46PM
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 for-sale duplex features two residential units in a corner-lot setting. The property is described as having a stately appearance and is positioned to provide tenants with a greater sense of privacy.
Set on a corner lot at 6934–6938 Chester Drive in Madison, the building offers an arrangement that can help reduce direct overlap between neighboring sides.
Ideal for buyers seeking a residential income property, this duplex provides a straightforward two-unit structure within a corner-lot layout.
Set on a corner lot at 6934–6938 Chester Drive in Madison, the building offers an arrangement that can help reduce direct overlap between neighboring sides.
Ideal for buyers seeking a residential income property, this duplex provides a straightforward two-unit structure within a corner-lot layout.
Key Highlights
- Duplex on a corner lot configured to offer tenant privacy
- Year built: 1985
- Full, partially finished basement
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
$27,876
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
4.29%
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%
$557,520
$557.5K
Cap Rate 7%
$398,229
$398.2K
Cap Rate 9%
$309,733
$309.7K
Market Conditions
NOI Build-Up for 2,106 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
$41.7K $19.80/SF
− Vacancy
−$1.9K −$0.89/SF
EGI
$39.8K $18.91/SF
− OpEx
−$11.9K −$5.67/SF
NOI
$27.9K $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%
$557,520
Cap Rate 7%
$398,229
Cap Rate 9%
$309,733
Alternative Uses
Best Use
Multifamily LT 5
$398.2K
$348.5K – $464.6K
NOI $27,876 @ 7.0% cap · market cap 4.29%
Second Best
Apartment 5plus
$369.0K
$322.9K – $430.6K
NOI $25,833 @ 7.0% cap · market cap 3.97%
Theoretical Best
Office A
$615.2K
$538.3K – $717.7K
NOI $43,063 @ 7.0% cap · market cap 6.63%
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
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Frequently Asked Questions
What type of property is this?
Duplex - Duplex on a corner lot configured for tenant privacy, offered for sale.
Where is this duplex located?
The property is located at 6934-6938 Chester Drive Madison, WI.
What is the asking price?
The asking price for this property is $649,900.
What are key features of this property?
This property features: Duplex on a corner lot configured to offer tenant privacy; Year built: 1985; Full, partially finished basement
