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    Updated Multi-Family with Lake Views Title is generated by Realmo AI

    56 Wright Avenue, Burlington, VT 05401

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    For Sale
    $1,500,000

    Multi-Family - Burlington, VT

    Property size:
    1,066 SF
    Lot size:
    0.14 Acres
    Price / SF:
    $1,407/SF
    Added:
    Apr 13, 2026
    Days on Market:
    38
    Last Refresh:
    May 20 at 3:06 pm

    Property Features for 56 Wright Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    Res Med density
    Bedrooms
    3
    Bathrooms
    3
    Rooms
    Basement, Bathroom 1, Bathroom 2, Bathroom 3, Bedroom 1, Bedroom 2, Bedroom 3
    Parking features
    Paved or Surfaced
    EntryLevel
    Unit 1: 56a,Unit 2: 56b,Unit 3: 56c
    Basement Y/N
    1
    Appliances
    Range, Refrigerator
    Standard status
    Active
    Size
    1,066 SF
    Lot size
    0.14 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    11060.24

    Utilities

    Heating system
    Baseboard
    Cooling system
    Zoned

    Building Details

    Year built
    1935
    Floors in Building
    1.75
    Number of units
    3
    Flooring type
    Carpet, Laminate, Vinyl
    Roof type
    Asphalt, Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    Brian French
    Brian French

    Listing agent Brian French

    Listing office Brian French Real Estate 1993 Williston Rd, South Burlington, VT

    Listing date Apr 13, 2026

    MLS# 5083392 Listing URL

    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.

    HighLights

    • Stunning Lake Champlain views from all three units.
    • Turnkey, updated 3‑unit property in Burlington's desirable South End.
    • Recent upgrades including new windows, doors, flooring, and updated bathrooms.
    • New electrical service, upgraded plumbing, and on‑demand hot water system (2026).
    • Energy‑efficient mini‑split systems and professional insulation for year‑round comfort.
    • Ideally located near the Burlington Bike Path, UVM Medical Center, and Church Street Marketplace.

    Overview

    This updated 3-unit property is located in Burlington's South End and offers views of Lake Champlain from each apartment. The well-maintained building features three one-bedroom units, each upgraded with quality finishes and modern systems. Recent improvements include new windows, Therma-Tru exterior doors, and new flooring. The bathrooms have been updated with tiled showers. The property benefits from a new electrical service, upgraded plumbing, and an on-demand hot water system (2026). Additional features include energy-efficient mini-split systems, professional insulation, and newly constructed covered porches with Trex decking. The property is located near the Burlington Bike Path, University of Vermont Medical Center, and Church Street Marketplace, with proximity to the Burlington waterfront, local shops, and restaurants. The lot size is 0.14 acres. The property size is 1066 square feet. The zoning is Res Med density.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Dental Office Spa & Massage Center Hair Salon Nail Salon Building Supply Accounting Firm Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Burlington
    County
    Chittenden
    State
    Vermont
    Longitude
    -73.2210985
    Latitude
    44.4602617

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    FAQs

    What type of property is this?
    Triplex - Updated 3-unit property in Burlington's South End with lake views.
    Where is this triplex located?
    The property is located at 56 Wright Avenue Burlington, VT.
    What is the asking price?
    The asking price for this property is $1,500,000.
    What are key features of this property?
    This property features: Stunning Lake Champlain views from all three units.; Turnkey, updated 3‑unit property in Burlington's desirable South End.; Recent upgrades including new windows, doors, flooring, and updated bathrooms.
    (802) 862-6433
    We can help!
    Listing Contact
    Brian French
    Brian French
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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