174-176 N Champlain St · Burlington, VT 05401

$300,000

4 bd · 2.0 ba · 2,028 sqft · MultiFamily · 72 Days on market

Built 1899 4,356 sqft lot Est $570k · 47% under ↓ 24% since listing

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Why this score? — see what drove the B+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +5.0/10.0
• Livability +3.7/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Investor opportunity awaits in Burlington’s Old North End! This duplex features two 2-bedroom, 1-bath units with separate utilities. With some TLC, it has great potential for owner-occupancy or rental income. A shared driveway leads to a quaint backyard, perfect for entertaining or relaxing. Conveniently located minutes from UVM Medical Center, downtown Burlington, and close to public transportation. Don’t miss this chance to invest in your own piece of Burlington. Low rents due to long term tenants, property being sold as-is.

Key facts

• Rental income
• Shared driveway
• Quaint backyard

Tags

• SHARED DRIVEWAY
• QUAINT BACKYARD
• RENTAL INCOME
• CONVENIENTLY LOCATED
• PUBLIC TRANSPORTATION

Property features AI

Finance

• Other: Total finished area approximately 2,028; Total area approximately 3,045; Two units, each approximately 1,014 (each unit has 5 rooms); Directions: From Pearl St, right on North Champlain Street, property on right
• Financial info: Operating expenses include insurance, sewer, trash, and water; Month-to-month leases for units

Exterior

• Parking: Crushed stone driveway
• Utilities: Public sewer; Public water; Electric service with circuit breakers; Natural gas service (VT Gas); Cable internet available
• Home design: Multi-family building (two-unit property); Each unit is a flat; Existing construction; Tan exterior color
• Construction: Built in 1899; Wood frame construction with vinyl siding; Flat, metal, and other roof types; Unknown survey status
• Exterior features: City lot with sidewalks and street lights; Crushed stone driveway; Paved road frontage

Interior

• Kitchen: Water heater (natural gas)
• Bedrooms: Two 2-bedroom units
• Flooring: Carpet; Laminate
• Bathrooms: Two full bathrooms total (one in each unit)
• Heating & cooling: Natural gas heating; No central air (no cooling)
• Interior features: Unfinished basement with interior stairs and bulkhead access; Basement has dirt floor
• Laundry & utility: Natural gas heating; Gas heater with monitor type

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $300k.

Deal economics

• At list price, monthly cash flow is $2k ($27k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $300k).
• Recommended offer: $282k (6.0% below list) — sets the bar for market timing.
• Cap rate 15.4% vs local median 3.1% in Burlington — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 74/100 on livability (#19 in VT, #4,619 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, health & safety A+, schools B; Watch: cost of living D, crime F, amenities F.
• Market conditions: Rents flat; 138 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 898 units permitted in Chittenden County in 2024 (554 in 5+ unit buildings).
• At $5,503/mo this rent would consume 101% of the median local household income ($66k/yr) (locally 2757% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Chittenden County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 0.5% rent growth), your $84k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 72 days — a 6% lower offer ($282k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1899 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $282,000 (6.0% below list)

Questions for the listing agent

1. It's been on market 72 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1899 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
8. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
9. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
10. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.83% ✓
• Cap rate: 15.39%
• Cash-on-cash: 32.49%
• DSCR: 2.45
• GRM: 4.5

CMA / ARV

• ARV (on-the-fly): $569,868
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
174-176 N Champlain St	0.00mi	4/2.0	2,028 (0%)	0mo	$306,915	$151	100
244 North St	0.26mi	4/1.0	2,060 (+2%)	12mo	$490,000	$238	71
215 Elmwood Ave	0.17mi	5/2.0 (+1)	2,186 (+8%)	5mo	$615,000	$281	70
89 Pitkin St	0.19mi	5/2.0 (+1)	2,100 (+4%)	13mo	$695,000	$331	69
11 Grant St	0.32mi	5/2.0 (+1)	1,980 (-2%)	13mo	$610,000	$308	66
38 Sherman St	0.25mi	5/5.0 (+1)	2,102 (+4%)	5mo	$710,000	$338	61
75 Archibald St	0.36mi	5/1.0 (+1)	1,884 (-7%)	9mo	$461,000	$245	54
174-176 Intervale Ave	0.45mi	5/2.0 (+1)	1,904 (-6%)	11mo	$520,000	$273	54
240 N Willard St	0.59mi	4/2.0	1,856 (-8%)	6mo	$425,000	$229	53
65-67 N Willard St	0.59mi	5/2.0 (+1)	1,964 (-3%)	11mo	$730,000	$372	53
246 N Winooski Ave	0.42mi	4/3.0	1,900 (-6%)	18mo	$410,000	$216	51
442 North St	0.68mi	5/4.0 (+1)	2,047 (+1%)	17mo	$735,000	$359	40

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 0.52% rent growth · sell at horizon

5-year hold

• IRR: 24.7%
• Equity multiple: 1.99×
• Total profit: $82,911
• Equity at exit: $44,731

10-year hold

• IRR: 30.9%
• Equity multiple: 3.46×
• Total profit: $206,719
• Equity at exit: $25,939

Cash invested: $84,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 41 Moderately Tenant-Leaning
• State Vermont: 41 Moderately Tenant-Leaning · D+15
• County: — inherits STATE
• City: — inherits STATE

Just-cause in Burlington (2022); strong habitability.

Methodology + full state rankings →

ZIP-level market 05401

• Rents YoY: 0.5%
• Active inventory: 138
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $5,503 high
• Mortgage (P&I): −$1,573
• Tax est. 1.5%: −$375 /mo · $4,500/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,156
• Net cashflow: $2,274

Break-even live

Break-even rent $2,624

Max offer price $300,000

Occupancy floor 54%

Sensitivity live

Price	-10% $2,481	-5% $2,378	+0% $2,274	+5% $2,170	+10% $2,067
Rent	-10% $1,839	-5% $2,057	+0% $2,274	+5% $2,492	+10% $2,709
Rate	-1.0pp $2,425	-0.5pp $2,350	base $2,274	+0.5pp $2,196	+1.0pp $2,117

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$5,504
Total (2 units)			$5,503

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $75,000
• Closing costs: $9,000
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
37 Hyde St Unit 7 Burlington, VT	4.0	2.0	1600	$4,000	$2.50	44d	1	0.44mi
66 Hungerford Ter Burlington, VT	4.0	1.0	1500	$3,450	$2.30	22d	1	0.67mi

Listing history 7 events

1. 2026-05-29
   status Pending
2. 2026-05-21
   historical
3. 2026-03-26
   historical Active with Contract
4. 2026-03-10
   listed $300,000 Active
5. 2025-10-30
   price $349,900
6. 2025-09-08
   price $375,000
7. 2025-07-02
   price $395,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥93°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $66,036
• − Mortgage interest: −$16,805
• − Property taxes: −$4,500
• − Insurance: −$1,500
• − Repairs & maintenance: −$5,283
• − Management: −$5,283
• − Depreciation: −$8,727
• Taxable income: $23,938
• Est. tax owed @ 24.0%: −$5,745
• After-tax cash flow: $21,544/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

No district data.

Livability — Burlington

• Score: 74/100
• State rank: #19
• US rank: #4619

Category grades

Amenities F Commute A+ Cost of living D Crime F Employment B Housing B Health & safety A+ User ratings B-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Burlington, VT
• County: Chittenden County · 110,603 people
• City population: 31,662
• Metro: Burlington-South Burlington, VT
• Population (ZIP): 31,662
• Household income: $65,657
• Rent vs Own: 68.6% rent · 31.4% own
• Severe rent burden: 2757.0

Population outlook (Chittenden County) Hauer SSP2

• Today (2025): 170,769 people
• By 2030: 174,716 · +2.3%
• By 2040: 180,337 · +5.6%
• By 2050: 183,768 · +7.6%
• By 2075: 194,646 · +14.0%
• By 2100: 194,933 · +14.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Two or more races 6% Asian 4% Black 4% Hispanic / Latino 4%
• Common ancestry: Romanian 5% Lithuanian 5% Slovak 4%
• Foreign-born: 7% · China, Canada, Vietnam
• Languages at home: 90% English-only · Other Indo-European 2% French/Haitian/Cajun 2% Spanish 2%

Political lean MEDSL · Chittenden

• 2024 margin: Solid D (+53.6) · D 75.4% · R 21.7% · Other 2.9%
• 2008→2024 swing: +8.9pp toward D · 2008: 44.8pp · 2024: 53.6pp
• All cycles: 2024: D+53.6 2020: D+54.5 2016: D+46.8 2012: D+41.9 2008: D+44.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -316.87%
• Current HPI: 352.2081
• Rent YoY: ▲ 0.52%
• Metro: Burlington-South Burlington, VT
• State GDP YoY: —
• F500 in state: 0

Price history

-24.1% since first listed

7 events — show timeline

• 2026-05-29 Pending — PrimeMLS
• 2026-05-21 Delisted — PrimeMLS
• 2026-03-26 Contingent — PrimeMLS
• 2026-03-10 Listed $300,000 PrimeMLS
• 2025-10-30 Price Changed $349,900 PrimeMLS
• 2025-09-08 Price Changed $375,000 PrimeMLS
• 2025-07-02 Price Changed $395,000 PrimeMLS