Brick Duplex with Front
87 Spring Street, Burlington, VT 05401
For Sale
$499,000
Separate utilities and tenant-paid heat and electricity provide distinct service arrangements for the two residences.
Property Size1,440 SF
Price / SF$346.53
Days on Market111
Property Features for 87 Spring Street
General Information
Standard status
Size
Property subtype
Units
Multifamily Units
Individually Metered Utilities
Additional Details
Tenant in Place
Amenities
deck
Building Details
Year Built
Buildings
Construction
Listing Agency:
Coldwell Banker Hickok and Boardman
(802) 863-1500
Listed By:
Lipkin Audette Team
(802) 846-8800
Source:
Longviewcre
Added: Jul 22
Changed: Nov 9
Last Checked: Nov 9 at 4:25PM
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 Coldwell Banker Hickok and Boardman
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Investment Insights
Based on property information with market context.
Built in 1899, this 1,440-square-foot brick duplex has a two-story front deck oriented toward the grounds of Integrated Arts Academy. Recent work includes flooring, kitchen, and bathroom updates. The building has separate utilities, and tenants pay for heat and electricity; off-street parking is also available.
The property is in Burlington’s Old North End, with restaurants, parks, downtown Burlington, and a weekly Tuesday farmers market among the nearby amenities.
The property is in Burlington’s Old North End, with restaurants, parks, downtown Burlington, and a weekly Tuesday farmers market among the nearby amenities.
Key Highlights
- 1,440‑square‑foot brick duplex built in 1899
- Two‑story front deck faces the Integrated Arts Academy grounds
- Separate utilities; tenants pay their own heat and electricity
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,904
Cap Rate
3.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$318,080
$318.1K
Cap Rate 7%
$227,200
$227.2K
Cap Rate 9%
$176,711
$176.7K
Market Conditions
NOI Build-Up for 1,440 SF
Gross rent
$23.0K $15.96/SF
− Vacancy
−$262 −$0.18/SF
EGI
$22.7K $15.78/SF
− OpEx
−$6.8K −$4.73/SF
NOI
$15.9K $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 Rate 5%
$318,080
Cap Rate 7%
$227,200
Cap Rate 9%
$176,711
Alternative Uses
Best Use
Multifamily LT 5
$227.2K
$198.8K – $265.1K
NOI $15,904 @ 7.0% cap · market cap 3.19%
Second Best
Apartment 5plus
$201.2K
$176.1K – $234.8K
NOI $14,085 @ 7.0% cap · market cap 2.82%
Theoretical Best
Office A
$395.0K
$345.6K – $460.8K
NOI $27,648 @ 7.0% cap · market cap 5.54%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
932
Businesses Nearby
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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
$463,300
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Burlington, VT
Properties on Market for Duplexes in Burlington
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Separate utilities and tenant-paid heat and electricity provide distinct service arrangements for the two residences.
Where is this duplex located?
The property is located at 87 Spring Street Burlington, VT.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: 1,440‑square‑foot brick duplex built in 1899; Two‑story front deck faces the Integrated Arts Academy grounds; Separate utilities; tenants pay their own heat and electricity
