124 North Franklin Street Madison, WI 53703
8-bedroom property generating over $7,100/month with upside potential.
Property Features for 124 North Franklin Street
General Information
- Standard status
- Active
- Size
- 2,697 SF
- Property subtype
- Multi Family / 2 flat-up and down
Building Details
- Year Built
- 1882
Listing office EXIT Realty HGM (608) 395-7600
Listing date Apr 28, 2026
Source Compass
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Investment Insights
Based on property information with market context.
Key Highlights
- High Income Potential: Currently generating over $7,100/month with potential to exceed $8,200/month.
- Prime Location: Situated next to James Madison Park.
- Oversized Units: Spacious apartments that are easy to rent.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $53.4k | $19.80 |
| − Vacancy | −$2.4k | −$0.89 |
| EGI | $51.0k | $18.91 |
| − OpEx | −$15.3k | −$5.67 |
| NOI | $35.7k | $13.24 |
