Two-Bedroom Residential Income
For Sale
$195,000
715 Canterberry Court Unit 109, West Bend, WI 53090
Condo with private patio, in-unit laundry, and access to shared fitness and activity spaces.
Property Size1,294 SF
Price / SF$150.70
Days on Market198
Property Features for 715 Canterberry Court Unit 109
General Information
Standard status
Active
Size
1,294 SF
Total Parking Spaces
2
Property subtype
Condo / Ranch-1 Story
Zoning
res/multi
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,370
Amenities
fitness room
library
activity room with kitchen and fireplace
outdoor deck
in-unit laundry
Seller's Personal Property.
Refrigerator, Oven/Range, Microwave, Dishwasher, Washer, Dryer, Water Softener.
Wall AC
Wood or sim. wood floors, Walk-in closet(s), Washer, Dryer, Water softener included, Cable/Satellite Available, Storage Unit Inc, At Least 1 tub, Split bedrooms
Vinyl, Brick, Stone
Patio
Building Details
Year Built
1993
Listing Agency:
Better Homes and Gardens Real Estate Dream Partners
Listed By:
Kevin Clark · License #58504-90
(608) 345-6197
Source:
Compass
Added: Feb 19
Changed: Aug 31
Last Checked: Aug 31 at 1:35AM
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 Better Homes and Gardens Real Estate Dream Partners
Investment Insights
Based on property information with market context.
Located at 715 Canterberry Court, Unit 109, this 1,294-square-foot residential income property was built in 1993 and includes two bedrooms and two bathrooms. The interior features granite countertops, simulated wood flooring, walk-in closets, split bedrooms, direct bath access, and a water softener. In-unit laundry and a kitchen appliance package with refrigerator, oven/range, microwave, and dishwasher are included. Patio doors open to a main-level patio, while a storage unit adds practical space.
The property includes two assigned spaces in an underground garage, providing covered parking. Shared amenities include a fitness room, library, activity room with kitchen and fireplace, and an outdoor deck. Zoning is listed as res/multi.
The property includes two assigned spaces in an underground garage, providing covered parking. Shared amenities include a fitness room, library, activity room with kitchen and fireplace, and an outdoor deck. Zoning is listed as res/multi.
Key Highlights
- 1,294 SF residential income property with 2 bedrooms and 2 bathrooms
- Two assigned spaces in the underground garage
- Main‑level patio accessed through patio doors
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
$12,309
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
6.31%
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%
$246,180
$246.2K
Cap Rate 7%
$175,843
$175.8K
Cap Rate 9%
$136,767
$136.8K
Market Conditions
NOI Build-Up for 1,294 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
$23.8K $18.36/SF
− Vacancy
−$1.4K −$1.06/SF
EGI
$22.4K $17.30/SF
− OpEx
−$10.1K −$7.78/SF
NOI
$12.3K $9.51/SF
Area
Washington County, WI
Vacancy
5.80%
Lease Rate
$18.36 /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%
$246,180
Cap Rate 7%
$175,843
Cap Rate 9%
$136,767
Alternative Uses
Best Use
Apartment 5plus
$175.8K
$153.9K – $205.2K
NOI $12,309 @ 7.0% cap · market cap 6.31%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$355.7K
$311.3K – $415.0K
NOI $24,902 @ 7.0% cap · market cap 12.77%
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
362
Businesses Nearby
Explore this area
Business Placement
Demographics for 53090, WI
21,478
Population
9,247
Households
2.3
Avg Household Size
43
Median Age
29%
College-Educated
95%
High-School Grad
57.9 sq mi
ZIP Area
371
Density / Sq Mi
$87,786
Median Household Income
$49,156
Median Earnings
$1,132
Median Rent
$267,500
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Condo with private patio, in-unit laundry, and access to shared fitness and activity spaces.
Where is this residential income property located?
The property is located at 715 Canterberry Court Unit 109 West Bend, WI.
What is the asking price?
The asking price for this property is $195,000.
What are key features of this property?
This property features: 1,294 SF residential income property with 2 bedrooms and 2 bathrooms; Two assigned spaces in the underground garage; Main‑level patio accessed through patio doors
