Building Details

Year built 1900

Listing Agency: Engel & Volkers Okemo · Engel & Völkers O***@engelvoelkers.com Show Phone

Listed By: Gail Beardmore Show Phone

Added: Sep 12 Last Checked: Sep 13 at 7:06AM

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MLS# 5109480

Copyright © 2026 Engel & Völkers. 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 2,400-square-foot triplex contains three separate apartments. The upper-level unit has three bedrooms, a carpeted living room, and a full bathroom. Two additional one-bedroom, one-bath units occupy the lower level, creating a varied unit mix within one building. Improvements have been completed throughout, including upgrades to the mechanical systems.

Each apartment is separately metered for electricity, with individual tenants responsible for their electric costs. A detached garage provides additional space and includes electrical service and a poured concrete floor. Built in 1900, the property is located at 6098 140 Route in East Wallingford, with access to area amenities.

Key Highlights

• Three‑unit configuration with one three‑bedroom apartment and two one‑bedroom, one‑bath apartments
• 2,400 square feet of total property size
• Each unit has its own electric meter

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

$22,744

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

6.16%

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%

$454,880 $454.9K

Cap Rate 7%

$324,914 $324.9K

Cap Rate 9%

$252,711 $252.7K

Market Conditions

NOI Build-Up for 2,400 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

$33.1K $13.80/SF

− Vacancy

−$629 −$0.26/SF

EGI

$32.5K $13.54/SF

− OpEx

−$9.7K −$4.06/SF

NOI

$22.7K $9.48/SF

Area

Rutland County, VT

Vacancy

1.90%

Lease Rate

$13.80 /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%

$454,880

Cap Rate 7%

$324,914

Cap Rate 9%

$252,711

Alternative Uses

Best Use

Multifamily LT 5

$324.9K

$284.3K – $379.1K (±1% cap)

NOI $22,744 @ 7.0% cap · market cap 6.16%

Second Best

Apartment 5plus

$299.4K

$262.0K – $349.3K (±1% cap)

NOI $20,956 @ 7.0% cap · market cap 5.68%

Theoretical Best

Healthcare Medical

$417.9K

$365.6K – $487.5K (±1% cap)

NOI $29,251 @ 7.0% cap · market cap 7.93%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Triplexes

Lease Details

3

Residential units

Location Intelligence

Trade Area within ½ mile

18

Businesses Nearby

Explore this area Business Placement

Demographics for 05742, VT

641

Population

374

Households

1.7

Avg Household Size

47

Median Age

34%

College-Educated

87%

High-School Grad

24.5 sq mi

ZIP Area

26

Density / Sq Mi

$76,250

Median Household Income

$31,607

Median Earnings

$276,100

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this triplexes located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Triplex - Three distinct apartments include a three-bedroom upper unit and two one-bedroom lower units, each with a separate electric meter.

Where is this triplex located?

The property is located at 6098 140 Route Wallingford, VT.

What is the asking price?

The asking price for this property is $369,000.

What are key features of this property?

This property features: Three‑unit configuration with one three‑bedroom apartment and two one‑bedroom, one‑bath apartments; 2,400 square feet of total property size; Each unit has its own electric meter