554 W Mifflin Street, Madison, WI 53703

Madison
Local realty services provided by:Better Homes and Gardens Real Estate Special Properties
Listed by: caleb payne, stuart meland
Office: madcityhomes.com
MLS#:2023152
Source:Metro MLS
554 W Mifflin Street,Madison, WI 53703
$1,080,000
  • - Beds
  • - Baths
  • - sq. ft.
  • Multi-family
  • Active

Price summary

  • Price:$1,080,000

About this home

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 8.19% per seller.

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Home facts

  • Year built:1904
  • Listing ID #:2023152
  • Added:91 day(s) ago
  • Updated:August 13, 2026 at 03:39 PM

Rooms and interior

  • Basement Description:Full

Heating and cooling

  • Cooling:Forced Air
  • Heating:Forced Air, Natural Gas

Structure and exterior

  • Year built:1904
  • Lot area:0.05 Acres
  • Construction Materials:Vinyl
  • Levels:3+ Story

Schools

  • High school:West
  • Middle school:Hamilton
  • Elementary school:Franklin/Randall

Utilities

  • Water:Municipal Water
  • Sewer:Municipal Sewer

Finances and disclosures

  • Price:$1,080,000
  • Tax amount:$12,341 (2025)

Features and amenities

  • Amenities:Separate Electric Meters

Parking

  • Parking description:1 Space
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