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  • Listed by: Watson Realty & Associates • Nancy Greenwood
    $499,000

    40 South Main Street, Rutland City, VT 05701

    5beds
    3,800sqft
    : 
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    Multi Family
    Built in 1900
    -- sqft lot
    $473,900 Zestimate®
    $131/sqft
    $-- HOA

    What's special

    One level livingTwo car attached garageBuilt-in bookcasesAbundance of natural lightThree bedrooms
    Investors, take note: here's a four unit multi-family property that pairs steady rental income with a prime uptown Rutland location—a combination savvy buyers rarely stumble upon. Built for performance, this well-maintained solid building features separate utilities across its units, meaning tenants cover their own usage and you sidestep the headache of dividing bills every month. The first floor spacious apartment also has use of the two car attached garage, three bedrooms and one level living. The second floor consist of (2) one bedroom units and a studio apartment with a private balcony. The fourth unit offers an abundance of natural light with built-in bookcases, a skylight and it's own access to a private garden at the back of the building. This layout accommodates multiple households comfortably, keeping occupancy strong and vacancies short. Whether you're an experienced landlord expanding your portfolio or a first-time investor dipping a toe into rental ownership, this property checks the practical boxes. The care that previous owners and the current owner has poured into upkeep shows, sparing you the surprise expenses that often plague older buildings. Simply put, it's ready to generate returns from the moment you collect the keys with a great rental history. Some newer heat pumps have been added for energy efficient heating. Location only sweetens the proposition. Tenants enjoy close proximity to Main Street Park, a pleasant green pocket perfect for lunch breaks and weekend lounging. Daily errands stay effortless with Shopping Plaza Road just minutes away, while Marble Valley Regional Transit puts car-free commuting within easy reach—a genuine selling point that keeps renters interested and leases signed. The bus also transports to Killington Ski area!
    18 days
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    302
    |
    13
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    Zillow last checked:

    Listing updated:

    Listed by:

    Nancy Greenwood,

    Watson Realty & Associates 802-773-3500,

    Max S Walker,

    Watson Realty & Associates

    Source: PrimeMLS,MLS#: 5097369MLS Logo

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      Facts & features

      Interior

      Bedrooms & bathrooms
      • Bedrooms: 5
      • Bathrooms: 4
      • Full bathrooms: 4
      Heating
      • Oil, Baseboard, Electric, Heat Pump
      Cooling
      • Mini Split
      Features
      • Basement: Concrete,Interior Stairs,Unfinished,Interior Access,Walk-Up Access
      Interior area
      • Total structure area: 5,340
      • Total interior livable area: 3,800 sqft
      • Finished area above ground: 3,800
      • Finished area below ground: 0

      Property

      Parking
      • Total spaces: 2
      • Parking features: Paved
      • Garage spaces: 2
      Features
      • Levels: Two
      • Exterior features: Balcony, Deck, Natural Shade
      • Fencing: Partial
      • Has view: Yes
      • View description: Mountain(s)
      • Frontage length: Road frontage: 75
      Lot
      • Size: 8,276 Square Feet
      • Features: City Lot, Sidewalks, Street Lights, Near Shopping, Near Skiing, Near Hospital
      Details
      • Parcel number: 54017010213
      • Zoning description: RESD 1

      Construction

      Type & style
      • Home type: MultiFamily
      • Architectural style: Colonial
      • Property subtype: Multi Family
      Materials
      • Wood Frame, Vinyl Siding
      • Foundation: Other
      • Roof: Slate
      Condition
      • New construction: No
      • Year built: 1900

      Utilities & green energy

      • Electric: Circuit Breakers
      • Sewer: Public Sewer
      • Water: Public
      • Utilities for property: Cable Available

      Community & HOA

      Location
      • Region: Rutland

      Financial & listing details

      • Price per square foot: $131/sqft
      • Tax assessed value: $168,500
      • Annual tax amount: $6,876
      • Date on market: 6/30/2026
      • Road surface type: Paved

        Estimated market value

        $473,900

        $450,000 - $498,000

        $1,825/mo

        Price history

        DateEventPrice
        6/30/2026Listed for sale$499,000+38.6%$131/sqft
        Source: PrimeMLS #5097369 Report a problem
        7/8/2024Listing removed--
        Source: Zillow Rentals Report a problem
        6/9/2024Listed for rent$1,700-2.9%
        Source: Zillow Rentals Report a problem
        4/15/2024Listing removed--
        Source: Zillow Rentals Report a problem
        3/23/2024Listed for rent$1,750
        Source: Zillow Rentals Report a problem
        8/4/2022Sold$360,000$95/sqft
        Source: PrimeMLS #4905437 Report a problem
        5/19/2022Contingent$360,000$95/sqft
        Source: PrimeMLS #4905437 Report a problem
        4/17/2022Listed for sale$360,000+80.1%$95/sqft
        Source: PrimeMLS #4905437 Report a problem
        8/27/2010Listing removed$199,900$53/sqft
        Source: Coldwell Banker Watson Realty #3105217 Report a problem
        6/17/2010Listed for sale$199,900$53/sqft
        Source: Visual Tour #21001843 Report a problem

        Public tax history

        YearProperty taxesTax assessment
        2024-- $168,500
        2023-- $168,500
        2022-- $168,500
        2021-- $168,500
        2020-- $168,500
        2019-- $168,500
        2018-- $168,500
        2017-- $168,500
        2016-- $168,500 +9900%
        2015-- $1,685
        2014-- $1,685
        2013-- $1,685
        2012-- $1,685
        2011-- $1,685 +0.1%
        2010-- $1,684
        2009-- $1,684
        2008-- $1,684
        2007-- $1,684
        Find assessor info on the county website

        Monthly payment

        Est. payment

        Payment breakdown

        Explore the cost of this home by adjusting the details. Changes won't be saved.
        All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
        HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
        Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.
        See how much you could borrow to make a competitive offer.

        Climate risks

        Neighborhood: Rutland City

        Getting around

        86 / 100
        Very Walkable
        51 / 100
        Bikeable

        Nearby schools

        GreatSchools rating
        Schools provided by the listing agent
        • Elementary: Rutland Northeast Primary Sch
        • Middle: Rutland Middle School
        • High: Rutland Senior High School
        • District: Rutland City School District

        Source: PrimeMLS. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.

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