For sale

Price cut: $109K (8/5)

$1,080,000

554 W Mifflin St, Madison, WI 53703

9beds

2,580sqft

$8,394/mo

Get pre-qualified

Multi Family

Built in 1904

-- sqft lot

$1,038,300 Zestimate^®

$419/sqft

$-- HOA

What's special

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.

--
on Zillow
383
views
14
saves

Facts & features

Interior

Bedrooms & bathrooms

Bedrooms: 9
Bathrooms: 3
Full bathrooms: 3

Heating

Natural Gas, Forced Air

Appliances

Included: Range/Oven (Unit 1), Refrigerator (Unit 1), Range/Oven (Unit 2), Refrigerator (Unit 2), Range/Oven (Unit 3), Refrigerator (Unit 3)

Features

Family/Rec Room (Unit 1), Eat In Kitchen (Unit 1), Family/Rec Room (Unit 2), Eat In Kitchen (Unit 2), Family/Rec Room (Unit 3), Eat In Kitchen (Unit 3)
Flooring: Wood or Simulated Wood (Unit 1), Wood or Simulated Wood (Unit 2), Wood or Simulated Wood (Unit 3)
Basement: Full

Interior area

Total structure area: 2,580
Total interior livable area: 2,580 sqft

Property

Parking

Total spaces: 4
Parking features: 1 space
Details: Outside

Features

Levels: Three Or More

Lot

Size: 2,178 Square Feet

Details

Parcel number: 070923124261
Zoning: Dr2

Construction

Type & style

Home type: MultiFamily
Property subtype: Multi Family

Materials

Vinyl Siding
Foundation: Other

Condition

Year built: 1904

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: $419/sqft
Tax assessed value: $909,000
Annual tax amount: $12,341
Date on market: 5/13/2026
Inclusions: 3 refrigerators, 3 ranges, 1 dishwasher, washer, dryer
Exclusions: window AC units
Total actual rent: 104100

Estimated market value

$1,038,300

$986,000 - $1.09M

$2,354/mo

Price history

Date	Event	Price
8/5/2026	Price change	$1,080,000-9.2%$419/sqft
Source: SCWMLS #2023152 Report a problem
7/24/2026	Price change	$1,189,000-8.2%$461/sqft
Source: SCWMLS #2023152 Report a problem
6/10/2026	Price change	$1,295,000-3.7%$502/sqft
Source: WIREX MLS #2023152 Report a problem
5/13/2026	Listed for sale	$1,345,000+48%$521/sqft
Source: WIREX MLS #2023152 Report a problem
8/29/2025	Sold	$909,000+1.6%$352/sqft
Source: Public Record Report a problem
7/6/2025	Pending sale	$895,000$347/sqft
Source: WIREX MLS #2003523 Report a problem
7/3/2025	Listed for sale	$895,000$347/sqft
Source: WIREX MLS #2003523 Report a problem
11/29/2018	Listing removed	$1,395$1/sqft
Source: Birwood Property Management Report a problem
11/7/2018	Listed for rent	$1,395$1/sqft
Source: Birwood Property Management Report a problem

Public tax history

Year	Property taxes	Tax assessment
2024	$11,968 +4%	$611,400 +7%
2023	$11,513	$571,400 +5%
2022	--	$544,200 +5%
2021	--	$518,300 +15%
2020	--	$450,700 +5%
2019	$9,588	$429,200
2018	$9,588 -3.5%	$429,200
2017	$9,934 +6.3%	$429,200 +5%
2016	$9,348 +5%	$408,800 +10.2%
2014	$8,905 +8.4%	$370,800 +3%
2013	$8,217 -4.9%	$360,000
2012	$8,636 +5.1%	$360,000
2011	$8,217 +3.6%	$360,000
2010	$7,933 -2.3%	$360,000 -9.6%
2009	$8,121 +5.2%	$398,300
2008	$7,716 -1.4%	$398,300
2007	$7,825 -0.3%	$398,300
2006	$7,847 +4.3%	$398,300 +10%
2005	$7,526 +2.8%	$362,100 +10%
2004	$7,323 +10.4%	$329,200
2003	$6,636 +1.8%	$329,200 +18.4%
2002	$6,522 +9.8%	$278,000 +15%
2001	$5,942 +6.9%	$241,700 +10%
2000	$5,559	$219,700