Duplex with Covered
For Sale
$499,000
137 Jericho Road, Richmond, VT 05477
MULTI_FAMILY - Other - Richmond, VT
Property Size2,150 SF
Lot Size0.23 Acres
Price / SF$232.09
Days on Market49
Property Features for 137 Jericho Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
VRNN
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bedroom 4, Bedroom 1, Bathroom 2, Bedroom 3, Bedroom 2, Bathroom 1
Patio and Porch features
Porch
Exterior features
Covered Porch
Appliances
Domestic Water Heater, Owned Water Heater, Water Heater off Boiler
Lot features
Curbing, Sidewalks, In Town, Near Shopping, Near School(s)
Elementary school
Richmond Elementary School
Middle school
Camels Hump Middle USD 17
High school
Mt. Mansfield USD #17
Elementary school district
Richmond School District
Middle school district
Richmond School District
High school district
Richmond School District
Standard status
Active
Size
2,150 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
6798
Utilities
Heating system
Natural Gas, Hot Water(Heating), Baseboard
Water source
Public
Building Details
Year built
1900
Floors in Building
2
Number of units
2
Flooring type
Carpet, Hardwood, Vinyl
Building materials
Wood Frame, Vinyl Siding
Roof type
Shingle
Architectural style
Other
Listing Agency:
Champagne Real Estate
(802) 372-4500
Listed By:
Andrea Champagne
(802) 372-4500
Added: Jun 21
Changed: Aug 3
Last Checked: Aug 8 at 11:06AM
MLS# 5095926
Copyright © 2026 PrimeMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This duplex offers a flexible live-and-rent setup with one unit currently owner-occupied and the other unit rented; both units could be rented. The property includes a covered porch, public water service, and wood-frame construction with vinyl siding. Interior finishes include hardwood, carpet, and vinyl flooring. The home is heated with natural gas hot water and baseboard systems. Built in 1900, the roof is shingle.
Recent improvements include a new roof in 2023, along with a new furnace and hot water heater in 2023. Hardwood floors were installed in 2018, and major renovations in 2016 were completed to meet FHA standards. The layout includes two bedrooms per unit (as reflected in the room list), plus two bathrooms.
Set on a 0.23-acre lot with a total property size of 2,150 square feet, the duplex is positioned in the heart of Richmond, with walkable proximity to restaurants, a bakery, and Richmond Market, and convenience of 1.5 miles to I-89.
Recent improvements include a new roof in 2023, along with a new furnace and hot water heater in 2023. Hardwood floors were installed in 2018, and major renovations in 2016 were completed to meet FHA standards. The layout includes two bedrooms per unit (as reflected in the room list), plus two bathrooms.
Set on a 0.23-acre lot with a total property size of 2,150 square feet, the duplex is positioned in the heart of Richmond, with walkable proximity to restaurants, a bakery, and Richmond Market, and convenience of 1.5 miles to I-89.
Key Highlights
- 0.23‑acre lot with 2,150 SF total building size
- New roof in 2023, plus new furnace and hot water heater in 2023
- Hardwood floors installed in 2018
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
$23,746
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
4.76%
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%
$474,920
$474.9K
Cap Rate 7%
$339,229
$339.2K
Cap Rate 9%
$263,844
$263.8K
Market Conditions
NOI Build-Up for 2,150 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
$34.3K $15.96/SF
− Vacancy
−$391 −$0.18/SF
EGI
$33.9K $15.78/SF
− OpEx
−$10.2K −$4.73/SF
NOI
$23.7K $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%
$474,920
Cap Rate 7%
$339,229
Cap Rate 9%
$263,844
Alternative Uses
Best Use
Multifamily LT 5
$339.2K
$296.8K – $395.8K
NOI $23,746 @ 7.0% cap · market cap 4.76%
Second Best
Apartment 5plus
$300.4K
$262.9K – $350.5K
NOI $21,030 @ 7.0% cap · market cap 4.21%
Theoretical Best
Office A
$589.7K
$516.0K – $688.0K
NOI $41,280 @ 7.0% cap · market cap 8.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
17
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 - Duplex with a covered porch, public water, and VRNN zoning, with a 2023 roof plus new furnace and hot water heater.
Where is this duplex located?
The property is located at 137 Jericho Road Richmond, VT.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: 0.23‑acre lot with 2,150 SF total building size; New roof in 2023, plus new furnace and hot water heater in 2023; Hardwood floors installed in 2018
