Two-Building Multifamily
1295 & 1297 Route 149 Pawlet, VT 05761
For Sale
$749,000
MULTI_FAMILY - Other - Pawlet, VT
Property Size4,231 SF
Lot Size0.46 Acres
Price / SF$177.03
Days on Market185
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
- Bathroom 6, Basement, Bathroom 4, Bedroom 7, Bathroom 1, Bedroom 3, Bedroom 2, Bedroom 1, Bedroom 5, Bathroom 5, Bedroom 6, Bathroom 7, Bedroom 4, Bathroom 3, Bathroom 2
- 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
- Hot Water(Heating), Oil, Baseboard
- Water source
- Public
Building Details
- Year built
- 1920
- Floors in Building
- 2
- Number of units
- 7
- Flooring type
- Carpet, Laminate, Vinyl, Tile
- Building materials
- Wood Frame, Clapboard Exterior, Wood Exterior
- Roof type
- Slate, Shingle, Metal
- Architectural style
- Other
Listing Agency:
Westside Real Estate
(802) 438-5341
Listed By:
Melissa Loughan
(802) 438-5341
Added: Jan 19
Changed: Jun 23
Last Checked: Jul 23 at 7:06PM
MLS# 5074393
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.
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.
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.
Key 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
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $68.5k | $16.20 |
| − Vacancy | −$1.4k | −$0.32 |
| EGI | $67.2k | $15.88 |
| − OpEx | −$30.2k | −$7.14 |
| NOI | $36.9k | $8.73 |
4,231 SF · lease $16.20/SF/yr · vacancy 2.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$527.8K
$461.8K – $615.7K
NOI $36,944 @ 7.0% cap · market cap 4.93%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$736.7K
$644.6K – $859.5K
NOI $51,567 @ 7.0% cap · market cap 6.88%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
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
