554 W Mifflin St Madison, WI 53703
Downtown Madison NeighborhoodEstimated payment $7,016/month
Highlights
- Wood Flooring
- Eat-In Kitchen
- Family Room
- Randall Elementary School Rated A
- Forced Air Heating System
About This Home
An exceptional 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. Cap rate of 8.36% per seller.
Listing Agent
Madcityhomes.Com Brokerage Email: caleb@madcityhomes.com License #93139-94 Listed on: 05/13/2026
Co-Listing Agent
Madcityhomes.Com Brokerage Email: caleb@madcityhomes.com License #51242-90
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $12,341
Year Built
- Built in 1904
Lot Details
- 2,178 Sq Ft Lot
Parking
- 4 Open Parking Spaces
Home Design
- Vinyl Siding
Interior Spaces
- 3-Story Property
- Family Room
- Wood Flooring
- Basement Fills Entire Space Under The House
Kitchen
- Eat-In Kitchen
- Oven or Range
Schools
- Franklin/Randall Elementary School
- Hamilton Middle School
- West High School
Utilities
- Forced Air Heating System
- Separate Meters
Community Details
- 3 Units
Listing and Financial Details
- Assessor Parcel Number 0709-231-2426-1
Map
Home Values in the Area
Average Home Value in this Area
Tax History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| 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 |
|---|---|---|---|---|
| 2025 | $12,341 | $666,400 | $84,800 | $581,600 |
| 2024 | $21,480 | $611,400 | $84,800 | $526,600 |
| 2023 | $10,356 | $571,400 | $84,800 | $486,600 |
| 2022 | $21,398 | $544,200 | $80,800 | $463,400 |
| 2021 | $11,057 | $518,300 | $80,800 | $437,500 |
| 2020 | $10,047 | $450,700 | $78,400 | $372,300 |
| 2019 | $9,602 | $429,200 | $59,800 | $369,400 |
| 2018 | $9,588 | $429,200 | $59,800 | $369,400 |
| 2017 | $9,934 | $429,200 | $59,800 | $369,400 |
| 2016 | $9,720 | $408,800 | $54,400 | $354,400 |
| 2015 | $9,348 | $370,800 | $54,400 | $316,400 |
| 2014 | $8,905 | $370,800 | $54,400 | $316,400 |
| 2013 | $8,217 | $360,000 | $51,300 | $308,700 |
Property History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 08/05/2026 08/05/26 | Price Changed | $1,080,000 | -9.2% | $419 / Sq Ft | |
| 07/24/2026 07/24/26 | Price Changed | $1,189,000 | -8.2% | $461 / Sq Ft | |
| 06/10/2026 06/10/26 | Price Changed | $1,295,000 | -3.7% | $502 / Sq Ft | |
| 05/13/2026 05/13/26 | For Sale | $1,345,000 | +48.0% | $521 / Sq Ft | |
| 08/22/2025 08/22/25 | Sold | $909,000 | +1.6% | $352 / Sq Ft | View Prior Sale |
| 07/06/2025 07/06/25 | Pending | -- | -- | -- | |
| 07/02/2025 07/02/25 | For Sale | $895,000 | -- | $347 / Sq Ft |
Purchase History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $909,000 | None Listed On Document |
Mortgage History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $591,000 | New Conventional |
Source: South Central Wisconsin Multiple Listing Service
MLS Number: 2023152
APN: 0709-231-2426-1
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.
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