Exceptional investment opportunity in Madison’s coveted Mansion Hill. This 7-unit apartment building features original hardwood floors, balconies, and thoughtfully designed layouts. Located steps from UW-Madison, the State Capitol, and Lake Mendota, it offers strong tenant demand and low vacancies in a high-growth rental market. Current below-market rents offer immediate cash flow with significant upside through strategic adjustments. Further value-add potential includes monetizing the detached garage for parking/storage. With robust 10% annual rent growth and limited supply of historic properties, this asset promises stable returns and long-term appreciation. Fully leased through July 2026 with $112k annual gross income.
Sold for $1,070,000
$1,070,000
515 N Pinckney St, Madison, WI 53703
3beds
1,995sqft
Apartment
Built in 1914
-- sqft lot
$1,105,100 Zestimate®
$536/sqft
$2,984 Estimated rent
Home value
$1,105,100
$1.04M - $1.17M
$2,984/mo
Zestimate® history
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$2,984/mo
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$2,984/mo
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$5,843/mo
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Est. payment
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Zillow last checked:
Listing updated:
Listed by:
Tim A Flores,
LPT Realty,
Chris B Martinez,
LPT Realty
Bought with:
Jeffrey Cullen, 84620-94
Weichert, Realtors- Lakepoint
Source: SCWMLS,MLS#: 2008173
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 3
- Bathrooms: 4
- Full bathrooms: 4
Heating
- Natural Gas, Radiant
Appliances
- Included: Range/Oven (Unit 1), Refrigerator (Unit 1), Range/Oven (Unit 2), Refrigerator (Unit 2), Range/Oven (Unit 3), Refrigerator (Unit 3), Range/Oven (Unit 4), Water Softener Owned
- Laundry: Common Area
Features
- Eat In Kitchen (Unit 1), Eat In Kitchen (Unit 4)
- Flooring: Wood or Simulated Wood (Unit 1), Wood or Simulated Wood (Unit 3), Wood or Simulated Wood (Unit 4)
- Basement: Finished,Full,Walk-Out Access
Interior area
- Total structure area: 1,995
- Total interior livable area: 1,995 sqft
Property
Parking
- Total spaces: 2
- Parking features: 1 stall garage, Detached, Outside
- Has garage: Yes
- Details: Outside
Features
- Levels: Three Or More
- Patio & porch: Balcony/Patio (Unit 1), Balcony/Patio (Unit 2), Balcony/Patio (Unit 3), Balcony/Patio (Unit 4)
- Has view: Yes
- View description: Water
- Has water view: Yes
- Water view: Water
Lot
- Size: 4,356 sqft
- Features: Near Public Transit
Details
- Parcel number: 070914402072
- Zoning: DR1 HIS-MH
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Apartment
Materials
- Brick, Stucco, Wood Siding
- Foundation: Poured concrete foundatn
Condition
- Year built: 1914
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
Community & neighborhood
Location
- Region: Madison
HOA & financial
Other financial information
- Total actual rent: 71904
Other
Other facts
- Listing terms: Exchange,Arms Length
Price history
| Date | Event | Price |
|---|---|---|
| 11/6/2025 | Sold | $1,070,000-6.9%$536/sqft |
Source: Public Record Report a problem | ||
| 10/1/2025 | Pending sale | $1,149,000$576/sqft |
Source:  WIREX MLS #2008173 Report a problem | ||
| 9/5/2025 | Listed for sale | $1,149,000-0.1%$576/sqft |
Source: WIREX MLS #2008173 Report a problem | ||
| 7/5/2025 | Listing removed | $1,150,000$576/sqft |
Source: WIREX MLS #2001470 Report a problem | ||
| 6/5/2025 | Listed for sale | $1,150,000-4.1%$576/sqft |
Source: WIREX MLS #2001470 Report a problem | ||
| 6/4/2025 | Listing removed | $1,199,000$601/sqft |
Source: WIREX MLS #1996237 Report a problem | ||
| 5/2/2025 | Listing removed | $1,525$1/sqft |
Source: Zillow Rentals Report a problem | ||
| 4/29/2025 | Pending sale | $1,199,000$601/sqft |
Source: WIREX MLS #1996237 Report a problem | ||
| 4/15/2025 | Listed for rent | $1,525$1/sqft |
Source: Zillow Rentals Report a problem | ||
| 4/9/2025 | Price change | $1,199,000-2.1%$601/sqft |
Source: WIREX MLS #1996237 Report a problem | ||
| 3/30/2025 | Listed for sale | $1,225,000+33.4%$614/sqft |
Source: WIREX MLS #1996237 Report a problem | ||
| 8/17/2023 | Sold | $918,000-3.4%$460/sqft |
Source: Public Record Report a problem | ||
| 7/1/2023 | Contingent | $950,000$476/sqft |
Source: WIREX MLS #1957258 Report a problem | ||
| 6/12/2023 | Price change | $950,000-5%$476/sqft |
Source: WIREX MLS #1957258 Report a problem | ||
| 6/6/2023 | Listed for sale | $1,000,000+53.8%$501/sqft |
Source: WIREX MLS #1957258 Report a problem | ||
| 4/29/2022 | Sold | $650,000$326/sqft |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2024 | $17,970 +37.2% | $918,000 +41.2% |
| 2023 | $13,096 | $650,000 -5% |
| 2022 | -- | $684,000 +5.1% |
| 2021 | -- | $651,000 +9.9% |
| 2020 | -- | $592,100 +5% |
| 2019 | $12,018 | $564,100 +5% |
| 2018 | $12,018 -3.5% | $537,100 |
| 2017 | $12,451 +6.3% | $537,100 +5.1% |
| 2016 | $11,716 +4.9% | $511,100 +10.1% |
| 2014 | $11,166 +2.7% | $464,100 +3.1% |
| 2013 | $10,872 +0.5% | $450,100 |
| 2012 | $10,817 +5.1% | $450,100 |
| 2011 | $10,292 +3.6% | $450,100 |
| 2010 | $9,938 -2.7% | $450,100 -10% |
| 2009 | $10,215 +5.3% | $500,100 |
| 2008 | $9,698 -1.3% | $500,100 |
| 2007 | $9,825 -0.3% | $500,100 |
| 2006 | $9,853 +4.3% | $500,100 +10% |
| 2005 | $9,449 +2.8% | $454,600 +10% |
| 2004 | $9,194 +10.4% | $413,300 |
| 2003 | $8,331 +1.8% | $413,300 +18.5% |
| 2002 | $8,185 +9.7% | $348,900 +15% |
| 2001 | $7,458 +6.9% | $303,400 +10% |
| 2000 | $6,979 | $275,800 |
Find assessor info on the county website
Neighborhood: Capitol
Nearby schools
GreatSchools rating
- NALapham Elementary SchoolGrades: PK-2Distance: 0.9 mi
- 8/10O'keeffe Middle SchoolGrades: 6-8Distance: 1.6 mi
- 8/10East High SchoolGrades: 9-12Distance: 2.1 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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Estimated market value
$1,105,100
Get a cash offer in 3 minutes
Find out how much your home could sell for in as little as 3 minutes with a no-obligation cash offer.
Estimated market value
$1,105,100
- Wisconsin
- Dane County
- Madison
- 53703
- Capitol
- 515 N Pinckney St
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