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554 W Mifflin St 3 Unit Apartment Building $1,080,000 ($360,000/Unit) 8.36% Cap Rate Madison, WI 53703
Executive Summary
A student opportunity in downtown Madison, WI, this 3-unit, 9-bedroom is the closest house on Mifflin to campus with great southern light, full front decks, and rear exit decks. Each unit in this turn-key property is leased thru 08/2027 and offers a spacious and practical layout, including a full kitchen, three bedrooms, one bathroom, and a comfortable living area. Tenants appreciate the updated basement with storage and laundry. Additional income is generated through four on-site parking spaces. Tenants are responsible for electricity, garbage/recycling, cleaning, and snow removal. With gross income of $108,900 for 2026/2027 and several rents below market, a new buyer has the potential to earn an even greater return on their investment through future lease adjustments. Buyer broker fee available
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Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$104,100
|
$40.35
|
| Other Income |
$4,800
|
$1.86
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$108,900
|
$42.21
|
| Net Operating Income |
-
|
-
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $104,100 |
| Annual Per SF | $40.35 |
| Other Income | |
|---|---|
| Annual | $4,800 |
| Annual Per SF | $1.86 |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $108,900 |
| Annual Per SF | $42.21 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+1 | 3 | - | - |
1 1
Exceptionally walkable
90/100
Somewhat drivable
30/100
Good public transit
70/100
Very bikeable
80/100
Property Taxes
| Parcel Number | 0709-231-2426-1 | Improvements Assessment | $581,600 |
| Land Assessment | $84,800 | Total Assessment | $666,400 |
Property Taxes
Parcel Number
0709-231-2426-1
Land Assessment
$84,800
Improvements Assessment
$581,600
Total Assessment
$666,400
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554 W Mifflin St