Updated Duplex with Attached
New
For Sale
$575,000
706 Forest Edge Dr, Mazomanie, WI 53560
Two mirrored residences offer finished lower levels, private laundry, attached garages, and multiple recent improvements.
Property Size1,792 SF
Price / SF$320.87
Days on Market2
Property Features for 706 Forest Edge Dr
General Information
Standard status
Active
Size
1,792 SF
Property subtype
Multi-Family
Building Details
Year Built
1995
Listed By:
Briggs Realty Group
(608) 755-5400
Source:
Thebriggsrealtygroup
Added: Sep 11
Last Checked: Sep 11 at 2:51PM
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 Briggs Realty Group
Investment Insights
Based on property information with market context.
Built in 1995, this duplex contains two matching residences, each with 3 bedrooms, 2 full baths, 1,792 square feet, main-level laundry, a full finished basement, and a 2-car attached garage. The layout provides substantial storage and separate decks. One residence has retained the same tenant since before the current owner acquired the property.
Improvements include a deck and water heater replacement on the 706 side in June 2026, a refreshed main bathroom and updated appliances, and extensive 2018 work to the 708 side. The latter included kitchen countertops and appliances, LVP flooring in key living areas, bathroom fixtures, and a washer and dryer. A new roof is scheduled for the end of September. The property is located at 706 Forest Edge Dr in Mazomanie, Wisconsin.
Improvements include a deck and water heater replacement on the 706 side in June 2026, a refreshed main bathroom and updated appliances, and extensive 2018 work to the 708 side. The latter included kitchen countertops and appliances, LVP flooring in key living areas, bathroom fixtures, and a washer and dryer. A new roof is scheduled for the end of September. The property is located at 706 Forest Edge Dr in Mazomanie, Wisconsin.
Key Highlights
- Two mirrored units, each with 3 bedrooms, 2 full baths, and 1,792 sq. ft.
- Each residence includes a full finished basement and 2‑car attached garage
- 706 side has had the same tenant since before the current owner purchased the property
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
$16,445
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
2.86%
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%
$328,900
$328.9K
Cap Rate 7%
$234,929
$234.9K
Cap Rate 9%
$182,722
$182.7K
Market Conditions
NOI Build-Up for 1,792 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
$24.7K $13.80/SF
− Vacancy
−$1.2K −$0.69/SF
EGI
$23.5K $13.11/SF
− OpEx
−$7.0K −$3.93/SF
NOI
$16.4K $9.18/SF
Area
Dane County, WI
Vacancy
5.00%
Lease Rate
$13.80 /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%
$328,900
Cap Rate 7%
$234,929
Cap Rate 9%
$182,722
Alternative Uses
Best Use
Multifamily LT 5
$234.9K
$205.6K – $274.1K
NOI $16,445 @ 7.0% cap · market cap 2.86%
Second Best
Apartment 5plus
$206.5K
$180.7K – $241.0K
NOI $14,458 @ 7.0% cap · market cap 2.51%
Theoretical Best
Office A
$416.4K
$364.4K – $485.8K
NOI $29,150 @ 7.0% cap · market cap 5.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
75
Businesses Nearby
Explore this area
Business Placement
Demographics for 53560, WI
3,714
Population
1,546
Households
2.4
Avg Household Size
45
Median Age
31%
College-Educated
97%
High-School Grad
60.1 sq mi
ZIP Area
62
Density / Sq Mi
$93,516
Median Household Income
$51,892
Median Earnings
$1,068
Median Rent
$328,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Two mirrored residences offer finished lower levels, private laundry, attached garages, and multiple recent improvements.
Where is this duplex located?
The property is located at 706 Forest Edge Dr Mazomanie, WI.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Two mirrored units, each with 3 bedrooms, 2 full baths, and 1,792 sq. ft.; Each residence includes a full finished basement and 2‑car attached garage; 706 side has had the same tenant since before the current owner purchased the property
