Duplex-Style Income Property with Private
For Sale
$575,000
9106 Waterside Street, Middleton, WI 53562
Condo-style residence with vaulted ceilings, private access, and association-maintained exterior and lawn.
Property Size2,611 SF
Price / SF$220.22
Days on Market231
Property Features for 9106 Waterside Street
General Information
Standard status
Active
Size
2,611 SF
Property subtype
Condo / Ranch-1 Story
Zoning
SR-C3
Taxes and HOA fees
Annual Taxes
$8,597
Amenities
Seller's Personal Property
Refrigerator, Microwave, Dishwasher, Oven/Range, Washer & Dryer, Water Softener
Forced air, Central air
Wood or sim. wood floors, Walk-in closet(s), Great room, Vaulted ceiling, Skylight(s), Washer, Dryer, Water softener included, At Least 1 tub
Brick, Stone, Vinyl
1 fireplace, Gas
Patio, Private Entry
Building Details
Year Built
2002
Listing Agency:
First Weber Inc
(608) 469-7377
Listed By:
Krista Potter · License #93098-94
(608) 469-7377
Source:
Compass
Added: Jan 11
Changed: Aug 29
Last Checked: Aug 29 at 3:38PM
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 First Weber Inc
Investment Insights
Based on property information with market context.
This 2,611 SF duplex-style condominium, built in 2002, offers a private entry and a layout designed to function like a single-family home. The interior includes a primary suite, great room, vaulted ceiling, skylights, wood or simulated wood flooring, and a walk-in closet. A fireplace, patio, central air, and forced-air heating add to the property’s residential features. The kitchen includes a refrigerator, microwave, dishwasher, and oven/range, with a washer, dryer, and water softener also included.
The property is part of a six-unit community and is located near the 1,200-acre Pope Farm Conservancy and Greenway Station. It is within the Middleton-Cross Plains School District and associated with Pope Farm Elementary. The association handles exterior and lawn maintenance. Zoning is SR-C3.
The property is part of a six-unit community and is located near the 1,200-acre Pope Farm Conservancy and Greenway Station. It is within the Middleton-Cross Plains School District and associated with Pope Farm Elementary. The association handles exterior and lawn maintenance. Zoning is SR-C3.
Key Highlights
- 2,611 SF duplex‑style condominium in a six‑unit community
- Built in 2002 with private entry and patio
- Vaulted ceiling, skylights, great room, and walk‑in closet
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
$21,065
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
3.66%
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%
$421,300
$421.3K
Cap Rate 7%
$300,929
$300.9K
Cap Rate 9%
$234,056
$234.1K
Market Conditions
NOI Build-Up for 2,611 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
$40.1K $15.36/SF
− Vacancy
−$1.8K −$0.69/SF
EGI
$38.3K $14.67/SF
− OpEx
−$17.2K −$6.60/SF
NOI
$21.1K $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%
$421,300
Cap Rate 7%
$300,929
Cap Rate 9%
$234,056
Alternative Uses
Best Use
Apartment 5plus
$300.9K
$263.3K – $351.1K
NOI $21,065 @ 7.0% cap · market cap 3.66%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$606.7K
$530.9K – $707.9K
NOI $42,472 @ 7.0% cap · market cap 7.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
126
Businesses Nearby
Explore this area
Business Placement
Demographics for 53562, WI
29,092
Population
13,617
Households
2.1
Avg Household Size
40
Median Age
65%
College-Educated
96%
High-School Grad
31.1 sq mi
ZIP Area
935
Density / Sq Mi
$97,241
Median Household Income
$60,688
Median Earnings
$1,394
Median Rent
$495,600
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Condo-style residence with vaulted ceilings, private access, and association-maintained exterior and lawn.
Where is this residential income property located?
The property is located at 9106 Waterside Street Middleton, WI.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: 2,611 SF duplex‑style condominium in a six‑unit community; Built in 2002 with private entry and patio; Vaulted ceiling, skylights, great room, and walk‑in closet
