# Theory Madison

> Rent history and availability for Theory Madison at 427 N Lake St, Madison, WI 53715, tracked daily, with estimated building revenue. Verified Nov 8, 2026.

Canonical: https://average-rent.com/city/madison-wi/theory-madison-madison-wi/

![Theory Madison apartments in Madison, WI](https://average-rent.com/api/photo/p/18312?w=1200)

Updated today at 3:11 a.m. CT

[Student housing](https://average-rent.com/city/madison-wi/apartments/?exclude=student)

4.8 (25 reviews) [Official Website](https://theorymadison.com/?utm_source=gmb&utm_medium=organic&utm_campaign=gmb_listing&hyly_channel=pr&hyly_method=w) [(920) 441-4081](tel:%28920%29 441-4081)

## Theory Madison leases by the bed, from $1,066 per bed

Each rent is for one bed in a shared apartment, not for the whole apartment. These rents are not counted in the prices, averages or trends on this page or for Madison, WI.

Rents per bed at Theory Madison | Listing | Apartment | Sq ft | Rent per bed |
| --- | --- | --- | --- |
| 1 | Studio | 398 | $2,107 |
| 2 | Studio | 398 | $2,157 |
| 9 | 2 bd | 956 | $1,196 |
| 10 | 2 bd | 956 | $1,246 |
| 7 | 2 bd | 654 | $1,719 |
| 5 | 2 bd | 654 | $1,726 |
| 8 | 2 bd | 654 | $1,769 |
| 6 | 2 bd | 654 | $1,776 |
| 15 | 2 bd | 684 | $1,794 |
| 13 | 2 bd | 684 | $1,801 |
| 16 | 2 bd | 684 | $1,844 |
| 14 | 2 bd | 684 | $1,851 |
| 53 | 4 bd | 1,305 | $1,066 |
| 59 | 4 bd | 1,431 | $1,069 |
| 57 | 4 bd | 1,431 | $1,076 |
| 23 | 4 bd | 1,066 | $1,399 |
| 19 | 4 bd | 1,066 | $1,406 |
| 41 | 4 bd | 1,215 | $1,436 |
| 33 | 4 bd | 1,190 | $1,446 |
| 24 | 4 bd | 1,066 | $1,449 |
| 20 | 4 bd | 1,066 | $1,456 |
| 21 | 4 bd | 1,066 | $1,499 |
| 17 | 4 bd | 1,066 | $1,506 |
| 42 | 4 bd | 1,215 | $1,511 |
| 34 | 4 bd | 1,190 | $1,521 |
| 22 | 4 bd | 1,066 | $1,549 |
| 18 | 4 bd | 1,066 | $1,556 |
| 49 | 4 bd | 1,275 | $1,566 |
| 31 | 4 bd | 1,190 | $1,566 |
| 39 | 4 bd | 1,215 | $1,566 |
| 56 | 4 bd | 1,305 | $1,574 |
| 54 | 4 bd | 1,305 | $1,581 |
| 30 | 4 bd | 1,223 | $1,599 |
| 27 | 4 bd | 1,223 | $1,606 |
| 58 | 4 bd | 1,431 | $1,621 |
| 47 | 4 bd | 1,275 | $1,641 |
| 32 | 4 bd | 1,190 | $1,641 |
| 28 | 4 bd | 1,223 | $1,674 |
| 25 | 4 bd | 1,223 | $1,681 |
| 48 | 4 bd | 1,275 | $1,716 |
| 29 | 4 bd | 1,223 | $1,749 |
| 26 | 4 bd | 1,223 | $1,756 |

0

Units Listed

How does this compare? [View Tenney-Lapham rent trends](https://average-rent.com/city/madison-wi/trends/53703/)

## Price History

Lines hold the last known price between updates. Diamond markers show changes in quote terms.

Timeframe

### Property Price Trend

### Recorded building rent history

| Date or category | Average monthly rent (USD) |
| --- | --- |
| 2026-09-13 | 1,730 |
| 2026-09-14 | 1,730 |
| 2026-09-15 | 1,730 |
| 2026-09-16 | 1,579 |
| 2026-09-17 | 1,579 |
| 2026-09-18 | 1,579 |
| 2026-09-19 | 1,579 |
| 2026-09-20 | 1,579 |
| 2026-09-21 | 1,579 |
| 2026-09-22 | 1,637 |
| 2026-09-23 | 1,485 |
| 2026-09-24 | 1,503 |
| 2026-09-25 | 1,503 |
| 2026-09-26 | 1,590 |
| 2026-09-27 | 1,590 |
| 2026-09-28 | 1,590 |
| 2026-09-29 | 1,590 |
| 2026-09-30 | 1,612 |
| 2026-10-01 | 1,602 |
| 2026-10-02 | 1,615 |
| 2026-10-03 | 1,615 |
| 2026-10-04 | 1,615 |
| 2026-10-05 | 1,615 |
| 2026-10-06 | 1,615 |
| 2026-10-07 | 1,615 |

## Estimated Building Revenue

Est. Monthly Revenue

$191K

$2.3M annual run rate

Modeled estimate

Est. Occupancy

100%

of about 121 units (modeled from leasing activity)

Effective Rent on New Leases

$1,578

average across tracked lease-offs

### Recent Lease Activity

121 units tracked; 121 assumed leased, 0 listed now

See which units leased, when they left the market, and the rent they leased at.

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## Property Intelligence

How is this calculated?

Negotiation Leverage Score (0-100)

Based on 5 observable signals from the property's listing data:

- +30 pts: 15+ units currently listed

- +25 pts: Active move-in specials

- +20 pts: Deep discounts (>$150/mo off)

- +15 pts: 5+ distinct floor plans

- +10 pts: 25+ units listed

All signals come directly from the property's own listings. Occupancy and building size appear only in the Estimated Building Revenue section, and only when the building size is stated by the property or our unit-level observation history is deep enough to model it.

Listed Units

0

Limited availability

0 floor plans

Move-in Specials

0

No active promotions

Negotiation Leverage

Limited leverage

The available listings show few signs of room to negotiate.

### Nearby rents in Tenney-Lapham

Neighborhood

[Wiedenbeck Apartments](https://average-rent.com/city/madison-wi/wiedenbeck-apartments-madison-wi/): $815

[Pres House Apartments](https://average-rent.com/city/madison-wi/pres-house-apartments-madison-wi/): $1,095

[Capitol Centre Court Apartments](https://average-rent.com/city/madison-wi/capitol-centre-court-apartments-madison-wi/): $1,255

[The Edge](https://average-rent.com/city/madison-wi/the-edge-madison-wi/): $1,475

[SEVEN27 at The Yards](https://average-rent.com/city/madison-wi/seven27-at-the-yards-madison-wi/): $1,485

[City Gables Apartments](https://average-rent.com/city/madison-wi/city-gables-apartments-madison-wi/): $1,495

[Quarter Row at The Yards](https://average-rent.com/city/madison-wi/quarter-row-at-the-yards-madison-wi/): $1,515

[Butler Plaza LLC](https://average-rent.com/city/madison-wi/butler-plaza-llc-madison-wi/): $1,525

[Avenir](https://average-rent.com/city/madison-wi/avenir-madison-wi/): $1,530

[The Waterfront Apartments](https://average-rent.com/city/madison-wi/the-waterfront-apartments-madison-wi/): $1,563

Comparing 10 apartments in Tenney-Lapham. Click any bar to view that building.

[See Tenney-Lapham rent trends on the Madison, WI map](https://average-rent.com/city/madison-wi/rent-map/) [Explore Madison, WI on the interactive map](https://average-rent.com/search/#city=madison-wi)

## Garages and parking

Parking, wellness and pet policy details for this building are available to Pro members: garage type and any monthly fee, bike storage, EV charging, amenities such as a sauna or cold plunge, and stated pet rent and weight limits.

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## Train activity

### Train activity nearby

Freight line 1,812 ft away · 1 trains/day

- Daytime only (1 trains)

- No road crossing within earshot. Horns unlikely.

- Operator: WSOR

[Why this matters →](https://average-rent.com/how-it-works/#train-noise)

City Club

## Resident Notes & Access Codes

Real tips from people who lived at this property: what leasing and daily living are actually like, plus the gate, parking, and entry codes you only learn once you move in. [See all Madison, WI notes](https://average-rent.com/city/madison-wi/resident-access/)

No resident notes for this property yet.

## Similar Apartments in Madison, WI

[Wiedenbeck Apartments](https://average-rent.com/city/madison-wi/wiedenbeck-apartments-madison-wi/): ![Wiedenbeck Apartments apartments](https://average-rent.com/api/photo/p/20416?w=640) From $815/mo 4.7 rating 1 unit 0.4 mi away

[Avenir](https://average-rent.com/city/madison-wi/avenir-madison-wi/): ![Avenir apartments](https://average-rent.com/api/photo/p/20420?w=640) From $1,530/mo 5 rating 6 units 0.4 mi away

[Ovation 309](https://average-rent.com/city/madison-wi/ovation-309-madison-wi/): ![Ovation 309 apartments](https://average-rent.com/api/photo/p/4011?w=640) From $2,319/mo 4.5 rating 17 units 0.4 mi away

[306 West Apartments](https://average-rent.com/city/madison-wi/306-west-apartments-madison-wi/): ![306 West Apartments apartments](https://average-rent.com/api/photo/p/4012?w=640) From $1,925/mo 4.8 rating 4 units 0.6 mi away

[The Waterfront Apartments](https://average-rent.com/city/madison-wi/the-waterfront-apartments-madison-wi/): ![The Waterfront Apartments apartments](https://average-rent.com/api/photo/p/18316?w=640) From $1,563/mo 4.3 rating 2 units 0.3 mi away

[Quarter Row at The Yards](https://average-rent.com/city/madison-wi/quarter-row-at-the-yards-madison-wi/): ![Quarter Row at The Yards apartments](https://average-rent.com/api/photo/p/4019?w=640) From $1,515/mo 4.9 rating 20 units 0.6 mi away

### Tenney-Lapham Rent Trends

See how rent prices are changing in Tenney-Lapham and across Madison, WI.

[View Trends](https://average-rent.com/city/madison-wi/trends/53703/)