Side-By-Side
For Sale
$299,900
24-26 North Street, Proctor, VT 05765
Recently renovated side-by-side duplex with two 3-bedroom, 2-bath units, one occupied and one vacant.
Property Size2,822 SF
Price / SF$106.27
Days on Market15
Property Features for 24-26 North Street
General Information
Standard status
Active
Size
2,822 SF
Property subtype
Multi-family
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Building Details
Year Built
1880
Buildings
1
Listing Agency:
Casella Real Estate
Listed By:
Hughes Group Team
(802) 846-8460
Source:
Themarcelinoteam
Added: Jul 25
Changed: Jul 30
Last Checked: Aug 7 at 1:34AM
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 Casella Real Estate
Investment Insights
Based on property information with market context.
This side-by-side duplex offers two recently renovated units in a multi-level layout with three usable levels of living space. Each unit features three bedrooms and two bathrooms, providing room for everyday living, home office space, storage, or flexible bonus areas. One unit is currently occupied by a long-term tenant, while the other is vacant and ready for a new occupant.
Outside, the property includes a manageable yard, ample off-street parking for both units, and attractive mountain views. The home is located in an established residential area of Proctor with public trash service and convenient access to local amenities, recreation, schools, and surrounding communities.
Built in 1880, the property combines classic duplex form with recent unit improvements, creating a straightforward option for an owner-occupant or an investor looking for a multifamily setup with one established tenancy and the ability to choose a tenant for the vacant unit.
Outside, the property includes a manageable yard, ample off-street parking for both units, and attractive mountain views. The home is located in an established residential area of Proctor with public trash service and convenient access to local amenities, recreation, schools, and surrounding communities.
Built in 1880, the property combines classic duplex form with recent unit improvements, creating a straightforward option for an owner-occupant or an investor looking for a multifamily setup with one established tenancy and the ability to choose a tenant for the vacant unit.
Key Highlights
- Two recently renovated side‑by‑side units with three usable levels
- Each unit has three bedrooms and two bathrooms
- One unit occupied by a long‑term tenant; the other unit is vacant
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
$26,743
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
8.92%
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%
$534,860
$534.9K
Cap Rate 7%
$382,043
$382.0K
Cap Rate 9%
$297,144
$297.1K
Market Conditions
NOI Build-Up for 2,822 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
$38.9K $13.80/SF
− Vacancy
−$740 −$0.26/SF
EGI
$38.2K $13.54/SF
− OpEx
−$11.5K −$4.06/SF
NOI
$26.7K $9.48/SF
Area
Rutland County, VT
Vacancy
1.90%
Lease Rate
$13.80 /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%
$534,860
Cap Rate 7%
$382,043
Cap Rate 9%
$297,144
Alternative Uses
Best Use
Multifamily LT 5
$382.0K
$334.3K – $445.7K
NOI $26,743 @ 7.0% cap · market cap 8.92%
Second Best
Apartment 5plus
$352.0K
$308.0K – $410.7K
NOI $24,641 @ 7.0% cap · market cap 8.22%
Theoretical Best
Healthcare Medical
$491.3K
$429.9K – $573.2K
NOI $34,394 @ 7.0% cap · market cap 11.47%
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
57
Businesses Nearby
Explore this area
Business Placement
Demographics for 05765, VT
1,722
Population
761
Households
2.3
Avg Household Size
44
Median Age
28%
College-Educated
97%
High-School Grad
7.2 sq mi
ZIP Area
239
Density / Sq Mi
$65,000
Median Household Income
$42,115
Median Earnings
$997
Median Rent
$199,300
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 - Recently renovated side-by-side duplex with two 3-bedroom, 2-bath units, one occupied and one vacant.
Where is this duplex located?
The property is located at 24-26 North Street Proctor, VT.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Two recently renovated side‑by‑side units with three usable levels; Each unit has three bedrooms and two bathrooms; One unit occupied by a long‑term tenant; the other unit is vacant
