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.
Active
$650,000
126 N Franklin St, Madison, WI 53703
5beds
1,742sqft
Single Family Residence
Built in 1889
3,484 Square Feet Lot
$618,800 Zestimate®
$373/sqft
$-- HOA
What's special
- --
- on Zillow |
- 471
- views |
- 20
- saves |
Zillow last checked:
Listing updated:
Listed by:
Imani Jones,
EXIT Realty HGM
Source: SCWMLS,MLS#: 2023674
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: 5/19/2026
- Inclusions: All appliances, washing machines, dryers, water heaters, water softeners, window coverings
- Exclusions: Seller and Tenant Personal Property
Estimated market value
$618,800
$588,000 - $650,000
$3,105/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 |
Find assessor info on the county website
Monthly payment
Est. payment
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.Climate risks
Neighborhood: Capitol
Nearby schools
GreatSchools rating
- NALapham Elementary SchoolGrades: PK-2Distance: 0.7 mi
- 8/10O'keeffe Middle SchoolGrades: 6-8Distance: 1.3 mi
- 8/10East High SchoolGrades: 9-12Distance: 1.8 mi
Schools provided by the listing agent
- Elementary: Lapham/Marquette
- Middle: OKeeffe
- High: East
- District: Madison
Source: SCWMLS. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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A local agent can set up tours, give advice and negotiate with sellers.
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