Duplex with Spacious Owner’s
For Sale
$725,000
Pending
468 North Street, Burlington, VT 05401
Classic architectural details, hardwood floors, and a separate upper-level apartment near UVM.
Property Size3,122 SF
Days on Market221
Property Features for 468 North Street
General Information
Standard status
Pending
Size
3,122 SF
Property subtype
Multi Family
Zoning
RL
Taxes and HOA fees
Annual Taxes
$17,086
Amenities
Natural Gas, Baseboard, Direct Vent, Electric, Gas Heater, Hot Water, Monitor Type, Radiator, Wall Units, Boiler
Yes
Hardwood
Water Heater off Boiler
1.5
3
Walkout
Basement Stairs, Bulkhead, Concrete Floor, Exterior Access, Exterior Stairs, Interior Access, Interior Stairs, Partially Finished, Storage Space, Walkout
11
Slate
White
Wood Frame
Building Details
Year Built
1922
Listing Agency:
Wynne Associates Inc.
(802) 324-3300
Listed By:
Joan Shannon
(802) 324-3300
Source:
Compass
Added: Jan 23
Changed: Aug 31
Last Checked: Aug 31 at 6:24AM
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 Wynne Associates Inc.
Investment Insights
Based on property information with market context.
Built in 1922, this duplex combines period character with a substantial owner-occupied layout and a separate apartment above. The first-floor residence measures 1,800 square feet and includes three bedrooms, a full bath, living and dining rooms, a kitchen, sunroom, gas fireplace, hardwood flooring, and original glass doorknobs. Large windows and a south-facing bay window bring natural light into the main living areas.
The second floor contains a 1,300-square-foot, two-bedroom, one-bath apartment. The basement is connected to the owner’s unit and includes laundry, a full bath, root cellar, and storage, along with interior and exterior access. It was previously arranged as a one-bedroom apartment; any future habitable use should be verified with the building inspector. The property is located on North Street in Burlington near UVM and is zoned RL.
The second floor contains a 1,300-square-foot, two-bedroom, one-bath apartment. The basement is connected to the owner’s unit and includes laundry, a full bath, root cellar, and storage, along with interior and exterior access. It was previously arranged as a one-bedroom apartment; any future habitable use should be verified with the building inspector. The property is located on North Street in Burlington near UVM and is zoned RL.
Key Highlights
- 1,800 SF first‑floor owner’s residence with 3 bedrooms and 1 full bath
- 1,300 sq. ft. second‑floor apartment with 2 bedrooms and 1 bath
- Built in 1922 with original glass doorknobs and hardwood floors
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
$34,481
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
4.76%
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%
$689,620
$689.6K
Cap Rate 7%
$492,586
$492.6K
Cap Rate 9%
$383,122
$383.1K
Market Conditions
NOI Build-Up for 3,122 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
$49.8K $15.96/SF
− Vacancy
−$568 −$0.18/SF
EGI
$49.3K $15.78/SF
− OpEx
−$14.8K −$4.73/SF
NOI
$34.5K $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%
$689,620
Cap Rate 7%
$492,586
Cap Rate 9%
$383,122
Alternative Uses
Best Use
Multifamily LT 5
$492.6K
$431.0K – $574.7K
NOI $34,481 @ 7.0% cap · market cap 4.76%
Second Best
Apartment 5plus
$436.2K
$381.7K – $509.0K
NOI $30,537 @ 7.0% cap · market cap 4.21%
Theoretical Best
Office A
$856.3K
$749.3K – $999.0K
NOI $59,942 @ 7.0% cap · market cap 8.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,503
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
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Frequently Asked Questions
What type of property is this?
Duplex - Classic architectural details, hardwood floors, and a separate upper-level apartment near UVM.
Where is this duplex located?
The property is located at 468 North Street Burlington, VT.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: 1,800 SF first‑floor owner’s residence with 3 bedrooms and 1 full bath; 1,300 sq. ft. second‑floor apartment with 2 bedrooms and 1 bath; Built in 1922 with original glass doorknobs and hardwood floors
