Duplex with Fully Fenced
For Sale
$398,500
24 North Street, Essex Junction, VT 05452
Duplex with two-bedroom and one-bedroom units, off-street parking, and public water, sewer, and natural gas.
Property Size1,704 SF
Lot Size0.30 Acres
Price / SF$233.86
Days on Market14
Property Features for 24 North Street
General Information
Standard status
Active
Size
1,704 SF
Lot size
0.30 Acres
Property subtype
Multi-family
Units
Unit Mix
1 x 2BR, 1 x 1BR
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Amenities
fully fenced backyard
side porch
unfinished attic space
Building Details
Year Built
1900
Listing Agency:
RE/MAX North Professionals
Listed By:
Jason Lefebvre
(802) 862-6433
Source:
Brianfrenchrealestate
Added: Jul 26
Changed: Jul 31
Last Checked: Aug 1 at 4:38AM
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.
24 North Street is a duplex on a .30-acre lot with a spacious, fully fenced backyard and ample off-street parking for multiple vehicles. Built in 1900, the property offers two separate living levels configured as a first-floor two-bedroom unit and a second-floor one-bedroom unit.
The first-floor unit is currently owner occupied and includes two bedrooms, approximately 984 square feet of living space, and a charming side porch. The second-floor one-bedroom unit includes approximately 720 square feet, an unfinished attic space for storage, and provides an opportunity for supplemental rental income.
Public water and sewer plus natural gas add to everyday practicality. The outdoor space is set up for gardening, pets, recreation, entertaining, or simply enjoying private yard time.
The first-floor unit is currently owner occupied and includes two bedrooms, approximately 984 square feet of living space, and a charming side porch. The second-floor one-bedroom unit includes approximately 720 square feet, an unfinished attic space for storage, and provides an opportunity for supplemental rental income.
Public water and sewer plus natural gas add to everyday practicality. The outdoor space is set up for gardening, pets, recreation, entertaining, or simply enjoying private yard time.
Key Highlights
- .30‑acre lot with spacious, fully fenced backyard
- First‑floor two‑bedroom unit with approximately 984 SF and side porch
- Second‑floor one‑bedroom unit with approximately 720 SF
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
$18,820
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
4.72%
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%
$376,400
$376.4K
Cap Rate 7%
$268,857
$268.9K
Cap Rate 9%
$209,111
$209.1K
Market Conditions
NOI Build-Up for 1,704 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
$27.2K $15.96/SF
− Vacancy
−$310 −$0.18/SF
EGI
$26.9K $15.78/SF
− OpEx
−$8.1K −$4.73/SF
NOI
$18.8K $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%
$376,400
Cap Rate 7%
$268,857
Cap Rate 9%
$209,111
Alternative Uses
Best Use
Multifamily LT 5
$268.9K
$235.3K – $313.7K
NOI $18,820 @ 7.0% cap · market cap 4.72%
Second Best
Apartment 5plus
$238.1K
$208.3K – $277.8K
NOI $16,667 @ 7.0% cap · market cap 4.18%
Theoretical Best
Office A
$467.4K
$409.0K – $545.3K
NOI $32,717 @ 7.0% cap · market cap 8.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
675
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 - Duplex with two-bedroom and one-bedroom units, off-street parking, and public water, sewer, and natural gas.
Where is this duplex located?
The property is located at 24 North Street Essex Junction, VT.
What is the asking price?
The asking price for this property is $398,500.
What are key features of this property?
This property features: .30‑acre lot with spacious, fully fenced backyard; First‑floor two‑bedroom unit with approximately 984 SF and side porch; Second‑floor one‑bedroom unit with approximately 720 SF
