Renovated Four-Unit Multifamily
For Sale
$399,000
100 South Street, Rutland, VT 05701
Income-producing four-unit property with a two-bedroom and one-bedroom unit mix plus updated exterior components.
Property Size2,776 SF
Price / SF$143.73
Days on Market23
Property Features for 100 South Street
General Information
Standard status
Active
Size
2,776 SF
Property subtype
Multi-family
Units
Unit Mix
2 x 1BR, 2 x 2BR
Multifamily Units
4
Building Details
Year Built
1884
Listing Agency:
Watson Realty & Associates
Listed By:
Mike Kalil
(802) 422-3600
Source:
Killingtonpicorealty
Added: Sep 5
Changed: Sep 26
Last Checked: Sep 26 at 9:28AM
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 Watson Realty & Associates
Investment Insights
Based on property information with market context.
This four-unit multifamily property includes two one-bedroom apartments and two two-bedroom apartments, creating a balanced unit mix within a compact residential income asset. Improvements include new siding, replacement windows, and additional renovations throughout the property.
Built in 1884, the property contains 2,776 square feet and is currently producing income. The reported cap rate exceeds 12%, providing a specific operating metric for evaluating the asset.
Built in 1884, the property contains 2,776 square feet and is currently producing income. The reported cap rate exceeds 12%, providing a specific operating metric for evaluating the asset.
Key Highlights
- Four‑unit multifamily property with two one‑bedroom and two two‑bedroom units
- 2,776 square feet of residential income space
- New siding and windows included among extensive renovations
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
$26,307
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
6.59%
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%
$526,140
$526.1K
Cap Rate 7%
$375,814
$375.8K
Cap Rate 9%
$292,300
$292.3K
Market Conditions
NOI Build-Up for 2,776 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
$38.3K $13.80/SF
− Vacancy
−$728 −$0.26/SF
EGI
$37.6K $13.54/SF
− OpEx
−$11.3K −$4.06/SF
NOI
$26.3K $9.48/SF
Area
Rutland County, VT
Vacancy
1.90%
Lease Rate
$13.80 /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%
$526,140
Cap Rate 7%
$375,814
Cap Rate 9%
$292,300
Alternative Uses
Best Use
Multifamily LT 5
$375.8K
$328.8K – $438.5K
NOI $26,307 @ 7.0% cap · market cap 6.59%
Second Best
Apartment 5plus
$346.3K
$303.0K – $404.0K
NOI $24,239 @ 7.0% cap · market cap 6.07%
Theoretical Best
Healthcare Medical
$483.3K
$422.9K – $563.9K
NOI $33,833 @ 7.0% cap · market cap 8.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
973
Businesses Nearby
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Business Placement
Demographics for 05701, VT
20,349
Population
10,528
Households
1.9
Avg Household Size
48
Median Age
34%
College-Educated
93%
High-School Grad
67.7 sq mi
ZIP Area
301
Density / Sq Mi
$58,744
Median Household Income
$41,391
Median Earnings
$963
Median Rent
$202,800
Median Home Value
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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?
Quadplex - Income-producing four-unit property with a two-bedroom and one-bedroom unit mix plus updated exterior components.
Where is this quadplex located?
The property is located at 100 South Street Rutland, VT.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Four‑unit multifamily property with two one‑bedroom and two two‑bedroom units; 2,776 square feet of residential income space; New siding and windows included among extensive renovations
