Duplex with Covered
For Sale
$375,000
2 Arlington Street, Essex Junction, VT 05452
Two-unit duplex with separate covered porches, basement storage, and off-street parking, offering flexible owner-occupant or rental use.
Property Size1,840 SF
Price / SF$203.80
Days on Market163
Property Features for 2 Arlington Street
General Information
Standard status
Active
Size
1,840 SF
Property subtype
Multi-family
Occupancy
50%
Additional Details
Multifamily Units
2
Building Details
Year Built
1884
Stories
2
Tenancy
Multi
Listing Agency:
Brian French Real Estate
Listed By:
Lori Dykema
(603) 763-4932
Source:
Harborlightrealty
Added: Feb 26
Changed: Jul 10
Last Checked: Jul 28 at 10:24PM
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 Brian French Real Estate
Investment Insights
Based on property information with market context.
This well-built duplex is configured with a two-bedroom first-floor unit and a three-bedroom second-floor unit. Each level has its own covered porch or deck, creating separate outdoor space for tenants or occupants. The home also includes a full basement with secure, locked storage for tenants, plus additional space throughout. A walk-up attic provides further storage convenience. While the property is currently operated as a duplex, the original single-family layout offers the option to convert back if desired.
The duplex sits on a nice, level lot at the end of a quiet road, with plenty of off-street parking for residents and guests. The first-floor unit is currently occupied, while the second-floor unit is vacant.
From a practical standpoint, this setup can support owner-occupancy with rental income from the occupied unit or serve as a straightforward two-unit investment. Reported annual expenses are $5,250, with first-floor income at $1,800 per month and a $1,800 deposit. The second-floor unit is currently rented at $1,600. The property’s storage provisions, including locked basement storage and a walk-up attic, can also help tenants manage personal items comfortably.
The duplex sits on a nice, level lot at the end of a quiet road, with plenty of off-street parking for residents and guests. The first-floor unit is currently occupied, while the second-floor unit is vacant.
From a practical standpoint, this setup can support owner-occupancy with rental income from the occupied unit or serve as a straightforward two-unit investment. Reported annual expenses are $5,250, with first-floor income at $1,800 per month and a $1,800 deposit. The second-floor unit is currently rented at $1,600. The property’s storage provisions, including locked basement storage and a walk-up attic, can also help tenants manage personal items comfortably.
Key Highlights
- Built in 1884, this 2‑unit duplex offers flexible owner‑occupant or rental use.
- Unit mix: first‑floor 2‑bed unit is occupied; second‑floor 3‑bed unit is currently vacant.
- Each level has its own covered porch/deck.
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
$20,322
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
5.42%
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%
$406,440
$406.4K
Cap Rate 7%
$290,314
$290.3K
Cap Rate 9%
$225,800
$225.8K
Market Conditions
NOI Build-Up for 1,840 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
$29.4K $15.96/SF
− Vacancy
−$335 −$0.18/SF
EGI
$29.0K $15.78/SF
− OpEx
−$8.7K −$4.73/SF
NOI
$20.3K $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%
$406,440
Cap Rate 7%
$290,314
Cap Rate 9%
$225,800
Alternative Uses
Best Use
Multifamily LT 5
$290.3K
$254.0K – $338.7K
NOI $20,322 @ 7.0% cap · market cap 5.42%
Second Best
Apartment 5plus
$257.1K
$225.0K – $300.0K
NOI $17,997 @ 7.0% cap · market cap 4.80%
Theoretical Best
Office A
$504.7K
$441.6K – $588.8K
NOI $35,328 @ 7.0% cap · market cap 9.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
50%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
547
Businesses Nearby
Explore this area
Business Placement
Demographics for 05452, VT
22,153
Population
9,808
Households
2.3
Avg Household Size
41
Median Age
54%
College-Educated
95%
High-School Grad
40.4 sq mi
ZIP Area
548
Density / Sq Mi
$97,697
Median Household Income
$55,997
Median Earnings
$1,463
Median Rent
$404,200
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 - Two-unit duplex with separate covered porches, basement storage, and off-street parking, offering flexible owner-occupant or rental use.
Where is this duplex located?
The property is located at 2 Arlington Street Essex Junction, VT.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Built in 1884, this 2‑unit duplex offers flexible owner‑occupant or rental use.; Unit mix: first‑floor 2‑bed unit is occupied; second‑floor 3‑bed unit is currently vacant.; Each level has its own covered porch/deck.
