Castleton Multifamily Investment
For Sale
$1,190,000
Pending
2137 Rte 30 North, Castleton, VT 05732
Well-maintained 14-unit property near Lake Bomoseen on 6.8 acres.
Property Size12,090 SF
Lot Size6.80 Acres
Days on Market321
Property Features for 2137 Rte 30 North
General Information
Standard status
Pending
Size
12,090 SF
Lot size
6.80 Acres
Property subtype
Multi Family
Zoning
Residential
Taxes and HOA fees
Annual Taxes
$16,983
Amenities
Baseboard
Yes
2
14
Interior
Unfinished
Metal, Slate
Wood Frame
Building Details
Year Built
1925
Listing Agency:
Watson Realty & Associates
Listed By:
Mike Kalil
(802) 773-3500
Source:
Compass
Added: Oct 25, 2025
Changed: Sep 10
Last Checked: Sep 10 at 11:07AM
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 Watson Realty & Associates
Investment Insights
Based on property information with market context.
This well-maintained property in Castleton (Bomoseen) presents an investment opportunity. It comprises 14 units situated on a large parcel of over 6.8 acres near Lake Bomoseen and conveniently located on Route 30. The buildings are set back from the road, providing ample parking. The front building contains 10 units, consisting of five 2-bedroom units, three 1-bedroom units, one 3-bedroom unit, and an efficiency unit. The back building features four 2-bedroom townhome-style units, each spanning two stories. The property features vinyl siding and vinyl replacement windows. The pro forma numbers with 100% occupancy indicate gross revenues of $213,156 per year, with expenses around $67,000 per year, not including management, regular maintenance calls, vacancy rate, and debt service. The current CAP Rate is above 12%. Currently, 11 units are occupied, and the other 3 are in transition. Three heating boilers service the front building, and two boilers service the back building. This property is part of a 28-unit package and can be purchased as two 14-unit packages.
Key Highlights
- Great investment opportunity with a current CAP Rate above 12%.
- Pro forma gross revenues of $213,156 per year with $67,000 in expenses (excluding management, maintenance, vacancy, and debt service).
- Well‑maintained property consisting of 14 units across two buildings.
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
$105,567
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
8.87%
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%
$2,111,340
$2.1M
Cap Rate 7%
$1,508,100
$1.5M
Cap Rate 9%
$1,172,967
$1.2M
Market Conditions
NOI Build-Up for 12,090 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
$195.9K $16.20/SF
− Vacancy
−$3.9K −$0.32/SF
EGI
$191.9K $15.88/SF
− OpEx
−$86.4K −$7.14/SF
NOI
$105.6K $8.73/SF
Area
Rutland County, VT
Vacancy
2.00%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
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%
$2,111,340
Cap Rate 7%
$1,508,100
Cap Rate 9%
$1,172,967
Alternative Uses
Best Use
Apartment 5plus
$1.51M
$1.32M – $1.76M
NOI $105,567 @ 7.0% cap · market cap 8.87%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$2.11M
$1.84M – $2.46M
NOI $147,351 @ 7.0% cap · market cap 12.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
12
Businesses Nearby
Explore this area
Business Placement
Demographics for 05732, VT
915
Population
843
Households
1.1
Avg Household Size
55
Median Age
32%
College-Educated
83%
High-School Grad
10.9 sq mi
ZIP Area
84
Density / Sq Mi
$30,625
Median Household Income
$37,788
Median Earnings
$734
Median Rent
$238,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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?
Apartment building - Well-maintained 14-unit property near Lake Bomoseen on 6.8 acres.
Where is this apartment building located?
The property is located at 2137 Rte 30 North Castleton, VT.
What is the asking price?
The asking price for this property is $1,190,000.
What are key features of this property?
This property features: Great investment opportunity with a current CAP Rate above 12%.; Pro forma gross revenues of $213,156 per year with $67,000 in expenses (excluding management, maintenance, vacancy, and debt service).; Well‑maintained property consisting of 14 units across two buildings.
