Duplex with Private
For Sale
Under Contract
$650,000
136 - 138 Northside Drive, Shelburne, VT 05482
Multi-Family, Shelburne, VT
Property Size2,380 SF
Lot Size0.78 Acres
Price / SF$273.11
Days on Market73
Property Features for 136 - 138 Northside Drive
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RES
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 4, Bedroom 2, Basement, Bathroom 2, Bedroom 1, Bedroom 3, Bathroom 1, Bathroom 4, Bathroom 3
Parking features
Driveway
Patio and Porch features
Deck
Exterior features
Deck, Shed
Lot features
Country Setting, Level, Near Shopping, Near Public Transport, Near School(s)
Elementary school
Shelburne Community School
Middle school
Shelburne Community School
High school
Champlain Valley UHSD #15
Elementary school district
Chittenden South
Middle school district
Chittenden South
High school district
Chittenden South
Directions
RT 7 / Shelburne Rd south. Left onto Executive Dr. Left onto Northside Dr. Property is on the right, look for sign.
Standard status
Active Under Contract
Size
2,380 SF
Lot size
0.78 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7564
Utilities
Utilities
Cable Available
Heating system
Natural Gas, Baseboard, Hot Water(Heating)
Water source
Public
Amenities
private deck
secured storage building
washer
dryer
dishwasher
stove
refrigerator
paved driveway
Building Details
Year built
2013
Floors in Building
2
Number of units
2
Flooring type
Vinyl, Carpet, Laminate
Building materials
Wood Frame, Vinyl Siding
Roof type
Shingle
Architectural style
Other
Listing Agency:
KW Vermont · Keller Williams Realty
(802) 654-8500
Listed By:
Cole Elwood
(802) 782-3490
Added: Jun 24
Changed: Sep 2
Last Checked: Sep 4 at 9:06AM
MLS# 5096548
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 2013, this duplex contains two matching townhouse-style residences, each with 2 bedrooms, 2 bathrooms, and 884 square feet. Both units include a washer, dryer, dishwasher, stove, and refrigerator, along with a private deck and access to a secured storage building. Separate electric, gas, and water meters support independent utility management, while natural-gas hot-water baseboard heating serves the residences.
The property occupies a level 0.78-acre lot in Shelburne with a stream crossing the grounds. Public water and sewer, a paved driveway, and ample parking add practical infrastructure. One unit is leased and the second is vacant, allowing immediate occupancy or owner-use. RES zoning applies, and the property is located near shopping, public transportation, and everyday amenities.
The property occupies a level 0.78-acre lot in Shelburne with a stream crossing the grounds. Public water and sewer, a paved driveway, and ample parking add practical infrastructure. One unit is leased and the second is vacant, allowing immediate occupancy or owner-use. RES zoning applies, and the property is located near shopping, public transportation, and everyday amenities.
Key Highlights
- Two identical 2‑bedroom, 2‑bath townhouse units with 884 square feet each
- Built in 2013 on a level 0.78‑acre lot
- Separate electric, gas, and water meters for each unit
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
$26,286
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
4.04%
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%
$525,720
$525.7K
Cap Rate 7%
$375,514
$375.5K
Cap Rate 9%
$292,067
$292.1K
Market Conditions
NOI Build-Up for 2,380 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
$38.0K $15.96/SF
− Vacancy
−$433 −$0.18/SF
EGI
$37.6K $15.78/SF
− OpEx
−$11.3K −$4.73/SF
NOI
$26.3K $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%
$525,720
Cap Rate 7%
$375,514
Cap Rate 9%
$292,067
Alternative Uses
Best Use
Multifamily LT 5
$375.5K
$328.6K – $438.1K
NOI $26,286 @ 7.0% cap · market cap 4.04%
Second Best
Apartment 5plus
$332.6K
$291.0K – $388.0K
NOI $23,279 @ 7.0% cap · market cap 3.58%
Theoretical Best
Office A
$652.8K
$571.2K – $761.6K
NOI $45,696 @ 7.0% cap · market cap 7.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
50%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
186
Businesses Nearby
Explore this area
Business Placement
Demographics for 05482, VT
7,751
Population
3,596
Households
2.2
Avg Household Size
48
Median Age
69%
College-Educated
97%
High-School Grad
24.3 sq mi
ZIP Area
319
Density / Sq Mi
$115,019
Median Household Income
$71,660
Median Earnings
$1,244
Median Rent
$515,800
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 - Two townhouse-style units offer separate utilities, full appliance packages, private outdoor space, and practical tenant-ready layouts.
Where is this duplex located?
The property is located at 136 - 138 Northside Drive Shelburne, VT.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Two identical 2‑bedroom, 2‑bath townhouse units with 884 square feet each; Built in 2013 on a level 0.78‑acre lot; Separate electric, gas, and water meters for each unit
