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    Residential Income Duplex Title is generated by Realmo AI

    350 Main Street, Castleton, VT 05735

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    Claim this Listing
    For Sale
    $450,000

    MULTI_FAMILY - Other - Castleton, VT

    Property size:
    2,769 SF
    Lot size:
    0.21 Acres
    Price / SF:
    $162/SF
    Added:
    Feb 8, 2026
    Days on Market:
    116
    Last Refresh:
    Jun 4 at 2:06 am

    Property Features for 350 Main Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    Residential
    Rooms
    Basement
    Standard status
    Active
    Size
    2,769 SF
    Lot size
    0.21 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    2829

    Utilities

    Utilities
    Phone Available
    Heating system
    Hot Water(Heating), Oil
    Water source
    Public

    Building Details

    Year built
    1890
    Floors in Building
    2
    Number of units
    2
    Building materials
    Timber Frame, Clapboard Exterior
    Roof type
    Slate
    Architectural style
    Other

    We can help!

    Listing Contact
    Hurley Cavacas

    Listing agent Hurley Cavacas

    Listing office New England Lakeside Realty P.O. Box 887, WELLS, VT

    Listing date Feb 8, 2026

    MLS# 5076032 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

    • 1890 farm house with slate roof and clapboard exterior
    • Upstairs currently leased as a 3‑bedroom, 2‑bath apartment
    • Upstairs includes a full bath, plus two additional bedrooms and another bathroom that may be paired with either apartment
    • Owner’s apartment has 1 bedroom, 1 bathroom, a living room, and a bonus room
    • Main kitchen just remodeled with replacement windows and wiring redone
    • Public water; phone available; heating includes hot water (heating) and oil

    Overview

    This 1890 farm house is set up to function as a residential income property with multiple options for owner and renter use. The upstairs includes a full bath and additional bedrooms and a second bathroom that may be configured to support either apartment. The owner is currently leasing the upstairs as a three-bedroom, two-bath apartment. A separate owner unit includes one bedroom, one bathroom, a living room, and a bonus room. The main kitchen has just been remodeled, and the property includes replacement windows and re-done wiring.

    Located in a college town setting, the property is described as within walking distance to the Amtrak station, restaurants, the public library, and hiking trails. It is also noted as a short distance to Lake Bomoseen and St Catherine, with world-class skiing nearby. Zoning is listed as Residential.

    For tenants or buyers seeking a property that can support both living and rental income, this layout provides separation between an owner’s unit and an upstairs apartment. The recent improvements to the kitchen, windows, and wiring add practical move-in confidence for long-term occupants while maintaining flexibility in how the upper space can be used.

    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 $38.2k $13.80
    − Vacancy −$726 −$0.26
    EGI $37.5k $13.54
    − OpEx −$11.2k −$4.06
    NOI $26.2k $9.48
    2,769 SF · lease $13.80/SF/yr · vacancy 1.90% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $374.9K
    $328.0K – $437.3K (±1% cap)
    NOI $26,240 @ 7.0% cap · market cap 5.83%
    Second Best
    Apartment 5plus
    $345.4K
    $302.2K – $403.0K (±1% cap)
    NOI $24,178 @ 7.0% cap · market cap 5.37%
    Theoretical Best
    Healthcare Medical
    $482.1K
    $421.9K – $562.5K (±1% cap)
    NOI $33,748 @ 7.0% cap · market cap 7.50%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon Pharmacy Auto Parts Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Castleton
    County
    Rutland
    State
    Vermont
    Longitude
    -73.1730665
    Latitude
    43.6131581

    Nearby Similar for Sale

    • $249,900

      Castleton Commercial Building with Garage

      Commercial building with garage in great location near amenities.
      47 Route 4A West, Castleton, VT 05735
      View Details
    • $450,000

      Charming 1890 Farm House

      Farm house near amenities with flexible owner/renter options.
      350 Main St, Castleton, VT 05735
      View Details

    FAQs

    What type of property is this?
    Duplex - 1890 farm house configured as two living units, offering flexible owner-and-renter options with recent kitchen, window, and wiring updates.
    Where is this duplex located?
    The property is located at 350 Main Street Castleton, VT.
    What is the asking price?
    The asking price for this property is $450,000.
    What are key features of this property?
    This property features: 1890 farm house with slate roof and clapboard exterior; Upstairs currently leased as a 3‑bedroom, 2‑bath apartment; Upstairs includes a full bath, plus two additional bedrooms and another bathroom that may be paired with either apartment
    (802) 645-9001
    We can help!
    Listing Contact
    Hurley Cavacas
    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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    350 Main Street, Castleton, VT 05735
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