Renovated Triplex with Covered
For Sale
$699,000
20 Greene Street, Burlington, VT 05401
Multi-Family, Burlington, VT
Property Size2,188 SF
Lot Size0.13 Acres
Price / SF$319.47
Days on Market166
Property Features for 20 Greene Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RM
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bedroom 4, Bedroom 3, Bedroom 6, Bedroom 1, Basement, Bedroom 2, Bathroom 2, Bedroom 5, Bathroom 3
Parking features
Off Street, Driveway
Patio and Porch features
Porch
Exterior features
Covered Porch
Appliances
Electric Water Heater, Owned Water Heater
Lot features
City Lot, Near Shopping, Near Public Transport, Near Hospital, Near School(s)
Middle school
Edmunds Middle School
High school
Burlington High School
Directions
From Pearl St. go onto Greene and property is on the right.
Standard status
Active
Size
2,188 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
10959
Utilities
Heating system
Natural Gas
Water source
Public
Amenities
front porch
Building Details
Year built
1910
Floors in Building
3
Number of units
3
Flooring type
Hardwood, Vinyl, Carpet
Building materials
Wood Frame, Aluminum Siding, Clapboard Exterior
Roof type
Slate
Architectural style
Other
Listing Agency:
BHHS Vermont Realty Group/Burlington · Berkshire Hathaway HomeServices
(802) 864-9856
Listed By:
Charles C. Burns
(802) 658-5555
Added: Mar 20
Changed: Aug 20
Last Checked: Sep 1 at 6:06PM
MLS# 5080549
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 triplex offers 2,188 square feet on a 0.13-acre lot, with six bedrooms, three bathrooms, and a basement. The 1910 property has undergone substantial recent renovations and includes a covered front porch, driveway parking, and additional off-street parking. Construction features a wood-frame structure with aluminum siding and clapboard exterior, while interior finishes include hardwood, vinyl, and carpet flooring.
The property is located in Burlington near the University of Vermont and downtown, with shopping nearby. RM zoning, public water service, natural-gas heating, and a slate roof complete the principal property details. Appliances include an electric water heater and an owned water heater.
The property is located in Burlington near the University of Vermont and downtown, with shopping nearby. RM zoning, public water service, natural-gas heating, and a slate roof complete the principal property details. Appliances include an electric water heater and an owned water heater.
Key Highlights
- Triplex with 2,188 square feet, six bedrooms, three bathrooms, and a basement
- 0.13‑acre lot with driveway and off‑street parking
- Substantial recent renovations and covered front porch
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
$24,166
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
3.46%
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%
$483,320
$483.3K
Cap Rate 7%
$345,229
$345.2K
Cap Rate 9%
$268,511
$268.5K
Market Conditions
NOI Build-Up for 2,188 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
$34.9K $15.96/SF
− Vacancy
−$398 −$0.18/SF
EGI
$34.5K $15.78/SF
− OpEx
−$10.4K −$4.73/SF
NOI
$24.2K $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%
$483,320
Cap Rate 7%
$345,229
Cap Rate 9%
$268,511
Alternative Uses
Best Use
Multifamily LT 5
$345.2K
$302.1K – $402.8K
NOI $24,166 @ 7.0% cap · market cap 3.46%
Second Best
Apartment 5plus
$305.7K
$267.5K – $356.7K
NOI $21,401 @ 7.0% cap · market cap 3.06%
Theoretical Best
Office A
$600.1K
$525.1K – $700.2K
NOI $42,010 @ 7.0% cap · market cap 6.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,556
Businesses Nearby
Explore this area
Business Placement
Demographics for 05401, VT
32,059
Population
13,898
Households
2.3
Avg Household Size
28
Median Age
63%
College-Educated
95%
High-School Grad
6.1 sq mi
ZIP Area
5,256
Density / Sq Mi
$60,532
Median Household Income
$23,422
Median Earnings
$1,614
Median Rent
$463,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three-unit residential property near UVM and downtown with off-street parking and a covered porch.
Where is this triplex located?
The property is located at 20 Greene Street Burlington, VT.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Triplex with 2,188 square feet, six bedrooms, three bathrooms, and a basement; 0.13‑acre lot with driveway and off‑street parking; Substantial recent renovations and covered front porch
