25 Peru St · Burlington, VT 05401

$575,000

2 bd · 2.0 ba · 2,478 sqft · MultiFamily public records · 34 Days on market

Built 1899 2,178 sqft lot

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Why this score? — see what drove the C 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 +23.1/30.0
• ARV discount +7.5/15.0
• DSCR +7.4/10.0
• 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
• 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 MLS

Tenants love the convenient Old North End location of this 2-unit apartment building. Close to schools, eateries and just a few blocks to Church Street Marketplace and the waterfront. Each unit offers 3-4 bedrooms and/or potential office spaces ideal for working from home or remote learning. The first floor unit features an updated kitchen with stainless appliances and butler's pantry plus two storage rooms off the back. Upstairs you'll find a flexible floor plan with outside covered porch and access to the walk-up attic. Separate utilities plus 2 off-street parking spaces. 5 year old roof. At a 7.61% cap rate, now is the time to invest in Burlington today!

Key facts

• Two spacious units
• Separate utilities
• Original woodwork

Tags

• TWO SPACIOUS UNITS
• SEPARATE UTILITIES
• ORIGINAL WOODWORK
• BASEMENT LAUNDRY
• TANDEM OFF-STREET PARKING
• NEW KITCHEN APPLIANCES

Property features AI

Finance

• Other: Documents available: deed and lease agreements
• Financial info: Net income reported as $42,594; Operating expenses include insurance, maintenance, trash, and water/sewer

Exterior

• Parking: Gravel driveway
• Utilities: Public sewer; Public water; Electric service with circuit breakers; Gas on-site; Trash service: curbside, private, recycle; High-speed internet available; Cable service available from various providers; Fuel provided by VGS
• Home design: Apartment building / Duplex / Multi-family property; Flat-style units; Existing structure; Tan exterior
• Construction: Built in 1899; Wood frame construction with vinyl exterior; Membrane roof; Concrete basement
• Exterior features: City lot in town with sidewalks and near schools; Gravel driveway; Paved, public, publicly maintained road frontage

Interior

• Kitchen: Water heater is natural gas and is rented
• Bedrooms: Two units with a total of 2 units: Unit 1 has 3 bedrooms (level 1); Unit 2 has 4 bedrooms (level 2)
• Flooring: Carpet; Hardwood; Vinyl
• Bathrooms: Two full bathrooms total; Unit 1 has 1 bath; Unit 2 has 1 bath
• Heating & cooling: Natural gas heating; No central air
• Interior features: Basement with interior access; Basement constructed of concrete and insulated; Carpet, hardwood, and vinyl flooring throughout; Membrane roof
• Laundry & utility: Natural gas heating

What this means for you Summary

Snapshot

• This is a 2 × 4-bed/1.0-bath units multifamily listed at $575k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive. Per door: $517/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $575k).
• Recommended offer: $558k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.5% 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; 898 units permitted in Chittenden County in 2024 (554 in 5+ unit buildings).
• At $5,944/mo this rent would consume 109% 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 $17k 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 34 days — a 3% lower offer ($558k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 6y 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.
• Current owner paid $385k; 49% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

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

Recommended offer $557,750 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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: 8.45%
• Cash-on-cash: 7.71%
• DSCR: 1.34
• GRM: 8.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -7.2%
• Equity multiple: 0.74×
• Total profit: $-41,866
• Equity at exit: $85,734

10-year hold

• IRR: -0.9%
• Equity multiple: 0.95×
• Total profit: $-8,548
• Equity at exit: $49,715

Cash invested: $161,000 (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: 16.1×

Monthly cashflow live

• Estimated rent: $5,944 high
• Mortgage (P&I): −$3,015
• Tax from tax record: −$406 /mo · $4,876/yr
• Insurance: −$240
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,248
• Net cashflow: $1,034

Break-even live

Break-even rent $4,635

Max offer price $575,000

Occupancy floor 78%

Sensitivity live

Price	-10% $1,360	-5% $1,197	+0% $1,034	+5% $872	+10% $709
Rent	-10% $565	-5% $800	+0% $1,034	+5% $1,269	+10% $1,504
Rate	-1.0pp $1,324	-0.5pp $1,181	base $1,034	+0.5pp $885	+1.0pp $734

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

Units	Beds	Baths	Est. rent
▸ 2× units	4	1	$5,944
Total (2 units)			$5,944

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: $143,750
• Closing costs: $17,250
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-21
   days on market $575,000 Active 34 DOM
2. 2026-06-19
   days on market $575,000 Active 32 DOM
3. 2026-06-18
   days on market $575,000 Active 31 DOM
4. 2026-06-17
   days on market $575,000 Active 30 DOM
5. 2026-06-16
   days on market $575,000 Active 29 DOM
6. 2026-06-15
   days on market $575,000 Active 28 DOM
7. 2026-06-14
   days on market $575,000 Active 26 DOM
8. 2026-06-13
   days on market $575,000 Active 25 DOM
9. 2026-06-10
   days on market $575,000 Active 23 DOM
10. 2026-06-09
    days on market $575,000 Active 22 DOM
11. 2026-06-08
    days on market $575,000 Active 21 DOM
12. 2026-06-07
    days on market $575,000 Active 20 DOM
13. 2026-06-05
    days on market $575,000 Active 17 DOM
14. 2026-06-03
    days on market $575,000 Active 16 DOM
15. 2026-06-02
    days on market $575,000 Active 15 DOM
16. 2026-06-01
    days on market $575,000 Active 14 DOM
17. 2026-05-31
    days on market $575,000 Active 13 DOM
18. 2026-05-30
    days on market $575,000 Active 12 DOM
19. 2026-05-18
    listed $575,000 Active
20. 2021-04-12
    soldstatus $385,000
21. 2021-03-24
    soldstatus $385,000 Closed 665-char remark

    Show marketing remark (665 chars)

    Tenants love the convenient Old North End location of this 2-unit apartment building. Close to schools, eateries and just a few blocks to Church Street Marketplace and the waterfront. Each unit offers 3-4 bedrooms and/or potential office spaces ideal for working from home or remote learning. The first floor unit features an updated kitchen with stainless appliances and butler's pantry plus two storage rooms off the back. Upstairs you'll find a flexible floor plan with outside covered porch and access to the walk-up attic. Separate utilities plus 2 off-street parking spaces. 5 year old roof. At a 7.61% cap rate, now is the time to invest in Burlington today!

22. 2021-01-04
    status Pending 665-char remark

    Show marketing remark (665 chars)

    Tenants love the convenient Old North End location of this 2-unit apartment building. Close to schools, eateries and just a few blocks to Church Street Marketplace and the waterfront. Each unit offers 3-4 bedrooms and/or potential office spaces ideal for working from home or remote learning. The first floor unit features an updated kitchen with stainless appliances and butler's pantry plus two storage rooms off the back. Upstairs you'll find a flexible floor plan with outside covered porch and access to the walk-up attic. Separate utilities plus 2 off-street parking spaces. 5 year old roof. At a 7.61% cap rate, now is the time to invest in Burlington today!

23. 2021-01-04
    status Active 665-char remark

    Show marketing remark (665 chars)

    Tenants love the convenient Old North End location of this 2-unit apartment building. Close to schools, eateries and just a few blocks to Church Street Marketplace and the waterfront. Each unit offers 3-4 bedrooms and/or potential office spaces ideal for working from home or remote learning. The first floor unit features an updated kitchen with stainless appliances and butler's pantry plus two storage rooms off the back. Upstairs you'll find a flexible floor plan with outside covered porch and access to the walk-up attic. Separate utilities plus 2 off-street parking spaces. 5 year old roof. At a 7.61% cap rate, now is the time to invest in Burlington today!

24. 2021-01-04
    historical 665-char remark

    Show marketing remark (665 chars)

    Tenants love the convenient Old North End location of this 2-unit apartment building. Close to schools, eateries and just a few blocks to Church Street Marketplace and the waterfront. Each unit offers 3-4 bedrooms and/or potential office spaces ideal for working from home or remote learning. The first floor unit features an updated kitchen with stainless appliances and butler's pantry plus two storage rooms off the back. Upstairs you'll find a flexible floor plan with outside covered porch and access to the walk-up attic. Separate utilities plus 2 off-street parking spaces. 5 year old roof. At a 7.61% cap rate, now is the time to invest in Burlington today!

25. 2020-11-16
    status Active 665-char remark

    Show marketing remark (665 chars)

    Tenants love the convenient Old North End location of this 2-unit apartment building. Close to schools, eateries and just a few blocks to Church Street Marketplace and the waterfront. Each unit offers 3-4 bedrooms and/or potential office spaces ideal for working from home or remote learning. The first floor unit features an updated kitchen with stainless appliances and butler's pantry plus two storage rooms off the back. Upstairs you'll find a flexible floor plan with outside covered porch and access to the walk-up attic. Separate utilities plus 2 off-street parking spaces. 5 year old roof. At a 7.61% cap rate, now is the time to invest in Burlington today!

26. 2020-11-02
    status Pending 665-char remark

    Show marketing remark (665 chars)

    Tenants love the convenient Old North End location of this 2-unit apartment building. Close to schools, eateries and just a few blocks to Church Street Marketplace and the waterfront. Each unit offers 3-4 bedrooms and/or potential office spaces ideal for working from home or remote learning. The first floor unit features an updated kitchen with stainless appliances and butler's pantry plus two storage rooms off the back. Upstairs you'll find a flexible floor plan with outside covered porch and access to the walk-up attic. Separate utilities plus 2 off-street parking spaces. 5 year old roof. At a 7.61% cap rate, now is the time to invest in Burlington today!

27. 2020-09-18
    listed $399,000 Active 665-char remark

    Show marketing remark (665 chars)

    Tenants love the convenient Old North End location of this 2-unit apartment building. Close to schools, eateries and just a few blocks to Church Street Marketplace and the waterfront. Each unit offers 3-4 bedrooms and/or potential office spaces ideal for working from home or remote learning. The first floor unit features an updated kitchen with stainless appliances and butler's pantry plus two storage rooms off the back. Upstairs you'll find a flexible floor plan with outside covered porch and access to the walk-up attic. Separate utilities plus 2 off-street parking spaces. 5 year old roof. At a 7.61% cap rate, now is the time to invest in Burlington today!

28. 1987-04-24
    soldstatus $69,500

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

Tax reassessment forecast VT · Partial reset (capped growth)

• Current annual tax: $4,876 · $406/mo
• Projected year-2 tax: $7,901 · $658/mo
• Expected delta: +$3,024/yr (+$252/mo · 62.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

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: $71,328
• − Mortgage interest: −$32,209
• − Property taxes: −$4,876
• − Insurance: −$2,875
• − Repairs & maintenance: −$5,706
• − Management: −$5,706
• − Depreciation: −$16,727
• Taxable income: $3,228
• Est. tax owed @ 24.0%: −$775
• After-tax cash flow: $11,639/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

+727.3% since first listed

10 events — show timeline

• 2026-05-18 Listed $575,000 PrimeMLS
• 2021-04-12 Sold (Public Records) $385,000 Public Records
• 2021-03-24 Sold (MLS) $385,000 PrimeMLS
• 2021-01-04 Pending — PrimeMLS
• 2021-01-04 Relisted — PrimeMLS
• 2021-01-04 Delisted — PrimeMLS
• 2020-11-16 Relisted — PrimeMLS
• 2020-11-02 Pending — PrimeMLS
• 2020-09-18 Listed $399,000 PrimeMLS
• 1987-04-24 Sold (Public Records) $69,500 Public Records

Property tax history

+22.9%/yr

Latest (2024): $4,876 · +8.5% YoY. Source: county tax records.