44 Baxter St Rutland, VT 05701
Estimated payment $2,473/month
Highlights
- Corner Lot
- Walk-Up Access
- 2-minute walk to Baxter Street Park
- Baseboard Heating
About This Home
High-Yield 6-Unit Multifamily | Turnkey | 14%+ Cap Rate,Rutland, Vermont
This fully remodeled 6-unit multifamily property in Rutland offers exceptional cash flow with no deferred maintenance and strong in-place income. The building has been extensively updated and is 100% occupied, making it a true turnkey investment.
Property Overview
6 total units
5 one-bedroom apartments
1 efficiency unit
Mostly updated interiors
New vinyl siding & new windows
Well-maintained building with no capital needs
Financial Performance
Gross Annual Income: $81,252
Annual Operating Expenses: $24,841
(Includes taxes, insurance, oil, electric, water/sewer, trash, and Wi-Fi. Does not include management.)
Net Operating Income (NOI): $56,411
Cap Rate: 14%+ at asking price
Why This Property Stands Out
Strong, stable rental income
Fully occupied with proven performance
Major capital improvements already completed
Low operating expenses
Ideal for both new and seasoned investors seeking high yield
This is a rare opportunity to acquire a cash-flowing, stabilized multifamily asset with an exceptional return profile.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $4,705
Year Built
- Built in 1915
Lot Details
- 2,614 Sq Ft Lot
- Corner Lot
Parking
- Gravel Driveway
Home Design
- Concrete Foundation
- Wood Frame Construction
- Asphalt Shingled Roof
Interior Spaces
- Property has 2.5 Levels
- Basement
- Walk-Up Access
Bedrooms and Bathrooms
- 6 Bedrooms
- 6 Bathrooms
Location
- Flood Zone Lot
Utilities
- No Cooling
- Baseboard Heating
- Heating System Uses Oil
Community Details
Overview
- 6 Units
Building Details
- Gross Income $81,252
- Net Operating Income $56,411
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2024 | -- | $123,100 | $60,400 | $62,700 |
| 2023 | -- | $123,100 | $60,400 | $62,700 |
| 2022 | $4,251 | $123,100 | $60,400 | $62,700 |
| 2021 | $4,304 | $123,100 | $60,400 | $62,700 |
| 2020 | $4,266 | $123,100 | $60,400 | $62,700 |
| 2019 | $0 | $123,100 | $60,400 | $62,700 |
| 2018 | $3,945 | $123,100 | $60,400 | $62,700 |
| 2017 | $3,873 | $123,100 | $60,400 | $62,700 |
| 2016 | $0 | $123,100 | $60,400 | $62,700 |
| 2015 | -- | $1,231 | $0 | $0 |
| 2014 | -- | $1,231 | $0 | $0 |
| 2013 | -- | $1,231 | $0 | $0 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 02/05/2026 02/05/26 | For Sale | $400,000 | +166.7% | $103 / Sq Ft | |
| 07/15/2021 07/15/21 | Sold | $150,000 | -21.1% | $50 / Sq Ft | View Prior Sale |
| 04/17/2021 04/17/21 | Pending | -- | -- | -- | |
| 04/15/2021 04/15/21 | For Sale | $190,000 | -2.6% | $63 / Sq Ft | |
| 08/31/2012 08/31/12 | Sold | $195,000 | -25.0% | $65 / Sq Ft | View Prior Sale |
| 07/19/2012 07/19/12 | Pending | -- | -- | -- | |
| 05/08/2010 05/08/10 | For Sale | $259,900 | -- | $87 / Sq Ft |
Source: PrimeMLS
MLS Number: 5075867
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