Triplex with Detached
For Sale
$749,000
61 South Union Street, Burlington, VT 05401
Multi-Family, Burlington, VT
Property Size2,849 SF
Lot Size0.16 Acres
Price / SF$262.90
Days on Market180
Property Features for 61 South Union Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Residential
Bedrooms
7
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 7, Bathroom 2, Bedroom 4, Bedroom 3, Bathroom 3, Bathroom 1, Bedroom 6, Bedroom 5, Bedroom 2, Basement, Bedroom 1
Parking features
Garage, Off Street, On Street
Patio and Porch features
Porch
Exterior features
Porch, Enclosed Porch
Appliances
Gas Water Heater, Owned Water Heater
Lot features
City Lot, In Town, Near Hospital
Middle school
Edmunds Middle School
High school
Burlington High School
Elementary school district
Burlington School District
Middle school district
Burlington School District
High school district
Burlington School District
Standard status
Active
Size
2,849 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
14073
Utilities
Heating system
Natural Gas, Baseboard
Water source
Public
Building Details
Year built
1899
Floors in Building
3
Number of units
3
Flooring type
Hardwood, Carpet, Wood, Laminate
Building materials
Vinyl Siding
Roof type
Slate
Architectural style
Other
Listing Agency:
BHHS Vermont Realty Group/Burlington · Berkshire Hathaway HomeServices
(802) 864-9856
Listed By:
Charles C. Burns
(802) 658-5555
Added: Feb 23
Changed: Aug 21
Last Checked: Aug 22 at 2:06AM
MLS# 5077554
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.
Investment Insights
Based on property information with market context.
This residential triplex occupies a 0.16-acre parcel and provides 2,849 square feet of building area. The property includes 7 bedrooms, 3 bathrooms, a basement, porches, and a detached single-car garage. A sprinkler system serves the building. Interior finishes include hardwood, wood, carpet, and laminate flooring, while exterior features include vinyl siding and a slate roof. Natural gas baseboard heat and public water are in place, and the property was built in 1899.
Located at 61 South Union Street in Burlington, the property is positioned between UVM and downtown. Parking includes the detached garage along with off-street and on-street options. Residential zoning supports the property's multifamily configuration.
Located at 61 South Union Street in Burlington, the property is positioned between UVM and downtown. Parking includes the detached garage along with off-street and on-street options. Residential zoning supports the property's multifamily configuration.
Key Highlights
- Triplex with 2,849 square feet on 0.16 acres
- 7 bedrooms and 3 bathrooms
- Detached single‑car garage
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
$31,466
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
4.20%
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%
$629,320
$629.3K
Cap Rate 7%
$449,514
$449.5K
Cap Rate 9%
$349,622
$349.6K
Market Conditions
NOI Build-Up for 2,849 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
$45.5K $15.96/SF
− Vacancy
−$518 −$0.18/SF
EGI
$45.0K $15.78/SF
− OpEx
−$13.5K −$4.73/SF
NOI
$31.5K $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%
$629,320
Cap Rate 7%
$449,514
Cap Rate 9%
$349,622
Alternative Uses
Best Use
Multifamily LT 5
$449.5K
$393.3K – $524.4K
NOI $31,466 @ 7.0% cap · market cap 4.20%
Second Best
Apartment 5plus
$398.1K
$348.3K – $464.5K
NOI $27,867 @ 7.0% cap · market cap 3.72%
Theoretical Best
Office A
$781.4K
$683.8K – $911.7K
NOI $54,701 @ 7.0% cap · market cap 7.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
4,148
Businesses Nearby
Explore this area
Business Placement
Demographics for 05401, VT
32,059
Population
13,898
Households
2.3
Avg Household Size
28
Median Age
63%
College-Educated
95%
High-School Grad
6.1 sq mi
ZIP Area
5,256
Density / Sq Mi
$60,532
Median Household Income
$23,422
Median Earnings
$1,614
Median Rent
$463,300
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?
Triplex - Three residential units offer seven bedrooms, three bathrooms, off-street parking, and sprinkler protection.
Where is this triplex located?
The property is located at 61 South Union Street Burlington, VT.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: Triplex with 2,849 square feet on 0.16 acres; 7 bedrooms and 3 bathrooms; Detached single‑car garage
