2014 S High Point Rd · Madison, WI 53719

$422,900

3 bd · 2.5 ba · 1,656 sqft · MultiFamily · 25 Days on market

Built 2026 Good condition 6,098 sqft lot $26/mo HOA · 1% of rent

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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 +16.3/30.0
• ARV discount +7.5/15.0
• DSCR +5.0/10.0
• 1% rule +4.5/10.0
• Livability +4.2/5.0
• Condition / age +4.0/5.0
• Schools +3.8/10.0
• Rent growth +3.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

This Aldo home features a thoughtfully designed, open-concept layout ideal for modern living. Offering 3 bedrooms, 2.5 baths, and a 2-car garage, this home showcases locally made, custom Auburn Ridge cabinetry, doors, and trim crafted to last. The stylish kitchen includes a center island, quartz countertops, and quality finishes from trusted brands like Kohler, Moen, and Shaw. Durable luxury vinyl plank flooring enhances main living areas, while painted solid-core doors provide superior sound control. Designer lighting curated from Kichler and Visual Comfort & Co. adds a polished touch. Smart Home+ technology with integrated lighting control brings everyday convenience. Enjoy added pe

Key facts

• Quartz countertops
• Center island
• Open-concept layout

Tags

• OPEN-CONCEPT LAYOUT
• CUSTOM AUBURN RIDGE CABINETRY
• CENTER ISLAND
• QUARTZ COUNTERTOPS
• LUXURY VINYL PLANK FLOORING
• PAINTED SOLID-CORE DOORS

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath multifamily listed at $423k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $230 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $402k (4.9% below list).
• Recommended offer: $402k (4.9% below list) — sets the bar for 1% rule.
• Cap rate 6.9% 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+; Watch: schools C-.
• Verona Area School District (suburban): math 39% / reading 42% proficiency, ranked #113 of 342 in WI (top 33%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+4.0%/yr); 150 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 5,519 units permitted in Dane County in 2024 (3,978 in 5+ unit buildings).
• At $4,023/mo this rent would consume 52% of the median local household income ($92k/yr) (locally 1237% 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 $3k of loan paydown is wiped out by about $13k 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 25 days — a 2% lower offer ($417k) is reasonable based on typical stale-listing flexibility.

Recommended offer $402,300 (4.9% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.95% ✗
• Cap rate: 6.94%
• Cash-on-cash: 2.33%
• DSCR: 1.10
• GRM: 8.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.04% rent growth · sell at horizon

5-year hold

• IRR: -11.4%
• Equity multiple: 0.58×
• Total profit: $-49,575
• Equity at exit: $63,056

10-year hold

• IRR: -0.7%
• Equity multiple: 0.95×
• Total profit: $-6,201
• Equity at exit: $36,565

Cash invested: $118,412 (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 53719

• Rents YoY: 4.0%
• Active inventory: 150
• Price-to-rent: 17.5×

Monthly cashflow live

• Estimated rent: $4,023 high
• Mortgage (P&I): −$2,218
• Tax est. 1.5%: −$529 /mo · $6,344/yr
• Insurance: −$176
• HOA: −$26
• Vacancy / Maint / Mgmt: −$845
• Net cashflow: $230

Break-even live

Break-even rent $3,732

Max offer price $422,900

Occupancy floor 89%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2.5	$4,024
Total (2 units)			$4,023

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: $105,725
• Closing costs: $12,687
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7602 Mid Town Rd Madison, WI	2.0	2.0	1679	$2,200	$1.31	14d	8	0.20mi
8311 Mid Town Rd Madison, WI	3.0	2.0	1820	$2,390	$1.31	43d	1	0.21mi
1723 Waldorf Blvd Madison, WI	1.0–2.0	1.0–2.0	953	$1,930	$2.02	14d	18	0.33mi
2002 Jeffy Trl Madison, WI	2.0	1.0–2.0	823	$1,845	$2.24	14d	7	0.35mi
1704 Waldorf Blvd Unit 1718 Madison, WI	2.0	2.5	1573	$2,300	$1.46	14d	1	0.36mi
8002 Starr Grass Dr Madison, WI	1.0–3.0	1.0–2.0	1182	$2,425	$2.05	14d	49	0.47mi
8206 Starr Grass Dr #204 Madison, WI	2.0	2.0	1235	$2,050	$1.66	19d	1	0.48mi
8206 Starr Grass Dr Madison, WI	1.0–2.0	1.0–2.0	1017	$2,050	$2.01	23d	2	0.48mi
2850 Bedrock Ln Madison, WI	3.0	1.0–2.5	1052	$2,990	$2.84	14d	16	0.49mi
8301 Flagstone Dr Madison, WI	1.0–2.0	1.0–2.0	934	$1,895	$2.03	14d	7	0.60mi
8504 Mansion Hill Ave Madison, WI	2.0	1.0–2.0	944	$2,221	$2.35	14d	21	0.71mi
8504 Mansion Hill Ave Madison, WI	3.0	1.0–2.0	1058	$2,837	$2.68	43d	25	0.71mi
2837 Cimarron Trl Madison, WI	3.0	1.5	1400	$2,350	$1.68	19d	1	0.76mi
1132 Morraine View Dr Madison, WI	3.0	1.0	1074	$1,700	$1.58	14d	4	0.92mi
1042 McKenna Blvd Madison, WI	1.0–3.0	1.0–2.0	1000	$1,975	$1.98	14d	9	1.08mi
1118 Gammon Ln Madison, WI	3.0	1.5	1200	$2,350	$1.96	14d	1	1.11mi
13 Westover Ct Madison, WI	3.0	1.5	1400	$2,795	$2.00	14d	1	1.17mi
6763 Hammersley Rd Madison, WI	3.0	2.5	1400	$2,695	$1.93	19d	1	1.19mi
1815 Brittany Pl Madison, WI	2.0	1.0–2.0	725	$1,635	$2.26	14d	9	1.28mi
2013 Adderbury Ln Madison, WI	3.0	1.5	1400	$2,795	$2.00	19d	1	1.31mi
1910 Hawks Ridge Dr Verona, WI	2.0	1.0–2.0	978	$2,490	$2.54	14d	24	1.31mi
6801 Chester Dr Madison, WI	2.0	1.5–2.5	1172	$2,004	$1.71	14d	10	1.44mi
6723 Schroeder Rd Madison, WI	1.0–3.0	1.0–2.0	912	$1,895	$2.08	14d	27	1.45mi

HOA detail

• Monthly dues: $26 · $312/yr

Listing history 2 events

1. 2026-04-28
   status Pending
2. 2026-04-03
   listed $422,900 Active

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

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 ≥99°F today · 13 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: $48,276
• − Mortgage interest: −$23,689
• − Property taxes: −$6,344
• − Insurance: −$2,114
• − Repairs & maintenance: −$3,862
• − Management: −$3,862
• − HOA: −$312
• − Depreciation: −$12,303
• Taxable loss: −$4,210
• Est. tax savings @ 24.0%: +$1,010
• After-tax cash flow: $3,766/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.

Condition & rehab AI · 13 photos

Good 80/100 Cosmetic rehab

This well-maintained, modern multi-family home with a good condition score and cosmetic rehab level is ready for immediate occupancy and can be further enhanced with minor exterior painting and gutter maintenance.

Value-add opportunities

• Both Paint exterior trim — Enhances curb appeal and can increase both resale and rental value.
• Both Clean and maintain gutters — Keeps the home looking well-maintained and can prevent water damage

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior trim — Enhances curb appeal and can increase both resale and rental value. ↑
• Both Clean and maintain gutters — Keeps the home looking well-maintained and can prevent water damage ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Verona Area School District
• NCES district ID: 5515330
• Math proficiency: 39% ▼ -2.00%
• Reading proficiency: 42% ▼ -2.00%
• Median HH income: $79,387
• Composite: 37.71/100
• National rank: #4358
• State rank: #113 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

• County: Dane County · 506,461 people
• City population: 301,931
• Metro: Madison, WI
• Population (ZIP): 34,115
• Household income: $92,052
• Rent vs Own: 50.7% rent · 49.3% own
• Severe rent burden: 1237.0

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 (67%)
• Race & ethnicity: White 67% Hispanic / Latino 12% Two or more races 10% Asian 9% Black 6%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Portuguese 7% Romanian 5% Italian 3%
• Foreign-born: 13% · Canada, China, Jamaica
• Languages at home: 83% English-only · Spanish 7% Other Indo-European 3% Chinese 2%

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: ▼ -186.97%
• Current HPI: 265.9371
• Rent YoY: ▲ 4.04%
• 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

2 events — show timeline

• 2026-04-28 Pending — SCWMLS
• 2026-04-03 Listed $422,900 SCWMLS