Duplex with Covered
For Sale
$439,000
10-12 Shelburne Street, Burlington, VT 05401
Multi-Family, Burlington, VT
Property Size2,008 SF
Lot Size0.06 Acres
Price / SF$218.63
Days on Market131
Property Features for 10-12 Shelburne Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R2 - 2 Family
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Basement, Bedroom 1, Bedroom 2, Bathroom 2, Bedroom 3
Parking features
Offsite, On Street, Garage
Patio and Porch features
Patio, Porch, Deck
Exterior features
Balcony, Deck, Full Fence, Garden Space, Natural Shade, Patio, Covered Porch, Storage
Fencing
Fenced
Appliances
Natural Gas Water Heater
Lot features
Curbing, Sidewalks, Street Lights, Trail/ Near Trail, Walking Trails, Near Paths, Near Shopping, Near Public Transport, Near Hospital, Near School(s)
Elementary school
Edmunds Elementary School
Middle school
Edmunds Middle School
High school
Burlington High School
Elementary school district
Burlington School District
Middle school district
Burlington School District
High school district
Burlington School District
Directions
*Plug in 10 Shelburne Road Burlington, VT in your Maps app to find location* Headed North on Shelburne Road, past the Roundabout off the 2nd exit, Continue North, Property on the Right side, Sign in front of property.
Standard status
Active
Size
2,008 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
10552
Utilities
Utilities
Cable Available
Heating system
Natural Gas, Forced Air
Water source
Public
Amenities
front porch
3-season rear sunroom
fenced backyard
full basement
Building Details
Year built
1899
Floors in Building
2
Number of units
2
Flooring type
Vinyl, Wood, Tile, Laminate, Carpet, Combination, Concrete
Building materials
Wood Frame, Clapboard Exterior, Wood Exterior, Wood Siding
Roof type
Shingle
Architectural style
Other
Additional Structures
Storage
Listing Agency:
KW Vermont · Keller Williams Realty
(802) 654-8500
Listed By:
idENTITY real estate group
(802) 999-8410
Added: Apr 27
Changed: Sep 2
Last Checked: Sep 4 at 1:06PM
MLS# 5085532
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.
Investment Insights
Based on property information with market context.
Built in 1899, this wood-frame property contains 2,008 square feet of finished living area above grade on a 0.06-acre parcel. The home is currently arranged as a three-bedroom, two-bath residence while retaining legal duplex zoning. The floor plan includes two bedrooms and one bathroom on the first level, plus a private one-bedroom suite with its own bathroom upstairs. A dedicated rear entry supports separate access between the levels.
Outdoor features include a covered front porch, rear three-season sunroom, deck, patio, garden space, and a fenced backyard with natural shade. The attached one-car garage is currently used for storage and can be returned to vehicle use. A full basement provides utility space along with partially finished area suitable for office or exercise use. Heating is provided by natural gas forced air, with public water service.
The property is located at 10-12 Shelburne Street in Burlington’s South End, near the Pine Street corridor, South End Arts District, local breweries, and City Market. Burlington Bike Path and Oakledge Park are also nearby.
Outdoor features include a covered front porch, rear three-season sunroom, deck, patio, garden space, and a fenced backyard with natural shade. The attached one-car garage is currently used for storage and can be returned to vehicle use. A full basement provides utility space along with partially finished area suitable for office or exercise use. Heating is provided by natural gas forced air, with public water service.
The property is located at 10-12 Shelburne Street in Burlington’s South End, near the Pine Street corridor, South End Arts District, local breweries, and City Market. Burlington Bike Path and Oakledge Park are also nearby.
Key Highlights
- 2,008 square feet of finished living space above grade on a 0.06‑acre parcel
- R2 - 2 Family zoning with a current three‑bedroom, two‑bath single‑family layout
- First floor offers 2 bedrooms and 1 bathroom; second floor has a 1‑bedroom, 1‑bath suite
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$22,178
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.05%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$443,560
$443.6K
Cap Rate 7%
$316,829
$316.8K
Cap Rate 9%
$246,422
$246.4K
Market Conditions
NOI Build-Up for 2,008 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$32.0K $15.96/SF
− Vacancy
−$365 −$0.18/SF
EGI
$31.7K $15.78/SF
− OpEx
−$9.5K −$4.73/SF
NOI
$22.2K $11.04/SF
Area
Chittenden County, VT
Vacancy
1.14%
Lease Rate
$15.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$443,560
Cap Rate 7%
$316,829
Cap Rate 9%
$246,422
Alternative Uses
Best Use
Multifamily LT 5
$316.8K
$277.2K – $369.6K
NOI $22,178 @ 7.0% cap · market cap 5.05%
Second Best
Apartment 5plus
$280.6K
$245.5K – $327.4K
NOI $19,641 @ 7.0% cap · market cap 4.47%
Theoretical Best
Office A
$550.8K
$481.9K – $642.6K
NOI $38,554 @ 7.0% cap · market cap 8.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
869
Businesses Nearby
Explore this area
Business Placement
Demographics for 05401, VT
32,059
Population
13,898
Households
2.3
Avg Household Size
28
Median Age
63%
College-Educated
95%
High-School Grad
6.1 sq mi
ZIP Area
5,256
Density / Sq Mi
$60,532
Median Household Income
$23,422
Median Earnings
$1,614
Median Rent
$463,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - R2 - 2 Family zoning, a separate rear entrance, and a layout that currently functions as a three-bedroom home.
Where is this duplex located?
The property is located at 10-12 Shelburne Street Burlington, VT.
What is the asking price?
The asking price for this property is $439,000.
What are key features of this property?
This property features: 2,008 square feet of finished living space above grade on a 0.06‑acre parcel; R2 - 2 Family zoning with a current three‑bedroom, two‑bath single‑family layout; First floor offers 2 bedrooms and 1 bathroom; second floor has a 1‑bedroom, 1‑bath suite
