Updated Residential Income
For Sale
$315,000
816 South Street, De Forest, WI 53532
Two-bedroom condominium with an attached garage, private outdoor space, and refreshed interior finishes.
Property Size1,451 SF
Price / SF$217.09
Days on Market112
Property Features for 816 South Street
General Information
Standard status
Active
Size
1,451 SF
Total Parking Spaces
2
Property subtype
Condo / Ranch-1 Story
Zoning
RES
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$3,566
Amenities
private patio
deck
cabinet in the upstairs bathroom, coat rack in hall, and the hooks in the stairwell and garage.
Refrigerator, Stove/Oven, Microwave, Dishwasher, Washer and Dryer, Water Softener, All Window Coverings.
Forced air, Central air
Wood or sim. wood floors, Walk-in closet(s), Vaulted ceiling, Washer, Dryer, Water softener included, Wet bar, At Least 1 tub
Aluminum/Steel, Brick, Stone
Electric
Private Entry, Deck/Balcony
Building Details
Year Built
1984
Construction
ranch-style
Listing Agency:
Stark Company, REALTORS
(608) 886-2259
Listed By:
Kyle Bollman · License #96882-94
(608) 886-2259
Source:
Compass
Added: May 11
Changed: Aug 29
Last Checked: Aug 29 at 10:20PM
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 Stark Company, REALTORS
Investment Insights
Based on property information with market context.
This 1,451-square-foot residential income property is configured as a ranch-style condominium with 2 bedrooms and 2 full baths. The home includes an attached 2-car garage, private entry, patio and deck space, vaulted ceilings, a walk-in closet, wet bar, and wood or simulated wood flooring. Kitchen and laundry appliances, window coverings, and a water softener are included. Forced-air heating and central air provide year-round climate control.
Built in 1984, the property has received several updates, including replacement windows, new storm doors, a newly stained deck, and professional interior painting. The residence is located in DeForest near walking paths, parks, green space, and the Interstate. RES zoning is identified for the property.
Built in 1984, the property has received several updates, including replacement windows, new storm doors, a newly stained deck, and professional interior painting. The residence is located in DeForest near walking paths, parks, green space, and the Interstate. RES zoning is identified for the property.
Key Highlights
- 1,451 SF condominium with 2 bedrooms and 2 full baths
- Attached 2‑car garage with private entry
- Replacement windows, new storm doors, stained deck, and professional interior paint
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
$11,706
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
3.72%
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%
$234,120
$234.1K
Cap Rate 7%
$167,229
$167.2K
Cap Rate 9%
$130,067
$130.1K
Market Conditions
NOI Build-Up for 1,451 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
$22.3K $15.36/SF
− Vacancy
−$1.0K −$0.69/SF
EGI
$21.3K $14.67/SF
− OpEx
−$9.6K −$6.60/SF
NOI
$11.7K $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%
$234,120
Cap Rate 7%
$167,229
Cap Rate 9%
$130,067
Alternative Uses
Best Use
Apartment 5plus
$167.2K
$146.3K – $195.1K
NOI $11,706 @ 7.0% cap · market cap 3.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$337.2K
$295.0K – $393.4K
NOI $23,603 @ 7.0% cap · market cap 7.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
55
Businesses Nearby
Explore this area
Business Placement
Demographics for 53532, WI
15,962
Population
6,375
Households
2.5
Avg Household Size
39
Median Age
43%
College-Educated
97%
High-School Grad
54.2 sq mi
ZIP Area
295
Density / Sq Mi
$110,050
Median Household Income
$56,970
Median Earnings
$1,381
Median Rent
$355,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom condominium with an attached garage, private outdoor space, and refreshed interior finishes.
Where is this residential income property located?
The property is located at 816 South Street De Forest, WI.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: 1,451 SF condominium with 2 bedrooms and 2 full baths; Attached 2‑car garage with private entry; Replacement windows, new storm doors, stained deck, and professional interior paint
