Owner-Occupied Duplex with
For Sale
$450,000
137 Jericho Road, Richmond, VT 05477
Multi-Family, Richmond, VT
Property Size2,150 SF
Lot Size0.23 Acres
Price / SF$209.30
Days on Market79
Property Features for 137 Jericho Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
VRNN
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 1, Bedroom 4, Bathroom 2, Bedroom 3, Basement, Bedroom 2
Patio and Porch features
Porch
Exterior features
Covered Porch
Appliances
Domestic Water Heater, Owned Water Heater, Water Heater off Boiler
Lot features
Curbing, Sidewalks, In Town, Near Shopping, Near School(s)
Elementary school
Richmond Elementary School
Middle school
Camels Hump Middle USD 17
High school
Mt. Mansfield USD #17
Elementary school district
Richmond School District
Middle school district
Richmond School District
High school district
Richmond School District
Standard status
Active
Size
2,150 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
6798
Utilities
Heating system
Hot Water(Heating), Natural Gas, Baseboard
Water source
Public
Building Details
Year built
1900
Floors in Building
2
Number of units
2
Flooring type
Hardwood, Carpet, Vinyl
Building materials
Wood Frame, Vinyl Siding
Roof type
Shingle
Architectural style
Other
Listing Agency:
Champagne Real Estate
(802) 372-4500
Listed By:
Andrea Champagne
(802) 862-4343
Added: Jun 21
Changed: Sep 6
Last Checked: Sep 7 at 5:06PM
MLS# 5095926
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.
This two-unit duplex offers 2,150 square feet on a 0.23-acre lot, with one residence occupied by the owner and the other previously rented. The property includes a covered porch, hardwood, carpet, and vinyl flooring, along with wood-frame construction, vinyl siding, a shingle roof, public water, and natural-gas baseboard and hot-water heating. Major renovations were completed in 2016, followed by a new roof, furnace, and hot water heater in 2023. Hardwood flooring was updated in 2018.
The property is located in Richmond near restaurants, a bakery, Richmond Market, schools, and stores, with I-89 approximately 1.5 miles away. Both units are identified as available for rental use, providing flexibility for an owner occupant or an investor.
The property is located in Richmond near restaurants, a bakery, Richmond Market, schools, and stores, with I-89 approximately 1.5 miles away. Both units are identified as available for rental use, providing flexibility for an owner occupant or an investor.
Key Highlights
- Duplex configuration with 2,150 square feet on a 0.23‑acre lot
- New roof, furnace, and hot water heater completed in 2023
- Major renovations completed in 2016 to meet FHA standards
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
$23,746
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
5.28%
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%
$474,920
$474.9K
Cap Rate 7%
$339,229
$339.2K
Cap Rate 9%
$263,844
$263.8K
Market Conditions
NOI Build-Up for 2,150 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
$34.3K $15.96/SF
− Vacancy
−$391 −$0.18/SF
EGI
$33.9K $15.78/SF
− OpEx
−$10.2K −$4.73/SF
NOI
$23.7K $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%
$474,920
Cap Rate 7%
$339,229
Cap Rate 9%
$263,844
Alternative Uses
Best Use
Multifamily LT 5
$339.2K
$296.8K – $395.8K
NOI $23,746 @ 7.0% cap · market cap 5.28%
Second Best
Apartment 5plus
$300.4K
$262.9K – $350.5K
NOI $21,030 @ 7.0% cap · market cap 4.67%
Theoretical Best
Office A
$589.7K
$516.0K – $688.0K
NOI $41,280 @ 7.0% cap · market cap 9.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
198
Businesses Nearby
Explore this area
Business Placement
Demographics for 05477, VT
4,551
Population
2,111
Households
2.2
Avg Household Size
42
Median Age
64%
College-Educated
98%
High-School Grad
33.4 sq mi
ZIP Area
136
Density / Sq Mi
$118,214
Median Household Income
$58,329
Median Earnings
$1,188
Median Rent
$403,800
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-unit property with recent major-system updates and convenient access to local dining, retail, schools, and I-89.
Where is this duplex located?
The property is located at 137 Jericho Road Richmond, VT.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Duplex configuration with 2,150 square feet on a 0.23‑acre lot; New roof, furnace, and hot water heater completed in 2023; Major renovations completed in 2016 to meet FHA standards
