Building Details

Year Built 1988

Units 2

Listing Agency: Equity Real Estate Group, LLC

Listed By: Olta Shabani · License #96782-94 Show Phone

Source: Compass

Added: Mar 26 Changed: Sep 2 Last Checked: Sep 4 at 5:16PM

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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 Equity Real Estate Group, LLC

Investment Insights

Based on property information with market context.

This duplex contains 2,152 square feet across two residential units. The first unit includes three bedrooms, one bathroom, and a two-car attached garage; the second offers two bedrooms, one bathroom, and a one-car attached garage. Both units feature vinyl exteriors, poured concrete foundations, natural gas service, and forced-air heating. Kitchen appliances, two washers, and two dryers are included.

Constructed in 1988 and zoned R, the property is located in Hazel Green with access to Dubuque and Platteville. Its two-unit configuration supports separate household occupancy within one residential property.

Key Highlights

• 2,152‑square‑foot duplex built in 1988
• Unit 1 has 3 bedrooms, 1 bathroom, and a 2‑car attached garage
• Unit 2 has 2 bedrooms, 1 bathroom, and a 1‑car attached garage

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

$18,874

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

5.57%

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%

$377,480 $377.5K

Cap Rate 7%

$269,629 $269.6K

Cap Rate 9%

$209,711 $209.7K

Market Conditions

NOI Build-Up for 2,152 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

$29.2K $13.56/SF

− Vacancy

−$2.2K −$1.03/SF

EGI

$27.0K $12.53/SF

− OpEx

−$8.1K −$3.76/SF

NOI

$18.9K $8.77/SF

Area

Grant County, WI

Vacancy

7.60%

Lease Rate

$13.56 /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%

$377,480

Cap Rate 7%

$269,629

Cap Rate 9%

$209,711

Alternative Uses

Best Use

Multifamily LT 5

$269.6K

$235.9K – $314.6K (±1% cap)

NOI $18,874 @ 7.0% cap · market cap 5.57%

Second Best

Apartment 5plus

$248.3K

$217.2K – $289.7K (±1% cap)

NOI $17,379 @ 7.0% cap · market cap 5.13%

Theoretical Best

Office A

$595.8K

$521.3K – $695.1K (±1% cap)

NOI $41,704 @ 7.0% cap · market cap 12.30%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Duplexes

Suggested Use

Top Pick Storage Facility Restaurant Discount Store Hotel & Motel Car Rental Facility Bar & Pub

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

18

Businesses Nearby

Explore this area Business Placement

Demographics for 53811, WI

3,213

Population

1,401

Households

2.3

Avg Household Size

46

Median Age

29%

College-Educated

93%

High-School Grad

47.1 sq mi

ZIP Area

68

Density / Sq Mi

$79,531

Median Household Income

$45,162

Median Earnings

$908

Median Rent

$219,300

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Duplex - Two-unit residential property with attached garages, natural gas, forced-air heating, and included kitchen appliances.

Where is this duplex located?

The property is located at 959 Whispering Lane Hazel Green, WI.

What is the asking price?

The asking price for this property is $339,000.

What are key features of this property?

This property features: 2,152‑square‑foot duplex built in 1988; Unit 1 has 3 bedrooms, 1 bathroom, and a 2‑car attached garage; Unit 2 has 2 bedrooms, 1 bathroom, and a 1‑car attached garage