10-12 Shelburne St · Burlington, VT 05401

$439,000

3 bd · 3.0 ba · 2,008 sqft · SingleFamily · 150 Days on market

Built 1899 Fair condition 2,613 sqft lot Garage $219/sqft · 41% below area Est $738k · 41% under ↓ 12% since listing

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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).

• ARV discount +15.0/15.0
• Cash flow +7.1/30.0
• Schools +5.0/10.0
• Livability +3.7/5.0
• Rent growth +2.6/5.0
• Condition / age +2.2/5.0
• 1% rule +1.9/10.0
• DSCR +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Rare Opportunity in Burlington’s South End!! 10-12 Shelburne Street Burlington, VT 05401 Discover the perfect blend of style, versatility, and location at this stunning South End gem. Boasting 2,008 sq/ft of finished living space above grade, this property offers a unique "best of both worlds" scenario: the comfort of a spacious single-family residence with the lucrative zoning of a duplex. Flexible Layout & Easy Conversion The home is beautifully maintained and designed for effortless flexibility. Converting it back to a duplex is remarkably simple: First Floor: A generous layout with 2 bedrooms and 1 bathroom. Second Floor: A private 1-bedroom, 1-bathroom suite. Private Entry: A dedicated rear entrance is already in place for seamless split-occupancy. Living & Bonus Spaces Enjoy the quintessential Burlington lifestyle with exceptional indoor and outdoor amenities: Classic Porches: An expansive front porch for neighborhood waving and a cozy 3-season rear sunroom. Private Backyard: An intimate, fenced oasis perfect for gardening or relaxing. Attached 1-Car Garage: Currently used as a large storage room but easily converted back for vehicle use. Full Basement: Offers ample utility space and is partially finished, perfect for a home office or gym. Prime Location You are steps away from the Pine Street corridor, home to local breweries, the South End Arts District, and City Market. Enjoy quick access to the Burlington Bike Path and Oakledge Park for sunsets over Lake Champlain. Property Highlights: Zoning: Legal duplex (currently 3-bed, 2-bath single-family). Size: 2,008 sq/ft above grade on a 0.06-acre parcel. Potential: Ideal for an owner-occupant seeking rental income or investors alike. Properties with this character and configuration are a rare find in the South End. Don’t miss your chance to own a piece of Burlington’s most vibrant neighborhood! Schedule your private showing today!

Key facts

• Private backyard
• Full basement
• Private entry

Tags

• PRIVATE ENTRY
• PRIVATE BACKYARD
• FULL BASEMENT
• PRIME LOCATION

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $439k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $-625 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $349k (20.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $305k (30.5% below list).
• Recommended offer: $305k (30.5% below list) — sets the bar for 1% rule.
• Cap rate 4.6% vs local median 3.4% 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: Edmunds Elementary School (math 42% / reading 57%, grade D, #50 of 192 statewide, top 32%, 228 students, 53% FRL); Lyman C. Hunt Middle School (math 34% / reading 47%, grade F, #13 of 26 statewide, top 52%, 337 students, 49% FRL); Burlington High School (math 42% / reading 57%, grade D, #8 of 48 statewide, top 15%, 987 students, 48% FRL).
• Market conditions: Rents flat; 216 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); 898 units permitted in Chittenden County in 2024 (554 in 5+ unit buildings).
• At $3,049/mo this rent would consume 56% of the median local household income ($66k/yr) — 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 $3k of loan paydown is wiped out by about $13k 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 150 days — a 12% lower offer ($386k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $304,926 (30.5% 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 150 days. Have you received any prior offers? Is the seller open to a 31% concession, seller financing, or rate buy-down credit?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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. 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?
10. 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.
11. 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.
12. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.69% ✗
• Cap rate: 4.58%
• Cash-on-cash: -6.10%
• DSCR: 0.73
• GRM: 12.0

CMA / ARV

• ARV (median comp): $738,301
• List price: $439,000
• Delta: -40.54%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
172 Deforest Rd	0.39mi	3/2.5	2,200 (+10%)	2mo	$1,050,000	$477	62
115 Caroline St	0.18mi	4/1.5 (+1)	2,195 (+9%)	7mo	$681,333	$310	60
124 Prospect Pkwy	0.60mi	3/2.5	2,048 (+2%)	10mo	$810,000	$396	59
84 Charlotte St	0.20mi	2/2.0 (-1)	1,792 (-11%)	7mo	$640,000	$357	58
162 Crescent Rd	0.35mi	4/1.5 (+1)	2,137 (+6%)	7mo	$687,000	$321	56
854 S Prospect St	0.68mi	3/2.0	2,131 (+6%)	4mo	$885,000	$415	50
194 Prospect Pkwy	0.58mi	3/2.0	2,208 (+10%)	4mo	$650,000	$294	49
777 S Prospect St	0.52mi	4/2.0 (+1)	2,201 (+10%)	3mo	$865,000	$393	48
45 Crescent Rd	0.54mi	4/2.5 (+1)	2,215 (+10%)	3mo	$805,000	$363	48
139 Robinson Pkwy	0.71mi	4/3.0 (+1)	1,886 (-6%)	5mo	$730,000	$387	47
436 Maple St	0.71mi	3/2.0	1,867 (-7%)	6mo	$725,000	$388	46
185 Maple St	0.63mi	3/2.5	2,292 (+14%)	5mo	$840,000	$366	41

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: -29.6%
• Equity multiple: 0.04×
• Total profit: $-118,317
• Equity at exit: $65,456

10-year hold

• IRR: -44.8%
• Equity multiple: -0.49×
• Total profit: $-183,084
• Equity at exit: $37,957

Cash invested: $122,920 (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 →

Balanced market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 8 active · 11 under contract
• Months of supply: 3.2 mo (31%/mo absorbed)
• Median asking: $659,950 ($354/sqft)
• Median days on market: 55 d
• This list price: 12% of active listings are priced below it
• ARV vs active asking: +3.9% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 05401

• Rents YoY: 0.5%
• Active inventory: 216
• Price-to-rent: 12.0×

Monthly cashflow live

• Estimated rent: $3,049 high
• Mortgage (P&I): −$2,302
• Tax est. 1.5%: −$549 /mo · $6,585/yr
• Insurance: −$183
• HOA: −$0
• Vacancy / Maint / Mgmt: −$640
• Net cashflow: $-625

Break-even live

Break-even rent $3,840

Max offer price $348,574

Occupancy floor —

Sensitivity live

Price	-10% $-322	-5% $-473	+0% $-625	+5% $-777	+10% $-928
Rent	-10% $-866	-5% $-745	+0% $-625	+5% $-504	+10% $-384
Rate	-1.0pp $-404	-0.5pp $-513	base $-625	+0.5pp $-739	+1.0pp $-854

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: $109,750
• Closing costs: $13,170
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
515-517 S Willard St Unit 515 B Burlington, VT	3.0	1.0	1500	$2,500	$1.67	0d	1	0.07mi
545 S Prospect St #19 Burlington, VT	2.0	2.5	1566	$4,100	$2.62	139d	1	0.25mi
6 Adams St Burlington, VT	3.0	1.0	1500	$2,400	$1.60	5d	1	0.58mi
340 Spear St Unit 2 South Burlington, VT	3.0	2.0	1440	$2,250	$1.56	4d	1	0.82mi
46 King St Unit A Burlington, VT	4.0	1.5	1887	$2,850	$1.51	5d	1	0.83mi
403 College St Burlington, VT	3.0	2.0	1500	$3,750	$2.50	5d	1	0.87mi
66 Hungerford Ter Burlington, VT	4.0	1.0–2.0	1750	$5,700	$3.26	5d	2	0.94mi
40 College St Burlington, VT	2.0–3.0	2.0	1422	$4,200	$2.95	4d	2	1.00mi
37 Hyde St Unit 7 Burlington, VT	4.0	2.0	1600	$4,000	$2.50	139d	1	1.45mi
73 Cedar St Burlington, VT	4.0	1.5	1600	$3,650	$2.28	5d	1	1.48mi
268 Market St South Burlington, VT	3.0	1.0–2.0	986	$2,029	$2.06	116d	1	1.49mi

Property features AI

Finance

• Other: Documents available: Deed, Property Disclosure, Tax Map, other documents

Exterior

• Parking: Detached garage with capacity for 1 vehicleDirt driveway
• Utilities: Public waterPublic sewer100 Amp electric service with circuit breakers (on-site)Natural gas on-site (Vermont Gas Systems)Cable available (Xfinity/Comcast)Fiber optic and high-speed internet availableTelephone available (Burlington Telecom)
• Home design: New Englander architectural styleWood frame construction with clapboard/wood sidingGrey and white exteriorAsphalt shingle roofExisting property (built in 1899)
• Construction: Wood frame constructionClapboard/wood sidingAsphalt shingle roofBuilt in 1899
• Exterior features: Curbing and sidewalksStreet lightsNear trails and walking trailsNear golf course and other pathsClose to shopping, public transportation, hospital, and schools

Interior

• Kitchen: Oven (wall)Range - ElectricExhaust hoodDishwasherRefrigeratorFreezer
• Flooring: CarpetLaminateTileVinylWoodCombination flooring
• Bathrooms: 1 full bathroom2 three-quarter bathrooms
• Heating & cooling: Natural gas heatingForced air / hot air
• Interior features: 8 total roomsFull basement with interior accessBasement is climate controlled, insulated, partially finished with concrete floor, interior stairs, exterior access, and storage space
• Laundry & utility: WasherDryerNatural gas water heater

Listing history 50 events

1. 2026-09-24
   days on market $439,000 Active 150 DOM
2. 2026-09-24
   days on market $439,000 Active 149 DOM
3. 2026-09-22
   days on market $439,000 Active 148 DOM
4. 2026-09-21
   days on market $439,000 Active 147 DOM
5. 2026-09-20
   days on market $439,000 Active 146 DOM
6. 2026-09-19
   days on market $439,000 Active 145 DOM
7. 2026-09-18
   days on market $439,000 Active 144 DOM
8. 2026-09-17
   days on market $439,000 Active 143 DOM
9. 2026-09-16
   days on market $439,000 Active 142 DOM
10. 2026-09-15
    days on market $439,000 Active 141 DOM
11. 2026-09-14
    days on market $439,000 Active 140 DOM
12. 2026-09-13
    days on market $439,000 Active 139 DOM
13. 2026-09-12
    days on market $439,000 Active 138 DOM
14. 2026-09-11
    days on market $439,000 Active 137 DOM
15. 2026-09-05
    days on market $439,000 Active 131 DOM
16. 2026-09-04
    days on market $439,000 Active 130 DOM
17. 2026-09-03
    days on market $439,000 Active 129 DOM
18. 2026-08-31
    days on market $439,000 Active 126 DOM
19. 2026-08-30
    days on market $439,000 Active 125 DOM
20. 2026-08-29
    days on market $439,000 Active 124 DOM
21. 2026-08-28
    days on market $439,000 Active 123 DOM
22. 2026-08-27
    days on market $439,000 Active 122 DOM
23. 2026-08-26
    days on market $439,000 Active 121 DOM
24. 2026-08-25
    days on market $439,000 Active 120 DOM
25. 2026-08-24
    days on market $439,000 Active 119 DOM
26. 2026-08-23
    days on market $439,000 Active 118 DOM
27. 2026-08-22
    days on market $439,000 Active 117 DOM
28. 2026-08-21
    days on market $439,000 Active 116 DOM
29. 2026-08-20
    days on market $439,000 Active 115 DOM
30. 2026-08-19
    days on market $439,000 Active 114 DOM
31. 2026-08-18
    days on market $439,000 Active 113 DOM
32. 2026-08-17
    days on market $439,000 Active 112 DOM
33. 2026-08-16
    days on market $439,000 Active 111 DOM
34. 2026-08-15
    days on market $439,000 Active 110 DOM
35. 2026-08-14
    days on market $439,000 Active 109 DOM
36. 2026-08-13
    days on market $439,000 Active 108 DOM
37. 2026-08-12
    days on market $439,000 Active 107 DOM
38. 2026-08-11
    days on market $439,000 Active 106 DOM
39. 2026-08-10
    days on market $439,000 Active 105 DOM
40. 2026-08-09
    days on market $439,000 Active 104 DOM
41. 2026-08-08
    days on market $439,000 Active 103 DOM
42. 2026-08-07
    days on market $439,000 Active 102 DOM
43. 2026-08-06
    days on market $439,000 Active 101 DOM
44. 2026-08-05
    days on market $439,000 Active 100 DOM
45. 2026-08-04
    days on market $439,000 Active 99 DOM
46. 2026-08-03
    days on market $439,000 Active 98 DOM
47. 2026-07-31
    days on market $439,000 Active 95 DOM
48. 2026-07-29
    days on market $439,000 Active 93 DOM
49. 2026-07-27
    days on market $439,000 Active 91 DOM
50. 2026-07-25
    days on market $439,000 Active 89 DOM

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

Taxation est. · year 1

• Rental income: $36,591
• − Mortgage interest: −$24,591
• − Property taxes: −$6,585
• − Insurance: −$2,195
• − Repairs & maintenance: −$2,927
• − Management: −$2,927
• − Depreciation: −$12,771
• Taxable loss: −$15,405
• Est. tax savings @ 24.0%: +$3,697
• After-tax cash flow: $-3,802/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 · 12 photos

Fair 45/100 Moderate rehab Est. rehab $50,200–$90,360 screening

This property requires significant renovations to improve its condition and increase its value. The kitchen, bathrooms, and exterior are in poor condition and require major repairs.

Repairs flagged

• Major kitchen cabinets — dated and in poor condition
• Major bathroom fixtures — outdated and cluttered
• Major flooring — dated and in poor condition
• Major interior walls — paint peeling and cluttered spaces
• Major exterior siding — deteriorating condition
• Major windows — old and single-pane
• Major landscaping — overgrown vegetation

Value-add opportunities

• Resale kitchen renovation — modernizing the kitchen would significantly increase the home's appeal ↑
• Resale bathroom renovation — updating the bathrooms would improve the home's overall appeal ↑
• Both exterior siding and landscaping — improving the exterior would enhance curb appeal and increase both resale and rental value ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 50/100

Zoned Schools

Elementary Edmunds Elementary School D VT #50/192 Nat'l #12,785/41,679 Middle Edmunds Middle School C VT #8/26 Nat'l #3,585/14,009 High Burlington High School D VT #8/48 Nat'l #5,677/17,239

Schools (NCES district)

No district data.

B Composite livability gradescore 74/100

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 · 170,769 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: 14% of renters

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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%

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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%

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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

Property features AI

Finance

• Other: Documents available: Deed, Property Disclosure, Tax Map, other documents

Exterior

• Parking: Detached garage with capacity for 1 vehicleDirt driveway
• Utilities: Public waterPublic sewer100 Amp electric service with circuit breakers (on-site)Natural gas on-site (Vermont Gas Systems)Cable available (Xfinity/Comcast)Fiber optic and high-speed internet availableTelephone available (Burlington Telecom)
• Home design: New Englander architectural styleWood frame construction with clapboard/wood sidingGrey and white exteriorAsphalt shingle roofExisting property (built in 1899)
• Construction: Wood frame constructionClapboard/wood sidingAsphalt shingle roofBuilt in 1899
• Exterior features: Curbing and sidewalksStreet lightsNear trails and walking trailsNear golf course and other pathsClose to shopping, public transportation, hospital, and schools

Interior

• Kitchen: Oven (wall)Range - ElectricExhaust hoodDishwasherRefrigeratorFreezer
• Flooring: CarpetLaminateTileVinylWoodCombination flooring
• Bathrooms: 1 full bathroom2 three-quarter bathrooms
• Heating & cooling: Natural gas heatingForced air / hot air
• Interior features: 8 total roomsFull basement with interior accessBasement is climate controlled, insulated, partially finished with concrete floor, interior stairs, exterior access, and storage space
• Laundry & utility: WasherDryerNatural gas water heater

Price history

-12.0% since first listed

6 events — show timeline

• 2026-04-27 Listed $439,000 PrimeMLS
• 2026-04-27 Listed $439,000 PrimeMLS
• 2024-12-20 Price Changed $455,000 PrimeMLS
• 2024-11-28 Price Changed $470,000 PrimeMLS
• 2024-07-26 Price Changed $479,000 PrimeMLS
• 2024-03-15 Price Changed $499,000 PrimeMLS