Triplex with Detached
For Sale
$549,000
1480 North Avenue, Burlington, VT 05408
Multi-Family, Burlington, VT
Property Size1,724 SF
Lot Size0.18 Acres
Price / SF$318.45
Days on Market98
Property Features for 1480 North Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
LD
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 4, Bedroom 2, Basement, Bathroom 2, Bedroom 1, Bedroom 3, Bathroom 1, Bathroom 3
Appliances
Rented Water Heater
Lot features
City Lot, Corner
Elementary school
C. P. Smith School
Middle school
Lyman C. Hunt Middle School
High school
Burlington High School
Elementary school district
Burlington School District
Middle school district
Burlington School District
High school district
Burlington School District
Directions
Property on the corner of North Avenue and Cayuga Court.
Standard status
Active
Size
1,724 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
9680
Utilities
Utilities
Cable Available
Heating system
Natural Gas
Water source
Public
Amenities
outdoor space
Building Details
Year built
1930
Floors in Building
2
Number of units
3
Flooring type
Hardwood
Building materials
Wood Frame, Clapboard Exterior, Vinyl Exterior
Roof type
Shingle
Architectural style
Other
Listing Agency:
KW Vermont · Keller Williams Realty
(802) 654-8500
Listed By:
Prabin Pokhrel
(802) 363-0315
Added: May 28
Changed: Sep 2
Last Checked: Sep 2 at 12:06PM
MLS# 5091358
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 Burlington triplex contains three residential units with a mix of one-bedroom and two-bedroom apartments. The 1,724-square-foot property sits on a 0.18-acre corner lot with mature trees and generous outdoor space. Hardwood flooring appears throughout many living areas, and the building includes a basement, wood-frame construction, clapboard and vinyl exterior finishes, a shingle roof, natural-gas heat, and public water. Separate utilities support independent management of the apartments. Off-street parking is complemented by a detached two-car garage.
The property is located at 1480 North Avenue in Burlington’s New North End. Shopping centers, grocery stores, restaurants, schools, and public transportation are nearby. Leddy Park, public beaches, walking and biking paths, and Lake Champlain recreation are also accessible, while downtown Burlington, Church Street Marketplace, UVM Medical Center, and Colchester are within easy reach.
The property is located at 1480 North Avenue in Burlington’s New North End. Shopping centers, grocery stores, restaurants, schools, and public transportation are nearby. Leddy Park, public beaches, walking and biking paths, and Lake Champlain recreation are also accessible, while downtown Burlington, Church Street Marketplace, UVM Medical Center, and Colchester are within easy reach.
Key Highlights
- Three‑unit multifamily property with 1,724 square feet of building area
- 0.18‑acre corner lot with mature trees and generous outdoor space
- Unit mix includes 1‑bedroom and 2‑bedroom apartments
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 residential units include one- and two-bedroom layouts, hardwood flooring, separate utilities, and off-street parking.
Where is this triplex located?
The property is located at 1480 North Avenue 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: Three‑unit multifamily property with 1,724 square feet of building area; 0.18‑acre corner lot with mature trees and generous outdoor space; Unit mix includes 1‑bedroom and 2‑bedroom apartments
