Listed by Ferraro Real Estate Team • EXP Realty, LLC (Pref: 608-838-1377). Bought with Keller Williams Realty.
Off Market Apr 2024 for $390K
$462,897
Est. refi paymentEst. refi$820/mo
6
bd
•
2 ba
•
—
sq ft
2005 Lake Point Dr, Madison, WI 53713
About this home
Public Remarks: Presenting a lucrative opportunity with this well-maintained 2-unit property, situated near all of Monona's amenities, ensuring high rentability and continuous cash flow. Washer and dryer hookups available in the basement, adding a layer of convenience for tenants and the potential for additional income. Storage units in the basement for both tenants. Currently, one of the units is vacant, offering a perfect scenario for an owner-occupant to live in one unit while enjoying the financial benefits of renting out the other. Alternatively, it's a choice for investors looking to capitalize on the area's high demand. This property is not just a residence, but an investment in a vibrant and desirable community.
Multi-familyProperty Type
1958Year Built
8,276 sq ftLot Size
2 spacesParking
Listed by Ferraro Real Estate Team• EXP Realty, LLC
Contact: Pref: 608-838-1377
Bought with The Opportunity Team• Keller Williams Realty
*Taxable value of land and structures on it ("additions") is determined regularly by local assessors and does not affect market price.
Public record
Public record
Zoning
Permits
Beds
6
Baths
2
Stories
2
Lot width
—
Lot depth
—
Lot size
8,306 Sq. Ft.
Year renovated
1958
Sq. Ft.
1,874
Year built
1958
Style
Multi-Family (5+ Unit)
County
Dane County
APN
071019409129
Parking Spaces
—
Basement
—
Accessible
—
HOA Dues
—
Garage
—
Features
—
Last updated by owner on Aug 6, 2026.
TR-V1
Traditional Residential-Varied 1 District
The TR-V Districts are established to stabilize, protect and encourage throughout the City the essential characteristics of mature residential areas and to accommodate a full range of life-cycle housing while encouraging a suitable environment for family life. The districts are also intended to: Promote the preservation, development and redevelopment of traditional residential neighborhoods in a manner consistent with their distinct form and residential character; Ensure that new buildings and additions to existing buildings are designed with sensitivity to their context in terms of building placement, facade width, height and proportions, garage and driveway placement, landscaping, and similar design features; Maintain and improve the viability of existing housing of all types, while providing for updating of older housing in a context-sensitive manner; Maintain or increase compatibility between residential and other allowed uses, and between different housing types, where permitted, by maintaining consistent building orientation and parking placement and screening; Facilitate the preservation, development or redevelopment goals of the comprehensive plan and of adopted neighborhood, corridor or special area plans.
Permitted uses
Include but are not limited to:
Religious facility
Day care facility
Retail-Grocery
Housing-Group
Housing-Single unit
Housing-Multiple units
Fire house
Police station
Communications tower
Park & open space
Jun 30, 2008 • Final
Repair or replace building
Replace windows in existing openings.
Remodel
Mar 22, 2006 • Final
Permitting/building/repairreplace/plumbing
Plumbing
Permit history is from public records and may be incomplete or inaccurate. Redfin and its agents make no representations about the property condition or permit status. Buyers should independently verify all information.
Property details
Parking
Parking Information
Parking: 2 Spaces, Outside
Interior
Room Information
Full, Poured Concrete
Multi-Unit Information
# of Units: 2
Unit 1 Information
Sq. Ft.: 1,170
# of Baths (1/2): 0
# of Baths (Full): 1
# of Bedrooms: 3
Unit 2 Information
Sq. Ft.: 1,170
# of Baths (1/2): 0
# of Baths (Full): 1
# of Bedrooms: 3
Master Bedroom Description: Upper Level
Master Bedroom Dimensions: 11 x 10
Bedroom 2 Description: Upper Level
Bedroom 2 Dimensions: 10 x 10
Bedroom 3 Description: Upper Level
Bedroom 3 Dimensions:
Living/Great Room Dimensions: 15 x 12
Kitchen Description: Upper Level
Kitchen Dimensions: 12 x 12
Exterior
Building Information
Building Type: 2 Flat
Stories: 1-2
Exterior
Exterior: Vinyl
Property Information
Stories: 1-2
Multi-Family
Information Source Year Built: Other - See Remarks
Lot Information
Lot Acreage: 0.19
Zoning: TR-V1
Financial
Tax Information
Total Taxes: $4,501
Tax Year: 2023
Utilities
Utility Information
Municipal Water, Municipal Sewer
Separate Electric Meters
Heating/Cooling: Radiant/Electric
Natural Gas
Location
Neighborhood Information
Municipality: MADISON
Municipality Type: City
School Information
School District: Madison
Elementary School: Call School District
Middle School: Call School District
High School: Call School District
Public facts
Beds: 6
Baths: 2.0
Sq. Ft.: 1,874
Stories: 2.0
Lot Size: 8,306 square feet
Style: Multi-Family (5+ Unit)
Year Built: 1958
Year Renovated: 1958
County: Dane County
APN: 071019409129
Home facts updated by county records on Aug 6, 2026
Other
Listing Information
SaleType: Arms Length
Inclusions: 2 Stoves, 2 Refrigerators, 1 AC Unit
Exclusions: Seller and Tenant Personal Property
Around this home
Schools
Glendale Elementary School
Public PreK-5 • Assigned • 1.9mi
2/10
Sennett Middle School
Public 6-8 • Assigned • 1.7mi
5/10
Lafollette High School
Public 9-12 • Assigned • 1.8mi
6/10
Provided by GreatSchools
Lifestyle
Provided by Walk Score and Local Logic
Climate risks
1/10 Flood Factor
Minimal risk of a flood reaching the building in the next 30 years
1/10 Fire Factor
Unlikely to be in a wildfire in next 30 years
2/10 Heat Factor
7 days above 99° expected this year, 14 days in 30 years
2/10 Wind Factor
Minor risk of severe winds over next 30 years
2/10 Air Factor
1 unhealthy days expected this year, 2 days in 30 years
Provided by First Street
Historical weather
Madison, WI • 53713
Average low and high temperatures (°F)
26
12
34
19
51
32
60
42
69
49
79
62
82
67
78
63
77
58
65
48
47
35
32
19
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Sun exposure
In this area, properties receive around 9.8 hours in
June and 3.5 hours in December, placing it below the
U.S. average for solar exposure.