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

    38 Long Street, Barre, VT 05641

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    Claim this Listing
    For Sale
    Under Contract
    $319,000

    MULTI_FAMILY - Other - Barre City, VT

    Property size:
    2,388 SF
    Lot size:
    0.20 Acres
    Price / SF:
    $133/SF
    Added:
    Apr 7, 2026
    Days on Market:
    60
    Last Refresh:
    Jun 5 at 2:06 pm

    Property Features for 38 Long Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    Res 4
    Bedrooms
    7
    Bathrooms
    3
    Rooms
    Basement, Bedroom 5, Bathroom 3, Bedroom 2, Bathroom 2, Bedroom 3, Bedroom 7, Bathroom 1, Bedroom 4, Bedroom 1, Bedroom 6
    Patio and Porch features
    Porch
    Exterior features
    Porch
    Standard status
    Active Under Contract
    Size
    2,388 SF
    Lot size
    0.20 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    7017

    Utilities

    Utilities
    Cable Available
    Heating system
    Oil, Baseboard
    Water source
    Public

    Building Details

    Year built
    1894
    Floors in Building
    3
    Number of units
    3
    Building materials
    Wood Frame
    Roof type
    Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    Lauren Gould

    Listing agent Lauren Gould

    Listing office Green Light Real Estate 63 Barre Street., Montpelier, VT

    Listing date Apr 7, 2026

    MLS# 5082435 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

    • Well‑maintained 3‑unit property on a quiet residential street
    • Built in 1894 with wood‑frame construction and shingle roof
    • Unit 1: 3BR/1BA with renovations including new flooring and fresh paint
    • Unit 2: 2BR/1BA with an additional bonus room; new flooring being installed
    • Unit 3: 2BR/1BA and currently leased month‑to‑month with newer stove and new kitchen‑area flooring
    • Public water and cable available; includes porch and off‑street parking

    Overview

    This well-maintained three-unit residential property offers a practical mix of updated living space and income potential, with multiple bedroom and layout configurations across the building. The first-floor unit is a 3-bedroom, 1-bath home that has been renovated with new flooring and fresh paint, plus a large kitchen and living room and washer/dryer hookups. The second unit is a 2-bedroom, 1-bath layout with an additional bonus room that could be finished to add more usable living area; new flooring is currently being installed. The third-level unit contains 2 bedrooms and 1 bathroom and is currently leased on a month-to-month basis, with newer flooring in the kitchen area and a newer stove.

    The property is located on a quiet residential street. It sits on a large corner lot and includes plenty of off-street parking, with space outdoors for recreation.

    For buyers considering either an owner-occupied arrangement or a residential income approach, the building’s mix of renovated and ready-to-lease units can support flexible occupancy planning. The month-to-month structure of the third unit provides an ongoing rental component while still aligning with an owner-occupant strategy.
    Property Profile Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Barre
    County
    Washington
    State
    Vermont
    Longitude
    -72.5021358
    Latitude
    44.2055542

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    FAQs

    What type of property is this?
    Triplex - Well-maintained three-unit building with updated first-floor finishes, off-street parking, and strong owner-occupant flexibility.
    Where is this triplex located?
    The property is located at 38 Long Street Barre, VT.
    What is the asking price?
    The asking price for this property is $319,000.
    What are key features of this property?
    This property features: Well‑maintained 3‑unit property on a quiet residential street; Built in 1894 with wood‑frame construction and shingle roof; Unit 1: 3BR/1BA with renovations including new flooring and fresh paint
    (802) 225-6425
    We can help!
    Listing Contact
    Lauren Gould
    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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