Duplex Property with Historic Brick
For Sale
$999,000
695 US Route 2, Milton, VT 05468
Multi-Family, Milton, VT
Property Size3,736 SF
Lot Size16.90 Acres
Price / SF$267.40
Days on Market11
Property Features for 695 US Route 2
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Yes
Rooms
Basement
Patio and Porch features
Patio
Exterior features
Patio
Lot features
Country Setting, Horse/ Animal Farm, Field/ Pasture
Elementary school
Milton Elementary School
Middle school
Milton Jr High School
High school
Milton Senior High School
Elementary school district
Milton Town
Middle school district
Milton Town
High school district
Milton Town
Directions
Route 2 North located on the right before the Sand Bar Beach.
Standard status
Active
Size
3,736 SF
Lot size
16.90 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
11139
Utilities
Heating system
Propane (Heating), Radiant
Water source
Spring
Building Details
Year built
1848
Floors in Building
2
Number of units
2
Flooring type
Wood, Slate
Building materials
Brick Exterior, Vinyl Siding
Roof type
Metal, Shingle
Architectural style
Colonial
Listing Agency:
BHHS Vermont Realty Group/Morrisville-Stowe · Berkshire Hathaway HomeServices
(802) 888-0021
Listed By:
Trombley & Day Group
(802) 658-5555
Added: Aug 12
Changed: Aug 20
Last Checked: Aug 22 at 8:06PM
MLS# 5104620
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 3,736-square-foot duplex property combines a historic brick residence with an expansive addition and a flexible interior arrangement. The original portion includes three bedrooms and a den upstairs, along with living, dining, kitchen, sunroom, and family room spaces on the main level. The addition contributes an open living, dining, and kitchen area plus another second-floor bedroom. Wood and slate flooring, original detailed trimwork, a patio, and mixed brick and vinyl siding add to the property's character. Two barns provide additional space for storage, workshops, hobbies, or agricultural use.
Set on 16.9 acres beside Sand Bar Beach, the property is surrounded by approximately 1,500 acres of state land. Burlington is approximately a 20-minute drive away. The property also has an established Airbnb history, adding a documented short-term rental use to its residential configuration.
Set on 16.9 acres beside Sand Bar Beach, the property is surrounded by approximately 1,500 acres of state land. Burlington is approximately a 20-minute drive away. The property also has an established Airbnb history, adding a documented short-term rental use to its residential configuration.
Key Highlights
- 3,736‑square‑foot duplex property with a flexible floor plan
- 16.9‑acre setting beside Sand Bar Beach
- Surrounded by 1500 +/- acres of state land
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
$41,263
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
4.13%
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%
$825,260
$825.3K
Cap Rate 7%
$589,471
$589.5K
Cap Rate 9%
$458,478
$458.5K
Market Conditions
NOI Build-Up for 3,736 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
$59.6K $15.96/SF
− Vacancy
−$680 −$0.18/SF
EGI
$58.9K $15.78/SF
− OpEx
−$17.7K −$4.73/SF
NOI
$41.3K $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%
$825,260
Cap Rate 7%
$589,471
Cap Rate 9%
$458,478
Alternative Uses
Best Use
Multifamily LT 5
$589.5K
$515.8K – $687.7K
NOI $41,263 @ 7.0% cap · market cap 4.13%
Second Best
Apartment 5plus
$522.0K
$456.8K – $609.1K
NOI $36,543 @ 7.0% cap · market cap 3.66%
Theoretical Best
Office A
$1.02M
$896.6K – $1.20M
NOI $71,731 @ 7.0% cap · market cap 7.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1
Businesses Nearby
Explore this area
Business Placement
Demographics for 05468, VT
13,369
Population
5,137
Households
2.6
Avg Household Size
42
Median Age
32%
College-Educated
93%
High-School Grad
62.5 sq mi
ZIP Area
214
Density / Sq Mi
$112,122
Median Household Income
$56,394
Median Earnings
$1,537
Median Rent
$340,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Historic brick construction, flexible living areas, two barns, and established short-term rental history define this Milton property.
Where is this duplex located?
The property is located at 695 US Route 2 Milton, VT.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: 3,736‑square‑foot duplex property with a flexible floor plan; 16.9‑acre setting beside Sand Bar Beach; Surrounded by 1500 +/- acres of state land
