43 Summer Street

Rutland, VT 05701

$479,000
Price
8
Beds
8
Baths
3,896 Sq. Ft.
$123 / Sq. Ft.
3,896
Sq. Ft.
$123
per Sq. Ft.

Description

Investment Opportunity: 8-Unit Multifamily in Rutland City Don’t miss this rare opportunity to own an 8-unit multifamily property located at 43 Summer St in Rutland City. The property includes 6 one-bedroom units, 1 two-bedroom unit, and a studio apartment. Current rents are well below market rate, presenting an ideal chance for an investor to boost cash flow and improve the overall cap rate by raising rents to reflect the true market potential. Situated in a convenient downtown location, this property...Investment Opportunity: 8-Unit Multifamily in Rutland City Don’t miss this rare opportunity to own an 8-unit multifamily property located at 43 Summer St in Rutland City. The property includes 6 one-bedroom units, 1 two-bedroom unit, and a studio apartment. Current rents are well below market rate, presenting an ideal chance for an investor to boost cash flow and improve the overall cap rate by raising rents to reflect the true market potential. Situated in a convenient downtown location, this property provides easy access to local amenities, shops, and restaurants, making it highly attractive to tenants. With the rising demand for rental housing in Rutland, this property is well-positioned for long-term growth and value. Whether you're a seasoned investor or just starting to build your portfolio, this property offers significant upside potential.
  1. Listed by Betsy Adamovich • Real Broker LLC

Property Details for 43 Summer Street

Zoning
MR1
LISTING UPDATED: 10/08/2024 03:50 PM

Property Details for 43 Summer Street

StatusActive
MLS #5017747
Days on Market14
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti Family
Year Built1860
Lot Size0.11 AC / 4,791 SF
CountyRutland County

Building Information for 43 Summer Street

Stories2Residences8Year Built1860Building Size-Lot Size0.11 AC / 4,791 SF

Property Information for 43 Summer Street

Summary
Location and General Information
  • City: Rutland City
  • County: VT-Rutland
  • Latitude: 43.610473000001001
  • Longitude: -72.982568999999998
  • Road Frontage: TBD
  • Seasonal: No
  • State: VT
  • Street Designation: Street
  • Zip Code: 05701
Taxes and HOA Information
  • SPAN Number: 540-170-12669
  • Taxes TBD: Unknown
Parking
  • Garage: No
  • Driveway: Dirt
Property
Lot Information
  • Lot - Sqft: 4792.0
  • Lot Features: City Lot, Sidewalks, Street Lights
  • Lot Size Acres: 0.11
  • Square Feet Apx Finished Above Grade: 3896.0
  • Square Feet Apx Finished AG Source: Public Records
  • Square Feet Apx Finished Below Grade: 0.0
  • Square Feet Apx Total: 6529.0
  • Square Feet Apx Total Finished: 3896.0
  • Square Feet Apx Unfinished Above Grade: 535.0
  • Square Feet Apx Unfinished AG Source: Public Records
  • Square Feet Apx Unfinished Below Grade: 2098.0
  • Square Feet Apx Unfinished BG Source: Public Records
Property and Assessments
  • Property Class: Multi-Family
  • Construction Status: Existing
  • Flood Zone: No
  • Foundation: Stone
  • PreConstruction: No
  • Surveyed: Unknown
  • Year Built: 1860
Utilities
  • Electric: Circuit Breaker(s)
  • Sewer: Public
  • Water Source: Public
  • Utilities: Cable - Available, Telephone Available
  • Internet: High Speed Intrnt -Avail
Interior and Exterior Features
Exterior Features
  • Construction Materials: Wood Frame, Vinyl Siding
  • Roads: Paved, Public
  • Roof: Shingle
Interior Features
  • Basement: Yes
  • Basement Access Type: Interior
  • Basement Description: Partial, Unfinished
  • Heat Fuel: Oil
  • Heating: Forced Air
  • Cooling: None
  • Total Stories: 2
Multi Family
Income & Expenses Information
  • Gross Income: $68,680.00
  • Net Income: $31,934.00
  • Operating Expense Incl: Heat, Insurance, Snow Removal, Trash, Water/Sewer
  • Operating Expense: $36,746
Multi-Family Information
  • Total Units: 8
  • Total 1 BR Units: 6
  • Total 2 BR Units: 1
  • Total 3+ BR Units: 0
Unit Information
Unit 1
  • Unit 1 Baths: 1
  • Unit 1 Bedrooms: 1
  • Unit 1 Rental Amt Freq: Monthly
  • Unit 1 Status: Leased
  • Unit 1 Rental Amount: $650.00
Unit 2
  • Unit 2 Baths: 1
  • Unit 2 Status: Leased
  • Unit 2 Rental Amt Freq: Monthly
  • Unit 2 Bedrooms: 1
  • Unit 2 Rental Amount: $725.00
Unit 3
  • Unit 3 Baths: 1
  • Unit 3 Rental Amt Freq: Monthly
  • Unit 3 Status: Leased
  • Unit 3 Bedrooms: 1
  • Unit 3 Rental Amount: $900.00
Unit 4
  • Unit 4 Rental Amt Freq: Monthly
  • Unit 4 Baths: 1
  • Unit 4 Bedrooms: 1
  • Unit 4 Status: Leased
  • Unit 4 Rental Amount: $650.00
Unit 5
  • Unit 5 Rental Amt Freq: Monthly
  • Unit 5 Status: Leased
  • Unit 5 Baths: 1
  • Unit 5 Bedrooms: 1
  • Unit 5 Rental Amount: $750.00
Unit 6
  • Unit 6 Baths: 1
  • Unit 6 Bedrooms: 1
  • Unit 6 Rental Amt Freq: Monthly
  • Unit 6 Status: Leased
  • Unit 6 Rental Amount: $850.00
Unit 7
  • Unit 7 Bedrooms: 2
  • Unit 7 Baths: 1
  • Unit 7 Rental Amt Freq: Monthly
  • Unit 7 Status: Leased
  • Unit 7 Rental Amount: $1,200.00
Unit 8
  • Unit 8 Baths: 1
  • Unit 8 Rental Amount: $900.00
  • Unit 8 Rental Amt Freq: Monthly
  • Unit 8 Status: Leased
  • Unit 8 Style: studio
  • Unit 8 Bedrooms: 0

Property History for 43 Summer Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 43 Summer Street

Taxable ValueLand$60,700Additions$105,000Total$165,700
Home Facts
Lot Size4,792 SqFtStyleMulti-Family Res (5+ Units)CountyRUTLANDAPN(170) 12669

Schools near 43 Summer 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

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43 Summer Street is a multi-family home for sale in Rutland, VT 05701. This property was listed for sale on October 8, 2024 by Real Broker LLC, it's currently listed at $479,000. It has been on the market for a total of 14 days and was last sold on September 12, 2008. This listing's school district is Rutland City School District. Nearby schools include Rutland Intermediate School, Rutland Middle School and Rutland Senior High School. 43 Summer Street is a 8-bed, 8-bath, 3,896 sqft multi-family home built in 1860.

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 10/22/2024 09:19 AM