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47-49 Greene St Duplex
D+ Composite 48.26
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 +14.3/15.0
  • Cash flow +13.0/30.0
  • Schools +4.4/10.0
  • DSCR +3.9/10.0
  • 1% rule +3.7/10.0
  • Livability +3.7/5.0
  • Condition / age +2.8/5.0
  • Rent growth +2.6/5.0
  • Appreciation +0.0/10.0

$599,900

47-49 Greene St · Burlington, VT 05401
6 bd · 2.0 ba · 1,976 sqft · MultiFamily · 100 Days on market
Built 1899 Average condition 3,484 sqft lot $304/sqft · 15% below area Est $706k · 15% under

🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence

Multi-family units

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

Listing remarks

Don’t miss this charming duplex in the heart of Burlington, offering an excellent opportunity for both owner-occupants and investors. Each unit features three bedrooms, one full bath, and separate utilities for added convenience. The first-floor unit is vacant and ready for immediate occupancy, showcasing a welcoming front porch, beautiful hardwood floors, classic French doors, and direct access to the basement. The second-floor unit offers hardwood floors, three spacious bedrooms, one full bath, and a private back porch, and is currently leased through the end of July.

Key facts

  • Classic french doors
  • Private back porch
  • Charming duplex

Tags

CHARMING DUPLEXWELCOMING FRONT PORCHHARDWOOD FLOORSCLASSIC FRENCH DOORSDIRECT ACCESS TO BASEMENTPRIVATE BACK PORCH

Neighborhood map

Property Rental comp Retail Costco Walmart Transit Schools Stadiums Fortune 500 · Circle radius: 6.0 mi
Loading POIs…

What this means for you Summary

Snapshot

  • This is a 2 × 3-bed/1.0-bath units multifamily listed at $600k. Condition is rated average.

Deal economics

  • At list price, monthly cash flow is $-35 ($-415/yr) — negative. Per door: $-17/mo.
  • To cash-flow at today's rent, offer at most $595k (0.8% below list).
  • To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $520k (13.3% below list).
  • Recommended offer: $520k (13.3% below list) — sets the bar for 1% rule.
  • Cap rate 6.2% 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; 898 units permitted in Chittenden County in 2024 (554 in 5+ unit buildings).
  • At $2,602/mo per unit this rent would consume 48% 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 $4k of loan paydown is wiped out by about $18k 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 100 days — a 9% lower offer ($546k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

  • Watch-outs: built in 1899 — expect roof / HVAC / electrical / plumbing capex.
Recommended offer $520,400 (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 100 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. Built in 1899 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
  6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
  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
-0.25%
DSCR
0.99
GRM
9.6

CMA / ARV

ARV (median comp)
$706,021
List price
$599,900
Delta
-15.03%
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
65-67 N Willard St 0.09mi 5/2.0 (-1) 1,964 (-1%) 14mo $730,000 $372 78
11 Grant St 0.26mi 5/2.0 (-1) 1,980 (+0%) 16mo $610,000 $308 69
9 Hyde St 0.22mi 6/2.0 2,171 (+10%) 16mo $472,000 $217 60
94 Park St 0.56mi 5/2.0 (-1) 1,848 (-6%) 3mo $700,000 $379 56
174-176 Intervale Ave 0.49mi 5/2.0 (-1) 1,904 (-4%) 14mo $520,000 $273 54
75 Archibald St 0.41mi 5/1.0 (-1) 1,884 (-5%) 12mo $461,000 $245 54
50 Bright St 0.49mi 6/2.0 2,105 (+6%) 15mo $701,097 $333 54
148-150 Park St 0.58mi 6/2.0 1,844 (-7%) 11mo $505,000 $274 52
442 North St 0.30mi 5/4.0 (-1) 2,047 (+4%) 20mo $735,000 $359 51
215 Elmwood Ave 0.44mi 5/2.0 (-1) 2,186 (+11%) 8mo $615,000 $281 50
38 Sherman St 0.59mi 5/5.0 (-1) 2,102 (+6%) 8mo $710,000 $338 38
89 Pitkin St 0.72mi 5/2.0 (-1) 2,100 (+6%) 16mo $695,000 $331 37

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
$-112,008
Equity at exit
$89,447
10-year hold
IRR
-18.6%
Equity multiple
0.11×
Total profit
$-149,533
Equity at exit
$51,868

Cash invested: $167,972 (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.
Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

For sale now
9 active · 3 under contract
Months of supply
18.0 mo (6%/mo absorbed)
Median asking
$635,000 ($319/sqft)
Median days on market
63 d
This list price
33% of active listings are priced below it
ARV vs active asking
+11.8% above 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
19.2×

Monthly cashflow live

Estimated rent
$5,204 high interval (Pro) →
Mortgage (P&I)
$3,146
Tax est. 1.5%
$750 /mo · $8,998/yr
Insurance
$250
HOA
$0
Vacancy / Maint / Mgmt
$1,093
Net cashflow
$-35

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

UnitsBedsBathsEst. rent
Total (2 units) $5,204

Break-even live

Break-even rent $5,248
Max offer price $594,891
Occupancy floor 96%

Sensitivity live

Price -10% $380 -5% $173 +0% $-35 +5% $-242 +10% $-449
Rent -10% $-446 -5% $-240 +0% $-35 +5% $171 +10% $377
Rate -1.0pp $267 -0.5pp $118 base $-35 +0.5pp $-190 +1.0pp $-348

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
$149,975
Closing costs
$17,997
Reserves months
Total cash needed

Loan-product check · same deal, 3 products live

Conventional

25% down · 7.5% · 30yr

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

Personal DTI + credit; lowest rate.

DSCR

20% down · 8.5% · 30yr

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

No personal income docs; deal must DSCR.

Hard money

10% down · 12.0% · 12mo

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

Short-term bridge; refi at stabilization.

Rent comps 40 comps

AddressBedsBaths SqftRent$/sqft DOM Units Dist
69 Greene St Apt 1 Burlington, VT 2.0 1.0 $1,800 5d 1 0.05mi
19 Greene St Burlington, VT 3.0 1.0 $2,400 5d 1 0.06mi
58 N Union St Apt 1 Burlington, VT 3.0 1.0 $2,600 5d 1 0.06mi
10 Isham St Apt 2 Burlington, VT 2.0 1.0 $1,650 5d 1 0.07mi
41 Loomis St #39 Burlington, VT 2.0 1.0 $2,000 5d 1 0.07mi
52 Isham St Unit 2 Burlington, VT 3.0 1.0 1065 $3,050 $2.86 139d 1 0.09mi
8 S Union St Unit 1 Burlington, VT 2.0 1.0 1100 $2,100 $1.91 116d 1 0.13mi
14 N Winooski Ave Burlington, VT 2.0 1.0 $1,650 139d 1 0.17mi
88 N Winooski Ave Burlington, VT 4.0 1.0 $4,380 5d 1 0.17mi
6 1/2 N Winooski Ave #301 Burlington, VT 2.0 1.0 $1,750 5d 1 0.17mi
6 1/2 N Winooski Ave Burlington, VT 3.0 1.0 $2,100 116d 1 0.18mi
100 N Winooski Ave Burlington, VT 4.0 1.0 $4,280 5d 2 0.18mi
37 S Willard St Burlington, VT 3.0 1.0 900 $2,625 $2.92 139d 1 0.19mi
277-279 North St Burlington, VT 3.0 1.5 $3,135 2d 1 0.22mi
372-374 North St Burlington, VT 3.0 1.0 1080 $2,880 $2.67 139d 1 0.23mi
66 Hungerford Ter Burlington, VT 4.0 1.0–2.0 1750 $5,700 $3.26 5d 2 0.24mi
21 Hyde St Unit 1 Burlington, VT 4.0 1.0 1181 $2,800 $2.37 5d 1 0.25mi
21 Hyde St Unit 2 Burlington, VT 3.0 1.0 1163 $2,400 $2.06 5d 1 0.25mi
166 N Winooski Ave Unit 2 Burlington, VT 3.0 1.0 856 $2,600 $3.04 5d 1 0.26mi
37 Hyde St Unit 7 Burlington, VT 4.0 2.0 1600 $4,000 $2.50 139d 1 0.27mi
252 North St Burlington, VT 4.0 1.0 $3,200 0d 3 0.28mi
96 S Union St Unit 3 Burlington, VT 4.0 1.0 $3,300 5d 1 0.28mi
244 North St Unit 1 Burlington, VT 3.0 1.0 $3,000 116d 1 0.29mi
416 Pearl St Burlington, VT 1.0–4.0 1.0 $3,617 139d 4 0.31mi
105 S Union St Unit 508 Burlington, VT 3.0 1.0 $3,665 5d 1 0.31mi
85 Peru St Unit 3 Burlington, VT 3.0 1.0 $2,550 5d 1 0.31mi
260 College St Unit 1 Burlington, VT 3.0 1.0 $3,180 5d 1 0.32mi
323-325 College St Unit 12 Burlington, VT 3.0 1.0 $3,060 5d 1 0.35mi
58-60 Intervale Ave Burlington, VT 3.0 1.0 1368 $2,400 $1.75 5d 1 0.36mi
191 North St Apt 4 Burlington, VT 4.0 1.0 $3,000 5d 1 0.36mi
191 North St Apt 1 Burlington, VT 4.0 1.0 $2,800 5d 1 0.36mi
176 Elmwood Ave Unit 1 Burlington, VT 3.0 1.0 $2,700 139d 1 0.37mi
383 College St Unit 2D Burlington, VT 2.0 2.0 $2,500 5d 1 0.37mi
288 Main St Burlington, VT 2.0 1.0 712 $2,000 $2.81 139d 1 0.39mi
403 College St Burlington, VT 3.0 2.0 1500 $3,750 $2.50 5d 1 0.39mi
407 College St Unit 1 Burlington, VT 2.0 1.0 $2,500 139d 1 0.40mi
73 Cedar St Burlington, VT 4.0 1.5 1600 $3,650 $2.28 5d 1 0.41mi
158 North St Burlington, VT 3.0 2.0 $3,235 0d 2 0.43mi
86 Archibald St Burlington, VT 3.0 1.0 $2,400 5d 1 0.43mi
17-19 Lafountain St Burlington, VT 4.0 1.0 $3,460 0d 2 0.43mi

Property features AI

Finance

Other
Property has deed and disclosure documents available
Financial info
Operating expenses include insurance, trash, and water/sewer

Exterior

Parking
Driveway (other type indicated)
Utilities
Public waterPublic sewerElectric service with circuit breaker panelCable internet available; cable company: ChoiceInternet via cableFuel service by VT GasTrash service: curbside with cans
Home design
Apartment building / duplexTwo flat-style unitsExisting structure built in 1899Tan exterior color
Construction
Wood frame construction with clapboard/wood sidingSlate roofBuilt in 1899
Exterior features
Near shopping and public transportationPaved road frontage

Interior

Kitchen
Kitchens present in each unit
Bedrooms
Two 3-bedroom units (each unit has 3 bedrooms)
Flooring
Hardwood flooring
Bathrooms
Two full bathrooms (one in each unit)
Heating & cooling
Natural gas heating with hot airNo central cooling reported
Interior features
Full unfinished basement with interior stairs, storage spaceHardwood flooring throughout
Laundry & utility
Utilities include public water and public sewer

Listing history 50 events

  1. 2026-09-24
    days on market $599,900 Active 100 DOM
  2. 2026-09-24
    days on market $599,900 Active 99 DOM
  3. 2026-09-22
    days on market $599,900 Active 98 DOM
  4. 2026-09-21
    days on market $599,900 Active 97 DOM
  5. 2026-09-20
    days on market $599,900 Active 96 DOM
  6. 2026-09-19
    days on market $599,900 Active 95 DOM
  7. 2026-09-18
    days on market $599,900 Active 94 DOM
  8. 2026-09-17
    days on market $599,900 Active 93 DOM
  9. 2026-09-16
    days on market $599,900 Active 92 DOM
  10. 2026-09-15
    days on market $599,900 Active 91 DOM
  11. 2026-09-14
    days on market $599,900 Active 90 DOM
  12. 2026-09-13
    days on market $599,900 Active 89 DOM
  13. 2026-09-12
    days on market $599,900 Active 88 DOM
  14. 2026-09-11
    days on market $599,900 Active 87 DOM
  15. 2026-09-05
    days on market $599,900 Active 81 DOM
  16. 2026-09-04
    days on market $599,900 Active 80 DOM
  17. 2026-09-03
    days on market $599,900 Active 79 DOM
  18. 2026-08-31
    days on market $599,900 Active 76 DOM
  19. 2026-08-30
    days on market $599,900 Active 75 DOM
  20. 2026-08-29
    days on market $599,900 Active 74 DOM
  21. 2026-08-28
    days on market $599,900 Active 73 DOM
  22. 2026-08-27
    days on market $599,900 Active 72 DOM
  23. 2026-08-26
    days on market $599,900 Active 71 DOM
  24. 2026-08-25
    days on market $599,900 Active 70 DOM
  25. 2026-08-24
    days on market $599,900 Active 69 DOM
  26. 2026-08-23
    days on market $599,900 Active 68 DOM
  27. 2026-08-22
    days on market $599,900 Active 67 DOM
  28. 2026-08-21
    days on market $599,900 Active 66 DOM
  29. 2026-08-20
    days on market $599,900 Active 65 DOM
  30. 2026-08-19
    days on market $599,900 Active 64 DOM
  31. 2026-08-18
    days on market $599,900 Active 63 DOM
  32. 2026-08-17
    days on market $599,900 Active 62 DOM
  33. 2026-08-16
    days on market $599,900 Active 61 DOM
  34. 2026-08-15
    days on market $599,900 Active 60 DOM
  35. 2026-08-14
    days on market $599,900 Active 59 DOM
  36. 2026-08-13
    days on market $599,900 Active 58 DOM
  37. 2026-08-12
    days on market $599,900 Active 57 DOM
  38. 2026-08-11
    days on market $599,900 Active 56 DOM
  39. 2026-08-10
    days on market $599,900 Active 55 DOM
  40. 2026-08-09
    days on market $599,900 Active 54 DOM
  41. 2026-08-08
    days on market $599,900 Active 53 DOM
  42. 2026-08-07
    days on market $599,900 Active 52 DOM
  43. 2026-08-06
    days on market $599,900 Active 51 DOM
  44. 2026-08-05
    days on market $599,900 Active 50 DOM
  45. 2026-08-04
    days on market $599,900 Active 49 DOM
  46. 2026-08-03
    days on market $599,900 Active 48 DOM
  47. 2026-07-31
    days on market $599,900 Active 45 DOM
  48. 2026-07-29
    days on market $599,900 Active 43 DOM
  49. 2026-07-27
    days on market $599,900 Active 41 DOM
  50. 2026-07-25
    days on market $599,900 Active 39 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 3/10 Moderate
  • 🌡 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

Nearby sold comps map

Loading sold comps map…

Walkable amenities ~0.75 mi

Loading nearby amenities…

Taxation est. · year 1

Rental income
$62,448
− Mortgage interest
−$33,604
− Property taxes
−$8,998
− Insurance
−$3,000
− Repairs & maintenance
−$4,996
− Management
−$4,996
− Depreciation
−$17,452
Taxable loss
−$10,597
combined federal + state — saved on this device
Est. tax savings @ 24.0%
+$2,543
After-tax cash flow
$2,128/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

Average 55/100 Moderate rehab Est. rehab $49,400–$88,920 screening

This two-unit property requires moderate renovations to the kitchen and bathrooms, with additional maintenance needed for painting and landscaping. The property has good structural integrity and a good roof, making it a solid investment opportunity.

Repairs flagged

  • Moderate kitchen cabinets — dated and in need of replacement
  • Moderate kitchen countertops — dated and in need of replacement
  • Moderate kitchen appliances — dated and in need of replacement
  • Moderate bathroom fixtures — basic and in need of replacement

Value-add opportunities

  • Both kitchen renovation — modernizing the kitchen would significantly increase both resale and rental value
  • Both bathroom renovation — updating the bathrooms would also increase both resale and rental value
  • Rental landscaping — improved landscaping would enhance curb appeal and rental potential

ⓘ 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 44/100

Zoned Schools

Elementary Sustainability Academy At Lawrence Barnes F VT #129/192 Nat'l #24,950/41,679 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

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

Price history

1 event — show timeline
  • 2026-06-16 Listed $599,900 PrimeMLS

Cash-flow waterfall

monthly

Sold comps — $/sqft

last 12 mo · ≤1 mi

Loading sold comps…