235 Elm StreetMontpelier, VT 05602MLS Number 4755808

  • Price: $616,550
  • Est. Mortgage of $/month
  • 141 Days on Market
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$
%
$/month over payments
Federal 30-year interest rate: 3.69% last updated on Oct 17, 2019
* All Figures are estimates. Check with your bank or proposed mortgage company for actual interest rates.
This product uses the FRED® API but is not endorsed or certified by the Federal Reserve Bank of St. Louis.
  • 0.16Acreage
  • 1910Year Built
  • 4,624Square Feet
Heney Realtors, Montpelier Office
Heney Realtors, Montpelier Office
Office: 802-229-0345
81 Main Street
Montpelier, VT 05602
Listed by Hannah Dawson of Green Light Real Estate

Yes, you're reading that right, 8 units in Montpelier all under one (new 2018) roof! Right on the North Branch River (but not in the flood zone) and a stone's throw from town, this location means one thing, EASY to rent. But don't take my word for it, look at the facts. This 8-unit cash cow has a history of nearly 0% vacancy over the last fifteen years and annual rentals totaling over $85,000. If you've been looking for a good investment opportunity, here it is! It doesn't get much better than this. So you can keep track, there are two 2-bedroom units, three 1-bedroom units, two studios and an efficiency. Recent comparable sales: 156 Elm Street (4 Unit; Sold at 6.09% Cap Rate). 59 College Street (3 Unit; Sold at 5.6% Cap Rate). At $649,000 asking price this property is a 6.8% Cap Rate. Many units due for a rent increase, which would easily push the Cap Rate above 7%. Factor in appreciation and reduction in principal overtime and you'll enjoy a substantial and stable return. Can be purchased as part of a portfolio with 106 and 108 East State Street MLS#: 4755809/4755857. List Agent is related to sellers.

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More Info

Basic Information

  • StatusACT
  • Property TypeMulti-Family
  • List Price$616,550
  • Date Price Change08/20/2019
  • MLS Number4755808

Property

  • Acreage0.16
  • Parking Spaces
  • Square Feet4,624
  • APX Fin AG Sqft4,624
  • Road Frontage100
  • RoadsPaved, Public
  • Lot Description
    • City Lot
    • Curbing
    • Level
    • River
    • River Frontage
    • Sidewalks
    • Street Lights

Utilities

  • Heat FuelOil
  • Heat SystemRadiator, Steam
  • WaterPublic Water - At Street, Public Water - On-Site
  • Water HeaterOil, Owned
  • ElectricCircuit Breaker(s)
  • SewerPublic Sewer On-Site
  • Heating Exp$5,714

Location

  • TownMontpelier
  • StateVT
  • Zip05602
  • CountyWashington
  • ZoningHistoric
  • Elementary SchoolUnion Elementary School
  • Junior HighMain Street Middle School
  • High SchoolMontpelier High School
  • Flood Zone Y/NNo

Interior

  • FloorsCarpet, Combination, Hardwood

Exterior

  • ExteriorAluminum
  • RoofShingle - Asphalt
  • Exterior ColorOff White

Amenities

  • Exterior AmenitiesBalcony, Porch - Covered

Other

  • Taxes$10,582
  • Seasonal Y/NNo
  • Operating Expenses
    • Electric
    • Garbage
    • Heating Fuel
    • Insurance
    • Maintenance/Repairs
    • Reserve
    • Water/Sewer
  • Occupant RestrictionsSmoking - No
  • Insurance Exp$4,233
  • Maintenance Exp$4,278
  • Misc Exp$4,278
  • Trash Exp$2,244
  • Utilities Exp$6,076
  • Water Exp$2,816
  • View Count175

Building

  • Year Built1910
  • Building ConstructionWood Frame
  • StyleMulti-Family, New Englander
  • Units8
  • Unit 1 Bath1
  • Unit 1 Bedrooms1
  • Unit 2 Bath1
  • Unit 2 Bedrooms1
  • Unit 3 Bath1
  • Unit 4 Bath1
  • Unit 5 Baths1
  • Unit 5 Bedrooms2
  • Unit 6 Baths1
  • Unit 7 Baths1
  • # of 1 Bedrooms3
  • Unit 7 Bedrooms2
  • # of 2 Bedrooms2
  • Unit 8 Baths1
  • BasementConcrete Floor, Full, Stairs - Exterior, Storage Space, Unfinished
  • FoundationConcrete, Stone

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Copyright 2019 New England Real Estate Network, Inc. All rights reserved. This information is deemed reliable, but not guaranteed. The data relating to real estate for sale on this web site comes in part from the IDX Program of NEREN. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated October 21, 2019.

 

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