Duplex with Outdoor
For Sale
Under Contract
$388,500
24 North Street, Essex Junction, VT 05452
Multi-Family, Essex Junction, VT
Property Size1,704 SF
Lot Size0.30 Acres
Price / SF$227.99
Days on Market48
Property Features for 24 North Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
residential
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Basement, Bathroom 1, Bedroom 2, Bathroom 2, Bedroom 3
Patio and Porch features
Deck, Porch
Exterior features
Deck, Full Fence, Partial Fence, Porch
Fencing
Partial, Fenced
Lot features
City Lot, Level, Neighborhood
Standard status
Active Under Contract
Size
1,704 SF
Lot size
0.30 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
7250
Utilities
Heating system
Other (Heating), Natural Gas, Forced Air
Water source
Public
Amenities
fenced backyard
side porch
attic storage
Building Details
Year built
1900
Floors in Building
2
Number of units
2
Flooring type
Vinyl, Softwood, Laminate
Building materials
Wood Frame
Roof type
Membrane, Shingle
Architectural style
Other
Listing Agency:
RE/MAX North Professionals · RE/MAX International
(802) 655-3333
Listed By:
Jason Lefebvre · License #81.0120682
(802) 355-0167
Added: Jul 28
Changed: Sep 12
Last Checked: Sep 13 at 9:06AM
MLS# 5102130
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.
Located at 24 North Street in Essex Junction, this wood-frame duplex contains 1,704 square feet across two residential units. The first-floor residence includes two bedrooms and approximately 984 square feet, while the second-floor apartment offers one bedroom and approximately 720 square feet. The property also includes unfinished attic storage, a side porch, and a deck.
The 0.30-acre parcel provides substantial outdoor area and off-street parking for multiple vehicles. Public water and sewer, natural-gas service, forced-air heating, and a combination of membrane and shingle roofing support the property's practical configuration. Shops, restaurants, schools, parks, and everyday amenities in Essex Junction are nearby.
The 0.30-acre parcel provides substantial outdoor area and off-street parking for multiple vehicles. Public water and sewer, natural-gas service, forced-air heating, and a combination of membrane and shingle roofing support the property's practical configuration. Shops, restaurants, schools, parks, and everyday amenities in Essex Junction are nearby.
Key Highlights
- Two‑unit duplex totaling 1,704 square feet
- 0.30‑acre lot with a large backyard
- First‑floor unit has 2 bedrooms and approximately 984 square feet
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
$18,820
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
4.84%
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%
$376,400
$376.4K
Cap Rate 7%
$268,857
$268.9K
Cap Rate 9%
$209,111
$209.1K
Market Conditions
NOI Build-Up for 1,704 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
$27.2K $15.96/SF
− Vacancy
−$310 −$0.18/SF
EGI
$26.9K $15.78/SF
− OpEx
−$8.1K −$4.73/SF
NOI
$18.8K $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%
$376,400
Cap Rate 7%
$268,857
Cap Rate 9%
$209,111
Alternative Uses
Best Use
Multifamily LT 5
$268.9K
$235.3K – $313.7K
NOI $18,820 @ 7.0% cap · market cap 4.84%
Second Best
Apartment 5plus
$238.1K
$208.3K – $277.8K
NOI $16,667 @ 7.0% cap · market cap 4.29%
Theoretical Best
Office A
$467.4K
$409.0K – $545.3K
NOI $32,717 @ 7.0% cap · market cap 8.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Single-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
675
Businesses Nearby
Explore this area
Business Placement
Demographics for 05452, VT
22,153
Population
9,808
Households
2.3
Avg Household Size
41
Median Age
54%
College-Educated
95%
High-School Grad
40.4 sq mi
ZIP Area
548
Density / Sq Mi
$97,697
Median Household Income
$55,997
Median Earnings
$1,463
Median Rent
$404,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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?
Duplex - Two-unit residential property with off-street parking, public utilities, and a large backyard.
Where is this duplex located?
The property is located at 24 North Street Essex Junction, VT.
What is the asking price?
The asking price for this property is $388,500.
What are key features of this property?
This property features: Two‑unit duplex totaling 1,704 square feet; 0.30‑acre lot with a large backyard; First‑floor unit has 2 bedrooms and approximately 984 square feet
