NMU-Zoned Triplex with Garden
For Sale
$584,000
317 North Winooski Avenue, Burlington, VT 05401
Three-unit property with two one-bedroom apartments and one four-bedroom residence.
Property Size1,817 SF
Price / SF$321.41
Days on Market684
Property Features for 317 North Winooski Avenue
General Information
Standard status
Active
Size
1,817 SF
Property subtype
Multi Family
Zoning
NMU
Units
Unit Mix
2 x 1BR, 1 x 4BR
Multifamily Units
3
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$12,062
Amenities
outdoor space
gardening space
Cans, Curbside, Municipal, Owner, Recycle
Natural Gas, Gas Heater - Vented, Space Heater, Wall Units
Yes
Combination, Hardwood, Laminate, Tile, Vinyl, Wood
Water Heater – Owned, Water Heater – Separate
2
3
Walk-up
Concrete, Exterior Access, Full, Other, Stairs - Exterior, Storage Space, Unfinished
12
Slate
Magenta
Deck, Fence - Partial, Garden Space, Natural Shade, Other, Outbuilding, Porch - Covered, Storage, Window Screens, Windows - Double Pane
Insulation-Cellulose, Wood Frame, Clapboard Exterior, Wood Siding
Building Details
Year Built
1899
Buildings
1
Listing Agency:
KW Vermont
(802) 999-8410
Listed By:
The Conroy
(802) 999-8410
Source:
Compass
Added: Oct 18, 2024
Changed: Aug 30
Last Checked: Aug 31 at 10:02PM
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 KW Vermont
Investment Insights
Based on property information with market context.
Built in 1899, this triplex at 317 North Winooski Avenue contains two one-bedroom units and one four-bedroom unit. The property includes off-street parking, outdoor areas with garden space, a deck, and a covered porch. Interior finishes include hardwood, laminate, tile, vinyl, and wood flooring, with natural-gas heating and wall-unit cooling.
The property is located in Burlington, near the downtown core, Lake Champlain waterfront, recreational paths, UVMMC, local parks, and public transportation. NMU zoning provides a framework for uses beyond residential occupancy, subject to city approvals.
The property is located in Burlington, near the downtown core, Lake Champlain waterfront, recreational paths, UVMMC, local parks, and public transportation. NMU zoning provides a framework for uses beyond residential occupancy, subject to city approvals.
Key Highlights
- Three‑unit configuration with two 1‑bedroom units and one 4‑bedroom unit
- NMU zoning with potential for nonresidential use subject to city approvals
- Built in 1899
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
$20,068
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
3.44%
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%
$401,360
$401.4K
Cap Rate 7%
$286,686
$286.7K
Cap Rate 9%
$222,978
$223.0K
Market Conditions
NOI Build-Up for 1,817 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
$29.0K $15.96/SF
− Vacancy
−$331 −$0.18/SF
EGI
$28.7K $15.78/SF
− OpEx
−$8.6K −$4.73/SF
NOI
$20.1K $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%
$401,360
Cap Rate 7%
$286,686
Cap Rate 9%
$222,978
Alternative Uses
Best Use
Multifamily LT 5
$286.7K
$250.9K – $334.5K
NOI $20,068 @ 7.0% cap · market cap 3.44%
Second Best
Apartment 5plus
$253.9K
$222.2K – $296.2K
NOI $17,772 @ 7.0% cap · market cap 3.04%
Theoretical Best
Office A
$498.4K
$436.1K – $581.4K
NOI $34,886 @ 7.0% cap · market cap 5.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
3,646
Businesses Nearby
Explore this area
Business Placement
Demographics for 05401, VT
32,059
Population
13,898
Households
2.3
Avg Household Size
28
Median Age
63%
College-Educated
95%
High-School Grad
6.1 sq mi
ZIP Area
5,256
Density / Sq Mi
$60,532
Median Household Income
$23,422
Median Earnings
$1,614
Median Rent
$463,300
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?
Triplex - Three-unit property with two one-bedroom apartments and one four-bedroom residence.
Where is this triplex located?
The property is located at 317 North Winooski Avenue Burlington, VT.
What is the asking price?
The asking price for this property is $584,000.
What are key features of this property?
This property features: Three‑unit configuration with two 1‑bedroom units and one 4‑bedroom unit; NMU zoning with potential for nonresidential use subject to city approvals; Built in 1899
