Ranch-Style Duplex
For Sale
$475,000
749 Cricket Lane Unit 749, Middleton, WI 53562
Single-level living is paired with a finished lower level offering flexible recreational and office space.
Property Size2,435 SF
Price / SF$195.07
Days on Market200
Property Features for 749 Cricket Lane Unit 749
General Information
Standard status
Active
Size
2,435 SF
Property subtype
Condo / Ranch-1 Story
Zoning
SR-V2
Taxes and HOA fees
Annual Taxes
$7,666
Amenities
Sellers Personal Property- Trustees are unsure if the H2O softener is rented or owned
Range/Oven, Refrigerator, Dishwasher, Microwave, Window Coverings, Garage Openers/Remote,
Forced air, Central air
Wood or sim. wood floors, Walk-in closet(s), Great room, Vaulted ceiling, Washer, Dryer, Water softener RENTED, Wet bar, Cable/Satellite Available, At Least 1 tub, Internet - Cable, Internet -Fiber Available
Vinyl, Brick
2 fireplaces, Gas
Deck/Balcony, Private Entry
Building Details
Year Built
2004
Construction
ranch-style
Listing Agency:
Compass
(608) 212-2928
Listed By:
Wanda Roche · License #55766-90
(608) 212-2928
Source:
Compass
Added: Feb 13
Changed: Aug 30
Last Checked: Aug 30 at 1:00PM
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 Compass
Investment Insights
Based on property information with market context.
This ranch-style duplex condo provides 2,435 square feet of finished living area across two levels. The main floor includes two bedrooms, two bathrooms, a living room with fireplace, and an open kitchen and dining area. The lower level adds a family or game room, wet bar, office, fireplace, and full bathroom. A private entry, deck or balcony, vaulted ceiling, great room, wood or similar wood floors, and walk-in closets are among the additional features. The property also includes a range/oven, refrigerator, dishwasher, microwave, washer, dryer, central air, and forced-air heating.
Built in 2004, the condo has vinyl and brick exterior finishes, two gas fireplaces, and a 2-1/2 car garage. It is located at 749 Cricket Lane, Unit 749, Middleton, WI 53562, and is associated with Middleton schools. Zoning is SR-V2.
Built in 2004, the condo has vinyl and brick exterior finishes, two gas fireplaces, and a 2-1/2 car garage. It is located at 749 Cricket Lane, Unit 749, Middleton, WI 53562, and is associated with Middleton schools. Zoning is SR-V2.
Key Highlights
- 2,435 square feet of finished living area
- Two bedrooms and two bathrooms on the main level
- Finished lower level with family/game room, wet bar, office, and full bathroom
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
$19,645
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
4.14%
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%
$392,900
$392.9K
Cap Rate 7%
$280,643
$280.6K
Cap Rate 9%
$218,278
$218.3K
Market Conditions
NOI Build-Up for 2,435 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
$37.4K $15.36/SF
− Vacancy
−$1.7K −$0.69/SF
EGI
$35.7K $14.67/SF
− OpEx
−$16.1K −$6.60/SF
NOI
$19.6K $8.07/SF
Area
Dane County, WI
Vacancy
4.50%
Lease Rate
$15.36 /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%
$392,900
Cap Rate 7%
$280,643
Cap Rate 9%
$218,278
Alternative Uses
Best Use
Apartment 5plus
$280.6K
$245.6K – $327.4K
NOI $19,645 @ 7.0% cap · market cap 4.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$565.8K
$495.1K – $660.2K
NOI $39,609 @ 7.0% cap · market cap 8.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
45
Businesses Nearby
Explore this area
Business Placement
Demographics for 53562, WI
29,092
Population
13,617
Households
2.1
Avg Household Size
40
Median Age
65%
College-Educated
96%
High-School Grad
31.1 sq mi
ZIP Area
935
Density / Sq Mi
$97,241
Median Household Income
$60,688
Median Earnings
$1,394
Median Rent
$495,600
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Single-level living is paired with a finished lower level offering flexible recreational and office space.
Where is this residential income property located?
The property is located at 749 Cricket Lane Unit 749 Middleton, WI.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: 2,435 square feet of finished living area; Two bedrooms and two bathrooms on the main level; Finished lower level with family/game room, wet bar, office, and full bathroom
