3722 W Karstens Dr Madison, WI 53704
Lerdahl Park NeighborhoodEstimated payment $7,813/month
About This Home
Rare opportunity to purchase a Madison investment property that actually makes money!!! This 8 unit property is all 2 bed/1 bath apartments with current rents ranging between $1,410-$1,600. As of the date of listing, there is one vacancy. Current actual rent roll results in over $125K in gross income. By filling the one vacancy, another $18K in revenue can be easily added. Landlord currently includes heat & water in rent. Tenant's pay their own electric. Current owner self manages.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $14,911
Year Built
- Built in 1971
Home Design
- Brick Exterior Construction
- Poured Concrete
- Vinyl Siding
Parking
- 12 Open Parking Spaces
- Outside Parking
Schools
- Call School District Elementary And Middle School
- Call School District High School
Utilities
- Radiant Heating System
- Separate Meters
Additional Features
- Basement Fills Entire Space Under The House
- 0.38 Acre Lot
Community Details
- 8 Units
Listing and Financial Details
- Assessor Parcel Number 080926406144
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2024 | $29,822 | $847,000 | $55,000 | $792,000 |
| 2023 | $13,986 | $770,000 | $55,000 | $715,000 |
| 2021 | $11,623 | $540,000 | $52,000 | $488,000 |
| 2020 | $11,492 | $515,000 | $52,000 | $463,000 |
| 2019 | $10,974 | $490,000 | $52,000 | $438,000 |
| 2018 | $10,358 | $463,400 | $52,000 | $411,400 |
| 2017 | $9,752 | $421,400 | $52,000 | $369,400 |
| 2016 | $9,111 | $383,400 | $47,000 | $336,400 |
| 2015 | $7,162 | $285,000 | $47,000 | $238,000 |
| 2014 | $6,827 | $285,000 | $47,000 | $238,000 |
| 2013 | $6,305 | $277,000 | $47,000 | $230,000 |
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 07/07/2025 07/07/25 | Price Changed | $1,200,000 | +14.3% | $413 / Sq Ft |
| 06/18/2025 06/18/25 | For Sale | $1,050,000 | +37.3% | $362 / Sq Ft |
| 06/15/2021 06/15/21 | Sold | $765,000 | -4.4% | $225 / Sq Ft |
| 04/28/2021 04/28/21 | Pending | -- | -- | -- |
| 04/23/2021 04/23/21 | For Sale | $800,000 | +4.6% | $235 / Sq Ft |
| 04/14/2021 04/14/21 | Off Market | $765,000 | -- | -- |
| 04/12/2021 04/12/21 | For Sale | $800,000 | -- | $235 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $2,330,000 | First American Title | |
| Warranty Deed | $1,555,000 | None Available | |
| Warranty Deed | $1,150,000 | First American Title Ins Co |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $1,864,000 | Commercial | |
| Previous Owner | $170,000 | Commercial | |
| Previous Owner | $1,244,000 | Commercial | |
| Previous Owner | $306,667 | Commercial |
Source: South Central Wisconsin Multiple Listing Service
MLS Number: 2002505
APN: 0809-264-0614-4
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