Two-Unit Duplex with Private
For Sale
$800,000
59-61 Church Street #2, Richmond, VT 05477
Built in 1900, this two-story duplex offers two townhouse-style units with private decks, multiple living spaces, and a shared backyard.
Property Size2,560 SF
Price / SF$216.22
Days on Market23
Property Features for 59-61 Church Street #2
General Information
Standard status
Active
Size
2,560 SF
Total Parking Spaces
2
Property subtype
Multi Family Home
Zoning
Residential
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$9,770
Amenities
private deck
backyard
Building Details
Building Size
2,560 SF
Year Built
1900
Stories
2
Units
2
Tenancy
Multi
Listing Agency:
Re/Max North Professionals
(802) 655-3333
Listed By:
Linda St. Amour
Source:
Threehillsres
Added: Jul 21
Changed: Aug 8
Last Checked: Aug 11 at 2:31PM
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 Re/Max North Professionals
Investment Insights
Based on property information with market context.
This two-story duplex built in 1900 features a townhouse-style side-by-side layout, with each unit having nearly 1,300 square feet. Both units include 3 bedrooms, separate and spacious dining and living rooms, and a 3/4 bath on each floor. Original character details are highlighted by high ceilings, original trim, and most of the original hardwood and softwood floors, with large windows contributing to a bright feel. Each unit also includes a private deck and access to a backyard, and there is a 2-car garage use on one side.
The property is located on Church Street in the Richmond Village area on a dead-end street, within walking distance to village conveniences including the Library, Post Office, Village Green, Richmond Market, restaurants, and a bakery.
The configuration supports owner-occupant use, while the side-by-side arrangement provides clear separation between the two units and their respective interior layouts.
The property is located on Church Street in the Richmond Village area on a dead-end street, within walking distance to village conveniences including the Library, Post Office, Village Green, Richmond Market, restaurants, and a bakery.
The configuration supports owner-occupant use, while the side-by-side arrangement provides clear separation between the two units and their respective interior layouts.
Key Highlights
- Built in 1900, 2‑story duplex features townhouse‑style side‑by‑side units
- Each unit has nearly 1,300 SF with 3 bedrooms and a 3/4 bath on each floor
- Separate, spacious living and dining rooms in each unit
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
$40,865
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
5.11%
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%
$817,300
$817.3K
Cap Rate 7%
$583,786
$583.8K
Cap Rate 9%
$454,056
$454.1K
Market Conditions
NOI Build-Up for 3,700 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
$59.1K $15.96/SF
− Vacancy
−$673 −$0.18/SF
EGI
$58.4K $15.78/SF
− OpEx
−$17.5K −$4.73/SF
NOI
$40.9K $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%
$817,300
Cap Rate 7%
$583,786
Cap Rate 9%
$454,056
Alternative Uses
Best Use
Multifamily LT 5
$583.8K
$510.8K – $681.1K
NOI $40,865 @ 7.0% cap · market cap 5.11%
Second Best
Apartment 5plus
$517.0K
$452.4K – $603.2K
NOI $36,190 @ 7.0% cap · market cap 4.52%
Theoretical Best
Office A
$1.01M
$888.0K – $1.18M
NOI $71,040 @ 7.0% cap · market cap 8.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
204
Businesses Nearby
Explore this area
Business Placement
Demographics for 05477, VT
4,551
Population
2,111
Households
2.2
Avg Household Size
42
Median Age
64%
College-Educated
98%
High-School Grad
33.4 sq mi
ZIP Area
136
Density / Sq Mi
$118,214
Median Household Income
$58,329
Median Earnings
$1,188
Median Rent
$403,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Built in 1900, this two-story duplex offers two townhouse-style units with private decks, multiple living spaces, and a shared backyard.
Where is this duplex located?
The property is located at 59-61 Church Street #2 Richmond, VT.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: Built in 1900, 2‑story duplex features townhouse‑style side‑by‑side units; Each unit has nearly 1,300 SF with 3 bedrooms and a 3/4 bath on each floor; Separate, spacious living and dining rooms in each unit
