Burlington does not have many houses for sale, and the ones that need work are usually old: balloon-frame walls, plaster, knob-and-tube wiring, stone foundations and lead paint. That combination keeps flippers few and margins real for the ones who know how to handle it.
In short: LendingStreet funds fix and flip loans on 1-8 unit investment properties in Burlington and Chittenden County from $150,000 to $5M+. Some programs cover up to 90% of total cost and up to 100% of the rehab budget, with interest-only payments and closings in as little as 10 days. You exit by selling or by refinancing into a DSCR rental loan.
In the New North End, typical projects are 1950s and 1960s capes and ranches that need kitchens, baths, insulation and sometimes a heating system. In the South End and Old North End, flips are older houses with deeper needs: wiring, plumbing, foundations, lead-safe work and layout changes. In South Burlington, Essex and Colchester, flips are often dated 1970s and 1980s homes and condos.
Buyers for finished homes include local families, UVM Medical Center staff and people relocating to Vermont. Inventory is thin, so a well-finished house tends to draw attention, but buyers also notice shortcuts in old houses.
Finished homes in the New North End and South End tend to sell to buyers who value energy efficiency, updated systems and a usable basement. Matching your scope to those expectations matters more than high-end finishes.
| Area | Common project | Watch for |
|---|---|---|
| New North End | Cape or ranch update, insulation | Heating system, basement moisture |
| Old North End, South End | Systems overhaul in older house | Lead paint, wiring, foundation |
| South Burlington, Essex, Colchester | 1970s-80s home or condo refresh | Association rules, dated systems |
Almost every older Burlington house has lead paint somewhere. Renovation that disturbs painted surfaces in pre-1978 housing has to follow federal lead-safe work rules, which means certified contractors, containment and cleanup. If you ever rent the house, Vermont's Essential Maintenance Practices apply as well.
Build lead-safe practices into your budget and timeline from the start. Window replacement, siding work and interior demolition all take longer when done properly, and the cost is part of doing business in this housing stock.
Opening walls in a Burlington house often reveals knob-and-tube wiring, undersized framing, missing insulation or old oil tanks. Plan a contingency of real size, and have your electrician and plumber walk the house before you close. A sewer camera inspection and a look at the foundation are worth the small cost.
This example is illustrative and not a quote. An investor buys a 1950s cape in the New North End for $335,000. The $88,000 rehab covers a kitchen, two baths, insulation and air sealing, a new heating system, electrical updates and finishes. Total cost is $423,000, and at 90% of cost the loan is $380,700.
Estimated interest-only payments at full draw are about $3,331 a month, and taxes and insurance add about $790. Over 7 months, carrying costs are about $28,848. If the house sells for $525,000 with about $31,500 in selling costs and about $8,000 in other closing costs, the estimated profit is about $33,652.
| Item | Amount |
|---|---|
| Purchase price | $335,000 |
| Rehab budget | $88,000 |
| Loan at 90% of cost | $380,700 |
| Investor cash before closing costs | $42,300 |
| Carrying costs, 7 months | $28,848 |
| Sale price | $525,000 |
| Estimated profit | $33,652 |
Burlington's permitting office handles building, electrical, plumbing and zoning permits. Exterior changes in certain areas, changes to the number of units, and work on historic buildings can need additional review. Plan your permit timeline before you set your draw schedule, and keep inspection approvals with your draw requests.
Vermont's property transfer tax is paid by the buyer at closing, so it affects your purchase costs on the way in rather than your sale.
Exterior work on buildings in historic districts or on properties with design review can take longer to approve. If you plan new windows, siding or porch work on an older South End or Hill Section house, confirm the review process before you order materials.
Interior work continues through Burlington winters, but exterior projects like roofing, siding and foundation repair are best done from spring to fall. Energy upgrades such as insulation, air sealing and heat pumps add value in this market, and some utility programs offer incentives; check what is available when you plan the scope.
Some Burlington rehabs make more sense as rentals, especially small multi-units near the hospital or UVM. Once the work is finished and the units are leased, a DSCR loan can refinance the short-term loan using the combined rent. Run both exits before you buy.
Rents for renovated two- and three-bedroom units near the hospital and UVM are usually easy to support with comparable leases, which makes the rental exit more reliable here than in many markets. Run the full payment at the non-homestead tax rate to be sure.
With few sales in Burlington each month, comparable sales can be thin. Use recent sales of renovated homes in the same neighborhood, of similar size, age and style, and be ready to explain adjustments. A renovated cape in the New North End tells a better story than a newer house in South Burlington.
Keep a record of the work you have done, with permits, photos and invoices. Buyers in Burlington ask about wiring, heating systems and insulation in older homes, and a clean file supports both your list price and the appraisal on the buyer's side.
If the after-repair value looks tight, simplify the scope rather than stretching the budget. In a thin market, a well-priced, solid house usually sells faster than an over-improved one.
Send the contract, budget, photos and comparable sales through the form below or call (877) 298-1001. Our investor loans are business-purpose loans on non-owner-occupied property. See our Vermont fix and flip page for statewide notes.
In as little as 10 days with a clean file: contract, budget, title and insurance in place.
Yes. Some programs fund up to 100% of the rehab budget, released in draws after inspection, within the 90% of total cost limit.
For renovation that disturbs paint in pre-1978 housing, yes. Federal lead-safe rules apply, and Vermont's maintenance rules apply if the home is rented.
The buyer, at closing. Include it in your purchase costs and confirm the current rate.
Yes, if it is an investment property and the association allows it. Check association rules and any rental limits.
A meaningful one. Older Burlington houses often hide wiring, framing and foundation issues that only show up once walls are open.
You can refinance into a DSCR loan if the rent covers the payment at the program minimum.
No. Our investor loans are business-purpose loans on non-owner-occupied property.
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