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    Four-Unit Residential Income Property Title is generated by Realmo AI

    27-29 Lafountain Street, Burlington, VT 05401

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    For Sale
    Under Contract
    $489,000

    MULTI_FAMILY - Other - Burlington, VT

    Property size:
    2,914 SF
    Lot size:
    0.13 Acres
    Price / SF:
    $167/SF
    Added:
    Feb 25, 2026
    Days on Market:
    100
    Last Refresh:
    Jun 5 at 5:06 pm

    Property Features for 27-29 Lafountain Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    res
    Bedrooms
    6
    Bathrooms
    4
    Rooms
    Bedroom 4, Bedroom 2, Basement, Bedroom 1, Bedroom 5, Bathroom 2, Bathroom 4, Bedroom 3, Bathroom 1, Bathroom 3, Bedroom 6
    Parking features
    Off Street, Driveway
    Patio and Porch features
    Patio, Porch
    Exterior features
    Partial Fence, Patio, Covered Porch, Enclosed Porch, Shed, Window Screens, Storm Window(s)
    Fencing
    Partial
    Standard status
    Active Under Contract
    Size
    2,914 SF
    Lot size
    0.13 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    15395

    Utilities

    Heating system
    Natural Gas
    Water source
    Public

    Building Details

    Year built
    1899
    Floors in Building
    2
    Number of units
    4
    Flooring type
    Softwood, Bamboo, Vinyl, Hardwood
    Building materials
    Wood Frame, Clapboard Exterior
    Roof type
    Membrane, Slate
    Architectural style
    Other

    We can help!

    Listing Contact
    Sean Farrell

    Listing agent Sean Farrell

    Listing office Flex Realty 19 Roosevelt Hwy, Colchester, VT

    Listing date Feb 25, 2026

    MLS# 5077455 Listing URL

    Copyright © 2026 PrimeMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Four‑unit multi‑family property in downtown Burlington
    • Year built 1899 with wood frame and clapboard exterior
    • Four separate rental units (6 bedrooms and 4 bathrooms listed in the room breakdown)
    • Natural gas heating; public water service
    • Roof types include membrane and slate
    • Off‑street driveway parking with patio and covered/enclosed porches, plus a shed and storm windows

    Overview

    This four-unit residential income property includes four separate rental units and is presented as a project requiring maintenance and updates. The building size is 2,914 square feet, and the site totals 0.13 acres. The property is being offered for sale and is suited to buyers prepared to renovate, reposition, and bring the asset up to current market expectations through improvements.

    The address is 27-29 Lafountain Street in Burlington, Vermont (05401), in Chittenden County. Public remarks describe the property as being in the heart of downtown Burlington and positioned near downtown amenities and public transportation.

    For owner-occupants or investors, the unit-by-unit rental configuration can support straightforward management of four separate spaces while providing an opportunity to improve the property through renovations and updates. Buyers seeking a value-add residential income asset should consider the noted condition and plan accordingly for repairs and upgrades.

    Local Financial Insights For Multifamily LT 5

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $46.5k $15.96
    − Vacancy −$530 −$0.18
    EGI $46.0k $15.78
    − OpEx −$13.8k −$4.73
    NOI $32.2k $11.04
    2,914 SF · lease $15.96/SF/yr · vacancy 1.14% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $459.8K
    $402.3K – $536.4K (±1% cap)
    NOI $32,184 @ 7.0% cap · market cap 6.58%
    Second Best
    Apartment 5plus
    $407.2K
    $356.3K – $475.0K (±1% cap)
    NOI $28,502 @ 7.0% cap · market cap 5.83%
    Theoretical Best
    Office A
    $799.3K
    $699.4K – $932.5K (±1% cap)
    NOI $55,949 @ 7.0% cap · market cap 11.44%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Real Estate Agency Restaurant Law Firm Dental Office Hair Salon Spa & Massage Center Nail Salon Food Market Daycare Center Grocery & Convenience Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Burlington
    County
    Chittenden
    State
    Vermont
    Longitude
    -73.2154636
    Latitude
    44.4855134

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    FAQs

    What type of property is this?
    Quadplex - Four separate rental units in downtown Burlington, offering a maintenance and update-driven project for owner-users or investors.
    Where is this quadplex located?
    The property is located at 27-29 Lafountain Street Burlington, VT.
    What is the asking price?
    The asking price for this property is $489,000.
    What are key features of this property?
    This property features: Four‑unit multi‑family property in downtown Burlington; Year built 1899 with wood frame and clapboard exterior; Four separate rental units (6 bedrooms and 4 bathrooms listed in the room breakdown)
    (802) 578-8885
    We can help!
    Listing Contact
    Sean Farrell
    Request Owner's contact information
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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