Triplex with Detached
New
For Sale
$549,000
1480 North Ave, Burlington, VT 05408
Three-unit property with varied apartment layouts, separate utilities, outdoor space, and off-street parking near Burlington amenities.
Property Size1,724 SF
Price / SF$318.45
Days on Market5
Property Features for 1480 North Ave
General Information
Standard status
Active
Size
1,724 SF
Property subtype
Multi-Family
Additional Details
Public Transit
Yes
Multifamily Units
3
Building Details
Year Built
1930
Listing Agency:
KW Vermont
(802) 654-8500
Listed By:
Prabin Pokhrel
Source:
Lyvrealty
Added: Aug 25
Changed: Aug 29
Last Checked: Aug 29 at 11:54AM
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.
This three-unit residential property at 1480 North Ave in Burlington occupies a corner lot with mature trees and substantial outdoor space. The apartment mix includes one-bedroom and two-bedroom units, with practical layouts and hardwood flooring in many living areas. Separate utilities support straightforward property management, while off-street parking and a detached two-car garage add functional value for residents or ownership use.
The property is located in Burlington’s New North End, near shopping, grocery stores, restaurants, schools, and public transportation. Leddy Park, public beaches, walking and biking paths, and Lake Champlain recreation are nearby. Downtown Burlington, Church Street Marketplace, UVM Medical Center, and Colchester are also within easy reach. Built in 1930, the property provides a multi-unit configuration in an established residential setting.
The property is located in Burlington’s New North End, near shopping, grocery stores, restaurants, schools, and public transportation. Leddy Park, public beaches, walking and biking paths, and Lake Champlain recreation are nearby. Downtown Burlington, Church Street Marketplace, UVM Medical Center, and Colchester are also within easy reach. Built in 1930, the property provides a multi-unit configuration in an established residential setting.
Key Highlights
- Triplex with a mix of 1‑bedroom and 2‑bedroom apartments
- Detached 2‑car garage plus ample off‑street parking
- Separate utilities for the individual units
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
$19,041
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
3.47%
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%
$380,820
$380.8K
Cap Rate 7%
$272,014
$272.0K
Cap Rate 9%
$211,567
$211.6K
Market Conditions
NOI Build-Up for 1,724 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
$27.5K $15.96/SF
− Vacancy
−$314 −$0.18/SF
EGI
$27.2K $15.78/SF
− OpEx
−$8.2K −$4.73/SF
NOI
$19.0K $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%
$380,820
Cap Rate 7%
$272,014
Cap Rate 9%
$211,567
Alternative Uses
Best Use
Multifamily LT 5
$272.0K
$238.0K – $317.4K
NOI $19,041 @ 7.0% cap · market cap 3.47%
Second Best
Apartment 5plus
$240.9K
$210.8K – $281.1K
NOI $16,863 @ 7.0% cap · market cap 3.07%
Theoretical Best
Office A
$472.9K
$413.8K – $551.7K
NOI $33,101 @ 7.0% cap · market cap 6.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
298
Businesses Nearby
Explore this area
Business Placement
Demographics for 05408, VT
10,425
Population
4,455
Households
2.3
Avg Household Size
44
Median Age
55%
College-Educated
94%
High-School Grad
4.0 sq mi
ZIP Area
2,606
Density / Sq Mi
$98,656
Median Household Income
$52,934
Median Earnings
$1,573
Median Rent
$369,400
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?
Triplex - Three-unit property with varied apartment layouts, separate utilities, outdoor space, and off-street parking near Burlington amenities.
Where is this triplex located?
The property is located at 1480 North Ave Burlington, VT.
What is the asking price?
The asking price for this property is $549,000.
What are key features of this property?
This property features: Triplex with a mix of 1‑bedroom and 2‑bedroom apartments; Detached 2‑car garage plus ample off‑street parking; Separate utilities for the individual units
