Two-Unit Residential Income
811 North Street Madison, WI 53704
For Sale
$450,000
Well-maintained two-flat with updated windows, kitchen and bathroom improvements, hardwood floors, and a detached two-car garage.
Property Size1,913 SF
Price / SF$235.23
Days on Market105
Property Features for 811 North Street
General Information
Standard status
Active
Size
1,913 SF
Property subtype
Multi Family / 2 flat-up and down
Building Details
Year Built
1938
Listing Agency:
Restaino & Associates
(608) 576-9405
Listed By:
Ronda Thompson · License #52190-90
(608) 576-9405
Source:
Compass
Added: Apr 15
Changed: Jul 21
Last Checked: Jul 21 at 2:59PM
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 Restaino & Associates
Investment Insights
Based on property information with market context.
This well-maintained two-flat residential income property offers a solid setup for both owner-occupants and investors. The home features newer windows, kitchen improvements, and bathroom updates completed over the past 10 years, along with hardwood floors. Updates also include a roof replacement in 2009 and the addition of drain tile and a sump pump in 2023. Spectrum internet is available, and both units have been consistently rented.
Set on an oversized yard with room for outdoor use, the property includes a detached two-car garage. It is located near a bus line with easy access to the airport, MATC, Interstate, and downtown Madison. The property sits directly across from Eken Park, in a well-established neighborhood.
Showings begin 4pm on 4/17, and 24-hour notice is required. The upper unit address is listed as 2501 Coolidge St. Owners pay approximately $100/month for water and sewer.
Set on an oversized yard with room for outdoor use, the property includes a detached two-car garage. It is located near a bus line with easy access to the airport, MATC, Interstate, and downtown Madison. The property sits directly across from Eken Park, in a well-established neighborhood.
Showings begin 4pm on 4/17, and 24-hour notice is required. The upper unit address is listed as 2501 Coolidge St. Owners pay approximately $100/month for water and sewer.
Key Highlights
- Two‑flat built in 1938 with a full, poured concrete basement.
- Recent updates include roof replacement in 2009 and drain tile & sump pump added in 2023.
- Interior includes hardwood floors and forced‑air natural gas heating; exterior is aluminum/steel.
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $37.9k | $19.80 |
| − Vacancy | −$1.7k | −$0.89 |
| EGI | $36.2k | $18.91 |
| − OpEx | −$10.9k | −$5.67 |
| NOI | $25.3k | $13.24 |
1,913 SF · lease $19.80/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$361.7K
$316.5K – $422.0K
NOI $25,321 @ 7.0% cap · market cap 5.63%
Second Best
Apartment 5plus
$335.2K
$293.3K – $391.1K
NOI $23,465 @ 7.0% cap · market cap 5.21%
Theoretical Best
Office A
$558.8K
$489.0K – $652.0K
NOI $39,117 @ 7.0% cap · market cap 8.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained two-flat with updated windows, kitchen and bathroom improvements, hardwood floors, and a detached two-car garage.
Where is this duplex located?
The property is located at 811 North Street Madison, WI.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Two‑flat built in 1938 with a full, poured concrete basement.; Recent updates include roof replacement in 2009 and drain tile & sump pump added in 2023.; Interior includes hardwood floors and forced‑air natural gas heating; exterior is aluminum/steel.
