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    Two-Building Multifamily Property Title is generated by Realmo AI

    1295 & 1297 Route 149, Pawlet, VT 05761

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    For Sale
    $749,000

    MULTI_FAMILY - Other - Pawlet, VT

    Property size:
    4,231 SF
    Lot size:
    0.46 Acres
    Price / SF:
    $177/SF
    Added:
    Jan 19, 2026
    Days on Market:
    139
    Last Refresh:
    Jun 7 at 7:06 pm

    Property Features for 1295 & 1297 Route 149

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    Mixed Use
    Bedrooms
    7
    Bathrooms
    7
    Rooms
    Bedroom 5, Bathroom 2, Bedroom 3, Bathroom 4, Bathroom 7, Basement, Bedroom 2, Bedroom 7, Bathroom 6, Bedroom 6, Bathroom 1, Bedroom 1, Bedroom 4, Bathroom 3, Bathroom 5
    Parking features
    Off Street
    Patio and Porch features
    Deck, Porch
    Exterior features
    Deck, Porch
    Appliances
    Domestic Water Heater, Electric Water Heater
    Standard status
    Active
    Size
    4,231 SF
    Lot size
    0.46 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    5600

    Utilities

    Heating system
    Baseboard, Hot Water(Heating), Oil
    Water source
    Public

    Building Details

    Year built
    1920
    Floors in Building
    2
    Number of units
    7
    Flooring type
    Vinyl, Carpet, Tile, Laminate
    Building materials
    Wood Frame, Clapboard Exterior, Wood Exterior
    Roof type
    Metal, Slate, Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    Melissa Loughan
    Melissa Loughan

    Listing agent Melissa Loughan

    Listing office Westside Real Estate 98 Pine Hill Road, West Rutland, VT

    Listing date Jan 19, 2026

    MLS# 5074393 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.

    HighLights

    • Annual net income reported as $66,200 with heat included in all apartments
    • Includes two rental buildings on Route 149: a 3‑unit building (2x 1‑bedroom, 1x 2‑bedroom) and a 4‑1‑bedroom apartment building
    • 1295 Route 149 units: each apartment has its own forced hot air furnace and electric hot water heaters
    • 1297 Route 149: 5‑year low income program with approx. 3 years remaining; 4 one‑bedroom apartments
    • 1297 Route 149 updates include a new roof and total renovation, plus blown‑in insulation
    • Water and utilities: public water; propane boiler and domestic hot water; conventional septic for each building with ability to hook up to public sewer in the future

    Overview

    The offering includes two separate multifamily buildings on Route 149, comprising a three-unit structure at 1295 Route 149 and a four-unit structure at 1297 Route 149. At 1295, there are two one-bedroom apartments and one two-bedroom apartment, with each unit served by its own forced hot-air furnace and electric hot water heater. Heat is included in all apartments. At 1297, the building has four one-bedroom apartments and is noted as being in a five-year low-income program with approximately three years remaining, with a new roof and full renovation. Additional systems and improvements cited include blown-in insulation, a propane boiler and domestic hot water, and village water sourced from Granville, NY.

    Both buildings use conventional septic systems, with the ability to hook up to public sewer in the future. The seller’s remarks also note these are the last two houses in Vermont on the left, with proximity to Granville, NY.

    For tenants and operators, the configuration supports straightforward management across small, separately metered heating/hot water setups at 1295 and a renovated, program-in-place building at 1297. If you’re underwriting residency costs and utility responsibility, the stated “heat included” detail and the specific heating and hot-water arrangements at each property should help clarify budgeting and operations.
    Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Map

    City
    Pawlet
    County
    Rutland
    State
    Vermont
    Longitude
    -73.1761536
    Latitude
    43.3467634

    FAQs

    What type of property is this?
    Apartment building - Two Route 149 multifamily buildings offer unit-level heating and hot water systems with established water and septic services.
    Where is this apartment building located?
    The property is located at 1295 & 1297 Route 149 Pawlet, VT.
    What is the asking price?
    The asking price for this property is $749,000.
    What are key features of this property?
    This property features: Annual net income reported as $66,200 with heat included in all apartments; Includes two rental buildings on Route 149: a 3‑unit building (2x 1‑bedroom, 1x 2‑bedroom) and a 4‑1‑bedroom apartment building; 1295 Route 149 units: each apartment has its own forced hot air furnace and electric hot water heaters
    (802) 438-5341
    We can help!
    Listing Contact
    Melissa Loughan
    Melissa Loughan
    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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