Side-by-Side Duplex With Original
For Sale
$775,000
2-59-61 Church St, Richmond, VT 05477
Two townhouse-style residences offer flexible layouts, private outdoor space, and access to Richmond Village conveniences.
Property Size2,560 SF
Price / SF$302.73
Days on Market69
Property Features for 2-59-61 Church St
General Information
Standard status
Active
Size
2,560 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$9,770
Building Details
Year Built
1900
Buildings
1
Stories
2
Listing Agency:
RE/MAX North Professionals
(802) 777-6244
Listed By:
Linda W St. Amour · License #810003002
(802) 777-6244
Source:
Exprealty
Added: Jun 24
Changed: Aug 30
Last Checked: Aug 30 at 11:58PM
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 RE/MAX North Professionals
Investment Insights
Based on property information with market context.
Built in 1900, this two-story duplex retains period details including high ceilings, original trim, and much of its original hardwood and softwood flooring. The townhouse-style side-by-side arrangement places one residence beside the other, with each unit offering nearly 1,300 sq. ft., three bedrooms, a 3/4 bath on each floor, separate living and dining rooms, a private deck, and a backyard.
The property is located on a dead-end street in Richmond Village, within walking distance of the library, post office, Village Green, Richmond Market, restaurants, and bakery. Sidewalk access connects the duplex with nearby village services, while one side includes use of a 2-car garage.
The property is located on a dead-end street in Richmond Village, within walking distance of the library, post office, Village Green, Richmond Market, restaurants, and bakery. Sidewalk access connects the duplex with nearby village services, while one side includes use of a 2-car garage.
Key Highlights
- Two‑story duplex originally built in 1900
- Side‑by‑side townhouse layout with nearly 1,300 sq. ft. per unit
- Each unit includes 3 bedrooms and a 3/4 bath on each floor
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
$28,274
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
3.65%
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%
$565,480
$565.5K
Cap Rate 7%
$403,914
$403.9K
Cap Rate 9%
$314,156
$314.2K
Market Conditions
NOI Build-Up for 2,560 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
$40.9K $15.96/SF
− Vacancy
−$466 −$0.18/SF
EGI
$40.4K $15.78/SF
− OpEx
−$12.1K −$4.73/SF
NOI
$28.3K $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%
$565,480
Cap Rate 7%
$403,914
Cap Rate 9%
$314,156
Alternative Uses
Best Use
Multifamily LT 5
$403.9K
$353.4K – $471.2K
NOI $28,274 @ 7.0% cap · market cap 3.65%
Second Best
Apartment 5plus
$357.7K
$313.0K – $417.3K
NOI $25,040 @ 7.0% cap · market cap 3.23%
Theoretical Best
Office A
$702.2K
$614.4K – $819.2K
NOI $49,152 @ 7.0% cap · market cap 6.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
204
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two townhouse-style residences offer flexible layouts, private outdoor space, and access to Richmond Village conveniences.
Where is this duplex located?
The property is located at 2-59-61 Church St Richmond, VT.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: Two‑story duplex originally built in 1900; Side‑by‑side townhouse layout with nearly 1,300 sq. ft. per unit; Each unit includes 3 bedrooms and a 3/4 bath on each floor
