Turnkey Duplex Income
For Sale
$650,000
Pending
136-138 Northside Drive, Shelburne, VT 05482
Built in 2013, the duplex offers two identical 2-bedroom, 2-bath units with private decks and separate utilities.
Property Size2,380 SF
Lot Size0.78 Acres
Days on Market75
Property Features for 136-138 Northside Drive
General Information
Standard status
Pending
Size
2,380 SF
Lot size
0.78 Acres
Property subtype
Multi Family
Zoning
RES
Occupancy
50%
Additional Details
Utilities to Site
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,564
Amenities
private deck
secured storage building
paved driveway
Natural Gas, Baseboard, Hot Water
Yes
Carpet, Laminate, Vinyl
2
Interior
Concrete, Full, Partially Finished
8
Shingle
Grey
Wood Frame, Vinyl Siding
Building Details
Year Built
2013
Listing Agency:
KW Vermont
Listed By:
Cole Elwood
(802) 782-3490
Source:
Compass
Added: Jun 24
Changed: Aug 8
Last Checked: Jul 24 at 1:25PM
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.
Constructed in 2013 by Huntington Homes, this turnkey duplex includes two identical townhouse-style units, each with 2 bedrooms and 2 baths. Each unit is delivered with appliances including a washer, dryer, dishwasher, stove, and refrigerator, supporting straightforward leasing. The property also features private decks and a secured storage building, along with separate utility metering for electric, gas, and water so tenants cover their own usage. Natural gas heating and public water and sewer services are in place.
The duplex sits on a 0.78-acre lot with a paved driveway and ample parking. Public remarks note a Shelburne location with convenient access to shopping, public transportation, and everyday amenities.
Currently generating $49,800 in gross annual income with one unit leased and one vacant, providing flexibility for immediate occupancy or owner use.
The duplex sits on a 0.78-acre lot with a paved driveway and ample parking. Public remarks note a Shelburne location with convenient access to shopping, public transportation, and everyday amenities.
Currently generating $49,800 in gross annual income with one unit leased and one vacant, providing flexibility for immediate occupancy or owner use.
Key Highlights
- Duplex built in 2013 by Huntington Homes with two identical 2‑bedroom, 2‑bath townhouse‑style units
- 884 SF per unit; total 2 stories with 8 rooms above ground
- Each unit includes appliances: washer, dryer, dishwasher, stove, and refrigerator
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
$26,286
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
4.04%
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%
$525,720
$525.7K
Cap Rate 7%
$375,514
$375.5K
Cap Rate 9%
$292,067
$292.1K
Market Conditions
NOI Build-Up for 2,380 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
$38.0K $15.96/SF
− Vacancy
−$433 −$0.18/SF
EGI
$37.6K $15.78/SF
− OpEx
−$11.3K −$4.73/SF
NOI
$26.3K $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%
$525,720
Cap Rate 7%
$375,514
Cap Rate 9%
$292,067
Alternative Uses
Best Use
Multifamily LT 5
$375.5K
$328.6K – $438.1K
NOI $26,286 @ 7.0% cap · market cap 4.04%
Second Best
Apartment 5plus
$332.6K
$291.0K – $388.0K
NOI $23,279 @ 7.0% cap · market cap 3.58%
Theoretical Best
Office A
$652.8K
$571.2K – $761.6K
NOI $45,696 @ 7.0% cap · market cap 7.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
50%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
186
Businesses Nearby
Explore this area
Business Placement
Demographics for 05482, VT
7,751
Population
3,596
Households
2.2
Avg Household Size
48
Median Age
69%
College-Educated
97%
High-School Grad
24.3 sq mi
ZIP Area
319
Density / Sq Mi
$115,019
Median Household Income
$71,660
Median Earnings
$1,244
Median Rent
$515,800
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 2013, the duplex offers two identical 2-bedroom, 2-bath units with private decks and separate utilities.
Where is this duplex located?
The property is located at 136-138 Northside Drive Shelburne, VT.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Duplex built in 2013 by Huntington Homes with two identical 2‑bedroom, 2‑bath townhouse‑style units; 884 SF per unit; total 2 stories with 8 rooms above ground; Each unit includes appliances: washer, dryer, dishwasher, stove, and refrigerator
