Spacious Four-Unit Multifamily
For Sale
$625,000
31 West Lane, Winooski, VT 05404
Well-maintained 4-unit property with strong rental income potential.
Property Size3,100 SF
Price / SF$201.61
Days on Market153
Property Features for 31 West Lane
General Information
Standard status
Active
Size
3,100 SF
Property subtype
Multi-Family
Zoning
Res
Building Details
Year Built
1900
Stories
2
Listing Agency:
Atlantic Realty Services
(978) 578-5013
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Mar 25
Changed: Aug 23
Last Checked: Aug 22 at 9:22AM
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 Atlantic Realty Services
Investment Insights
Based on property information with market context.
This well-maintained, four-unit multifamily property features a total of 10 bedrooms and 4 bathrooms. Recent updates include new flooring, fresh paint, modern light fixtures, and updated countertops. The driveway has been professionally graded to direct water away from the property, helping to maintain a dry basement. Located minutes from the Winooski roundabout, tenants enjoy easy access to restaurants, bars, and nightlife. This property is suited for investors, with all four units bringing in strong rental rates, presenting immediate cash flow and long-term value. It is located in a high-demand area with excellent rental potential.
Key Highlights
- Strong rental rates providing immediate cash flow and long‑term value.
- Four units totaling 10 bedrooms and 4 bathrooms.
- Recent updates include new flooring, fresh paint, modern light fixtures, and updated countertops.
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
$34,238
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
5.48%
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%
$684,760
$684.8K
Cap Rate 7%
$489,114
$489.1K
Cap Rate 9%
$380,422
$380.4K
Market Conditions
NOI Build-Up for 3,100 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
$49.5K $15.96/SF
− Vacancy
−$564 −$0.18/SF
EGI
$48.9K $15.78/SF
− OpEx
−$14.7K −$4.73/SF
NOI
$34.2K $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%
$684,760
Cap Rate 7%
$489,114
Cap Rate 9%
$380,422
Alternative Uses
Best Use
Multifamily LT 5
$489.1K
$428.0K – $570.6K
NOI $34,238 @ 7.0% cap · market cap 5.48%
Second Best
Apartment 5plus
$433.2K
$379.0K – $505.4K
NOI $30,322 @ 7.0% cap · market cap 4.85%
Theoretical Best
Office A
$850.3K
$744.0K – $992.0K
NOI $59,520 @ 7.0% cap · market cap 9.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
782
Businesses Nearby
Explore this area
Business Placement
Demographics for 05404, VT
7,981
Population
3,952
Households
2
Avg Household Size
34
Median Age
56%
College-Educated
92%
High-School Grad
1.4 sq mi
ZIP Area
5,701
Density / Sq Mi
$77,020
Median Household Income
$42,254
Median Earnings
$1,635
Median Rent
$350,700
Median Home Value
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?
Quadplex - Well-maintained 4-unit property with strong rental income potential.
Where is this quadplex located?
The property is located at 31 West Lane Winooski, VT.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Strong rental rates providing immediate cash flow and long‑term value.; Four units totaling 10 bedrooms and 4 bathrooms.; Recent updates include **new flooring, fresh paint, modern light fixtures, and updated countertops.**
