Duplex with Attached
New
For Sale
$425,000
50 North Cove Road, Burlington, VT 05408
Multi-Family, Burlington, VT
Property Size2,052 SF
Lot Size0.66 Acres
Price / SF$207.12
Days on Market1
Property Features for 50 North Cove Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R2
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bedroom 1, Bedroom 2, Basement, Bathroom 1, Bathroom 2, Bedroom 3
Patio and Porch features
Deck
Exterior features
Deck, Natural Shade
Appliances
Water Heater
Lot features
Level, Recreational, Trail/ Near Trail, View, Near Paths
High school
Burlington High School
Elementary school district
Burlington School District
Middle school district
Burlington School District
High school district
Burlington School District
Standard status
Active
Size
2,052 SF
Lot size
0.66 Acres
Taxes and HOA fees
Tax Year
2027
Tax Annual Amount
10447
Utilities
Utilities
Propane
Heating system
Propane (Heating), Oil
Water source
Public
Building Details
Year built
1940
Floors in Building
2
Number of units
2
Building materials
Wood Frame
Roof type
Shingle
Architectural style
Other
Listing Agency:
RE/MAX North Professionals · RE/MAX International
(802) 655-3333
Listed By:
Darcy Handy · License #82.0134313
(802) 655-3333
Added: Aug 28
Last Checked: Aug 28 at 7:06PM
MLS# 5107191
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.
Investment Insights
Based on property information with market context.
This 1940 duplex contains 2,052 square feet on a 0.66-acre parcel and is currently rented. One residence has two bedrooms and one full bathroom. The second includes two bedrooms plus three bonus rooms, along with living, dining, kitchen, and mudroom areas. A back deck and attached 2-car garage add useful exterior and storage space.
The property is located at 50 North Cove Road in Burlington, with access to the Burlington Bike Path, Winooski River, Lake Champlain, parks, recreation, shopping, dining, and downtown Burlington. The site is zoned R2 and includes public water, propane utilities, wood-frame construction, and a shingle roof. Natural shade and a deck are among the exterior features.
The property is located at 50 North Cove Road in Burlington, with access to the Burlington Bike Path, Winooski River, Lake Champlain, parks, recreation, shopping, dining, and downtown Burlington. The site is zoned R2 and includes public water, propane utilities, wood-frame construction, and a shingle roof. Natural shade and a deck are among the exterior features.
Key Highlights
- 2,052‑square‑foot duplex on 0.66 acres
- Both units are currently rented
- Unit B includes 2 bedrooms and 3 bonus rooms
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
Lease Details
2
Residential units
100%
Occupancy
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Rented two-unit property with flexible layouts, outdoor space, and convenient access to Burlington recreation and daily amenities.
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 on 0.66 acres; Both units are currently rented; Unit B includes 2 bedrooms and 3 bonus rooms
