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 Changed: Sep 16 Last Checked: Sep 18 at 6:06AM

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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 includes three separate apartments within one property. The upper residence offers three bedrooms, a carpeted living room, and a full bathroom. Two lower-level apartments each provide one bedroom and one bathroom, creating a varied unit mix for rental use or owner occupancy. Interior updates and mechanical improvements have been completed, and the units are described as ready for occupancy or leasing.

Each apartment is separately metered for electricity, with occupants responsible for their own electric costs. A detached garage expands the property's utility with electrical service and a poured concrete floor, supporting storage, parking, or workshop use. Built in 1900, the property is located at 6098 Route 140 in Wallingford, Vermont, within Rutland County and ZIP Code 05742.

Key Highlights

• Three‑unit triplex with one 3‑bedroom apartment and two 1‑bedroom apartments
• 2,400 square feet of total property size
• Each apartment 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?

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6098 Route 140, Wallingford, VT 05742

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Frequently Asked Questions

What type of property is this?

Triplex - Three apartments provide varied layouts, individual electric meters, and a detached garage for storage, parking, or workshop use.

Where is this triplex located?

The property is located at 6098 Route 140 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 triplex with one 3‑bedroom apartment and two 1‑bedroom apartments; 2,400 square feet of total property size; Each apartment has its own electric meter