Duplex with Enclosed
For Sale
$579,000
40 Platt St, Winooski, VT 05404
Two separately metered units offer private laundry, individual heat sources, and enclosed south-facing porches.
Property Size1,838 SF
Price / SF$315.02
Days on Market31
Property Features for 40 Platt St
General Information
Standard status
Active
Size
1,838 SF
Property subtype
Residential Income
Units
Unit Mix
1 x 2BR, 1 x 1BR
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$8,646
Amenities
enclosed porches
in-unit washer/dryer
Listing Agency:
Vermont Real Estate Company
(802) 540-8300
Listed By:
Tim Meyer
(802) 310-9426
Source:
Exprealty
Added: Aug 12
Changed: Sep 9
Last Checked: Sep 10 at 10:47AM
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 Vermont Real Estate Company
Investment Insights
Based on property information with market context.
Built in 1890, this duplex contains a two-bedroom lower residence and a one-bedroom upper residence. Both units include enclosed south-facing porches, along with their own washer and dryer, separate utility meters, and independent heat sources. The property has received numerous updates over the years and has been maintained by the same owner for close to 50 years.
Located at 40 Platt St in Winooski, the property records a BikeScore of 58, a WalkScore of 58, and a TransitScore of 37. The setting is described as somewhat walkable and bikeable, with some transit service.
Located at 40 Platt St in Winooski, the property records a BikeScore of 58, a WalkScore of 58, and a TransitScore of 37. The setting is described as somewhat walkable and bikeable, with some transit service.
Key Highlights
- Two‑unit layout with 2‑bedroom lower unit and 1‑bedroom upper unit
- Enclosed south‑facing porch provided for each residence
- Separate meters and heat sources for both units
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
$20,300
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
3.51%
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%
$406,000
$406.0K
Cap Rate 7%
$290,000
$290.0K
Cap Rate 9%
$225,556
$225.6K
Market Conditions
NOI Build-Up for 1,838 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
$29.3K $15.96/SF
− Vacancy
−$334 −$0.18/SF
EGI
$29.0K $15.78/SF
− OpEx
−$8.7K −$4.73/SF
NOI
$20.3K $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%
$406,000
Cap Rate 7%
$290,000
Cap Rate 9%
$225,556
Alternative Uses
Best Use
Multifamily LT 5
$290.0K
$253.8K – $338.3K
NOI $20,300 @ 7.0% cap · market cap 3.51%
Second Best
Apartment 5plus
$256.8K
$224.7K – $299.6K
NOI $17,978 @ 7.0% cap · market cap 3.11%
Theoretical Best
Office A
$504.1K
$441.1K – $588.2K
NOI $35,290 @ 7.0% cap · market cap 6.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
803
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
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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 separately metered units offer private laundry, individual heat sources, and enclosed south-facing porches.
Where is this duplex located?
The property is located at 40 Platt St Winooski, VT.
What is the asking price?
The asking price for this property is $579,000.
What are key features of this property?
This property features: Two‑unit layout with 2‑bedroom lower unit and 1‑bedroom upper unit; Enclosed south‑facing porch provided for each residence; Separate meters and heat sources for both units
