30-32 N Champlain St · Burlington, VT 05401

$660,000

6 bd · 4.0 ba · 2,337 sqft · MultiFamily · 37 Days on market

Built 1899 Fair condition 6,534 sqft lot $282/sqft · 7% below area Est $707k · 7% under

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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 +13.0/30.0
• ARV discount +10.5/15.0
• Schools +5.0/10.0
• DSCR +3.9/10.0
• 1% rule +3.7/10.0
• Livability +3.7/5.0
• Rent growth +2.6/5.0
• Condition / age +2.2/5.0
• 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

At the corner of Monroe St and North Champlain, 30-32 North Champlain St is ideally located just one block from Battery Park and moments from the waterfront, bike path, and downtown Burlington. The spacious fenced yard creates a rare sense of privacy and green space for both units right in the middle of the city with development opportunity. Unit 1 features a flexible 4-bedroom layout with 2 bedrooms and 1 bathroom on each level, 1/2 bath upstairs, plus in-unit washer/dryer. Unit 2 offers a well-designed 2-bedroom layout with 1 bedroom and 1 bathroom on each level, also with in-unit washer/dryer. A strong opportunity for owner-occupants or investors seeking a well-located Burlington propert

Key facts

• Fenced yard
• Downtown burlington
• Waterfront

Tags

• FENCED YARD
• DEVELOPMENT OPPORTUNITY
• WATERFRONT
• BIKE PATH
• DOWNTOWN BURLINGTON

Property features AI

Finance

• Other: Operating expenses include insurance, maintenance, snow removal, trash, and other items
• Financial info: Net income reported: $46,737

Exterior

• Parking: Paved driveway
• Utilities: Public sewer; Public water; Electric service with circuit breaker(s); VT Gas fuel service; High-speed internet available; Cable available; Electric service by Burlington Electric
• Home design: Multi-family building; Existing structure
• Construction: Wood frame construction; Built in 1899; Membrane and slate roofing
• Exterior features: City lot; Paved public driveway/road frontage; Corner location at North Champlain Street and Monroe Street

Interior

• Bedrooms: One unit with 2 bedrooms; One unit with 4 bedrooms
• Bathrooms: Three full bathrooms total (unit breakdown: two 2-bath units)
• Heating & cooling: Natural gas heating with hot air; No central cooling
• Interior features: Unfinished basement with interior access; Multi-family layout (2 units)

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $660k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $-40 ($-479/yr) — negative. Per door: $-20/mo.
• To cash-flow at today's rent, offer at most $654k (0.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $572k (13.3% below list).
• Recommended offer: $572k (13.3% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 3.2% 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+, employment B; Watch: cost of living D, crime F, amenities F.
• Zoned schools: Sustainability Academy At Lawrence Barnes (math 22% / reading 42%, grade F, #129 of 192 statewide, top 70%, 191 students, 65% FRL); Edmunds Middle School (math 42% / reading 57%, grade C, #8 of 26 statewide, top 32%, 365 students, 50% FRL); Burlington High School (math 42% / reading 57%, grade D, #8 of 48 statewide, top 15%, 987 students, 48% FRL).
• Market conditions: Rents flat; 138 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 $5,723/mo this rent would consume 105% 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 $5k of loan paydown is wiped out by about $20k 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

• It's been on market 37 days — a 3% lower offer ($640k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $572,300 (13.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
6. Built in 1899 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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?
11. 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.
12. 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.
13. 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: 0.87% ✗
• Cap rate: 6.22%
• Cash-on-cash: -0.26%
• DSCR: 0.99
• GRM: 9.6

CMA / ARV

• ARV (median comp): $706,612
• List price: $660,000
• Delta: -6.60%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
135 N Champlain St	0.22mi	5/4.0 (-1)	2,360 (+1%)	15mo	$700,000	$297	71
114 S Champlain St	0.32mi	7/3.0 (+1)	2,412 (+3%)	2mo	$885,000	$367	69
38 Sherman St	0.14mi	5/5.0 (-1)	2,102 (-10%)	5mo	$710,000	$338	63
215 Elmwood Ave	0.40mi	5/2.0 (-1)	2,186 (-6%)	5mo	$615,000	$281	54
55-57 N Willard St	0.56mi	7/4.0 (+1)	2,535 (+8%)	2mo	$1,010,000	$398	54
227 North Ave	0.59mi	5/2.0 (-1)	2,473 (+6%)	3mo	$425,000	$172	47
44 Isham St	0.53mi	5/3.0 (-1)	2,605 (+12%)	2mo	$590,000	$226	46
9 Hyde St	0.51mi	6/2.0	2,171 (-7%)	13mo	$472,000	$217	46
52 Isham St	0.53mi	7/3.0 (+1)	2,619 (+12%)	1mo	$750,000	$286	45
16 Germain St	0.75mi	5/2.0 (-1)	2,475 (+6%)	4mo	$670,000	$271	39
89 Pitkin St	0.44mi	5/2.0 (-1)	2,100 (-10%)	13mo	$695,000	$331	38
50 Bright St	0.71mi	6/2.0	2,105 (-10%)	12mo	$701,097	$333	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: -19.5%
• Equity multiple: 0.33×
• Total profit: $-123,342
• Equity at exit: $98,408

10-year hold

• IRR: -18.6%
• Equity multiple: 0.11×
• Total profit: $-164,742
• Equity at exit: $57,065

Cash invested: $184,800 (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: 19.2×

Monthly cashflow live

• Estimated rent: $5,723 high
• Mortgage (P&I): −$3,461
• Tax est. 1.5%: −$825 /mo · $9,900/yr
• Insurance: −$275
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,202
• Net cashflow: $-40

Break-even live

Break-even rent $5,774

Max offer price $654,220

Occupancy floor 96%

Sensitivity live

Price	-10% $416	-5% $188	+0% $-40	+5% $-268	+10% $-496
Rent	-10% $-492	-5% $-266	+0% $-40	+5% $186	+10% $412
Rate	-1.0pp $292	-0.5pp $128	base $-40	+0.5pp $-211	+1.0pp $-385

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$5,722
Total (2 units)			$5,723

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: $165,000
• Closing costs: $19,800
• 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	45d	1	0.51mi

Listing history 19 events

1. 2026-06-21
   days on market $660,000 Active 37 DOM
2. 2026-06-19
   days on market $660,000 Active 35 DOM
3. 2026-06-18
   days on market $660,000 Active 34 DOM
4. 2026-06-17
   days on market $660,000 Active 33 DOM
5. 2026-06-16
   days on market $660,000 Active 32 DOM
6. 2026-06-15
   days on market $660,000 Active 31 DOM
7. 2026-06-14
   days on market $660,000 Active 29 DOM
8. 2026-06-13
   days on market $660,000 Active 28 DOM
9. 2026-06-10
   days on market $660,000 Active 26 DOM
10. 2026-06-09
    days on market $660,000 Active 25 DOM
11. 2026-06-08
    days on market $660,000 Active 24 DOM
12. 2026-06-07
    days on market $660,000 Active 23 DOM
13. 2026-06-05
    days on market $660,000 Active 20 DOM
14. 2026-06-03
    days on market $660,000 Active 19 DOM
15. 2026-06-02
    days on market $660,000 Active 18 DOM
16. 2026-06-01
    days on market $660,000 Active 17 DOM
17. 2026-05-31
    days on market $660,000 Active 16 DOM
18. 2026-05-30
    days on market $660,000 Active 15 DOM
19. 2026-05-15
    listed $660,000 Active 701-char remark

ⓘ 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: $68,676
• − Mortgage interest: −$36,970
• − Property taxes: −$9,900
• − Insurance: −$3,300
• − Repairs & maintenance: −$5,494
• − Management: −$5,494
• − Depreciation: −$19,200
• Taxable loss: −$11,682
• Est. tax savings @ 24.0%: +$2,804
• After-tax cash flow: $2,324/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.

Condition & rehab AI · 3 photos

Fair 45/100 Moderate rehab

The property presents a moderate level of need for repairs and maintenance, with potential for significant value increases through targeted updates to the kitchen, landscaping, and curb appeal.

Repairs flagged

• Minor Sidewalk — Cracks and uneven surface.
• Minor Landscaping — Overgrown vegetation in the yard.
• Minor Kitchen Countertops — Laminate countertops may need replacement or refinishing.
• Minor Bathroom Fixtures — Standard fixtures may need updating or replacement.
• Minor Paint — Paint appears slightly worn and may need touch-up or repainting.

Value-add opportunities

• Both Landscaping and curb appeal improvements — Enhances the home's curb appeal and can attract more buyers or renters.
• Both Kitchen countertops and appliances — Modernizing the kitchen can increase both resale and rental value.
• Both Painting and minor repairs — Updating the paint and making minor repairs can improve the home's overall appearance and value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Sidewalk · Cracks and uneven surface.	Minor	$500–3,000
Landscaping · Overgrown vegetation in the yard.	Minor	$500–3,000
Kitchen Countertops · Laminate countertops may need replacement or refinishing.	Minor	$500–3,000
Bathroom Fixtures · Standard fixtures may need updating or replacement.	Minor	$500–3,000
Paint · Paint appears slightly worn and may need touch-up or repainting.	Minor	$500–3,000
Total estimated repair cost · 5 items		$2,500–15,000

Value-add ROI direction

• Both Landscaping and curb appeal improvements — Enhances the home's curb appeal and can attract more buyers or renters. ↑
• Both Kitchen countertops and appliances — Modernizing the kitchen can increase both resale and rental value. ↑
• Both Painting and minor repairs — Updating the paint and making minor repairs can improve the home's overall appearance and value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

1 event — show timeline

• 2026-05-15 Listed $660,000 PrimeMLS