40 S Main St

Rutland, VT 05701

$499,000
Price
5
Beds
3,800 Sq. Ft.
$131 / Sq. Ft.
3,800
Sq. Ft.
$131
per Sq. Ft.
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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!
  1. Listed by Nancy Greenwood • Watson Realty & Associates
  2. Listed by Max Walker • Watson Realty & Associates

Property Details for 40 South Main Street

Zoning
RESD 1
LISTING UPDATED: 06/30/2026 04:01 PM

Property Details for 40 South Main Street

StatusActive
MLS #5097369
Days on Market3
Taxes$6,876 / year
HOA Fees-
Condo/Co-op Fees-
Property TypeMulti Family
MLS TypeMulti Family
Year Built1900
Lot Size0.19 AC / 8,276 SF
CountyRutland County
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Location

Listing Courtesy of Watson Realty & Associates
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Building Information for 40 South Main Street

Stories2Residences4Year Built1900Building Size-Lot Size0.19 AC / 8,276 SF

Payment Calculator

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$3,060 per month

30 year fixed, 6.36% Interest

Principal and Interest

$2,487

Property Taxes

$573

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

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Property Information for 40 South Main Street

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
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
  • Construction Status: Existing
  • 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

DateEvent & SourcePriceAppreciation
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—
DateEvent & SourcePrice
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

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
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
Rutland Intermediate School
Public - 3 to 6
Rutland Middle School
Public - 7 to 8
Rutland Senior High School
Public - 9 to 12
Rutland Northeast Primary School
Public - PK to 2
Rating
School
Distance
Rutland Intermediate School
Public3 to 6

Rutland Middle School
Public7 to 8

Rutland Senior High School
Public9 to 12

Rutland Northeast Primary School
PublicPK to 2

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 3 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 07/01/2026 09:13 PM