162 State Street Rutland City, VT

$348,000
Beds 7
Square Footage 3,139
Acres 0.17
Photo of 162 State Street Rutland City VT 05701




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 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 Real Broker LLC, Betsy Adamovich

Details

MLS 4988073
Price $348,000
Status Active
DOM 277 days
Type Multi-Family
Style Multi-Family, Victorian
Beds 7
Square Feet 3,139 sqft
Lot Size 0.17 acres
Year Built 1890

Lot & Building Features

Utilities Cable - Available, Telephone Available, Gas - LP/Bottle
Construction Wood Frame
Cooling Mini Split
Heating Electric, Wall Units, Mini Split, Gas Heater, Forced Air
Parking Description Driveway, Garage
Sewer Public
Water Public
Basement Description Concrete Floor, Unfinished, No Tenant Access, Full
Foundation Stone
Lot Description City Lot, Sidewalks, Level, Corner
Roof Shingle
Garage Yes

Unit Features

Unit 1 Baths 1
Unit 1 Bedrooms 3
Unit 1 Info Appliances Included, Smoke Detector, Range - Electric, Porch, CO Detector
Unit 1 Level Number 1
Unit 1 Rental Amount 1650.00
Unit 1 Rental Amt Freq Monthly
Unit 1 Status Leased
Unit 1 Tenant Pays Electric, TV Service, Trash, Internet Service, Hot Water, Heat
Unit 2 Baths 1
Unit 2 Bedrooms 2
Unit 2 Info Appliances Included, Smoke Detector, Range - Electric, Deck, CO Detector
Unit 2 Level Number 2
Unit 2 Rental Amount 1250.00
Unit 2 Rental Amt Freq Monthly
Unit 2 Status Vacant
Unit 2 Tenant Pays Electric, TV Service, Trash, Internet Service, Hot Water, Heat
Unit 3 Baths 1
Unit 3 Bedrooms 1
Unit 3 Info Appliances Included, Smoke Detector, Range - Electric, Deck, CO Detector
Unit 3 Level Number 2
Unit 3 Rental Amount 950.00
Unit 3 Rental Amt Freq Monthly
Unit 3 Status Leased
Unit 3 Tenant Pays Electric, TV Service, Trash, Internet Service, Hot Water, Heat
Unit 4 Baths 1
Unit 4 Bedrooms 1
Unit 4 Info Appliances Included, Smoke Detector, Range - Electric, Deck, CO Detector
Unit 4 Level Number 3
Unit 4 Rental Amount 850.00
Unit 4 Rental Amt Freq Monthly
Unit 4 Status Leased
Unit 4 Tenant Pays Electric, TV Service, Trash, Internet Service, Hot Water, Heat

Map

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Financing

$
20%
1%
6.75%
$
$
$
per month
Principal & Interest
Monthly Taxes
Monthly HOA
Monthly Home Ins.
Monthly PMI

Based on a fully amortized fixed rate loan. Ask your agent for the tax rates in your area. Insurance estimate is based on an average cost, your final premium cost will be determined by the type of coverage you select. This calculator only provides an estimate.


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