225 Nautilus Dr · Madison, WI 53705

$1,450,000

None bd · None ba · 3,675 sqft · MultiFamily public records · 641 Days on market

Built 1965 0.62 ac lot

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Why this score? — see what drove the D grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +14.6/30.0
• ARV discount +7.5/15.0
• DSCR +4.5/10.0
• 1% rule +4.3/10.0
• Livability +4.2/5.0
• Rent growth +3.9/5.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 8 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Solidly built, brick 8 unit now in an established neighborhood. Each unit includes one space in a detached garage, and storage locker. Each building also features basement laundry area for tenant use. This property has been well-maintained but can use some cosmetic updates. Strong rental history with some room for rent increases. Rents listed are for Units in Building 225. Additional unit rents for Building 229: #1 $1260, Great location close to bus line and employers including Trustage and Exact Sciences. #2 $1225, Unit #3 $1265, Unit #4 $1215. All units are similar in floorplan and condition. Only 1 unit will be available for initial showing.

Key facts

• 0.62 acre lot
• Built 1965
• Listed 641 days

What this means for you Summary

Snapshot

• This is a 8 × 2-bed/1-bath units multifamily listed at $1.45M.

Deal economics

• At list price, monthly cash flow is $355 ($4k/yr) — positive. Per door: $44/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.34M (7.3% below list).
• Recommended offer: $1.28M (12.0% below list) — sets the bar for market timing.
• Cap rate 6.6% vs local median 2.4% in Madison — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 84/100 on livability (#39 in WI, #819 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, housing A+.
• Madison Metropolitan School District (urban): math 35% / reading 40% proficiency, ranked #193 of 342 in WI (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Muir Elementary (math 42% / reading 37%, grade F, #490 of 1,041 statewide, top 53%, 403 students, 46% FRL); Jefferson Middle (math 28% / reading 31%, grade F, #261 of 383 statewide, top 73%, 415 students, 52% FRL); Vel Phillips Memorial High (math 43% / reading 54%, grade D, #46 of 483 statewide, top 10%, 2,025 students, 39% FRL) — zoned schools at 46% FRL track the district average.
• Market conditions: Rents rising fast (+5.5%/yr); 62 active listings in the ZIP; solid renter incomes; 5,519 units permitted in Dane County in 2024 (3,978 in 5+ unit buildings).
• At $13,447/mo this rent would consume 182% of the median local household income ($89k/yr) (locally 1320% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $10k of loan paydown is wiped out by about $44k of value loss. Plan a longer hold.
• Dane County population projected at +35% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 641 days — a 12% lower offer ($1.28M) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $150k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $680k; list at $1.45M implies a 113% gain — meaningful room to come down on a strong offer.

Recommended offer $1,276,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 641 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
9. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.93% ✗
• Cap rate: 6.59%
• Cash-on-cash: 1.05%
• DSCR: 1.05
• GRM: 9.0

CMA / ARV

• ARV (median comp): $335,088
• List price: $1,450,000
• Delta: 332.72%
• Verdict: OVERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 5.49% rent growth · sell at horizon

5-year hold

• IRR: -11.8%
• Equity multiple: 0.56×
• Total profit: $-177,479
• Equity at exit: $216,200

10-year hold

• IRR: 0.8%
• Equity multiple: 1.06×
• Total profit: $25,099
• Equity at exit: $125,369

Cash invested: $406,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 73 Landlord-Friendly
• State Wisconsin: 73 Landlord-Friendly · R+2
• County: — inherits STATE
• City: — inherits STATE

5-day notice; preempted; Madison / Milwaukee have some local enforcement.

Methodology + full state rankings →

ZIP-level market 53705

• Rents YoY: 5.5%
• Active inventory: 62
• Price-to-rent: 71.9×

Monthly cashflow live

• Estimated rent: $13,447 medium
• Mortgage (P&I): −$7,604
• Tax from tax record: −$2,060 /mo · $24,722/yr
• Insurance: −$604
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,824
• Net cashflow: $355

Break-even live

Break-even rent $12,998

Max offer price $1,450,000

Occupancy floor 92%

Sensitivity live

Price	-10% $1,176	-5% $765	+0% $355	+5% $-56	+10% $-466
Rent	-10% $-707	-5% $-176	+0% $355	+5% $886	+10% $1,417
Rate	-1.0pp $1,085	-0.5pp $724	base $355	+0.5pp $-21	+1.0pp $-403

8-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 8× units	2	1	$13,448
Total (8 units)			$13,447

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $362,500
• Closing costs: $43,500
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-03
   status $1,450,000 Pending 641 DOM
2. 2026-06-02
   days on market $1,450,000 Active 641 DOM
3. 2026-06-01
   days on market $1,450,000 Active 640 DOM
4. 2026-05-31
   days on market $1,450,000 Active 639 DOM
5. 2026-05-31
   days on market $1,450,000 Active 638 DOM
6. 2025-06-05
   price $1,450,000 653-char remark

   Show marketing remark (653 chars)

   Solidly built, brick 8 unit now in an established neighborhood. Each unit includes one space in a detached garage, and storage locker. Each building also features basement laundry area for tenant use. This property has been well-maintained but can use some cosmetic updates. Strong rental history with some room for rent increases. Rents listed are for Units in Building 225. Additional unit rents for Building 229: #1 $1260, Great location close to bus line and employers including Trustage and Exact Sciences. #2 $1225, Unit #3 $1265, Unit #4 $1215. All units are similar in floorplan and condition. Only 1 unit will be available for initial showing.

7. 2025-01-09
   price $1,500,000 653-char remark

   Show marketing remark (653 chars)

   Solidly built, brick 8 unit now in an established neighborhood. Each unit includes one space in a detached garage, and storage locker. Each building also features basement laundry area for tenant use. This property has been well-maintained but can use some cosmetic updates. Strong rental history with some room for rent increases. Rents listed are for Units in Building 225. Additional unit rents for Building 229: #1 $1260, Great location close to bus line and employers including Trustage and Exact Sciences. #2 $1225, Unit #3 $1265, Unit #4 $1215. All units are similar in floorplan and condition. Only 1 unit will be available for initial showing.

8. 2024-08-30
   listed $1,600,000 Active 653-char remark

   Show marketing remark (653 chars)

   Solidly built, brick 8 unit now in an established neighborhood. Each unit includes one space in a detached garage, and storage locker. Each building also features basement laundry area for tenant use. This property has been well-maintained but can use some cosmetic updates. Strong rental history with some room for rent increases. Rents listed are for Units in Building 225. Additional unit rents for Building 229: #1 $1260, Great location close to bus line and employers including Trustage and Exact Sciences. #2 $1225, Unit #3 $1265, Unit #4 $1215. All units are similar in floorplan and condition. Only 1 unit will be available for initial showing.

9. 2024-05-17
   historical $1,295
10. 2024-04-23
    listed $1,295
11. 2022-05-30
    price $1,150
12. 2014-10-02
    soldstatus $680,000
13. 2008-08-06
    soldstatus $547,000
14. 2000-05-05
    soldstatus $355,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast WI · Partial reset (capped growth)

• Current annual tax: $24,722 · $2,060/mo
• Projected year-2 tax: $25,773 · $2,148/mo
• Expected delta: +$1,052/yr (+$88/mo · 4.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥98°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $161,364
• − Mortgage interest: −$81,223
• − Property taxes: −$24,722
• − Insurance: −$7,250
• − Repairs & maintenance: −$12,909
• − Management: −$12,909
• − Depreciation: −$42,182
• Taxable loss: −$19,830
• Est. tax savings @ 24.0%: +$4,759
• After-tax cash flow: $9,018/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Madison Metropolitan School District
• NCES district ID: 5508520
• Math proficiency: 35% ▼ -4.00%
• Reading proficiency: 40% ▲ 3.00%
• Median HH income: $51,654
• Composite: 32.56/100
• National rank: #5686
• State rank: #193 of 342 in WI

Livability — Madison

• Score: 84/100
• State rank: #39
• US rank: #819

Category grades

Amenities C Commute A+ Cost of living B- Crime C+ Employment A+ Housing A+ Health & safety A+ User ratings B-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Madison, WI
• County: Dane County · 506,461 people
• City population: 301,931
• Metro: Madison, WI
• Population (ZIP): 25,017
• Household income: $88,549
• Rent vs Own: 50.3% rent · 49.7% own
• Severe rent burden: 1320.0

Population outlook (Dane County) Hauer SSP2

• Today (2025): 610,707 people
• By 2030: 654,875 · +7.2%
• By 2040: 740,480 · +21.2%
• By 2050: 826,188 · +35.3%
• By 2075: 1,040,574 · +70.4%
• By 2100: 1,168,084 · +91.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Asian 14% Two or more races 7% Hispanic / Latino 7% Black 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Romanian 7% Portuguese 6% Italian 3%
• Foreign-born: 19% · China, Canada, South Korea
• Languages at home: 80% English-only · Chinese 5% Spanish 4% Other Indo-European 3%

Political lean MEDSL · Dane

• 2024 margin: Solid D (+51.7) · D 75.1% · R 23.4% · Other 1.5%
• 2008→2024 swing: +4.7pp toward D · 2008: 47.0pp · 2024: 51.7pp
• All cycles: 2024: D+51.7 2020: D+52.6 2016: D+48.0 2012: D+43.6 2008: D+47.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -492.17%
• Current HPI: 352.895
• Rent YoY: ▲ 5.49%
• Metro: Madison, WI
• State GDP YoY: ▲ 2.10%
• F500 in state: 20

Industry mix (Fortune 500 HQ in WI)

Industry	F500 HQs	Revenue
▸Industrial Machinery	4	$23B
▸Industrial Technology	2	$36B
▸Insurance	1	$36B
▸Professional Services	1	$19B
▸Utilities	1	$9B
▸Consumer Goods	1	$3B

Price history

+308.5% since first listed

9 events — show timeline

• 2025-06-05 Price Changed $1,450,000 SCWMLS
• 2025-01-09 Price Changed $1,500,000 SCWMLS
• 2024-08-30 Listed $1,600,000 SCWMLS
• 2024-05-17 Rental Removed $1,295 APPFOLIO
• 2024-04-23 Listed for Rent $1,295 APPFOLIO
• 2022-05-30 Price Changed $1,150 RENT.
• 2014-10-02 Sold (Public Records) $680,000 Public Records
• 2008-08-06 Sold (Public Records) $547,000 Public Records
• 2000-05-05 Sold (Public Records) $355,000 Public Records

Property tax history

+5.8%/yr

Latest (2025): $24,722 · +12.8% YoY. Source: county tax records.