240 Katy-Win Rd

Johnson, VT 05656

$134,900C

3 bd · 1.5 ba · 938 sqft · Built 1979 · Manufactured · Active · 28 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,400/mo
• Mortgage (P&I): −$707
• Tax + insurance: −$225
• HOA: −$0
• Vac / Maint / Mgmt: −$294
• Net cashflow: $174/mo
• Annual: $2,085/yr
• Cap rate: 7.84%
• Cash-on-cash: 5.52%
• DSCR: 1.25
• 1% rule: 1.04%
• Cash to close: $37,772

Investor read

• This is a 3-bed/1.5-bath manufactured listed at $135k.
• At list price, monthly cash flow is $174 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $135k).
• It's been on market 28 days — a 2% lower offer ($133k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $133k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 54/100 on livability (#114 in VT) — a working-class tenant base; expect higher turnover. Strengths: crime A, cost of living A; Watch: amenities F, commute F, employment F.
• Zoned schools: Johnson Elementary School (math 27% / reading 32%, grade F, #141 of 192 statewide, top 77%, 217 students, 49% FRL).
• Market conditions: 17 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 133 units permitted in Lamoille County in 2024 (15 in 5+ unit buildings).
• Lamoille County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• Current owner paid $6k; list at $135k implies a 2148% gain — meaningful room to come down on a strong offer.

Questions for listing agent

• Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
• What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
• How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.