Four-Unit Apartment
For Sale
$499,900
801 Teutonia Drive, Burlington, WI 53105
Quadplex with four two-bedroom, one-bath units, each with basement storage and washer/dryer, plus a one-car garage per unit.
Property Size3,612 SF
Price / SF$138.40
Days on Market157
Property Features for 801 Teutonia Drive
General Information
Standard status
Active
Size
3,612 SF
Property subtype
Multi-Family / Multi-Family
Additional Details
Multifamily Units
4
Amenities
Full, Yes
Low Maintenance Trim, Brick
Building Details
Year Built
1978
Tenancy
Multi
Listing Agency:
RE/MAX Premier Properties
(262) 325-8084
Listed By:
Kyle Ketterhagen · License #92109-94
(262) 325-8084
Source:
Compass
Added: Mar 4
Changed: Aug 8
Last Checked: Jul 22 at 11:58PM
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 RE/MAX Premier Properties
Investment Insights
Based on property information with market context.
This four-unit apartment building includes four two-bedroom, one-bath units. The property has a full basement with storage for each unit, caged off for convenience, and washer/dryer facilities provided for each unit. A one-car garage is included for each unit, along with a concrete driveway that offers space for an additional vehicle.
The building is located on a dead-end, quiet road in southeastern Wisconsin. Several major components have been updated over recent years, including remodeled bathrooms completed within the last 10–15 years, a roof estimated to be 10–15 years old, furnaces and A/C units estimated around 12–15 years old, and water heaters replaced as needed.
The upstairs units’ balconies and patios were redone with rubber roofing, new flashing, and composite decking, along with patio doors installed approximately 5–10 years ago. All square footage and dimensions are estimates, and the buyer should complete due diligence.
The building is located on a dead-end, quiet road in southeastern Wisconsin. Several major components have been updated over recent years, including remodeled bathrooms completed within the last 10–15 years, a roof estimated to be 10–15 years old, furnaces and A/C units estimated around 12–15 years old, and water heaters replaced as needed.
The upstairs units’ balconies and patios were redone with rubber roofing, new flashing, and composite decking, along with patio doors installed approximately 5–10 years ago. All square footage and dimensions are estimates, and the buyer should complete due diligence.
Key Highlights
- Quadplex built in 1978 with four 2‑bedroom, 1‑bath units.
- Each unit has full basement storage (caged off) and in‑unit washer/dryer.
- Low‑maintenance exterior with brick and low maintenance trim.
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
$39,404
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
7.88%
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%
$788,080
$788.1K
Cap Rate 7%
$562,914
$562.9K
Cap Rate 9%
$437,822
$437.8K
Market Conditions
NOI Build-Up for 3,612 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
$58.5K $16.20/SF
− Vacancy
−$2.2K −$0.62/SF
EGI
$56.3K $15.58/SF
− OpEx
−$16.9K −$4.68/SF
NOI
$39.4K $10.91/SF
Area
Racine County, WI
Vacancy
3.80%
Lease Rate
$16.20 /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%
$788,080
Cap Rate 7%
$562,914
Cap Rate 9%
$437,822
Alternative Uses
Best Use
Multifamily LT 5
$562.9K
$492.6K – $656.7K
NOI $39,404 @ 7.0% cap · market cap 7.88%
Second Best
Apartment 5plus
$490.4K
$429.1K – $572.1K
NOI $34,328 @ 7.0% cap · market cap 6.87%
Theoretical Best
Office A
$868.6K
$760.0K – $1.01M
NOI $60,803 @ 7.0% cap · market cap 12.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
85
Businesses Nearby
Explore this area
Business Placement
Demographics for 53105, WI
29,654
Population
12,995
Households
2.3
Avg Household Size
44
Median Age
28%
College-Educated
94%
High-School Grad
159.5 sq mi
ZIP Area
186
Density / Sq Mi
$88,798
Median Household Income
$48,254
Median Earnings
$1,029
Median Rent
$295,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Quadplex with four two-bedroom, one-bath units, each with basement storage and washer/dryer, plus a one-car garage per unit.
Where is this quadplex located?
The property is located at 801 Teutonia Drive Burlington, WI.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: Quadplex built in 1978 with four 2‑bedroom, 1‑bath units.; Each unit has full basement storage (caged off) and in‑unit washer/dryer.; Low‑maintenance exterior with brick and low maintenance trim.
