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.
For sale
Price cut: $50K (6/10)
$1,295,000
554 W Mifflin St, Madison, WI 53703
9beds
2,580sqft
Multi Family
Built in 1904
-- sqft lot
$1,231,800 Zestimate®
$502/sqft
$-- HOA
What's special
- 24 days |
- 271 |
- 10 |
Zillow last checked:
Listing updated:
Listed by:
Caleb Payne,
Madcityhomes.Com,
Stuart Meland,
Madcityhomes.Com
Source: SCWMLS,MLS#: 2023152
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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: $502/sqft
- Tax assessed value: $909,000
- Annual tax amount: $12,341
- Date on market: 6/5/2026
- Inclusions: 3 refrigerators, 3 ranges, 1 dishwasher, washer, dryer
- Exclusions: window AC units
- Total actual rent: 104100
Estimated market value
$1,231,800
$1.17M - $1.29M
$2,354/mo
Price history
| Date | Event | Price |
|---|---|---|
| 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 | $219,700 |
Find assessor info on the county website
Monthly payment
Est. payment$--/mo
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
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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Climate risks
Neighborhood: Capitol
Nearby schools
GreatSchools rating
- NAFranklin Elementary SchoolGrades: PK-2Distance: 1 mi
- 8/10Hamilton Middle SchoolGrades: 6-8Distance: 3.3 mi
- 9/10West High SchoolGrades: 9-12Distance: 1.7 mi
Schools provided by the listing agent
- Elementary: Franklin/Randall
- Middle: Hamilton
- High: West
- District: Madison
Source: SCWMLS. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
A local agent can set up tours, give advice and negotiate with sellers.
- Wisconsin
- Dane County
- Madison
- 53703
- Capitol
- 554 W Mifflin St
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