Rebuilt Three-Bedroom
For Sale
Contact for pricing
908 E Gorham St Unit 1, Madison, WI 53703
Updated interior with basement access and a private washer and dryer.
Property Size1,146 SF
Price / SF$2.23
Days on Market185
Property Features for 908 E Gorham St Unit 1
General Information
Standard status
Active
Size
1,146 SF
Property subtype
Multi-Family
Listing Agency:
Tri-River Realty
Listed By:
Sue Jiang
(608) 347-8302
Source:
Madisonareahomelistings
Added: Apr 16
Changed: Oct 1
Last Checked: Oct 16 at 9:32AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Tri-River Realty
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Investment Insights
Based on property information with market context.
This three-bedroom apartment contains 1,146 square feet and was rebuilt in 2026. Interior improvements include luxury vinyl plank flooring, a new kitchen, and a newly completed large full bathroom. The unit also connects to a basement area containing a private washer and dryer.
The apartment is at 908 E Gorham St in Madison’s Isthmus area. Lake access, parks, restaurants, coffee shops, and grocery stores are within walking distance. Downtown Madison and UW-Madison are accessible by bicycle or bus.
The apartment is at 908 E Gorham St in Madison’s Isthmus area. Lake access, parks, restaurants, coffee shops, and grocery stores are within walking distance. Downtown Madison and UW-Madison are accessible by bicycle or bus.
Key Highlights
- 1,146‑square‑foot three‑bedroom apartment
- Rebuilt in 2026 with updated interior finishes
- Luxury vinyl plank flooring throughout the unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,057
Suggested Prices Based on Cap Rates
Cap Rate 5%
$281,140
$281.1K
Cap Rate 7%
$200,814
$200.8K
Cap Rate 9%
$156,189
$156.2K
Market Conditions
NOI Build-Up for 1,146 SF
Gross rent
$26.7K $23.28/SF
− Vacancy
−$1.1K −$0.98/SF
EGI
$25.6K $22.30/SF
− OpEx
−$11.5K −$10.04/SF
NOI
$14.1K $12.27/SF
Area
Madison, WI
Vacancy
4.20%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$281,140
Cap Rate 7%
$200,814
Cap Rate 9%
$156,189
Alternative Uses
Best Use
Apartment 5plus
$200.8K
$175.7K – $234.3K
NOI $14,057 @ 7.0% cap · market cap 551.25%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$334.8K
$292.9K – $390.6K
NOI $23,433 @ 7.0% cap · market cap 918.94%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,139
Businesses Nearby
Explore this area
Business Placement
Demographics for 53703, WI
38,512
Population
21,025
Households
1.8
Avg Household Size
27
Median Age
69%
College-Educated
98%
High-School Grad
1.8 sq mi
ZIP Area
21,396
Density / Sq Mi
$46,618
Median Household Income
$27,923
Median Earnings
$1,445
Median Rent
$472,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Multifamily property - Updated interior with basement access and a private washer and dryer.
Where is this multifamily property located?
The property is located at 908 E Gorham St Unit 1 Madison, WI.
What are key features of this property?
This property features: 1,146‑square‑foot three‑bedroom apartment; Rebuilt in 2026 with updated interior finishes; Luxury vinyl plank flooring throughout the unit
