Residential Income Property with Finished Lower
For Sale
$499,900
9801 Hawks Nest Drive, Verona, WI 53593
Stand-alone ranch condo with open living areas, a primary suite, deck access, and a finished lower level.
Property Size2,149 SF
Price / SF$232.62
Days on Market131
Property Features for 9801 Hawks Nest Drive
General Information
Standard status
Active
Size
2,149 SF
Property subtype
Condo / Ranch-1 Story
Zoning
R4
Taxes and HOA fees
Annual Taxes
$8,716
Amenities
Basement Freezer
Refrigerator, Dishwasher, Range/Oven, Microwave, Washer, Dryer, Water Softener, Radon Mitigation System, Living Room Tv Mount
Forced air, Central air
Wood or sim. wood floors, Walk-in closet(s), Water softener included, Cable/Satellite Available, At Least 1 tub
Vinyl, Brick, Stone
Gas
Private Entry, Deck/Balcony
Building Details
Year Built
2016
Listing Agency:
RE/MAX Preferred
(608) 516-7253
Listed By:
Stacy Baumgartner · License #86259-94
(608) 516-7253
Source:
Compass
Added: Apr 22
Changed: Aug 30
Last Checked: Aug 30 at 3:21AM
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 Preferred
Investment Insights
Based on property information with market context.
This stand-alone ranch condo combines an open main-level layout with additional finished space below. The kitchen includes an oversized island, granite countertops, a large pantry, gas range, upgraded sink and faucet, and adjoining everyday living space with a programmable gas fireplace. The main floor also provides a primary suite with a walk-in closet and private bath, laundry, and access to a deck.
The finished lower level includes a third bedroom, a large family room, and separate storage. Interior features include wood or simulated wood flooring, tile flooring, a tiled primary shower, Corian bathroom countertops, central air, forced air heat, water softener, radon mitigation system, and smart home features. The property was built in 2016 and is zoned R4.
Located at 9801 Hawks Nest Drive in Verona, the home is in the Hawks Woods neighborhood and within walking distance of Hawks Landing Golf Course and a neighborhood park.
The finished lower level includes a third bedroom, a large family room, and separate storage. Interior features include wood or simulated wood flooring, tile flooring, a tiled primary shower, Corian bathroom countertops, central air, forced air heat, water softener, radon mitigation system, and smart home features. The property was built in 2016 and is zoned R4.
Located at 9801 Hawks Nest Drive in Verona, the home is in the Hawks Woods neighborhood and within walking distance of Hawks Landing Golf Course and a neighborhood park.
Key Highlights
- Stand‑alone ranch condo in the Hawks Woods neighborhood
- 2,149 property size built in 2016
- Finished lower level with third bedroom, family room, and separate storage
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
$17,338
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
3.47%
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%
$346,760
$346.8K
Cap Rate 7%
$247,686
$247.7K
Cap Rate 9%
$192,644
$192.6K
Market Conditions
NOI Build-Up for 2,149 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
$33.0K $15.36/SF
− Vacancy
−$1.5K −$0.69/SF
EGI
$31.5K $14.67/SF
− OpEx
−$14.2K −$6.60/SF
NOI
$17.3K $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%
$346,760
Cap Rate 7%
$247,686
Cap Rate 9%
$192,644
Alternative Uses
Best Use
Apartment 5plus
$247.7K
$216.7K – $289.0K
NOI $17,338 @ 7.0% cap · market cap 3.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$499.4K
$437.0K – $582.6K
NOI $34,957 @ 7.0% cap · market cap 6.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
46
Businesses Nearby
Explore this area
Business Placement
Demographics for 53593, WI
28,232
Population
12,583
Households
2.2
Avg Household Size
37
Median Age
68%
College-Educated
99%
High-School Grad
76.2 sq mi
ZIP Area
370
Density / Sq Mi
$135,699
Median Household Income
$74,356
Median Earnings
$1,530
Median Rent
$464,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Stand-alone ranch condo with open living areas, a primary suite, deck access, and a finished lower level.
Where is this residential income property located?
The property is located at 9801 Hawks Nest Drive Verona, 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: Stand‑alone ranch condo in the Hawks Woods neighborhood; 2,149 property size built in 2016; Finished lower level with third bedroom, family room, and separate storage
