Duplex with Basement
For Sale
$929,000
362 North Winooski Avenue, Burlington, VT 05401
Two four-bedroom apartments share a full basement with dedicated locked storage and common laundry.
Property Size3,560 SF
Price / SF$388.70
Days on Market33
Property Features for 362 North Winooski Avenue
General Information
Standard status
Active
Size
3,560 SF
Property subtype
Residential Income
Zoning
Residential
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
2 x 4BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$11,465
Amenities
common laundry
Baseboard, Hot Water, Natural Gas
Concrete, Finished, Full, Unfinished
Electric Water Heater
Paved, Driveway, Off Street
Duplex
Building Details
Building Size
3,560 SF
Year Built
1991
Stories
2
Listing Agency:
Nancy Jenkins Real Estate
Listed By:
The Nancy Jenkins Team
(802) 654-8500
Source:
Evrealestate
Added: Aug 26
Changed: Sep 26
Last Checked: Sep 26 at 10:36AM
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 Nancy Jenkins Real Estate
Investment Insights
Based on property information with market context.
Built in 1991, this 2,390-square-foot duplex contains two similar apartments, each with four bedrooms and one full bathroom. The full poured-concrete basement provides a separate locked storage area for each unit, along with shared laundry and both interior and exterior access. A newer roof and two on-demand boilers are among the improvements made within the last six years.
The property is on North Winooski Avenue in Burlington, with bus service nearby and access to I-89. Downtown Burlington, Winooski, the waterfront, UVM Medical Center and BTV Airport are identified nearby, along with restaurants and shopping.
The property is on North Winooski Avenue in Burlington, with bus service nearby and access to I-89. Downtown Burlington, Winooski, the waterfront, UVM Medical Center and BTV Airport are identified nearby, along with restaurants and shopping.
Key Highlights
- Two apartments, each with 4 bedrooms and 1 full bath
- 2,390 square feet; built in 1991
- Full poured‑concrete basement with locked storage for each apartment
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
$26,397
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
2.84%
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%
$527,940
$527.9K
Cap Rate 7%
$377,100
$377.1K
Cap Rate 9%
$293,300
$293.3K
Market Conditions
NOI Build-Up for 2,390 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
$38.1K $15.96/SF
− Vacancy
−$435 −$0.18/SF
EGI
$37.7K $15.78/SF
− OpEx
−$11.3K −$4.73/SF
NOI
$26.4K $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%
$527,940
Cap Rate 7%
$377,100
Cap Rate 9%
$293,300
Alternative Uses
Best Use
Multifamily LT 5
$377.1K
$330.0K – $440.0K
NOI $26,397 @ 7.0% cap · market cap 2.84%
Second Best
Apartment 5plus
$334.0K
$292.2K – $389.6K
NOI $23,377 @ 7.0% cap · market cap 2.52%
Theoretical Best
Office A
$655.5K
$573.6K – $764.8K
NOI $45,888 @ 7.0% cap · market cap 4.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,154
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two four-bedroom apartments share a full basement with dedicated locked storage and common laundry.
Where is this duplex located?
The property is located at 362 North Winooski Avenue Burlington, VT.
What is the asking price?
The asking price for this property is $929,000.
What are key features of this property?
This property features: Two apartments, each with 4 bedrooms and 1 full bath; 2,390 square feet; built in 1991; Full poured‑concrete basement with locked storage for each apartment
