Duplex Residence with Private
For Sale
$439,000
10-12 Shelburne Street, Burlington, VT 05401
Two-level residence with 2-bed/1-bath first floor and private rear entry to a 1-bed/1-bath suite.
Property Size2,008 SF
Price / SF$218.63
Days on Market146
Property Features for 10-12 Shelburne Street
General Information
Standard status
Active
Size
2,008 SF
Total Parking Spaces
1
Property subtype
Multi Family
Zoning
R2 - 2 Family
Additional Details
Fenced Yard
Yes
Taxes and HOA fees
Annual Taxes
$10,552
Amenities
Cans, Curbside, Municipal, Owner, Recycle
Natural Gas, Forced Air, Hot Air
Yes
Carpet, Combination, Concrete, Laminate, Other, Tile, Vinyl, Wood
Natural Gas Water Heater
2
1
Interior
Climate Controlled, Concrete Floor, Full, Insulated, Other, Partially Finished, Interior Stairs, Storage Space, Interior Access, Exterior Access, Basement Stairs
8
Asphalt Shingle
Grey/White
Wood Frame, Clapboard Exterior, Wood Exterior, Wood Siding
Building Details
Year Built
1899
Listing Agency:
KW Vermont
Listed By:
idENTITY real estate group
(802) 999-8410
Source:
Compass
Added: Apr 18
Changed: Sep 8
Last Checked: Sep 10 at 12:13PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of KW Vermont
Investment Insights
Based on property information with market context.
This well-maintained, income-flexible residence offers approximately 2,008 sq. ft. of finished living space above grade with a layout that supports separate occupancy. The first floor features 2 bedrooms and 1 bathroom, while the second floor provides a private 1-bedroom, 1-bathroom suite. A dedicated rear entrance is already in place for split-occupancy.
Outside, the property includes an expansive front porch and a 3-season rear sunroom, plus a fenced backyard. An attached 1-car garage is currently being used as a large storage room, and the home also has a full basement with additional utility space that is partially finished. The location is in Burlington’s South End, with access to the Pine Street corridor, the South End Arts District, and City Market, along with proximity to the Burlington Bike Path and Oakledge Park.
Outside, the property includes an expansive front porch and a 3-season rear sunroom, plus a fenced backyard. An attached 1-car garage is currently being used as a large storage room, and the home also has a full basement with additional utility space that is partially finished. The location is in Burlington’s South End, with access to the Pine Street corridor, the South End Arts District, and City Market, along with proximity to the Burlington Bike Path and Oakledge Park.
Key Highlights
- Built in 1899 with 2,008 sq ft of finished living space above grade
- Flexible layout: First floor has 2 bedrooms and 1 bathroom; second floor has a private 1‑bedroom, 1‑bath suite
- Dedicated rear entrance already in place for split‑occupancy
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
$22,178
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
5.05%
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%
$443,560
$443.6K
Cap Rate 7%
$316,829
$316.8K
Cap Rate 9%
$246,422
$246.4K
Market Conditions
NOI Build-Up for 2,008 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
$32.0K $15.96/SF
− Vacancy
−$365 −$0.18/SF
EGI
$31.7K $15.78/SF
− OpEx
−$9.5K −$4.73/SF
NOI
$22.2K $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%
$443,560
Cap Rate 7%
$316,829
Cap Rate 9%
$246,422
Alternative Uses
Best Use
Multifamily LT 5
$316.8K
$277.2K – $369.6K
NOI $22,178 @ 7.0% cap · market cap 5.05%
Second Best
Apartment 5plus
$280.6K
$245.5K – $327.4K
NOI $19,641 @ 7.0% cap · market cap 4.47%
Theoretical Best
Office A
$550.8K
$481.9K – $642.6K
NOI $38,554 @ 7.0% cap · market cap 8.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
869
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-level residence with 2-bed/1-bath first floor and private rear entry to a 1-bed/1-bath suite.
Where is this duplex located?
The property is located at 10-12 Shelburne Street Burlington, VT.
What is the asking price?
The asking price for this property is $439,000.
What are key features of this property?
This property features: Built in 1899 with 2,008 sq ft of finished living space above grade; Flexible layout: First floor has 2 bedrooms and 1 bathroom; second floor has a private 1‑bedroom, 1‑bath suite; Dedicated rear entrance already in place for split‑occupancy
