For sale

$650,000

126 N Franklin St, Madison, WI 53703

5beds

1,742sqft

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Single Family Residence

Built in 1889

3,484 Square Feet Lot

$620,900 Zestimate^®

$373/sqft

$-- HOA

What's special

Income properties this close to downtown Madison rarely pencil this well. Just around the corner from James Madison Park, this 5-bed, 2-bath rental is consistently easy to lease thanks to its unbeatable location near campus, downtown restaurants, nightlife, and the lake. Currently rented at $4,295/month with projected rents up to $4,750/month, there’s immediate upside for the next owner. The property has been well maintained with mostly vinyl windows, 2 parking spaces plus a moped spot, and very little yard maintenance. Tenants cover all expenses, making this an attractive low-maintenance investment opportunity with strong returns. Also available as part of the 120–126 N Franklin portfolio, offering a rare opportunity to acquire a side-by-side 27-bedroom investment property with significant long-term upside and future redevelopment potential.

29 days

714

33

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Facts & features

Interior

Bedrooms & bathrooms

Bedrooms: 5
Bathrooms: 2
Full bathrooms: 2
Main level bathrooms: 1

Primary bedroom

Level: Main
Area: 130
Dimensions: 13 x 10

Bedroom 2

Level: Upper
Area: 156
Dimensions: 12 x 13

Bedroom 3

Level: Main
Area: 143
Dimensions: 13 x 11

Bedroom 4

Level: Upper
Area: 130
Dimensions: 13 x 10

Bedroom 5

Level: Upper
Area: 105
Dimensions: 7 x 15

Kitchen

Level: Main
Area: 143
Dimensions: 13 x 11

Living room

Level: Main
Area: 143
Dimensions: 11 x 13

Cooling

Window Unit(s)

Features

Other
Basement: Full,Unfinished
Has fireplace: No

Interior area

Total structure area: 1,742
Total interior livable area: 1,742 sqft
Finished area above ground: 1,742

Property

Parking

Parking features: No Garage
Has uncovered spaces: Yes

Features

Levels: One and One Half
Stories: 1.5

Lot

Size: 3,484 Square Feet

Details

Parcel number: 070913321273
Zoning: DR1

Construction

Type & style

Home type: SingleFamily
Architectural style: Cape Cod
Property subtype: Single Family Residence

Materials

Wood Siding

Condition

Year built: 1889

Utilities & green energy

Sewer: Public Sewer
Water: Public

Community & HOA

Location

Region: Madison

Financial & listing details

Price per square foot: $373/sqft
Tax assessed value: $329,300
Annual tax amount: $6,144
Date on market: 6/5/2026
Inclusions: All appliances, washing machines, dryers, water heaters, water softeners, window coverings
Exclusions: Seller and Tenant Personal Property

Estimated market value

$620,900

$590,000 - $652,000

$3,916/mo

Price history

Date	Event	Price
5/19/2026	Listed for sale	$650,000+251.4%$373/sqft
Source: WIREX MLS #2023674 Report a problem
11/7/2025	Listing removed	$4,249$2/sqft
Source: Zillow Rentals Report a problem
9/17/2025	Listed for rent	$4,249+6.4%$2/sqft
Source: Zillow Rentals Report a problem
10/1/2024	Listing removed	$3,995$2/sqft
Source: Zillow Rentals Report a problem
9/16/2024	Listed for rent	$3,995+1.1%$2/sqft
Source: Zillow Rentals Report a problem
7/30/2024	Listing removed	--
Source: Zillow Rentals Report a problem
6/18/2024	Listed for rent	$3,950$2/sqft
Source: Zillow Rentals Report a problem
6/10/2024	Listing removed	--
Source: Zillow Rentals Report a problem
4/2/2024	Listed for rent	$3,950+11.3%$2/sqft
Source: Zillow Rentals Report a problem
4/12/2023	Listing removed	--
Source: Zillow Rentals Report a problem
3/22/2023	Listed for rent	$3,550+39.2%$2/sqft
Source: Zillow Rentals Report a problem
2/2/2020	Listing removed	$2,550$1/sqft
Source: Isthmus RPM Report a problem
11/16/2019	Listed for rent	$2,550+4.1%$1/sqft
Source: Zillow Rental Manager Report a problem
4/12/2019	Listing removed	$2,450$1/sqft
Source: Isthmus RPM Report a problem
4/11/2019	Listed for rent	$2,450$1/sqft
Source: Isthmus RPM Report a problem
4/6/2016	Sold	$185,000-11.9%$106/sqft
Source: Public Record Report a problem
2/25/2011	Listing removed	$210,000$121/sqft
Source: ShoreWest Realtors #1585451 Report a problem
8/14/2010	Listed for sale	$210,000+7.7%$121/sqft
Source: ShoreWest Realtors #1585451 Report a problem
8/2/2006	Sold	$195,000$112/sqft
Source: Public Record Report a problem

Public tax history

Year	Property taxes	Tax assessment
2024	$5,861 +4.9%	$299,400 +8%
2023	$5,585	$277,200 +6%
2022	--	$261,500 +15%
2021	--	$227,400 +3%
2020	--	$220,800
2019	$4,066	$220,800 +20%
2018	$4,066 -3.5%	$184,000
2017	$4,214 -14.5%	$184,000
2016	$4,927 -0.1%	$184,000 -11%
2014	$4,930 +11.5%	$206,700 +6%
2013	$4,423 -4.7%	$195,000
2012	$4,643 +5.1%	$195,000
2011	$4,416 +3.6%	$195,000
2010	$4,262 +8.2%	$195,000
2009	$3,939 +4.8%	$195,000
2008	$3,758 -1.9%	$195,000
2007	$3,831 +1.5%	$195,000 +1.8%
2006	$3,775 +4.3%	$191,600 +10%
2005	$3,621 +2.7%	$174,200 +10%
2004	$3,524 +5.6%	$158,400
2003	$3,338 +5.2%	$158,400 +17.2%
2002	$3,172 +9.7%	$135,200 +15%
2001	$2,891 +6.9%	$117,600 +10%
2000	$2,705	$106,900

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HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.

Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.

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