Historic Brick Short-Term Rental
For Sale
$999,000
695 Us Route 2, Milton, VT 05468
Flexible residence with multiple living areas, two barns, and established short-term rental history on nearly 17 acres.
Property Size3,736 SF
Lot Size17.00 Acres
Price / SF$267.40
Days on Market11
Property Features for 695 Us Route 2
General Information
Standard status
Active
Size
3,736 SF
Lot size
17.00 Acres
Property subtype
Multi-Family
Building Details
Year Built
1848
Construction
brick
Listing Agency:
BHHS Vermont Realty Group/Morrisville-Stowe
(802) 888-0021
Listed By:
Trombley & Day Group
Source:
603luxury
Added: Aug 20
Changed: Aug 29
Last Checked: Aug 25 at 3:50AM
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 BHHS Vermont Realty Group/Morrisville-Stowe
Investment Insights
Based on property information with market context.
This brick residence offers 3,736 square feet of adaptable living space across an original home and a later addition. The layout includes a living room, dining room, kitchen, sunroom, family room, den, and additional bedroom areas, along with an open-concept living, dining, and kitchen space. Two barns provide additional space for storage, workshops, hobbies, or agricultural use. Original detailed trimwork and a documented connection to Ethan Allen contribute to the property's historic character.
The property encompasses nearly 17 acres and adjoins approximately 1,500 acres of state land, creating a setting with substantial surrounding open space. It is next to Sand Bar Beach at the gateway to the Champlain Islands, while the Burlington area is approximately a 20-minute drive away. The residence has also operated successfully as an Airbnb, providing established short-term rental history.
The property encompasses nearly 17 acres and adjoins approximately 1,500 acres of state land, creating a setting with substantial surrounding open space. It is next to Sand Bar Beach at the gateway to the Champlain Islands, while the Burlington area is approximately a 20-minute drive away. The residence has also operated successfully as an Airbnb, providing established short-term rental history.
Key Highlights
- 3,736‑square‑foot brick residence with flexible living areas and an open‑concept addition
- Nearly 17 acres adjoining approximately 1,500 acres of state land
- Two barns for storage, workshops, hobbies, or agricultural use
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
$36,543
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
3.66%
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%
$730,860
$730.9K
Cap Rate 7%
$522,043
$522.0K
Cap Rate 9%
$406,033
$406.0K
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
$67.2K $18.00/SF
− Vacancy
−$807 −$0.22/SF
EGI
$66.4K $17.78/SF
− OpEx
−$29.9K −$8.00/SF
NOI
$36.5K $9.78/SF
Area
Chittenden County, VT
Vacancy
1.20%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
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%
$730,860
Cap Rate 7%
$522,043
Cap Rate 9%
$406,033
Alternative Uses
Best Use
Apartment 5plus
$522.0K
$456.8K – $609.1K
NOI $36,543 @ 7.0% cap · market cap 3.66%
Second Best
—
—
no second resolved use
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
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Frequently Asked Questions
What type of property is this?
Short term rental property - Flexible residence with multiple living areas, two barns, and established short-term rental history on nearly 17 acres.
Where is this short term rental property 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 brick residence with flexible living areas and an open‑concept addition; Nearly 17 acres adjoining approximately 1,500 acres of state land; Two barns for storage, workshops, hobbies, or agricultural use
