Side-by-Side Duplex with Private
For Sale
$750,000
59-61 Church Street, Richmond, VT 05477
Two-story duplex built in 1900 with bright, townhouse-style layouts, private decks, and a shared neighborhood setting.
Property Size2,560 SF
Price / SF$292.97
Days on Market69
Property Features for 59-61 Church Street
General Information
Standard status
Active
Size
2,560 SF
Total Parking Spaces
2
Property subtype
Multi-family
Additional Details
Multifamily Units
2
Building Details
Year Built
1900
Stories
2
Tenancy
Multi
Listing Agency:
RE/MAX North Professionals
(802) 655-3333
Listed By:
Linda St. Amour
(603) 763-4932
Source:
Harborlightrealty
Added: Jun 23
Changed: Aug 27
Last Checked: Aug 29 at 11:12AM
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 two-story duplex was originally built in 1900 and retains period character with high ceilings, original trim, and most original hardwood and softwood floors. The configuration is townhouse style side by side, with each unit offering nearly identical spacious living and dining areas, three bedrooms, and a 3/4 bath on each floor. Both sides also feature a private deck and a backyard.
The property is located in the heart of Richmond Village on a dead-end street. It’s within a short stroll to village conveniences including the Library, Post Office, Village Green, Richmond Market, and nearby restaurants and a bakery.
A two-car garage is available with use on one side, supporting practical day-to-day access while keeping the duplex’s residential income layout straightforward.
The property is located in the heart of Richmond Village on a dead-end street. It’s within a short stroll to village conveniences including the Library, Post Office, Village Green, Richmond Market, and nearby restaurants and a bakery.
A two-car garage is available with use on one side, supporting practical day-to-day access while keeping the duplex’s residential income layout straightforward.
Key Highlights
- Duplex built in 1900 with original details including high ceilings and original trim
- Townhouse‑style side‑by‑side layout with nearly 1,300 sq. ft. per unit
- Each unit offers 3 bedrooms and separate, spacious living and dining 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
$28,274
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
3.77%
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%
$565,480
$565.5K
Cap Rate 7%
$403,914
$403.9K
Cap Rate 9%
$314,156
$314.2K
Market Conditions
NOI Build-Up for 2,560 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
$40.9K $15.96/SF
− Vacancy
−$466 −$0.18/SF
EGI
$40.4K $15.78/SF
− OpEx
−$12.1K −$4.73/SF
NOI
$28.3K $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%
$565,480
Cap Rate 7%
$403,914
Cap Rate 9%
$314,156
Alternative Uses
Best Use
Multifamily LT 5
$403.9K
$353.4K – $471.2K
NOI $28,274 @ 7.0% cap · market cap 3.77%
Second Best
Apartment 5plus
$357.7K
$313.0K – $417.3K
NOI $25,040 @ 7.0% cap · market cap 3.34%
Theoretical Best
Office A
$702.2K
$614.4K – $819.2K
NOI $49,152 @ 7.0% cap · market cap 6.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
204
Businesses Nearby
Explore this area
Business Placement
Demographics for 05477, VT
4,551
Population
2,111
Households
2.2
Avg Household Size
42
Median Age
64%
College-Educated
98%
High-School Grad
33.4 sq mi
ZIP Area
136
Density / Sq Mi
$118,214
Median Household Income
$58,329
Median Earnings
$1,188
Median Rent
$403,800
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-story duplex built in 1900 with bright, townhouse-style layouts, private decks, and a shared neighborhood setting.
Where is this duplex located?
The property is located at 59-61 Church Street Richmond, VT.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Duplex built in 1900 with original details including high ceilings and original trim; Townhouse‑style side‑by‑side layout with nearly 1,300 sq. ft. per unit; Each unit offers 3 bedrooms and separate, spacious living and dining rooms
