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    Burlington Duplex with Income Potential Title is generated by Realmo AI

    94 Park Street, Burlington, VT 05401

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    Claim this Listing
    For Sale
    Under Contract
    $725,000

    Multi-Family - Burlington, VT

    Property size:
    1,848 SF
    Lot size:
    0.16 Acres
    Price / SF:
    $392/SF
    Added:
    Jun 16, 2025
    Days on Market:
    341
    Last Refresh:
    May 22 at 4:06 pm

    Property Features for 94 Park Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    Residential
    Bedrooms
    5
    Bathrooms
    2
    Rooms
    Basement, Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
    EntryLevel
    Unit 1: 1,Unit 2: 2
    Basement Y/N
    1
    Appliances
    Range, Refrigerator
    Standard status
    Active Under Contract
    Size
    1,848 SF
    Lot size
    0.16 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    8467.08

    Utilities

    Heating system
    Electric (Heating), Heat Pump (Heating), Natural Gas
    Cooling system
    Zoned

    Building Details

    Year built
    1899
    Floors in Building
    2
    Number of units
    2
    Flooring type
    Carpet, Hardwood, Tile, Vinyl
    Roof type
    Metal, Shingle, Slate
    Architectural style
    Other

    We can help!

    Listing Contact
    Robbi Handy Holmes

    Listing agent Robbi Handy Holmes

    Listing office BHHS Vermont Realty Group/S Burlington 1161 Williston Rd., South Burlington, VT

    Listing date Jun 16, 2025

    MLS# 5046675 Listing URL

    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.

    HighLights

    • Strong net profits of over $42K/yr.
    • Prime location: Blocks from Church Street Marketplace, Waterfront Park, and UVM Medical Center.
    • Spacious barn/garage with potential for studio space or ADU conversion.
    • Off‑street parking for six vehicles.
    • Two updated units: First‑floor with 3 bedrooms, hardwood floors, stainless steel appliances; Second‑floor with 2 bedrooms, custom kitchen, and mini‑split heat pump.
    • Both units include steam washer/dryers.

    Overview

    This well-maintained and thoughtfully updated duplex is located in the heart of Burlington. The property features a welcoming front porch and a private back deck. The first-floor unit includes 3 bedrooms, restored hardwood floors in the living room and front bedroom, stainless steel appliances, original built-in cabinetry, and a cast iron tub with tile surround. This unit also provides basement access with a steam washer/dryer and generous storage space. The second-floor apartment features 2 bedrooms, custom kitchen cabinetry, a gas range with vent hood, tile shower, steam washer/dryer and a mini-split heat pump. A spacious barn/garage offers additional storage and potential for studio space or future ADU conversion. Off-street parking is available for six vehicles. The property is located blocks from Church Street Marketplace, Waterfront Park, and the UVM Medical Center. The property is zoned for residential use and offers 1848 square feet of living space on a 0.16-acre lot. The property is intended for use as a multi-family or residential income property. The property generates strong net profits and offers potential for vibrant city living.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Restaurant Law Firm Dental Office Hair Salon Spa & Massage Center Nail Salon Food Market Daycare Center Grocery & Convenience Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Burlington
    County
    Chittenden
    State
    Vermont
    Longitude
    -73.2187717
    Latitude
    44.4831587

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    FAQs

    What type of property is this?
    Duplex - Updated duplex near Church Street Marketplace with strong income.
    Where is this duplex located?
    The property is located at 94 Park Street Burlington, VT.
    What is the asking price?
    The asking price for this property is $725,000.
    What are key features of this property?
    This property features: Strong net profits of over $42K/yr.; Prime location: Blocks from Church Street Marketplace, Waterfront Park, and UVM Medical Center.; Spacious barn/garage with potential for studio space or ADU conversion.
    (802) 658-5555
    We can help!
    Listing Contact
    Robbi Handy Holmes
    Request Owner's contact information
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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