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    The Largest CRE Database in the US with Over 1 Million Listings

    411 S Paterson St Madison, WI 53703

    Sponsored
    For Sale
    $634,500

    Apartment building,2 story - Madison, WI

    Lot size:
    0.04 Acres
    Days on Market:
    16
    Last Refresh:
    Jan 28 at 6:06 am

    Property Features for 411 S Paterson St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Zoning
    HIS-TL
    Rooms
    Basement, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
    Bedrooms
    5
    APN
    0709-134-0619-0
    Interior features
    Water Softener Owned
    Basement Y/N
    1
    Appliances
    Dishwasher, Dryer
    Lot size
    0.04 Acres

    Utilities

    Utilities
    Water Available
    Heating system
    Heat Pump (Heating)

    Building Details

    Year built
    1898
    Floors in Building
    2
    Number of units
    3
    Architectural style
    Other

    We can help!

    Listing Contact
    Liz Lauer

    Lauer Realty Group, Inc. (608) 467-3220

    Listing agent Liz Lauer (608) 467-3220

    Listing date Jan 13, 2026

    MLS# 2014529 Listing URL

    Copyright © 2026 South Central Wisconsin MLS Corporation. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Madison Investment Property Near Downtown

    This Marquette neighborhood investment property is situated on a quiet street, conveniently located near BB Clark Beach, Willy Street's dining and cafe scene, and within walking distance of downtown Madison. The two-story apartment building has undergone extensive renovations since 2016, including the installation of three new boilers and updates to the second-floor floorplan, bathroom, and kitchens. The first floor features two bedrooms, LVP flooring in the living area, maple hardwood in the bedrooms, a kitchen equipped with a dishwasher, and a private three-season room. The second floor also offers two bedrooms, maple hardwood flooring, and a private deck. The third floor includes one bedroom, hardwood floors, and an updated kitchen with a dishwasher. The building has a new roof installed in 2024 and a water heater from 2014. Three new boilers were installed in 2017. The property is equipped with three 100 amp electrical panels. Additional features include insulated vinyl windows. The lot size is 0.04 acres. The zoning is HIS-TL. This property is intended for use as a rental.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Restaurant Realty agency Spa & Massage Dental Office Hair Salon Law Firm Nail Salon Clothing Store Food Market Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Madison
    County
    Dane
    State
    Wisconsin
    Longitude
    -89.369115
    Latitude
    43.079309

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    FAQs

    What type of property is this?
    Triplex - Renovated triplex near BB Clark Beach and Willy Street.
    Where is this triplex located?
    The property is located at 411 S Paterson St Madison, WI.
    What is the asking price?
    The asking price for this property is $634,500.
    What are key features of this property?
    This property features: - Fabulous location: close to BB Clark Beach, Willy Street, and downtown.; - Extensive renovations since 2016, including **new roof ('24)** and 3 new boilers ('17).; - Turn-key rental property with tenant-paid heat.
    (608) 444-5725
    Request Owner's contact information
    411 S Paterson St Madison, WI 53703
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    Madison, WI 53703
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    411 S Paterson St Madison, WI 53703
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    We can help!
    Listing Contact
    Liz Lauer
    Real Estate License ID: 56139-90
    (608) 444-5725
    Learn more
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