Rented Duplex with Attached
New
For Sale
$425,000
50 North Cove Road, Burlington, VT 05408
Two leased units include flexible bonus rooms, established occupancy, and convenient access to recreation and downtown Burlington.
Property Size2,052 SF
Price / SF$207.12
Days on Market6
Property Features for 50 North Cove Road
General Information
Standard status
Active
Size
2,052 SF
Property subtype
Multi-family
Building Details
Year Built
1940
Listing Agency:
RE/MAX North Professionals
(802) 373-1251
Listed By:
Darcy Handy · License #82.0134313
(802) 846-8460
Source:
Themarcelinoteam
Added: Aug 26
Changed: Aug 31
Last Checked: Aug 31 at 7:21PM
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 RE/MAX North Professionals
Investment Insights
Based on property information with market context.
This 2,052-square-foot duplex, built in 1940, is configured for continued rental use with both units currently occupied. Unit A includes two bedrooms and one full bathroom. Unit B provides two bedrooms plus three bonus rooms, along with a living room, dining room, kitchen, mudroom, back deck, and attached two-car garage. The additional rooms offer adaptable space for offices, guests, hobbies, or storage.
Located at 50 North Cove Road in Burlington, the property provides access to the Burlington Bike Path, Winooski River, Lake Champlain, parks, shopping, dining, and downtown Burlington. The combination of existing occupancy, flexible interior space, and garage capacity gives the duplex a practical layout for a multifamily owner.
Located at 50 North Cove Road in Burlington, the property provides access to the Burlington Bike Path, Winooski River, Lake Champlain, parks, shopping, dining, and downtown Burlington. The combination of existing occupancy, flexible interior space, and garage capacity gives the duplex a practical layout for a multifamily owner.
Key Highlights
- 2,052‑square‑foot duplex built in 1940
- Both units are currently rented
- Unit A has 2 bedrooms and 1 full bath
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
$22,664
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
5.33%
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%
$453,280
$453.3K
Cap Rate 7%
$323,771
$323.8K
Cap Rate 9%
$251,822
$251.8K
Market Conditions
NOI Build-Up for 2,052 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
$32.7K $15.96/SF
− Vacancy
−$373 −$0.18/SF
EGI
$32.4K $15.78/SF
− OpEx
−$9.7K −$4.73/SF
NOI
$22.7K $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%
$453,280
Cap Rate 7%
$323,771
Cap Rate 9%
$251,822
Alternative Uses
Best Use
Multifamily LT 5
$323.8K
$283.3K – $377.7K
NOI $22,664 @ 7.0% cap · market cap 5.33%
Second Best
Apartment 5plus
$286.7K
$250.9K – $334.5K
NOI $20,071 @ 7.0% cap · market cap 4.72%
Theoretical Best
Office A
$562.8K
$492.5K – $656.6K
NOI $39,398 @ 7.0% cap · market cap 9.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
44
Businesses Nearby
Explore this area
Business Placement
Demographics for 05408, VT
10,425
Population
4,455
Households
2.3
Avg Household Size
44
Median Age
55%
College-Educated
94%
High-School Grad
4.0 sq mi
ZIP Area
2,606
Density / Sq Mi
$98,656
Median Household Income
$52,934
Median Earnings
$1,573
Median Rent
$369,400
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 - Two leased units include flexible bonus rooms, established occupancy, and convenient access to recreation and downtown Burlington.
Where is this duplex located?
The property is located at 50 North Cove Road Burlington, VT.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: 2,052‑square‑foot duplex built in 1940; Both units are currently rented; Unit A has 2 bedrooms and 1 full bath
