4-Unit Quadplex with NMU
For Sale
$1,109,000
305-307 North Winooski Avenue, Burlington, VT 05401
Four matching three-bedroom units provide a consistent residential layout in Burlington’s multifamily market.
Property Size4,064 SF
Price / SF$272.88
Days on Market677
Property Features for 305-307 North Winooski Avenue
General Information
Standard status
Active
Size
4,064 SF
Property subtype
Multi Family
Zoning
NMU
Units
Unit Mix
4 x 3BR/1BA
Multifamily Units
4
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$25,417
Amenities
Cans, Curbside, Municipal, Owner, Recycle
Natural Gas, Gas Heater - Vented, Space Heater, Wall Units
Yes
Combination, Concrete, Hardwood, Laminate, Softwood, Tile
Water Heater – Owned, Water Heater – Separate
2
4
Interior
Concrete, Concrete Floor, Full, Interior Access, Stairs - Interior, Storage Space, Unfinished
20
Flat, Tar and Gravel
Seafoam
Balcony, Deck, Fence - Partial, Garden Space, Natural Shade, Other, Storage, Window Screens, Windows - Double Pane
Insulation-Cellulose, Wood Frame, Clapboard Exterior, Vinyl Exterior
Building Details
Year Built
1899
Listing Agency:
KW Vermont
(802) 999-8410
Listed By:
The Conroy
(802) 999-8410
Source:
Compass
Added: Oct 23, 2024
Changed: Aug 30
Last Checked: Aug 30 at 7:07PM
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.
Located at 305-307 North Winooski Avenue in Burlington, this 4,064-square-foot quadplex contains four residential units with the same three-bedroom, one-bathroom configuration. The building dates to 1899 and includes a mix of concrete, hardwood, laminate, softwood, and tile flooring, along with separate owned water heaters and wall-unit cooling. Exterior features include decks, balconies, partial fencing, garden space, storage, and double-pane windows.
The property is situated in Burlington’s O. N. E. area, near shops, restaurants, bars, cultural attractions, farmers’ markets, and local farms. Public transportation and area bike paths are also nearby. NMU zoning supports residential use along with neighborhood-serving commercial uses, subject to city approvals.
The property is situated in Burlington’s O. N. E. area, near shops, restaurants, bars, cultural attractions, farmers’ markets, and local farms. Public transportation and area bike paths are also nearby. NMU zoning supports residential use along with neighborhood-serving commercial uses, subject to city approvals.
Key Highlights
- 4,064‑square‑foot building with four residential units
- Each unit includes 3 bedrooms and 1 bathroom
- NMU zoning supports residential and neighborhood‑serving commercial uses, subject to city approvals
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
$44,885
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
4.05%
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%
$897,700
$897.7K
Cap Rate 7%
$641,214
$641.2K
Cap Rate 9%
$498,722
$498.7K
Market Conditions
NOI Build-Up for 4,064 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
$64.9K $15.96/SF
− Vacancy
−$739 −$0.18/SF
EGI
$64.1K $15.78/SF
− OpEx
−$19.2K −$4.73/SF
NOI
$44.9K $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%
$897,700
Cap Rate 7%
$641,214
Cap Rate 9%
$498,722
Alternative Uses
Best Use
Multifamily LT 5
$641.2K
$561.1K – $748.1K
NOI $44,885 @ 7.0% cap · market cap 4.05%
Second Best
Apartment 5plus
$567.9K
$496.9K – $662.5K
NOI $39,751 @ 7.0% cap · market cap 3.58%
Theoretical Best
Office A
$1.11M
$975.4K – $1.30M
NOI $78,029 @ 7.0% cap · market cap 7.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,154
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four matching three-bedroom units provide a consistent residential layout in Burlington’s multifamily market.
Where is this quadplex located?
The property is located at 305-307 North Winooski Avenue Burlington, VT.
What is the asking price?
The asking price for this property is $1,109,000.
What are key features of this property?
This property features: 4,064‑square‑foot building with four residential units; Each unit includes 3 bedrooms and 1 bathroom; NMU zoning supports residential and neighborhood‑serving commercial uses, subject to city approvals
