55+ Residential Income
For Sale
$625,000
Pending
7911 Courtyard Drive, Madison, WI 53719
Zero-entry access and main-level living are paired with a finished basement and two-car garage.
Property Size3,179 SF
Days on Market212
Property Features for 7911 Courtyard Drive
General Information
Standard status
Pending
Size
3,179 SF
Total Parking Spaces
2
Property subtype
Condo / Ranch-1 Story
Zoning
PD, WP-26
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$8,356
Amenities
zero entry access
vaulted ceilings
new skylights
hard surface flooring
spacious kitchen
whole house air purifier and exchanger
three season screened sunroom
main level primary suite with Safe Step Tub and tiled shower
finished basement
two utility rooms for storage
Sellers personal items and staging items.
Range/Oven, Refrigerator, Dishwasher, Microwave, Disposal, Washer, Dryer, Water Softener, garage opener(s), and pool table.
Forced air, Central air
Walk-in closet(s), Great room, Vaulted ceiling, Skylight(s), Washer, Dryer, Water softener included, Security system for Unit, Cable/Satellite Available, At Least 1 tub
Brick, Stucco, Stone
Gas
Private Entry, Deck/Balcony, Patio
Building Details
Year Built
2006
Listing Agency:
Real Broker LLC
Listed By:
Ashley Jacobs · License #81452-94
(608) 217-0537
Source:
Compass
Added: Feb 4
Changed: Sep 3
Last Checked: Aug 29 at 2:42PM
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 Real Broker LLC
Investment Insights
Based on property information with market context.
This 3,179-square-foot 55+ condominium, built in 2006, combines accessible main-level living with finished lower-level space. The open main level features vaulted ceilings, new skylights, hard-surface flooring, a spacious kitchen, and a three-season screened sunroom. The primary suite includes a Safe Step® tub and tiled shower, while two utility rooms provide additional storage. A whole-house air purifier and exchanger, forced-air heat, central air, and a water softener are included.
The property is located at 7911 Courtyard Drive on Madison’s west side, near shopping, dining, and parks. Exterior materials include brick, stucco, and stone, with a private entry, deck or balcony, patio, and attached two-car garage. The roof was replaced in June 2025, the AC dates to 2024, and the water heater was installed in 2019. A 13-month UHP Ultimate Home Warranty is included.
The property is located at 7911 Courtyard Drive on Madison’s west side, near shopping, dining, and parks. Exterior materials include brick, stucco, and stone, with a private entry, deck or balcony, patio, and attached two-car garage. The roof was replaced in June 2025, the AC dates to 2024, and the water heater was installed in 2019. A 13-month UHP Ultimate Home Warranty is included.
Key Highlights
- 3,179‑square‑foot 55+ condominium built in 2006
- Zero‑entry access with main‑level accessibility
- Finished basement with two utility rooms
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
$38,994
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
6.24%
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%
$779,880
$779.9K
Cap Rate 7%
$557,057
$557.1K
Cap Rate 9%
$433,267
$433.3K
Market Conditions
NOI Build-Up for 3,179 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
$74.0K $23.28/SF
− Vacancy
−$3.1K −$0.98/SF
EGI
$70.9K $22.30/SF
− OpEx
−$31.9K −$10.04/SF
NOI
$39.0K $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%
$779,880
Cap Rate 7%
$557,057
Cap Rate 9%
$433,267
Alternative Uses
Best Use
Apartment 5plus
$557.1K
$487.4K – $649.9K
NOI $38,994 @ 7.0% cap · market cap 6.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$928.6K
$812.6K – $1.08M
NOI $65,004 @ 7.0% cap · market cap 10.40%
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
457
Businesses Nearby
Explore this area
Business Placement
Demographics for 53719, WI
32,151
Population
16,160
Households
2
Avg Household Size
35
Median Age
61%
College-Educated
96%
High-School Grad
10.2 sq mi
ZIP Area
3,152
Density / Sq Mi
$92,223
Median Household Income
$59,334
Median Earnings
$1,429
Median Rent
$349,300
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Zero-entry access and main-level living are paired with a finished basement and two-car garage.
Where is this residential income property located?
The property is located at 7911 Courtyard Drive Madison, WI.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: 3,179‑square‑foot 55+ condominium built in 2006; Zero‑entry access with main‑level accessibility; Finished basement with two utility rooms
