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    1 Nickwackett Street Rutland, VT 05701

    View on Map
    For Sale
    $589,000

    Multi-Family - Rutland City, VT

    Property size:
    4,959 SF
    Lot size:
    0.14 Acres
    Added:
    Feb 16, 2026
    Days on Market:
    49
    Last Refresh:
    Apr 6 at 10:06 am

    Property Features for 1 Nickwackett Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    Residential / Commercial
    Bedrooms
    11
    Bathrooms
    6
    Rooms
    Basement, Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bathroom 5, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
    Basement Y/N
    1
    Appliances
    Range, Refrigerator
    Standard status
    Active
    Size
    4,959 SF
    Lot size
    0.14 Acres

    Taxes and HOA fees

    Tax Year
    2026
    Tax Annual Amount
    5949.8

    Utilities

    Heating system
    Baseboard
    Cooling system
    Multi Units

    Building Details

    Year built
    1900
    Floors in Building
    2
    Number of units
    3
    Flooring type
    Carpet, Laminate, Tile
    Roof type
    Asphalt, Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    Erin Shimp

    Listing agent Erin Shimp

    Listing office Engel & Volkers Okemo 126 Main Street Ste 1A., Ludlow, VT

    Listing date Feb 16, 2026

    MLS# 5076867 Listing URL

    Copyright © 2026 PrimeMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Renovated Triplex in Rutland City

    Located in Historic Rutland City, this renovated triplex presents a turnkey investment opportunity. The property features 11 bedrooms and 6 full bathrooms, configured for dormitory-style living, and can accommodate up to 20 occupants. The building has been updated for function, durability, and long-term performance. Recent improvements include a reconfigured layout with updated electrical and plumbing/heating systems, renovated bathrooms, new laminate flooring and carpet, stainless steel appliances, and two coin-operated laundry facilities. All furnishings are included with the sale. The property currently operates with rental contracts and provides immediate cash flow. The layout and capacity make it suitable for workforce housing, corporate housing, group accommodations, or shared-living arrangements. Situated in Historic Rutland City, within the TIF District, the property is close to downtown amenities, transit, employers, and area attractions. The property size is 4959 square feet, situated on a 0.14-acre lot.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Corsones & Corsones Law Firm Vermont Institute of Music Vocational School Well Within Holistic ... Gym & Fitness Center Corsones Theodore Law Firm Killington Rutland Area ... Alternative Medicine Practice

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Rutland
    County
    Orleans
    State
    Vermont
    Longitude
    -72.9735706
    Latitude
    43.606727

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    FAQs

    What type of property is this?
    Triplex - Turnkey, income-producing triplex in Historic Rutland City.
    Where is this triplex located?
    The property is located at 1 Nickwackett Street Rutland, VT.
    What is the asking price?
    The asking price for this property is $589,000.
    What are key features of this property?
    This property features: Turnkey, income‑producing triplex with established rental contracts offering immediate cash flow.; Fully renovated with updated electrical, plumbing/heating, bathrooms, flooring, and appliances.; High‑efficiency, dormitory‑style layout accommodating up to 20 occupants.
    (802) 236-5431
    We can help!
    Listing Contact
    Erin Shimp
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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