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    35 Spring St Newport City, VT 05855

    Sponsored
    For Sale
    Under Contract
    $249,000

    Multi-Family - Newport City, VT

    Property size:
    2,046 SF
    Lot size:
    0.24 Acres
    Days on Market:
    12
    Last Refresh:
    Feb 27 at 7:06 am

    Property Features for 35 Spring St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active Under Contract
    Zoning
    Yes - Newport City
    Rooms
    Basement, Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 3
    Bedrooms
    3
    Bathrooms
    2
    Parking features
    Paved or Surfaced
    EntryLevel
    Unit 1: 1,Unit 2: 2
    Basement Y/N
    1
    Appliances
    Range, Refrigerator
    Size
    2,046 SF
    Lot size
    0.24 Acres

    Utilities

    Heating system
    Natural Gas

    Building Details

    Year built
    1900
    Floors in Building
    1.75
    Number of units
    2
    Flooring type
    Carpet, Hardwood, Laminate, Vinyl
    Roof type
    Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    Craig Crawford

    Jim Campbell Real Estate (802) 334-3400

    Listing agent Craig Crawford (802) 334-3400

    Listing date Feb 16, 2026

    MLS# 5073702 Listing URL

    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.

    Learn more

    Property Insight Report

    Overview

    Newport City Multi-Family Investment Property

    This two-unit investment property is located on a 0.24-acre lot in Newport City. Renovations completed since 2014 include new electrical systems with hardwired smoke/carbon detectors and separate panels for each unit, new plumbing with washer/dryer hookups, and a hot air heating system for the first-floor unit, complemented by two gas-vented Rinnai units in the second-floor unit. Spray foam insulation has been installed in the basement and crawl space. The kitchens, bathrooms, and appliances have been updated, and fire-rated sheetrock, new flooring, and refinished hardwood floors have been added to the first-floor unit. Additional features include a metal roof, vinyl siding, and a paved driveway. The first-floor unit includes a fully applianced kitchen, a large living/dining area with hardwood flooring and natural light from several windows, two bedrooms, and a 3/4 bathroom. The second-story unit offers a fully applianced kitchen, a living area, a bedroom, and a 3/4 bathroom. The property size is 2046 square feet. The first-floor unit currently rents for $950.00, and the second-story unit rents for $850.00, with the owner covering heat, trash, lawn care, and water/sewer for both units. The property is zoned as Newport City.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Restaurant Big Box & Wholesale Store Nail Salon Auto Parts Store (Bike/Boat/Book/etc) Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Newport City
    County
    Orleans
    State
    Vermont
    Longitude
    -72.2004
    Latitude
    44.9201

    Nearby Similar for Sale

    • $259,500
      1,661 SF

      Versatile Duplex in Newport City

      Duplex with investment potential near hospital, restaurants, shops, and schools.
      99 Northern Ave, Newport City, VT 05855
      View Details

    FAQs

    What type of property is this?
    Duplex - Two-unit investment property in Newport City with numerous renovations.
    Where is this duplex located?
    The property is located at 35 Spring St Newport City, VT.
    What is the asking price?
    The asking price for this property is $249,000.
    What are key features of this property?
    This property features: - Income-generating 2-unit property with existing tenants and rental income.; - Extensive renovations since 2014 including new electrical, plumbing, updated kitchens and baths.; - Separate heating systems: hot air for the first floor and Rinnai units for the second floor.
    (802) 334-3400
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    35 Spring St Newport City, VT 05855
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    Newport City, VT 05855
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    35 Spring St Newport City, VT 05855
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    We can help!
    Listing Contact
    Craig Crawford
    (802) 334-3400 (802) 249-5200
    Learn more
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