Duplex with Two-Car
For Sale
$825,000
7002-7004 Longmeadow Road, Madison, WI 53717
Well-maintained duplex with two separate 3-bedroom townhouse units, each featuring a private entrance and attached two-car garage.
Property Size3,414 SF
Price / SF$241.65
Days on Market84
Property Features for 7002-7004 Longmeadow Road
General Information
Standard status
Active
Size
3,414 SF
Total Parking Spaces
4
Property subtype
Multi Family / Duplex-side by side
Zoning
PD
Additional Details
Fenced Yard
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$12,694
Amenities
private entrance
finished lower-level
recreation room
laundry area
storage
fenced-in back yard
patio
Full, Poured concrete foundatn, Lower basement laundry
Natural Gas
Forced air
Seller's & tenant's personal property.
2 Refrigerators 2 Stoves 2 Dishwashers 2 Disposals 2 Washers 2 Dryers 2 Water Softeners
2
Aluminum/Steel, Brick, Aluminum Trim
Building Details
Year Built
1989
Stories
2
Units
2
Tenancy
Multi
Listing Agency:
Lannon Stone Realty LLC
Listed By:
Cindy Heberling · License #81103-94
(608) 770-2141
Source:
Compass
Added: Jun 15
Changed: Aug 8
Last Checked: Jul 23 at 9:50AM
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 Lannon Stone Realty LLC
Investment Insights
Based on property information with market context.
This well-maintained duplex includes two townhouse-style units, each offering three bedrooms and 2.5 bathrooms. Both units have private entrances and attached two-car garages. Interiors are arranged with a first-floor living room, kitchen with dinette area, great room, and a powder room. The second floor features a primary suite with a private full bath, with the remaining bedrooms served by a full hallway bathroom. Each unit also includes a finished lower level with a recreation room, laundry area, and ample storage. A fenced backyard with a patio is included for outdoor space.
The property is located in the Wexford Village neighborhood of Madison, with access to shopping, dining, parks, bus lines, and major commuter routes. Public transportation access is highlighted in the remarks.
The layout provides two fully separated residences within one property, each supported by attached parking and additional finished space in the lower level.
The property is located in the Wexford Village neighborhood of Madison, with access to shopping, dining, parks, bus lines, and major commuter routes. Public transportation access is highlighted in the remarks.
The layout provides two fully separated residences within one property, each supported by attached parking and additional finished space in the lower level.
Key Highlights
- Well‑maintained duplex built in 1989 with two separate 3‑bedroom, 2.5‑bath townhouse‑style units.
- Each unit has a private entrance and an attached two‑car garage.
- Finished lower‑level features include a recreation room, laundry area, and ample storage.
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
$45,189
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
5.48%
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%
$903,780
$903.8K
Cap Rate 7%
$645,557
$645.6K
Cap Rate 9%
$502,100
$502.1K
Market Conditions
NOI Build-Up for 3,414 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
$67.6K $19.80/SF
− Vacancy
−$3.0K −$0.89/SF
EGI
$64.6K $18.91/SF
− OpEx
−$19.4K −$5.67/SF
NOI
$45.2K $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%
$903,780
Cap Rate 7%
$645,557
Cap Rate 9%
$502,100
Alternative Uses
Best Use
Multifamily LT 5
$645.6K
$564.9K – $753.2K
NOI $45,189 @ 7.0% cap · market cap 5.48%
Second Best
Apartment 5plus
$598.2K
$523.5K – $698.0K
NOI $41,877 @ 7.0% cap · market cap 5.08%
Theoretical Best
Office A
$997.3K
$872.6K – $1.16M
NOI $69,809 @ 7.0% cap · market cap 8.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
244
Businesses Nearby
Explore this area
Business Placement
Demographics for 53717, WI
12,798
Population
6,404
Households
2
Avg Household Size
40
Median Age
66%
College-Educated
96%
High-School Grad
3.6 sq mi
ZIP Area
3,555
Density / Sq Mi
$96,245
Median Household Income
$56,313
Median Earnings
$1,385
Median Rent
$404,600
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 - Well-maintained duplex with two separate 3-bedroom townhouse units, each featuring a private entrance and attached two-car garage.
Where is this duplex located?
The property is located at 7002-7004 Longmeadow Road Madison, WI.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: Well‑maintained duplex built in 1989 with two separate 3‑bedroom, 2.5‑bath townhouse‑style units.; Each unit has a private entrance and an attached two‑car garage.; Finished lower‑level features include a recreation room, laundry area, and ample storage.
