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371 River Street, Montpelier, VT, 05602 | $349,000
Tax bill dropped almost $3k this tax year! Unique property with many possibilities. It has an amazing 300 ft of road frontage and exposure. Live in the home and have the storage units pay your expenses. Or rent the house to tenants or a business to add to the income from the storage units. This property just went through a change of use permit (attached) from Commercial to Residential zoning. The very well maintained 1934 three-bedroom, one bathroom cape home has been getting $3, 600. /month with all utilities included for three tenants paying weekly. The home has been an office building for several businesses in the past. The home has hardwood floors, a main floor bedroom, living room, mud room, den, dining room, closet with stackable laundry unit, kitchen with back door access and an updated bathroom. The house does not have direct entry to the basement that is accessed by a private locked door in the lower parking area of the circular paved driveway. There are 4 inside locked storage units in the basement that bring in $240/month total. Next to the house, there are 11 storage units in a single building and they are of varying sizes. That building currently generates $755/month. All units are likely to be charging under market rates, but there are many long term renters.
Features
- Parking: Off Street,Parking Spaces 6+,Paved
- Heating: Hot Air
- Zoning: Residential, Eastern Gtwy
- Frontage: 300
- Year Built: 1934
- Acreage: 1.12
- Est. Taxes: $9,448
- MLS#: 5040674
- Website: https://www.raveis.com
/prop/5040674/371riverstreet_montpelier_vt?source=qrflyer
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 PrimMLS. 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 2/14/2026Listing courtesy of BHHS Vermont Realty Group/Montpelier Phone: 802-223-6302
Listing Agent: Martha Lange
William Raveis Family of Services
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Frank KolbSenior Vice President - Coaching & Strategic, William Raveis Mortgage, LLC
NMLS Mortgage Loan Originator ID 81725
203.980.8025
Frank.Kolb@raveis.com
Our Executive Mortgage Banker:
- Is available to meet with you in our office, your home or office, evenings or weekends
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Joel FanjoyRegional SVP Insurance Sales, William Raveis Insurance
617.320.5687
Joel.Fanjoy@raveis.com
Our Insurance Division:
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Encompass, Travelers, Fireman's Fund, Middleoak Mutual, One Beacon and American Reliable
371 River Street, Montpelier, VT, 05602
$349,000
Customer Service
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
Frank Kolb
Senior Vice President - Coaching & Strategic
William Raveis Mortgage, LLC
Phone: 203.980.8025
Frank.Kolb@raveis.com
NMLS Mortgage Loan Originator ID 81725
|
5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
|---|---|---|---|
| Loan Amount | $279,200 | $279,200 | $279,200 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.375% | 5.990% | 5.125% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.137% | 6.132% | 5.396% |
| Monthly Tax Payment | $787 | $787 | $787 |
| H/O Insurance Payment | $75 | $75 | $75 |
| Initial Principal & Interest Pmt | $1,563 | $1,672 | $2,226 |
| Total Monthly Payment | $2,425 | $2,534 | $3,088 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.
William Raveis Mortgage, LLC, NMLS ID 2630, 7 Trap Falls Road, Shelton, CT 06484