The location offers many advantages with its proximity to essential amenities like Pearl Street, Church Street, the waterfront, universities and colleges, and the medical center. The setup of 16 one-bedroom condos with hardwood flooring and tile, along with off-street parking and laundry facilities, is attractive for tenants. The fact that the property is condominiumized is a significant advantage as it allows potential buyers to sell units individually, which can be a great selling point. Additionally, the ease of renting, managing, and maintaining the property makes it even more appealing. Properties in sought-after areas like this can indeed be rare finds. The location, amenities, and potential for future flexibility could make it a highly desirable investment for real estate investors. The current cap rate is 7%, with the ability to quickly increase the monthly rents within year one of ownership.
Property Details
Property Features
Property Information:
Year Built: 1920
Stories: 2
Living Area: 8,736 SqFt
Listing Office:
Office Name: Coldwell Banker Carlson Real Estate
Office Phone: (802) 253-7358
Listing Agent: Smith Macdonald Group
Interior Features
Interior Information:
Basement: Yes
Exterior Features
Parking Information:
Parking: Off Street, Parking Spaces 11 - 20
Lot Features
Lot Information:
Lot Size: 0.30 Acres
Utilities
Utilities Information:
Heating: Baseboard, Electric
Cooling: None
Price Information
Listing Price Info
Price Summary:
List Price: $2,395,000
Price Per SqFt: $274/SqFt
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Housing Market Comparison
See how this home compares to others in Burlington, VT.
Housing Market Reports are calculated by Rocket Homes Real Estate, LLC and based on information from the MLS. Data displayed may be a portion of, and not a complete set of all listings published in the MLS. Last updated on: 4/27/2024, 7:25:22 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Property Sales & Tax
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Schools
Schools Nearby
The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.
We're sorry, we currently don't have assigned school data for this listing.
Nearby Schools
5
/10
Sustainability Academy At Lawrence Barnes
123 North St
Distance between this listing and this school0.22 miles
Public Magnet Grades PK-5
3
/10
Integrated Arts Academy At H. O. Wheeler
6 Archibald St
Distance between this listing and this school0.40 miles
Public Magnet Grades PK-5
4
/10
Edmunds Elementary School
299 Main St
Distance between this listing and this school0.56 miles
Public District Grades KG-5
Nearby Schools
3
/10
Edmunds Middle School
275 Main St
Distance between this listing and this school0.54 miles
Public District Grades 6-8
2
/10
Winooski Middle School
80 Normand St
Distance between this listing and this school2.09 miles
Public District Grades 6-8
7
/10
Frederick H. Tuttle Middle School
550 Dorset St
Distance between this listing and this school2.60 miles
Public District Grades 6-8
Nearby Schools
4
/10
Burlington Senior High School
52 Institute Rd
Distance between this listing and this school1.44 miles
Public District Grades 9-12
1
/10
Winooski High School
80 Normand St
Distance between this listing and this school2.09 miles
Public District Grades 9-12
9
/10
South Burlington High School
550 Dorset St
Distance between this listing and this school2.27 miles
The neighbors living near this home have an average income of $21,083. Typical income of Burlington, VT residents is less than $35k annually. The most common type of family is single, no kids. Typical level of education for residents in this area is post secondary degree.
All data provided by Home Junction and Claritas
Frequently Asked Questions About 61 Elmwood Ave
What is the listing price of this property?
The listing price of 61 Elmwood Ave property is $2,395,000.
What type of property is this?
The property 61 Elmwood Ave is land located in Burlington, Vermont, 05401.
Is this property for sale now?
Active Listing: 61 Elmwood Ave is For Sale (Active/New) which means the seller is accepting offers.
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This home is located at 61 Elmwood Ave in Burlington, VT and zip code 05401 in the Old North End neighborhood. This 8,736 square foot home, which was built in 1920, sits on a 0.30 acre lot. It has been listed on Rocket Homes since December 16, 2023 and is currently priced at $2,395,000.
In March 2024, from all listings sold in Burlington, VT there were more than 4 sold above asking price, over 6 sold below and more than 2 were sold right at the asked price. The inventory of homes for sale in Burlington, VT between February 2024 and March 2024 increased by 6%.
From Rocket Homes Real Estate and based on county public records data.
© Copyright 2024 PrimeMLS, Inc. All rights reserved. This information is deemed reliable, but not guaranteed. The data relating to real estate displayed on this display comes in part from the IDX Program of PrimeMLS. The information being provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. 
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