Duplex with Covered
For Sale
$599,900
47-49 Greene Street, Burlington, VT 05401
Multi-Family, Burlington, VT
Property Size1,976 SF
Lot Size0.08 Acres
Price / SF$303.59
Days on Market90
Property Features for 47-49 Greene Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-2
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 4, Basement, Bedroom 2, Bedroom 6, Bedroom 5, Bathroom 1, Bedroom 1, Bathroom 2
Parking features
Driveway
Patio and Porch features
Porch
Exterior features
Covered Porch
Lot features
Near Shopping, Near Public Transport
Elementary school district
Burlington School District
Middle school district
Burlington School District
High school district
Burlington School District
Directions
From Loomis Street, turn left onto Greene Street and the property is on the right.
Standard status
Active
Size
1,976 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
9593
Utilities
Utilities
Cable Available
Heating system
Natural Gas
Water source
Public
Building Details
Year built
1899
Floors in Building
2
Number of units
2
Flooring type
Hardwood
Building materials
Wood Frame, Clapboard Exterior, Wood Siding
Roof type
Slate
Architectural style
Other
Listing Agency:
Geri Reilly Real Estate
(802) 862-6677
Listed By:
Geri Reilly
(802) 307-9611
Added: Jun 16
Changed: Sep 12
Last Checked: Sep 13 at 4:06AM
MLS# 5094975
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 1,976-square-foot duplex, built in 1899, contains two three-bedroom, one-bath residences. The first-floor unit is vacant and includes a covered front porch, hardwood flooring, French doors, and basement access. The upper unit has hardwood floors and its own rear porch, with a lease extending through the end of July. Each residence is served by separate utilities.
The property occupies 0.08 acres in Burlington, Vermont, with driveway parking for up to four vehicles and a manageable yard. Basement laundry hookups add practical support space. Additional features include wood-frame construction with clapboard and wood siding, slate roofing, natural-gas heat, public water, and cable availability. The property is zoned R-2 and is located near UVM, the UVM Medical Center, local colleges, Church Street Marketplace, and the Burlington Waterfront.
The property occupies 0.08 acres in Burlington, Vermont, with driveway parking for up to four vehicles and a manageable yard. Basement laundry hookups add practical support space. Additional features include wood-frame construction with clapboard and wood siding, slate roofing, natural-gas heat, public water, and cable availability. The property is zoned R-2 and is located near UVM, the UVM Medical Center, local colleges, Church Street Marketplace, and the Burlington Waterfront.
Key Highlights
- Two three‑bedroom, one‑bath units with separate utilities
- 1,976 square feet on 0.08 acres
- First‑floor residence is vacant; upper unit leased through the end of July
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
$21,824
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
3.64%
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%
$436,480
$436.5K
Cap Rate 7%
$311,771
$311.8K
Cap Rate 9%
$242,489
$242.5K
Market Conditions
NOI Build-Up for 1,976 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
$31.5K $15.96/SF
− Vacancy
−$360 −$0.18/SF
EGI
$31.2K $15.78/SF
− OpEx
−$9.4K −$4.73/SF
NOI
$21.8K $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%
$436,480
Cap Rate 7%
$311,771
Cap Rate 9%
$242,489
Alternative Uses
Best Use
Multifamily LT 5
$311.8K
$272.8K – $363.7K
NOI $21,824 @ 7.0% cap · market cap 3.64%
Second Best
Apartment 5plus
$276.1K
$241.6K – $322.1K
NOI $19,328 @ 7.0% cap · market cap 3.22%
Theoretical Best
Office A
$542.0K
$474.2K – $632.3K
NOI $37,939 @ 7.0% cap · market cap 6.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two three-bedroom units feature hardwood flooring, separate utilities, basement laundry hookups, and off-street driveway parking.
Where is this duplex located?
The property is located at 47-49 Greene Street Burlington, VT.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: Two three‑bedroom, one‑bath units with separate utilities; 1,976 square feet on 0.08 acres; First‑floor residence is vacant; upper unit leased through the end of July
