505 Alan Drive, Mount Horeb, WI, 53572
About This Home
Well-maintained 8-unit brick apartment building with additional commercially zoned land included, offering future development or expansion potential. This property presents multiple value-add and long-term upside opportunities. The building itself is fully leased with year-to-year leases in place, providing immediate and stable cash flow. Recent capital improvements include a newer roof, updated mechanical systems, and a newer coin-operated laundry system for supplemental income. Each unit features separate electric meters, helping keep operating expenses efficient and transparent. Tenants benefit from basement storage units, adding everyday functionality and desirability. The property also offers a surface outdoor parking lot for convenient tenant parking. Solid brick construction, consistent rental history, and excess commercially zoned land make this a compelling opportunity for investors seeking income today with flexibility for future growth.
Getting Around
Car-Dependent
Very Limited Transit
Somewhat BikeableSchools
Construction
Condition
- Property condition: 21+ Years
- Year built: 1976
Materials
- Construction materials: Brick
Type & Style
- Home type: MultiFamily
- Property subType: Multi Family,Apartment
Interior
Appliances
- Appliances included: Water Softener
Basement
- Has basement: Yes
- Basement: Full
Heating
- Heating features: Other,Radiant/Electric
Property
Details
- Parcel number: 060612102553
- Zoning: R3
Features
- Levels: Two
- Stories: 2
Lot
- Lot size: 0.32 Acres
Parking
- Parking features: 1 Space
Climate Risk is Financial Risk
Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.
Biggest Threats for This Home
- Cold Wave
- Hail
- Tornado
- Heat Wave
- Inland Flooding
- Lightning
- Strong Wind
- Winter Weather
How This Home’s Risks Compare
FEMA Declared Disasters Across Wisconsin Counties
Understanding the Costs
Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.
Estimated Costs Today
| Monthly | Annual | |
|---|---|---|
| Mortgage | $6,699 | $80,388 |
| Home Insurance * | $430 | $5,160 |
| Property Taxes | $1,733 | $20,796 |
| Electricity | $300 | $3,608 |
| Total | $9,162 | $109,944 |
Income You'd Need if You Spent...
Wisconsin FAIR Plan Programs
How Costs Could Change Over Time
Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
Median Price Per Square Foot
The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.
Historicals for This Listing
Zestimate History ($/sqft)
Price History
| Date | Event | Price |
|---|---|---|
| 2026-04-06 | Price change | $1,325,000 |
| 2026-02-23 | Listed for sale | $1,375,000 |
| 2023-05-12 | Sold | $1,050,000 |
| 2023-04-24 | Pending sale | $1,100,000 |
| 2023-03-15 | Contingent | $1,100,000 |
| 2023-02-28 | Listed for sale | $1,100,000 |
| 2022-11-13 | Listing removed | -- |
| 2022-10-13 | Price change | $1,143 |
| 2022-09-12 | Price change | $1,125 |
| 2022-08-12 | Listed for rent | $1,095 |
| 2021-10-29 | Sold | $800,000 |
| 2021-09-22 | Pending sale | $799,900 |
| 2021-09-17 | Listed for sale | $799,900 |
View on Zillow