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4106 Winnemac Ave
Madison, WI

4106 Winnemac Ave

$444,300
2 bd • 2 ba • 953 sf

This analysis was generated by artificial intelligence on 1/24/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.

List Price

$444,300

Price/Sq.Ft

$466

Year Built

AI Property Analysis

A comprehensive evaluation of this property's features, market position, and investment potential.

The Good

The property at 4106 Winnemac Ave, Madison, WI 53711 offers several positive aspects. At $444,300, it's priced competitively at $466.21/sqft, which is below the median price for similar properties in the area. The location is a significant advantage, situated in a desirable neighborhood of Madison. With 2 bedrooms and 2 bathrooms in 953 sqft, it provides an efficient use of space. The property's price point aligns well with the median income of $91,334 in the area, making it potentially affordable for many local buyers. Current rental rates for a two-bedroom in Madison average $1,378/month, suggesting a potential gross rental yield of about 3.7% if used as an investment property.

The Bad

The property's small size at 953 sqft is below average for the area, which may limit its appeal to some buyers. The lack of detailed information about features, utilities, and systems is concerning and may indicate potential hidden issues or necessary upgrades. The unknown year built could be a red flag, potentially signaling an older home with higher maintenance costs. The absence of a property description and room details makes it difficult to assess the overall condition and any recent improvements.

The Ugly

The property's age, if significantly old, could mean imminent major system replacements such as roofing, plumbing, or electrical, potentially costing $20,000-$30,000 in the near future. The lack of information about utilities and systems is particularly concerning, as it could hide inefficient heating/cooling systems or outdated electrical wiring, leading to high energy costs or safety risks. Madison's cold winters could exacerbate any insulation or heating system issues, potentially resulting in uncomfortably high utility bills. The property's small size might make it challenging to add value through renovations or expansions, potentially limiting long-term appreciation.

Who is this property for?

These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.

Best For

This property is best suited for first-time homebuyers or young professionals with household incomes around $90,000-$110,000, aligning with the area's median income. It's ideal for singles or couples who prioritize location over space and are comfortable with a cozy living arrangement. Investors looking for a rental property in a strong market could also find this attractive, given Madison's competitive real estate landscape and the property's potential for steady rental income.

Not For

This property is not suitable for larger families needing 3+ bedrooms or more than 1,000 sqft of living space. It's also not ideal for buyers seeking a move-in ready home with modern amenities, given the lack of information about its features and potential need for updates. Luxury home buyers or those requiring high-end finishes would likely find this property lacking. Additionally, it may not be suitable for those with limited mobility, as the property's age and potential layout could present accessibility challenges.
Demographics
Area Median Income

$91,334

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Risk Assessment

Risk Analysis

The unknown build year poses a significant risk, potentially hiding structural issues or outdated systems. Madison's cold climate could exacerbate any existing insulation or heating system problems, leading to high energy costs. The property's location may be in a flood-prone area, given Madison's proximity to lakes, necessitating flood insurance. Radon, a common issue in Wisconsin homes, may require testing and mitigation. The competitive nature of Madison's real estate market could lead to overbidding, potentially resulting in overpaying for the property. Future student housing developments could impact property values and neighborhood dynamics, given the influence of the University of Wisconsin-Madison on the local real estate market.

Financials

Monthly Costs
Market Rent (2 bed)

$1,378

Get a detailed rental estimate on Zillow®

Location & Comparables

Subject Property
Comparable Sales
View on Zillow

Stats in the Area

Average Price

$477,000

7.4% above list price

Median Price

$545,000

Based on 2 recent sales

Price per Sq.Ft

$440

Comparable Properties

4718 Tokay Boulevard, Madison, WI 53711
Price: $409,000
Sq.Ft: 1,054
Beds/Baths: 2/1
$/Sq.Ft:
$38816.8%
Sale Date: 11/14/2024
2421 Chamberlain Avenue, Madison, WI 53726
Price: $545,000
Sq.Ft: 1,106
Beds/Baths: 3/1
$/Sq.Ft:
$4935.7%
Sale Date: 9/27/2024

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