Investor opportunity! This well-maintained 4-unit property offers meaningful updates and landlord-friendly features. Recent improvements include new windows (2026), insulated walls and attic (2023), and water heater (2022). Two upper units have been remodeled with updated flooring, and all units feature split-system AC/heat pumps for added year-round comfort. Each unit includes two tandem parking spaces and separately metered electricity, paid by tenants. Owner pays heat and water/sewer; property has its own water softener. Shared basement coin-operated laundry provides convenient tenant access and additional owner income (~$200/mo). Approximately half the basement is secured landlord storage, including a small finished office—can be used for supplies, records, or on-site management. All units rented, two with long term tenants in place. Convenient Madison location near shopping, dining, parks, transit, and commuter routes.
Active
Price cut: $28K (9/23)
$722,000
5830 Balsam Rd, Madison, WI 53711
8beds
3,108sqft
Apartment
Built in 1961
-- sqft lot
$703,500 Zestimate®
$232/sqft
$-- HOA
What's special
- --
- on Zillow
- 387
- views
- 28
- saves
Zillow last checked:
Listing updated:
Listed by:
Iza Korwel,
Keller Williams Realty
Source: SCWMLS,MLS#: 2032345
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 8
- Bathrooms: 4
- Full bathrooms: 4
Heating
- Natural Gas, Steam
Cooling
- Air Conditioning (Unit 1), Air Conditioning (Unit 2), Air Conditioning (Unit 3), Air Conditioning (Unit 4)
Appliances
- Included: Range/Oven (Unit 1), Refrigerator (Unit 1), Range/Oven (Unit 2), Refrigerator (Unit 2), Range/Oven (Unit 3), Refrigerator (Unit 3), Range/Oven (Unit 4), Refrigerator (Unit 4), Water Softener Owned
Features
- Shared basement
- Basement: Full,Partially Finished,Daylight,Laundry facilities,Storage Space
Interior area
- Total structure area: 3,108
- Total interior livable area: 3,108 sqft
Property
Parking
- Total spaces: 4
- Parking features: 2 spaces, Outside, Concrete, Off Street
- Details: Outside
Features
- Levels: Two
Lot
- Size: 0.28 Acres
Details
- Parcel number: 060906203174
- Zoning: SR-V1
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Apartment
Materials
- Brick
- Foundation: Poured concrete foundatn
Condition
- Year built: 1961
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
- Utilities for property: Separate elec meters, Heat Included, Sewer Included, Water Included
Community & HOA
Community
- Subdivision: Meadowood
Location
- Region: Madison
Financial & listing details
- Price per square foot: $232/sqft
- Tax assessed value: $490,400
- Annual tax amount: $9,058
- Date on market: 9/10/2026
- Inclusions: 4 ranges/ovens, 4 refrigerators, 2 microwaves, 2 dryers, 1 washer.
- Exclusions: Seller's and tenant's personal property.
- Total actual rent: 64800
Estimated market value
$703,500
$668,000 - $739,000
$1,527/mo
Price history
| Date | Event | Price |
|---|---|---|
| 9/23/2026 | Price change | $722,000-3.7%$232/sqft |
Source: SCWMLS #2032345 Report a problem | ||
| 9/10/2026 | Listed for sale | $750,000+60.6%$241/sqft |
Source: SCWMLS #2032345 Report a problem | ||
| 6/14/2026 | Listing removed | $1,350 |
Source: Zillow Rentals Report a problem | ||
| 5/15/2026 | Listed for rent | $1,350 |
Source: Zillow Rentals Report a problem | ||
| 6/3/2022 | Sold | $467,000+3.8%$150/sqft |
Source: Public Record Report a problem | ||
| 4/18/2022 | Pending sale | $450,000$145/sqft |
Source:  WIREX MLS #1931387 Report a problem | ||
| 4/8/2022 | Listed for sale | $450,000+73.1%$145/sqft |
Source: WIREX MLS #1931387 Report a problem | ||
| 6/12/2019 | Sold | $260,000+55.7%$84/sqft |
Source: Public Record Report a problem | ||
| 9/28/2010 | Sold | $167,000+1.3%$54/sqft |
Source: Public Record Report a problem | ||
| 6/3/2010 | Price change | $164,900-2.9%$53/sqft |
Source: Real Estate Preferred, Inc, dba RE/MAX Preferred #1538368 Report a problem | ||
| 5/5/2010 | Price change | $169,900-2.9%$55/sqft |
Source: Real Estate Preferred, Inc, dba RE/MAX Preferred #1538368 Report a problem | ||
| 4/15/2010 | Price change | $174,900-2.8%$56/sqft |
Source: Real Estate Preferred, Inc, dba RE/MAX Preferred #1538368 Report a problem | ||
| 4/2/2010 | Price change | $179,900-2.7%$58/sqft |
Source: Real Estate Preferred, Inc, dba RE/MAX Preferred #1538368 Report a problem | ||
| 3/9/2010 | Price change | $184,900-2.6%$59/sqft |
Source: Real Estate Preferred, Inc, dba RE/MAX Preferred #1538368 Report a problem | ||
| 1/30/2010 | Price change | $189,900-2.6%$61/sqft |
Source: Real Estate Preferred, Inc, dba RE/MAX Preferred #1538368 Report a problem | ||
| 1/9/2010 | Price change | $194,900-2.5%$63/sqft |
Source: Real Estate Preferred, Inc, dba RE/MAX Preferred #1538368 Report a problem | ||
| 9/19/2009 | Price change | $199,900-3.8%$64/sqft |
Source: Real Estate Preferred, Inc, dba RE/MAX Preferred #1538368 Report a problem | ||
| 7/12/2009 | Price change | $207,900-1%$67/sqft |
Source: Real Estate Preferred, Inc, dba RE/MAX Preferred #1538368 Report a problem | ||
| 5/2/2009 | Price change | $209,900-2.3%$68/sqft |
Source: Real Estate Preferred, Inc, dba RE/MAX Preferred #1538368 Report a problem | ||
| 12/24/2008 | Price change | $214,900-2.3%$69/sqft |
Source: Listhub #1538368 Report a problem | ||
| 10/16/2008 | Price change | $219,900-2.2%$71/sqft |
Source: Listhub #1538368 Report a problem | ||
| 8/10/2008 | Price change | $224,900-2.2%$72/sqft |
Source: Listhub #1538368 Report a problem | ||
| 7/24/2008 | Price change | $229,900-2.1%$74/sqft |
Source: Listhub #1538368 Report a problem | ||
| 7/10/2008 | Price change | $234,900-2.1%$76/sqft |
Source: Listhub #1538368 Report a problem | ||
| 6/18/2008 | Listed for sale | $239,900$77/sqft |
Source: Listhub #1538368 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2024 | $9,141 -2.8% | $467,000 |
| 2023 | $9,409 | $467,000 +17.9% |
| 2022 | -- | $396,000 +10% |
| 2021 | -- | $360,000 +24.1% |
| 2020 | -- | $290,000 +5.5% |
| 2019 | $5,665 | $275,000 +7.8% |
| 2018 | $5,665 +12.1% | $255,000 +15.9% |
| 2017 | $5,054 +27.4% | $220,000 +25.7% |
| 2016 | $3,965 -0.1% | $175,000 +4.8% |
| 2014 | $3,968 +5.2% | $167,000 |
| 2013 | $3,771 -4.9% | $167,000 |
| 2012 | $3,965 +5.2% | $167,000 |
| 2011 | $3,771 -25.7% | $167,000 -27.9% |
| 2010 | $5,077 -8.3% | $231,600 -15% |
| 2009 | $5,535 +5.1% | $272,600 |
| 2008 | $5,269 -1.6% | $272,600 |
| 2007 | $5,356 +3.7% | $272,600 +4% |
| 2006 | $5,164 +5.7% | $262,100 +11.5% |
| 2005 | $4,884 -4.5% | $235,000 +2.3% |
| 2004 | $5,112 -4% | $229,800 |
| 2003 | $5,327 +10.7% | $229,800 +12% |
| 2002 | $4,814 -4.6% | $205,200 |
| 2001 | $5,044 +2% | $205,200 +5% |
| 2000 | $4,947 | $195,500 |
Find assessor info on the county website
Monthly payment
Est. payment
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.Climate risks
Neighborhood: Meadowood
Nearby schools
Schools provided by the listing agent
- Elementary: Orchard Ridge
- Middle: Toki
- High: Memorial
- District: Madison
Source: SCWMLS. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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