Colonial Duplex with
For Sale
Under Contract
$499,900
1186 Route 133, Ira, VT 05777
Multi-Family, Ira, VT
Property Size3,808 SF
Lot Size7.10 Acres
Price / SF$131.28
Days on Market392
Property Features for 1186 Route 133
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bedroom 1, Basement, Bedroom 3, Bathroom 3, Bedroom 4, Bathroom 2, Bedroom 2, Bedroom 5
Parking features
Garage, Driveway
Patio and Porch features
Deck, Patio
Exterior features
Barn, Deck, Outbuilding, Patio, Greenhouse
Appliances
Gas Water Heater
Lot features
Country Setting, Horse/ Animal Farm, Field/ Pasture, Sloping, Rural
Directions
Route 133 from West Rutland towards Ira. Go past Cross Road, property on right. Sign on Property.
Standard status
Active Under Contract
Size
3,808 SF
Lot size
7.10 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5297
Utilities
Utilities
Propane
Heating system
Oil, Baseboard, Forced Air, Pellet Stove, Propane (Heating)
Water source
Well, Spring
Amenities
greenhouse
barn with 4-stalls
shed
sewing room with skylights
eat-in kitchen
upgraded tile counters
first floor laundry
gas insert fireplace
entry mudroom
utility room
Building Details
Year built
1807
Floors in Building
3
Number of units
2
Flooring type
Vinyl, Hardwood, Softwood, Carpet
Building materials
Wood Frame
Roof type
Slate
Architectural style
Colonial
Additional Structures
Outbuilding, Greenhouse
Listing Agency:
Westside Real Estate
(802) 438-5341
Listed By:
Melissa Loughan
(802) 558-4367
Added: Aug 12, 2025
Changed: Sep 3
Last Checked: Sep 7 at 6:06PM
MLS# 5056159
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 1807, this 3,808-square-foot Colonial includes five bedrooms, with a separate one-bedroom in-law suite served by its own propane furnace. The residence features an eat-in kitchen with tile counters, formal dining and living rooms, first-floor laundry, three bathrooms, hardwood, softwood, vinyl, and carpet flooring, plus attic rooms and a skylit sewing room. An attached heated three-car garage has an 11-foot ceiling and 10-foot doors.
Set on 7.1 acres in Ira, the property includes a barn with four stalls and storage, a 12-foot by 25-foot greenhouse, shed, deck, patio, mudroom, and utility room. Water service includes a drilled well and shallow spring well, while the slate roof and vinyl siding provide established exterior materials. The property is near West Rutland, Rutland, skiing, shopping, and the lakes region.
Set on 7.1 acres in Ira, the property includes a barn with four stalls and storage, a 12-foot by 25-foot greenhouse, shed, deck, patio, mudroom, and utility room. Water service includes a drilled well and shallow spring well, while the slate roof and vinyl siding provide established exterior materials. The property is near West Rutland, Rutland, skiing, shopping, and the lakes region.
Key Highlights
- 3,808‑square‑foot Colonial built in 1807
- Five bedrooms, including a separate 1‑bedroom in‑law suite with its own propane furnace
- Attached heated 3‑car garage with 11' ceiling and 10' doors
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
$36,086
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
7.22%
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%
$721,720
$721.7K
Cap Rate 7%
$515,514
$515.5K
Cap Rate 9%
$400,956
$401.0K
Market Conditions
NOI Build-Up for 3,808 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
$52.6K $13.80/SF
− Vacancy
−$998 −$0.26/SF
EGI
$51.6K $13.54/SF
− OpEx
−$15.5K −$4.06/SF
NOI
$36.1K $9.48/SF
Area
Rutland County, VT
Vacancy
1.90%
Lease Rate
$13.80 /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%
$721,720
Cap Rate 7%
$515,514
Cap Rate 9%
$400,956
Alternative Uses
Best Use
Multifamily LT 5
$515.5K
$451.1K – $601.4K
NOI $36,086 @ 7.0% cap · market cap 7.22%
Second Best
Apartment 5plus
$475.0K
$415.6K – $554.2K
NOI $33,251 @ 7.0% cap · market cap 6.65%
Theoretical Best
Healthcare Medical
$663.0K
$580.1K – $773.5K
NOI $46,411 @ 7.0% cap · market cap 9.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
11
Businesses Nearby
Explore this area
Business Placement
Demographics for 05777, VT
3,100
Population
1,530
Households
2
Avg Household Size
46
Median Age
37%
College-Educated
94%
High-School Grad
44.5 sq mi
ZIP Area
70
Density / Sq Mi
$60,821
Median Household Income
$44,474
Median Earnings
$1,085
Median Rent
$193,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Colonial property with a one-bedroom in-law suite, attached heated garage, barn, greenhouse, and additional outbuildings.
Where is this duplex located?
The property is located at 1186 Route 133 Ira, VT.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: 3,808‑square‑foot Colonial built in 1807; Five bedrooms, including a separate 1‑bedroom in‑law suite with its own propane furnace; Attached heated 3‑car garage with 11' ceiling and 10' doors
