Five-Unit Apartment
For Sale
$415,000
52 Chestnut Ave, Rutland, VT 05701
Five income-producing units with a mix of studio, one-, and two-bedroom apartments, with recent renovations noted.
Property Size2,250 SF
Price / SF$184.44
Days on Market231
Property Features for 52 Chestnut Ave
General Information
Standard status
Active
Size
2,250 SF
Property subtype
Multi-Family
Additional Details
Cap Rate
12.64%
Multifamily Units
5
Building Details
Year Built
1899
Tenancy
Multi
Listing Agency:
Casella Real Estate
Listed By:
Hughes Group Team
(802) 772-7487
Source:
Langelange
Added: Mar 13
Changed: Oct 25
Last Checked: Oct 7 at 1:03PM
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 Casella Real Estate
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Investment Insights
Based on property information with market context.
This five-unit apartment building provides income-producing space in a configuration of one 2-bedroom unit, three 1-bedroom units, and one studio. The property is described as having several thoughtful renovations and updates already completed, which may help reduce near-term capital expenditure needs while supporting tenant retention.
The building is positioned in a desirable area described as within walking distance to downtown Rutland, public transportation, restaurants, retail, and essential services.
Financial information provided in the remarks includes $68,400 gross annual income and $53,731 net operating income, reflecting a 12.64% cap rate at the asking price.
The building is positioned in a desirable area described as within walking distance to downtown Rutland, public transportation, restaurants, retail, and essential services.
Financial information provided in the remarks includes $68,400 gross annual income and $53,731 net operating income, reflecting a 12.64% cap rate at the asking price.
Key Highlights
- Five income‑producing units: 1 two‑bedroom, 3 one‑bedroom, and 1 studio apartment
- Corrected financials: $68,400 gross annual income, $53,731 net operating income, and a 12.64% cap rate at the asking price
- 2‑story wood frame, vinyl exterior building with an asphalt shingle roof
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,647
Cap Rate
4.73%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$392,940
$392.9K
Cap Rate 7%
$280,671
$280.7K
Cap Rate 9%
$218,300
$218.3K
Market Conditions
NOI Build-Up for 2,250 SF
Gross rent
$36.5K $16.20/SF
− Vacancy
−$729 −$0.32/SF
EGI
$35.7K $15.88/SF
− OpEx
−$16.1K −$7.14/SF
NOI
$19.6K $8.73/SF
Area
Rutland County, VT
Vacancy
2.00%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$392,940
Cap Rate 7%
$280,671
Cap Rate 9%
$218,300
Alternative Uses
Best Use
Apartment 5plus
$280.7K
$245.6K – $327.5K
NOI $19,647 @ 7.0% cap · market cap 4.73%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$391.8K
$342.8K – $457.1K
NOI $27,423 @ 7.0% cap · market cap 6.61%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
5
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,350
Businesses Nearby
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Business Placement
Demographics for 05701, VT
20,349
Population
10,528
Households
1.9
Avg Household Size
48
Median Age
34%
College-Educated
93%
High-School Grad
67.7 sq mi
ZIP Area
301
Density / Sq Mi
$58,744
Median Household Income
$41,391
Median Earnings
$963
Median Rent
$202,800
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
Frequently Asked Questions
What type of property is this?
Apartment building - Five income-producing units with a mix of studio, one-, and two-bedroom apartments, with recent renovations noted.
Where is this apartment building located?
The property is located at 52 Chestnut Ave Rutland, VT.
What is the asking price?
The asking price for this property is $415,000.
What are key features of this property?
This property features: Five income‑producing units: 1 two‑bedroom, 3 one‑bedroom, and 1 studio apartment; Corrected financials: $68,400 gross annual income, $53,731 net operating income, and a 12.64% cap rate at the asking price; 2‑story wood frame, vinyl exterior building with an asphalt shingle roof
