NOT LISTED FOR SALE

273 W Main St Vergennes, VT 05491

18 Beds
8 Baths
6,891 Sq Ft
0.4 Acres

Last Sold June 28, 2017

Last sale price $431,500 $63 Per Sq Ft

193 Days on Market

Highlights

  • Zoned Heating and Cooling
  • Wood Siding
  • 2-minute walk to Town Green
  • Baseboard Heating
  • Carpet

About This Home

As of June 2017

Very high cash flow and great CAP Rate. Yes, the landlord pays heat and water and sewer but the net income is still outstanding. New high-end heating system installed for whole building 2005; electrical updated 2006 and 2012 along with plumbing improvements. Each unit has its own thermostat but controlled by landlord. Each unit has its own washer/dryer hookup. Good off street parking. Grade level units have sunrooms and covered front porches. This is a very good property for seasoned investor; just do the numbers. 2012 each unit new kitchens and new flooring. Owner has invested over $80,000 in last 3 years and over $20,000 in past 6 months on improvements.

Last Agent to Sell the Property

Warren Palm

BHHS Vermont Realty Group/S Burlington License #082.0001994 Listed on: 09/12/2016

BHHS Vermont Realty Group/S Burlington

Last Buyer's Agent

Warren Palm

BHHS Vermont Realty Group/S Burlington License #082.0001994 Listed on: 09/12/2016

BHHS Vermont Realty Group/S Burlington

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $7,263

Year Built

  • Built in 1900

Lot Details

  • 0.4 Acre Lot
  • Lot Sloped Up

Home Design

  • Concrete Foundation
  • Stone Foundation
  • Wood Frame Construction
  • Slate Roof
  • Metal Roof
  • Wood Siding
  • Vinyl Siding

Interior Spaces

  • 2-Story Property

Flooring

  • Carpet
  • Vinyl

Finished Basement

  • Walk-Out Basement
  • Apartment Living Space in Basement

Parking

  • 510 Car Parking Spaces
  • Gravel Driveway
  • On-Site Parking
  • Unassigned Parking

Schools

  • Vergennes UES #44 Elementary School
  • Vergennes Uhsd #5 Middle School
  • Vergennes Uhsd #5 High School

Utilities

  • Zoned Heating and Cooling
  • Baseboard Heating
  • Heating System Uses Oil
  • Separate Meters
  • 220 Volts
  • Oil Water Heater

Community Details

  • 8 Units
  • Gross Income $94,920

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$7,263

Year Built

Built in 1900

Lot Details

0

Listing Details

  • Status Detail: Closed
  • Directions: Rte 7 to Rte 22A. Go through light at center of town. West down hill. Property on left just before the bridge.
  • Assessment Amount: 329600
  • Assessment Year: 2011
  • Construction: Existing
  • Total Stories: 2
  • Price Per Sq Ft: 86.02
  • Property Class: Multi-Family
  • Sq Ft - Apx Total: 6891
  • Sq Ft - Apx Total Finished: 6891
  • Year Built: 1900
  • Remarks Public: Very high cash flow and great CAP Rate. Yes, the landlord pays heat and water and sewer but the net income is still outstanding. New high-end heating system installed for whole building 2005; electrical updated 2006 and 2012 along with plumbing improvements. Each unit has its own thermostat but controlled by landlord. Each unit has its own washer/dryer hookup. Good off street parking. Grade level units have sunrooms and covered front porches. This is a very good property for seasoned investor; just do the numbers. 2012 each unit new kitchens and new flooring. Owner has invested over $80,000 in last 3 years and over $20,000 in past 6 months on improvements.
  • List Agent: 25889
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 2

Interior Features

  • Flooring: Carpet, Vinyl
  • Total Rooms Above Ground: 21
  • Basement: Yes
  • Basement Access Type: Walkout
  • Basement Description: Apartments, Finished
  • Sq Ft - Apx Finished AG: 5016
  • Sq Ft - Apx Finished BG: 1875

Exterior Features

  • Construction: Wood Frame
  • Driveway: Gravel
  • Exterior: Vinyl, Wood
  • Foundation: Concrete, Stone
  • Road Frontage: Yes
  • Roads: Public
  • Roof: Metal, Slate

Garage/Parking

  • Parking: On-Site, Parking Spaces 5 - 10, Unassigned

Utilities

  • Electric: 220 Plug, 220 Volt, Circuit Breaker(s)
  • Sewer: Public
  • Water: Public
  • Water Heater: Off Boiler, Oil, On Demand, Owned
  • Heating Fuel: Oil
  • Heating: Baseboard, Hot Air, Multi Zone
  • Cooling: Multi Zone
  • Electric Company: Jackman
  • Separate Utilities: Yes
  • Total Electric Meters: 8
  • Total Heat Units: 1
  • Total Ranges: 8
  • Total Refrigerators: 8
  • Trash: Owner

Fee Information

  • Tax Class: Non-Homestead

Schools

  • Elementary School: Vergennes UES #44
  • Middle School: Vergennes UHSD #5
  • High School: Vergennes UHSD #5
  • Elementary School: Vergennes UES #44
  • High School: Vergennes UHSD #5

Lot Info

  • Lot Sq Ft: 17424
  • Lot Acres: 0.4
  • Lot Description: City Lot
  • Surveyed: Yes
  • Zoning: Commercial
  • Deed Book: 70
  • Deed Page: 282
  • Deed Recorded Type: Quit Claim

Multi Family

  • Gross Income: 94920
  • Total Units: 8
  • Total2 Bedroom Units: 6
  • Total3 Plus Bedroom Units: 2

Tax Info

  • Tax Gross Amount: 7263
  • Tax Year: 2016

MLS Schools

  • School Middle Jr: Vergennes UHSD #5

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
06/28/2017 06/28/17 Sold $431,500 -4.0% $63 / Sq Ft
03/24/2017 03/24/17 Pending -- -- --
09/12/2016 09/12/16 For Sale $449,500 -- $65 / Sq Ft
Source: PrimeMLS

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Warren Palm

    Seller's Agent in 2017

    Warren Palm

    BHHS Vermont Realty Group/S Burlington

    (802) 658-5555

    79 Total Sales

    Warren Palm
    Section Image
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Map

Source: PrimeMLS

MLS Number: 4515170

PrimeMLS

Vermont Addison County Vergennes 05491

273 W Main St, Vergennes, VT

This home is located at 273 W Main St, Vergennes, VT 05491 since 12 September 2016. This property was built in 1900. 273 W Main St is a home located in Addison County with nearby schools including Vergennes Union Elementary School, Vergennes Uhsd #5, and Champlain Valley Christian School.

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