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.
Sold for $1,175,000
$1,175,000
3722 W Karstens Dr, Madison, WI 53704
8beds
2,904sqft
Apartment
Built in 1971
-- sqft lot
$1,210,800 Zestimate®
$405/sqft
$1,528 Estimated rent
Home value
$1,210,800
$1.14M - $1.30M
$1,528/mo
Zestimate® history
Owner options
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$1,528/mo
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$1,528/mo
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$6,417/mo
Est. payment
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$6,417/mo
Est. payment
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Zillow last checked:
Listing updated:
Listed by:
The Hub Team,
The Hub Realty,
Kyle Ebley,
Realty Executives Cooper Spransy
Bought with:
Julian Walters, 91567-94
Realty of America, LLC
Source: SCWMLS,MLS#: 2002505
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 8
- Bathrooms: 4
- Full bathrooms: 4
Heating
- Natural Gas, Radiant
Features
- Basement: Full
Interior area
- Total structure area: 2,904
- Total interior livable area: 2,904 sqft
Property
Parking
- Total spaces: 12
- Parking features: Outside
- Details: Outside
Lot
- Size: 0.38 Acres
Details
- Parcel number: 080926406144
- Zoning: SR-V1
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Apartment
Materials
- Brick, Vinyl Siding
- Foundation: Poured concrete foundatn
Condition
- Year built: 1971
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
- Utilities for property: Separate elec meters
Community & HOA
Location
- Region: Madison
Financial & listing details
- Price per square foot: $405/sqft
- Tax assessed value: $906,300
- Annual tax amount: $14,911
- Date on market: 6/19/2025
- Listing terms: Arms Length
- Inclusions: 8 refrigerators, 8 oven/stoves, 8 in wall A/C's, boiler, water heater(s), water softener
- Exclusions: Tenant's personal property
- Total actual rent: 71040
Price history
| Date | Event | Price |
|---|---|---|
| 8/18/2025 | Sold | $1,175,000-2.1%$405/sqft |
Source: Public Record Report a problem | ||
| 7/7/2025 | Contingent | $1,200,000+14.3%$413/sqft |
Source:  WIREX MLS #2002505 Report a problem | ||
| 6/20/2025 | Listed for sale | $1,050,000$362/sqft |
Source: WIREX MLS #2002505 Report a problem | ||
| 10/11/2018 | Listing removed | $845 |
Source: Real Property Management Greater Madison Report a problem | ||
| 9/20/2018 | Listed for rent | $845 |
Source: Real Property Management Greater Madison Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2024 | $16,580 +6.9% | $847,000 +10% |
| 2023 | $15,514 | $770,000 +0.7% |
| 2022 | -- | $765,000 +41.7% |
| 2021 | -- | $540,000 +4.9% |
| 2020 | -- | $515,000 +5.1% |
| 2019 | $10,358 | $490,000 +5.7% |
| 2018 | $10,358 +6.2% | $463,400 +10% |
| 2017 | $9,752 +36.2% | $421,400 +9.9% |
| 2016 | $7,162 +4.9% | $383,400 +34.5% |
| 2014 | $6,827 +8.3% | $285,000 +2.9% |
| 2013 | $6,305 -4.9% | $277,000 |
| 2012 | $6,628 +5.1% | $277,000 |
| 2011 | $6,305 -33.3% | $277,000 -35.3% |
| 2010 | $9,446 +1.7% | $428,000 -5.9% |
| 2009 | $9,287 +11.4% | $455,000 +5.8% |
| 2008 | $8,333 -1.4% | $430,000 |
| 2007 | $8,448 -0.3% | $430,000 |
| 2006 | $8,472 -0.6% | $430,000 +4.9% |
| 2005 | $8,522 +18% | $410,000 +26.3% |
| 2004 | $7,219 +3.6% | $324,500 |
| 2003 | $6,965 +2.7% | $324,500 +12.3% |
| 2002 | $6,780 -0.1% | $289,000 +4.7% |
| 2001 | $6,785 | $276,000 |
Find assessor info on the county website
Neighborhood: Lerdahl Park
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Nearby schools
GreatSchools rating
- 5/10Mendota Elementary SchoolGrades: PK-5Distance: 0.2 mi
- 3/10Black Hawk Middle SchoolGrades: 6-8Distance: 1.2 mi
- 8/10East High SchoolGrades: 9-12Distance: 3.1 mi
Schools provided by the listing agent
- 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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Estimated market value
$1,210,800
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Find out how much your home could sell for in as little as 3 minutes with a no-obligation cash offer.
Estimated market value
$1,210,800
- Wisconsin
- Dane County
- Madison
- 53704
- Lerdahl Park
- 3722 W Karstens Dr
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