Residential Income Property with
For Sale
$440,000
7502 Widgeon Way, Madison, WI 53717
Ranch-style condo with finished lower-level living space, private patio access, and community amenities.
Property Size1,953 SF
Price / SF$225.29
Days on Market118
Property Features for 7502 Widgeon Way
General Information
Standard status
Active
Size
1,953 SF
Property subtype
Condo / Ranch-1 Story
Zoning
Res
Additional Details
Public Transit
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$6,818
Amenities
clubhouse
heated pool
Seller's personal property
Kitchen refrigerator, range/oven, dishwasher, microwave, all window coverings/blinds, washer & dryer
Forced air, Central air
Wood or sim. wood floors, Walk-in closet(s), Vaulted ceiling, Water softener included
Wood, Stone
Wood
Private Entry, Patio
Building Details
Year Built
1985
Construction
ranch-style
Listing Agency:
MHB Real Estate
Listed By:
Kaitlin Solomon · License #82703-94
(608) 709-9889
Source:
Compass
Added: May 10
Changed: Sep 2
Last Checked: Aug 30 at 11:36PM
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 MHB Real Estate
Investment Insights
Based on property information with market context.
This ranch-style residential income property is arranged as a condominium with a finished walkout lower level. The lower level adds a family room, full bath, and direct patio access, while the main floor features an open living arrangement with bamboo flooring, a vaulted living room ceiling, formal dining, and an eat-in kitchen. The primary suite includes a walk-in closet and private bath, and a second bedroom is positioned near another full bath. Generous storage, central air, forced-air heat, a water softener, and included kitchen and laundry appliances add practical functionality. Wood and stone exterior materials complement the private-entry design.
The property is located near a library, restaurants, shopping, and a bus line. Community amenities include maintained grounds, a clubhouse, and a heated pool. Built in 1985 and zoned Res, the residence is located at 7502 Widgeon Way in Madison, Wisconsin.
The property is located near a library, restaurants, shopping, and a bus line. Community amenities include maintained grounds, a clubhouse, and a heated pool. Built in 1985 and zoned Res, the residence is located at 7502 Widgeon Way in Madison, Wisconsin.
Key Highlights
- Finished walkout lower level with family room, full bath, and patio access
- 1953 square feet with 2 bedrooms and 3 full baths
- Primary suite includes a walk‑in closet and private bath
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
$23,956
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
5.44%
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%
$479,120
$479.1K
Cap Rate 7%
$342,229
$342.2K
Cap Rate 9%
$266,178
$266.2K
Market Conditions
NOI Build-Up for 1,953 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
$45.5K $23.28/SF
− Vacancy
−$1.9K −$0.98/SF
EGI
$43.6K $22.30/SF
− OpEx
−$19.6K −$10.04/SF
NOI
$24.0K $12.27/SF
Area
Madison, WI
Vacancy
4.20%
Lease Rate
$23.28 /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%
$479,120
Cap Rate 7%
$342,229
Cap Rate 9%
$266,178
Alternative Uses
Best Use
Apartment 5plus
$342.2K
$299.5K – $399.3K
NOI $23,956 @ 7.0% cap · market cap 5.44%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$570.5K
$499.2K – $665.6K
NOI $39,935 @ 7.0% cap · market cap 9.08%
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
1,230
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Ranch-style condo with finished lower-level living space, private patio access, and community amenities.
Where is this residential income property located?
The property is located at 7502 Widgeon Way Madison, WI.
What is the asking price?
The asking price for this property is $440,000.
What are key features of this property?
This property features: Finished walkout lower level with family room, full bath, and patio access; 1953 square feet with 2 bedrooms and 3 full baths; Primary suite includes a walk‑in closet and private bath
