214-216 Pine St · Burlington, VT 05401

$639,000

6 bd · 3.0 ba · 1,772 sqft · MultiFamily · 7 Days on market

Built 1899 1,742 sqft lot Est $571k · 12% over

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Why this score? — see what drove the D+ 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 +20.2/30.0
• DSCR +6.4/10.0
• 1% rule +5.3/10.0
• Schools +5.0/10.0
• Livability +3.7/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• ARV discount +2.1/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 3 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Exceptional investment opportunity in one of Burlington’s most desirable locations! This well-maintained triplex is just a few blocks from downtown, Church Street Marketplace, the Lake Champlain waterfront, and the vibrant South End Arts District. The property offers three 2-bedroom, 1-bathroom apartments for a total of 6 bedrooms and 3 bathrooms. The rear townhouse-style apartment (Unit C) was extensively remodeled in Spring 2026 with a brand-new kitchen, new flooring, and fresh paint, plus it is currently vacant - making it an ideal option for an owner-occupant or an investor seeking market-rate rent. Unit B has also been updated in recent years, while Units A and B are fully rented

Key facts

• Off street parking
• Remodeled kitchen
• Ample bike storage

Tags

• WELL MAINTAINED TRIPLEX
• REMODELED KITCHEN
• OFF STREET PARKING
• AMPLE BIKE STORAGE
• BURLINGTON LOCATION

Property features AI

Finance

• Other: Unit lease terms: Annual
• Financial info: Net income reported: $51,072; Operating expenses may include insurance, maintenance, trash, water/sewer and other items
• HOA & community: No HOA information provided

Exterior

• Parking: Dirt driveway (no additional parking details provided)
• Security: No security features provided
• Utilities: Public sewer; Public water; Electric with circuit breakers; Vermont Gas Systems for fuel; Cable available; High-speed internet available
• Home design: Multi-family building; Units include flats and a townhouse-style unit; Existing construction; White exterior
• Construction: Built in 1899; Wood frame with vinyl siding; Asphalt shingle roof; Crawl space foundation
• Exterior features: City lot in town with sidewalks; Near shopping, public transportation, hospital, and schools; Dirt driveway

Interior

• Kitchen: No specific kitchen appliance details provided
• Bedrooms: Three 2-bedroom units (Units 1–3)
• Flooring: Carpet; Laminate; Vinyl plank
• Bathrooms: Three full bathrooms (one per unit)
• Heating & cooling: Direct vent heating; No central cooling
• Interior features: Basement with exterior walk-up access; crawl space and unfinished areas
• Laundry & utility: No specific washer/dryer details provided

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.0-bath units multifamily listed at $639k.

Deal economics

• At list price, monthly cash flow is $803 ($10k/yr) — positive. Per door: $268/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $639k).
• Cap rate 7.8% 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; 137 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 898 units permitted in Chittenden County in 2024 (554 in 5+ unit buildings).
• At $6,606/mo this rent would consume 121% 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 $4k of loan paydown is wiped out by about $19k 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.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 3y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

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

Recommended offer $639,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1899 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 1.03% ✓
• Cap rate: 7.80%
• Cash-on-cash: 5.38%
• DSCR: 1.24
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $570,584
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
54 Hayward St	0.41mi	5/2.0 (-1)	1,680 (-5%)	6mo	$575,000	$342	58
37 Greene St	0.69mi	5/2.0 (-1)	1,833 (+3%)	20mo	$590,000	$322	37
239 Pearl St	0.58mi	7/3.0 (+1)	2,005 (+13%)	17mo	$490,000	$244	32
11 Grant St	0.62mi	5/2.0 (-1)	1,980 (+12%)	13mo	$610,000	$308	32

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: -10.8%
• Equity multiple: 0.62×
• Total profit: $-68,404
• Equity at exit: $95,277

10-year hold

• IRR: -5.4%
• Equity multiple: 0.69×
• Total profit: $-56,133
• Equity at exit: $55,249

Cash invested: $178,920 (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: 137
• Price-to-rent: 24.2×

Monthly cashflow live

• Estimated rent: $6,606 high
• Mortgage (P&I): −$3,351
• Tax est. 1.5%: −$799 /mo · $9,585/yr
• Insurance: −$266
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,387
• Net cashflow: $803

Break-even live

Break-even rent $5,590

Max offer price $639,000

Occupancy floor 83%

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$6,606
Total (3 units)			$6,606

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: $159,750
• Closing costs: $19,170
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
108 Buell St Burlington, VT	6.0	2.0	2500	$4,800	$1.92	43d	1	0.59mi

Listing history 7 events

1. 2026-06-19
   days on market $639,000 Active 7 DOM
2. 2026-06-18
   days on market $639,000 Active 6 DOM
3. 2026-06-17
   days on market $639,000 Active 5 DOM
4. 2026-06-16
   days on market $639,000 Active 4 DOM
5. 2026-06-15
   days on market $639,000 Active 3 DOM
6. 2026-06-13
   remarks 693-char remark
7. 2026-06-13
   listed $639,000 Active 1 DOM

ⓘ 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 · 16 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: $79,272
• − Mortgage interest: −$35,794
• − Property taxes: −$9,585
• − Insurance: −$3,195
• − Repairs & maintenance: −$6,342
• − Management: −$6,342
• − Depreciation: −$18,589
• Taxable loss: −$575
• Est. tax savings @ 24.0%: +$138
• After-tax cash flow: $9,771/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

+38049.3% since first listed

7 events — show timeline

• 2026-06-12 Listed $639,000 PrimeMLS
• 2024-03-14 Rental Removed $1,675 APPFOLIO
• 2024-01-05 Price Changed $1,675 APPFOLIO
• 2023-12-15 Listed for Rent — APPFOLIO
• 2023-12-09 Rental Removed — APPFOLIO
• 2023-09-08 Listed for Rent — APPFOLIO
• 2023-09-02 Rental Removed — APPFOLIO