M
Seller's Agent in 2024
Michael Gilman
3GEN Real Estate Inc
(917) 710-0899
9 in this area
16 Total Sales
77 River St Rutland, VT 05701
6
Beds
4
Baths
2,332
Sq Ft
6,970
Sq Ft Lot
Highlights
- Colonial Architecture
- Baseboard Heating
- 2-minute walk to Rutland Downtown Historic District
About This Home
As of November 2024High cash flow 4plex, updated and professionally managed, located in Rutland. Listed at close to a 10% cap and a Net Operating Income over $31K, with significant upside from undermarket rents. This combination of value-add and high cash flow is rare to find. Perfect for a high cash flow investment or live in one unit for free while covering mortgage + expenses and enjoying additional cash flow. One Unit has been left open for showings or immediate owner occupancy. The building has been professionally managed and renovated. The investment is projected to yield over a 13% year 1 cash on cash return based on current numbers, and cash returns can go to 23%+ per year if rents are brought to market. This allows the new owner to realize significant returns from cash flow vs speculation. In addition to enjoying the tremendous cash flow, there is also significant upside to acquire real estate ahead of the historic multibillion dollar development occurring nearby at Killington, which, combined with rapidly falling rates, is already resulting in organic property appreciation and increased interest in the area from investors. The property is available as a package with other buildings across VT for a buyer looking for a larger high cash flow turnkey multifamily portfolio. Listing Broker is a member of the LLC selling the property.
Last Agent to Sell the Property
3GEN Real Estate Inc License #081.0134330 Listed on: 09/12/2024
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $4,366
Year Built
- Built in 1900
Lot Details
- 6,970 Sq Ft Lot
- Lot Sloped Up
Parking
- Gravel Driveway
Home Design
- Colonial Architecture
- Brick Foundation
- Stone Foundation
- Shingle Roof
- Vinyl Siding
Interior Spaces
- 2,332 Sq Ft Home
- 2-Story Property
Basement
- Walk-Out Basement
- Basement Fills Entire Space Under The House
Utilities
- Baseboard Heating
- Heating System Uses Oil
- Internet Available
- Cable TV Available
Community Details
Overview
- 4 Units
Building Details
- Operating Expense $20,039
- Gross Income $51,242
- Net Operating Income $31,203
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Sep 12, 2024
Closed on
Nov 1, 2024
Sold by
Ne Holdings I Llc
Bought by
Burum Jack
Seller's Agent
Michael Gilman
3GEN Real Estate Inc
Buyer's Agent
Lori Hurley
Four Corner Properties LLC
List Price
$295,000
Sold Price
$291,000
Premium/Discount to List
-$4,000
-1.36%
Views
7
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$28,619
Avg. Annual Appreciation
2.99%
Purchase Details
Listed on
Feb 8, 2023
Closed on
Apr 19, 2023
Sold by
Dragon Slayer Ltd Co
Bought by
Ne Holdings I Llc
Seller's Agent
Susan Bishop
Four Seasons Sotheby's Int'l Realty
Buyer's Agent
Susan Bishop
Four Seasons Sotheby's Int'l Realty
List Price
$220,000
Sold Price
$210,000
Premium/Discount to List
-$10,000
-4.55%
Views
47
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
23.42%
Purchase Details
Closed on
Aug 5, 2021
Sold by
Ellen Standish Osowski Executrix Of The
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Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Deed | $291,000 | -- | |
| Deed | $210,000 | -- | |
| Deed | $210,000 | -- | |
| Deed | $210,000 | -- | |
| Deed | -- | -- | |
| Deed | -- | -- | |
| Deed | -- | -- |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 11/04/2024 11/04/24 | Sold | $291,000 | -1.4% | $125 / Sq Ft |
| 09/16/2024 09/16/24 | Pending | -- | -- | -- |
| 09/12/2024 09/12/24 | For Sale | $295,000 | +40.5% | $127 / Sq Ft |
| 04/19/2023 04/19/23 | Sold | $210,000 | -4.5% | $84 / Sq Ft |
| 02/17/2023 02/17/23 | Pending | -- | -- | -- |
| 02/08/2023 02/08/23 | For Sale | $220,000 | -- | $88 / Sq Ft |
Source: PrimeMLS
Tax History Compared to Growth
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 | -- | $122,500 | $28,400 | $94,100 |
| 2023 | -- | $122,500 | $28,400 | $94,100 |
| 2022 | $4,230 | $122,500 | $28,400 | $94,100 |
| 2021 | $4,283 | $122,500 | $28,400 | $94,100 |
| 2020 | $4,245 | $122,500 | $28,400 | $94,100 |
| 2019 | $4,140 | $122,500 | $28,400 | $94,100 |
| 2018 | $4,146 | $122,500 | $28,400 | $94,100 |
| 2017 | $3,860 | $122,500 | $28,400 | $94,100 |
| 2016 | $3,848 | $122,500 | $28,400 | $94,100 |
Source: Public Records
Agents Affiliated with this Home
-
Michael Gilman
-
Lori Hurley
Buyer's Agent in 2024
Lori Hurley
Four Corner Properties LLC
(508) 320-9014
8 in this area
132 Total Sales
-
Susan Bishop
Seller's Agent in 2023
Susan Bishop
Four Seasons Sotheby's Int'l Realty
(802) 558-2180
93 in this area
209 Total Sales
Map
Source: PrimeMLS
MLS Number: 5014031
APN: 540-170-14083
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