Updated Duplex with Separate
For Sale
$714,900
Pending
2537 Malletts Bay AVE, Colchester, VT 05446
Two distinct living units offer flexible owner-occupancy or rental use, with private outdoor areas and a detached two-bay garage.
Property Size3,207 SF
Lot Size0.75 Acres
Days on Market129
Property Features for 2537 Malletts Bay AVE
General Information
Standard status
Pending
Size
3,207 SF
Total Parking Spaces
2
Lot size
0.75 Acres
Property subtype
Multi-Family
Zoning
rez
Units
Unit Mix
1 x 4BR/2.5BA, 1 x 2BR/1BA
Multifamily Units
2
Amenities
Mitsubishi Mini Split
washer and dryer
landscaping
privacy fencing
Building Details
Building Size
3,207 SF
Year Built
1968
Stories
1
Listing Agency:
RE/MAX North Professionals
(802) 760-7517
Listed By:
Mikail Stein
Source:
Hometown-team
Added: Apr 25
Changed: Aug 30
Last Checked: Aug 30 at 3:08PM
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.
This 1968 duplex contains 3,207 finished square feet across two separate units, with six bedrooms and four bathrooms in total. The larger residence provides more than 2,600 square feet, split-level living, four bedrooms, and a primary bedroom with a private half bath. The second unit includes two bedrooms, vaulted ceilings, a full bathroom, and its own washer and dryer. Each garage bay is separately configured for the two-car garage.
Recent improvements include kitchen cabinetry, lighting, appliances, a full bathroom, Mitsubishi Mini Split, laundry equipment, interior trim, paint, chimney liner, front-window repairs, landscaping, and serviced gas heaters. The nearly three-quarter-acre property has two private yards divided by privacy fencing. Zoning is listed as rez.
The property is 1.3 miles from the Winooski circle, 3.8 miles from Burlington’s Church Street, and 3 miles from Lake Champlain’s Bayside Park in Colchester. Skiing is described as being within 30 minutes.
Recent improvements include kitchen cabinetry, lighting, appliances, a full bathroom, Mitsubishi Mini Split, laundry equipment, interior trim, paint, chimney liner, front-window repairs, landscaping, and serviced gas heaters. The nearly three-quarter-acre property has two private yards divided by privacy fencing. Zoning is listed as rez.
The property is 1.3 miles from the Winooski circle, 3.8 miles from Burlington’s Church Street, and 3 miles from Lake Champlain’s Bayside Park in Colchester. Skiing is described as being within 30 minutes.
Key Highlights
- 3,207 finished square feet with 6 total bedrooms and 4 total baths
- Two separate living units, including a larger 2,600sqft+ residence
- Nearly 3/4‑acre parcel with 2 private yards divided by privacy fencing
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
$35,420
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
4.95%
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%
$708,400
$708.4K
Cap Rate 7%
$506,000
$506.0K
Cap Rate 9%
$393,556
$393.6K
Market Conditions
NOI Build-Up for 3,207 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
$51.2K $15.96/SF
− Vacancy
−$583 −$0.18/SF
EGI
$50.6K $15.78/SF
− OpEx
−$15.2K −$4.73/SF
NOI
$35.4K $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%
$708,400
Cap Rate 7%
$506,000
Cap Rate 9%
$393,556
Alternative Uses
Best Use
Multifamily LT 5
$506.0K
$442.8K – $590.3K
NOI $35,420 @ 7.0% cap · market cap 4.95%
Second Best
Apartment 5plus
$448.1K
$392.1K – $522.8K
NOI $31,368 @ 7.0% cap · market cap 4.39%
Theoretical Best
Office A
$879.6K
$769.7K – $1.03M
NOI $61,574 @ 7.0% cap · market cap 8.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
37
Businesses Nearby
Explore this area
Business Placement
Demographics for 05446, VT
16,081
Population
7,679
Households
2.1
Avg Household Size
41
Median Age
41%
College-Educated
95%
High-School Grad
36.6 sq mi
ZIP Area
439
Density / Sq Mi
$97,442
Median Household Income
$52,101
Median Earnings
$1,323
Median Rent
$357,100
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 distinct living units offer flexible owner-occupancy or rental use, with private outdoor areas and a detached two-bay garage.
Where is this duplex located?
The property is located at 2537 Malletts Bay AVE Colchester, VT.
What is the asking price?
The asking price for this property is $714,900.
What are key features of this property?
This property features: 3,207 finished square feet with 6 total bedrooms and 4 total baths; Two separate living units, including a larger 2,600sqft+ residence; Nearly 3/4‑acre parcel with 2 private yards divided by privacy fencing
