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.
Active under contract
Listed by: Watson Realty & Associates
$400,000
44 Baxter Street, Rutland City, VT 05701
6beds
3,900sqft
Est.:
Multi Family
Built in 1915
-- sqft lot
$-- Zestimate®
$103/sqft
$-- HOA
What's special
Fully remodeledNew windowsMostly updated interiorsNew vinyl sidingWell-maintained building
- 50 days |
- 314 |
- 16 |
Zillow last checked: 7 hours ago
Listing updated: March 26, 2026 at 01:22pm
Listed by:
Mike Kalil,
Watson Realty & Associates 802-773-3500
Source: PrimeMLS,MLS#: 5075867
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 6
- Bathrooms: 6
- Full bathrooms: 6
Heating
- Oil, Baseboard
Cooling
- None
Features
- Basement: Partially Finished,Walk-Up Access
Interior area
- Total structure area: 4,000
- Total interior livable area: 3,900 sqft
- Finished area above ground: 3,000
- Finished area below ground: 900
Property
Parking
- Parking features: Gravel
Features
- Levels: 2.5
- Frontage length: Road frontage: 122
Lot
- Size: 2,614 Square Feet
- Features: Corner Lot
Details
- Parcel number: 54017015454
- Zoning description: Residential
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
Materials
- Wood Frame
- Foundation: Concrete
- Roof: Asphalt Shingle
Condition
- New construction: No
- Year built: 1915
Utilities & green energy
- Electric: Circuit Breakers
- Sewer: Public Sewer
- Water: Public
- Utilities for property: Phone
Community & HOA
Location
- Region: Rutland
Financial & listing details
- Price per square foot: $103/sqft
- Tax assessed value: $123,100
- Annual tax amount: $4,705
- Date on market: 2/5/2026
Estimated market value
Not available
Estimated sales range
Not available
$2,955/mo
Price history
Price history
| Date | Event | Price |
|---|---|---|
| 2/5/2026 | Listed for sale | $400,000+166.7%$103/sqft |
Source:  PrimeMLS #5075867 Report a problem | ||
| 7/15/2021 | Sold | $150,000-21.1%$38/sqft |
Source: PrimeMLS #4855791 Report a problem | ||
| 4/17/2021 | Contingent | $190,000$49/sqft |
Source: PrimeMLS #4855791 Report a problem | ||
| 4/15/2021 | Listed for sale | $190,000-2.6%$49/sqft |
Source: PrimeMLS #4855791 Report a problem | ||
| 8/31/2012 | Sold | $195,000$50/sqft |
Source: Public Record Report a problem | ||
Public tax history
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2024 | -- | $123,100 |
| 2023 | -- | $123,100 |
| 2022 | -- | $123,100 |
| 2021 | -- | $123,100 |
| 2020 | -- | $123,100 |
| 2019 | -- | $123,100 |
| 2018 | -- | $123,100 |
| 2017 | -- | $123,100 |
| 2016 | -- | $123,100 +9900% |
| 2015 | -- | $1,231 |
| 2014 | -- | $1,231 |
| 2013 | -- | $1,231 |
| 2012 | -- | $1,231 |
| 2011 | -- | $1,231 |
| 2010 | -- | $1,231 |
| 2009 | -- | $1,231 |
| 2008 | -- | $1,231 |
| 2007 | -- | $1,231 |
Find assessor info on the county website
BuyAbility℠ payment
Est. payment
$2,683/mo
Principal & interest
$2063
Property taxes
$620
More affordability tools
Climate risks
Neighborhood: Rutland City
Nearby schools
GreatSchools rating
- NARutland Northwest SchoolGrades: PK-2Distance: 0.3 mi
- 3/10Rutland Middle SchoolGrades: 7-8Distance: 0.4 mi
- 8/10Rutland Senior High SchoolGrades: 9-12Distance: 1.7 mi
Local experts in 05701
- Vermont
- Rutland County
- Rutland
- 05701
- Rutland City
- 44 Baxter Street
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Nearby neighborhoods
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