162 State Street
Rutland, VT 05701
$348,000
Price
7
Beds
4
Baths
3,139 Sq. Ft.
$111 / Sq. Ft.
3,139
Sq. Ft.
$111
per Sq. Ft.
Description
RUTLAND CITY, VT - This well-maintained four-unit property offers excellent rental history and strong cash flow, making it a smart choice for investors. Positioned on a corner lot, it's conveniently close to public transportation, enhancing tenant appeal. The building features spacious 9-foot ceilings on the first floor and includes energy-efficient minisplit heat pumps in 2 (soon to be 3) of the 4 units. Unit 2 was recently vacated and is receiving a facelift prior to new tenant placement. There...RUTLAND CITY, VT - This well-maintained four-unit property offers excellent rental history and strong cash flow, making it a smart choice for investors. Positioned on a corner lot, it's conveniently close to public transportation, enhancing tenant appeal. The building features spacious 9-foot ceilings on the first floor and includes energy-efficient minisplit heat pumps in 2 (soon to be 3) of the 4 units. Unit 2 was recently vacated and is receiving a facelift prior to new tenant placement. There is potential for more income provided by a large 2.5-story garage on the property, that was previously rented monthly for storage. As the city pushes for more housing, this huge garage would be a fantastic candidate for an additional unit conversion! The cap rate on this property is 12% at asking price! This investment opportunity combines practicality with profitability in a sought-after location. See it for yourself today!
- Listed by Betsy Adamovich • Real Broker LLC
Property Details for 162 State Street
Parking
Driveway, Garage
ZoningNB
LISTING UPDATED: 11/07/2024 06:10 PM
Property Details for 162 State Street
| Status | Active |
|---|---|
| MLS # | 4988073 |
| Days on Market | 249 |
| Taxes | - |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Multi Family |
| Year Built | 1890 |
| Lot Size | 0.17 AC / 7,405 SF |
| County | Rutland County |
Building Information for 162 State Street
Stories3Residences4Year Built1890Building Size-Lot Size0.17 AC / 7,405 SF
Property Information for 162 State Street
Summary
Location and General Information
- City: Rutland City
- County: VT-Rutland
- Latitude: 43.608552000001005
- Longitude: -72.988095000000001
- Road Frontage: TBD
- Seasonal: No
- State: VT
- Street Designation: Street
- Zip Code: 05701
Taxes and HOA Information
- SPAN Number: 540-170-12425
- Taxes TBD: Unknown
Parking
- Garage: Yes
- Garage Capacity: 2.00
- Driveway: Gravel
Property
Lot Information
- Lot - Sqft: 7405.0
- Lot Features: City Lot, Corner, Level, Sidewalks
- Lot Size Acres: 0.17
- Square Feet Apx Finished Above Grade: 3139.0
- Square Feet Apx Finished AG Source: Public Records
- Square Feet Apx Finished Below Grade: 0.0
- Square Feet Apx Total: 5260.0
- Square Feet Apx Total Finished: 3139.0
- Square Feet Apx Unfinished Above Grade: 875.0
- Square Feet Apx Unfinished AG Source: Public Records
- Square Feet Apx Unfinished Below Grade: 1246.0
- Square Feet Apx Unfinished BG Source: Public Records
Property and Assessments
- Property Class: Multi-Family
- Construction Status: Existing
- Flood Zone: Unknown
- Foundation: Stone
- PreConstruction: No
- Surveyed: Unknown
- Year Built: 1890
Utilities
- Electric: Circuit Breaker(s)
- Sewer: Public
- Water Source: Public
- Utilities: Cable - Available, Gas - LP/Bottle, Telephone Available
- Internet: High Speed Intrnt -Avail
Interior and Exterior Features
Exterior Features
- Construction Materials: Wood Frame
- Roads: Paved, Public
- Roof: Shingle
Interior Features
- Basement: Yes
- Basement Access Type: Walk-up
- Basement Description: Concrete Floor, Full, No Tenant Access, Unfinished
- Heat Fuel: Electric, Gas - LP/Bottle, Oil
- Heating: Electric, Forced Air, Gas Heater, Wall Units, Mini Split
- Cooling: Mini Split
- Total Stories: 3
Multi Family
Income & Expenses Information
- Gross Income: $49,200.00
- Net Income: $37,192.00
- Operating Expense Incl: Heat, Insurance, Trash, Water/Sewer
- Operating Expense: $12,008
Multi-Family Information
- Total Units: 4
- Total 1 BR Units: 2
- Total 2 BR Units: 1
- Total 3+ BR Units: 1
Unit Information
Unit 1
- Unit 1 Baths: 1
- Unit 1 Bedrooms: 3
- Unit 1 Level Number: 1
- Unit 1 Rental Amt Freq: Monthly
- Unit 1 Status: Leased
- Unit 1 Rental Amount: $1,650.00
- Unit 1 Tenant Pays: Electric, Heat, Hot Water, Internet Service, Trash, TV Service
- Unit 1 Info: Appliances Included, CO Detector, Porch, Range - Electric, Smoke Detector
Unit 2
- Unit 2 Baths: 1
- Unit 2 Status: Vacant
- Unit 2 Level Number: 2
- Unit 2 Rental Amt Freq: Monthly
- Unit 2 Bedrooms: 2
- Unit 2 Rental Amount: $1,250.00
- Unit 2 Info: Appliances Included, CO Detector, Deck, Range - Electric, Smoke Detector
- Unit 2 Tenant Pays: Electric, Heat, Hot Water, Internet Service, Trash, TV Service
Unit 3
- Unit 3 Baths: 1
- Unit 3 Level Number: 2
- Unit 3 Rental Amt Freq: Monthly
- Unit 3 Status: Leased
- Unit 3 Bedrooms: 1
- Unit 3 Rental Amount: $950.00
- Unit 3 Info: Appliances Included, CO Detector, Deck, Range - Electric, Smoke Detector
- Unit 3 Tenant Pays: Electric, Heat, Hot Water, Internet Service, Trash, TV Service
Unit 4
- Unit 4 Level Number: 3
- Unit 4 Rental Amt Freq: Monthly
- Unit 4 Baths: 1
- Unit 4 Bedrooms: 1
- Unit 4 Status: Leased
- Unit 4 Rental Amount: $850.00
- Unit 4 Info: Appliances Included, CO Detector, Deck, Range - Electric, Smoke Detector
- Unit 4 Tenant Pays: Electric, Heat, Hot Water, Internet Service, Trash, TV Service
Rental
Rent Information
- Total Leases: 5
Property History for 162 State Street
| Date | Event & Source | Price | Appreciation |
|---|
| Date | Event & Source | Price |
|---|
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 162 State Street
Taxable ValueLand$66,100Additions$66,100Total$132,200
Home Facts
Beds0Lot Size7,405 SqFtStyleSingle Family ResidenceCountyRUTLANDAPN(170) 12425
Schools near 162 State Street
This home is within Rutland City School District.
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | 3 to 6 | |||
| Public - | 7 to 8 | |||
| Public - | 9 to 12 | |||
| Public - | PK to 2 |
Rating | School | Distance |
|---|---|---|
Rutland Intermediate School Public3 to 6 | ||
Rutland Middle School Public7 to 8 | ||
Rutland Senior High School Public9 to 12 | ||
Rutland Northwest School PublicPK to 2 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
Similar Homes
Sorry, we can't find any similar homes at this time. Please check back later.
Similar Sold Homes
Sorry, we can't find any similar sold homes at this time. Please check back later.
Homes for Sale near Rutland
Neighborhoods
Cities
No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.
Listing Courtesy of Real Broker LLC
Copyright 2024 PrimeMLS, Inc. All rights reserved. This information is deemed reliable, but not guaranteed. The data relating to real estate displayed on this Site comes in part from the IDX Program of PrimeMLS. 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 11/17/2024 02:43 PM
