40 South Main Street

Active

$499,000

5 beds4 baths3,800 sqft

40 S Main St, Rutland, VT 05701

Est: $3,237/moGet pre-approved

Multi FamilyProperty Type

0.19 acresLot Size

1900Year Built

$131/sq ftPrice per sq ft

2 carsParking Spaces

Description

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....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!

98 days on Market

Listed by: Nancy Greenwood • Watson Realty & Associates
Listed by: Max Walker • Watson Realty & Associates

Last updated: 07/16/2026 06:07 PM • Source: New England Real Estate Network, MLS#: 5097369

Location

Listing Courtesy of Watson Realty & Associates

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$3,237 per month

30 year fixed, 7.03% Interest

Principal and Interest

$2,664

Property Taxes

$573

HOA Dues

The Payment Calculator is for illustrative purposes only.

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Property Information for 40 South Main Street

Property Details

Taxes: $6,876 / year
MLS Type: Multi Family
County: Rutland County
Zoning: RESD 1

Building Information

Stories: 2
Residences: 4
Year Built: 1900
Lot Size: 0.19 AC / 8,276 SF

Summary

Location and General Information

City: Rutland City
County: VT-Rutland

Directions: North Main Street. Property is located between Spellman Terrace and E Washington St.
Latitude: 43.605672000001000
Longitude: -72.971272999999997
Road Frontage: Yes
Seasonal: No
State: VT
Street Designation: Street
Zip Code: 05701

Taxes and HOA Information

SPAN Number: 540-170-10213
Tax Year: 2026

Taxes TBD: No

Parking

Garage: Yes
Garage Capacity: 2.00

Driveway: Paved

Virtual Tour

Property Panorama Virtual Tour: https://tour.primemls.com/40-South-Main-Street-Rutland-City-VT-05701/unbranded

Property

Lot Information

Lot Features: City Lot, Mountain View, Sidewalks, Street Lights, Near Shopping, Near Skiing, Near Public Transport, Near Hospital
Lot Size Acres: 0.19

Road Frontage Length: 75.0
Total Finished Area: 3800.0
Above Grade Finished Area: 3800.0
Above Grade Finished Area Source: Assessor
Above Grade Unfinished Area: 0.0
AboveGradeUnfinishedAreaSource: Assessor
Below Grade Finished Area: 0.0
Below Grade Finished Area Source: Assessor
Below Grade Unfinished Area: 1540.0
BelowGradeUnfinishedAreaSource: Assessor
Lot Size Square Feet: 8276.0
Total Area: 5340.0

Property and Assessments

Property Class: Multi-Family
Flood Zone: No

PreConstruction: No
Surveyed: Unknown
Year Built: 1900
School District: Rutland City School District
High School: Rutland Senior High School
Middle/Jr School: Rutland Middle School
Elementary School: Rutland Northeast Primary Sch

Utilities

Electric: Circuit Breaker(s)
Sewer: Public

Water Source: Public
Utilities: Cable Available
Total Electric Meters: 2
Internet: High Speed Intrnt Avail

Interior and Exterior Features

Exterior Features

Construction Materials: Wood Frame, Vinyl Siding
Roof: Slate

Total Ranges: 4

Interior Features

Basement: Yes
Basement Access Type: Walk-up

Basement Description: Concrete, Interior Stairs, Unfinished, Interior Access
Total Full Baths: 4
Heating: Oil, Baseboard, Electric, Heat Pump
Cooling: Mini Split
Total Refrigerators: 4
Total Stories: 2
Total Water Heaters: 2

Multi Family

Multi-Family Information

Total Units: 4
Total 1 BR Units: 2

Total 2 BR Units: 0
Total 3+ BR Units: 1

Unit Information

Unit 1

Unit 1 Baths: 1
Unit 1 Bedrooms: 3

Unit 1 Lease Term: Month to Month
Unit 1 Level Number: 1st Floor
Unit 1 Rooms: 6
Unit 1 Tenant Pays: Electric, Heat, Internet Service
Unit 1 Info: Appliances Included, Dishwasher, Hot Water, Laundry Hookup

Unit 2

Unit 2 Lease Term: Month to Month
Unit 2 Baths: 1

Unit 2 Rooms: 3
Unit 2 Level Number: 2nd Floor
Unit 2 Bedrooms: 1
Unit 2 Info: Appliances Included, Hot Water, Electric Range, Refrigerator
Unit 2 Tenant Pays: Electric, Heat, Internet Service

Unit 3

Unit 3 Lease Term: Month to Month
Unit 3 Baths: 1

Unit 3 Rooms: 1
Unit 3 Level Number: 2nd Floor
Unit 3 Info: Air Conditioner, Appliances Included, Deck, Hot Water
Unit 3 Tenant Pays: Electric, Heat, Internet Service

Unit 4

Unit 4 Lease Term: Month to Month
Unit 4 Level Number: 2nd Floor

Unit 4 Rooms: 3
Unit 4 Baths: 1
Unit 4 Bedrooms: 1
Unit 4 Info: Air Conditioner, Appliances Included, Hot Water, Microwave
Unit 4 Tenant Pays: Electric, Heat, Internet Service

Property History for 40 South Main Street

Date	Event & Source	Price	Appreciation
Jun 28, 2026	Listed (Active) New England Real Estate Network #5097369	$499,000	—
Aug 4, 2022	Sold (Public Record) Public Record #1495507175	$360,000	—
Aug 4, 2022	Sold New England Real Estate Network #4905437	$360,000	—
May 19, 2022	Pending New England Real Estate Network #4905437		—
Apr 16, 2022	Listed (Active) New England Real Estate Network #4905437	$360,000	—

Date	Event & Source	Price
06/28/2026	Listed (Active) New England Real Estate Network #5097369	$499,000
08/04/2022	Sold (Public Record) Public Record #1495507175	$360,000
08/04/2022	Sold New England Real Estate Network #4905437	$360,000
05/19/2022	Pending New England Real Estate Network #4905437	—
04/16/2022	Listed (Active) New England Real Estate Network #4905437	$360,000

For completeness, we often displays two records for one sale: the MLS record and the public record.

Public Records for 40 South Main Street

Taxable ValueLand$32,100Additions$136,400Total$168,500

Tax Record2025$3,248 ($271 / month)

Home Facts

Beds0Lot Size8,276 SqFtStyleSingle Family ResidenceCountyRUTLANDAPN(170) 10213

Schools near 40 South Main Street

This home is within Rutland City School District.


Rating	School	Type	Grades	Distance
4/10	Rutland Intermediate School	Public - Serves this home	3 to 6	0.7 mi
3/10	Rutland Middle School	Public - Serves this home	7 to 8	0.7 mi
8/10	Rutland Senior High School	Public - Serves this home	9 to 12	1.2 mi
NR	Rutland Northeast Primary School	Public - Choice school	PK to 2	0.9 mi
NR	Rutland Northwest School	Public - Choice school	PK to 2	1.1 mi
NR	Stafford Technical Center	Public - Choice school	9 to 12	1.2 mi
NR	Christ The King School	Private - Nearby school	PK to 8	0.1 mi
NR	Easter Seals Of Vermont	Private - Nearby school	10 to 11	0.6 mi
NR	Rutland Academy	Private - Nearby school	8 to 12	0.6 mi


Rating	School	Distance
4/10	Rutland Intermediate School Public3 to 6 Serves this home	0.7 mi
3/10	Rutland Middle School Public7 to 8 Serves this home	0.7 mi
8/10	Rutland Senior High School Public9 to 12 Serves this home	1.2 mi
NR	Rutland Northeast Primary School PublicPK to 2 Choice school	0.9 mi
NR	Rutland Northwest School PublicPK to 2 Choice school	1.1 mi
NR	Stafford Technical Center Public9 to 12 Choice school	1.2 mi
NR	Christ The King School PrivatePK to 8 Nearby school	0.1 mi
NR	Easter Seals Of Vermont Private10 to 11 Nearby school	0.6 mi
NR	Rutland Academy Private8 to 12 Nearby school	0.6 mi

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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More information about 40 South Main Street, Rutland, VT 05701

40 South Main Street is a multi-family home for sale in Rutland, VT 05701. This property was listed for sale on June 28, 2026 by Watson Realty & Associates, it's currently listed at $499,000. It has been on the market for a total of 98 days and was last sold on August 4, 2022. This listing's school district is Rutland City School District. Nearby schools include Rutland Intermediate School, Rutland Middle School and Rutland Senior High School. 40 South Main Street is a 5-bed, 4-bath, 3,800 sqft multi-family home built in 1900.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of any information, descriptions or measurements (including square footage measurements and property condition), such should be independently verified through appropriate means, including, but not limited to, in person inspection and public records, and Compass International Holdings, its subsidiaries, affiliates and independently owned and operated franchisees, and their affiliated agents and associated third parties expressly disclaim any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the seller's discretion. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Watson Realty & Associates

Copyright 2026 PrimeMLS, Inc. All rights reserved. This information is deemed reliable, but not guaranteed. The data relating to real estate displayed on this Site 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. Data last updated 10/04/2026 03:28 PM

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More information about 40 South Main Street, Rutland, VT 05701