376 W Highland Dr · Johnson, VT 05656

$132,500

3 bd · 2.0 ba · 1,064 sqft · Manufactured public records · 300 Days on market

Built 2017 ↓ 12% since listing

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Why this score? — see what drove the C+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +23.5/30.0
• DSCR +7.6/10.0
• ARV discount +7.5/15.0
• 1% rule +5.6/10.0
• Schools +5.0/10.0
• Appreciation +3.2/10.0
• Livability +2.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Setting up on the hill of Highland Height's Mobile home park awaits this move in ready 3 bedroom, 2 bath mobile home with attached 1 car garage!! All this on a beautifully landscaped corner lot on quiet dead end street.

Key facts

• Garage
• Built 2017
• Listed 299 days

Tags

• LANDSCAPED CORNER LOT
• QUIET DEAD END STREET

Property features AI

Finance

• Other: Mobile make: Atlantic Essentials; model: F-27603 Custom
• HOA & community: Located in Highland Heights Mobile park (park approved)

Exterior

• Parking: Detached or on-site garage with capacity for 1 car
• Utilities: Community water; Community sewer; Circuit breaker electrical service; High-speed internet available on site; LP/bottle gas
• Home design: Manufactured/mobile home; Tan exterior; Shingle (asphalt) roof; Located in a mobile home park (Highland Heights Mobile) with park approval
• Construction: Built in 2017; Steel frame construction; Vinyl exterior
• Exterior features: Corner lot; Country setting; Landscaped; Gravel driveway

Interior

• Kitchen: Dishwasher; Gas stove; Microwave; Refrigerator
• Bedrooms: Master bedroom suite (main level); Two additional bedrooms (main level)
• Flooring: Carpet; Laminate
• Bathrooms: One full bath (main level); One 3/4 bath (main level)
• Heating & cooling: Forced air heating
• Interior features: Five total rooms; Kitchen/Dining open area; Living room
• Laundry & utility: Washer; Dryer; Electric water heater (owned)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $132k.

Deal economics

• At list price, monthly cash flow is $193 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $132k).
• Recommended offer: $117k (12.0% below list) — sets the bar for market timing.

Location & tenants

• 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: schools F, amenities F, commute F.
• Market conditions: 18 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $916 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Lamoille County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 300 days — a 12% lower offer ($117k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $116,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 300 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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.

Investment metrics

• 1% rule: 1.06% ✓
• Cap rate: 8.54%
• Cash-on-cash: 8.04%
• DSCR: 1.36
• GRM: 7.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -6.7%
• Equity multiple: 0.75×
• Total profit: $-9,164
• Equity at exit: $19,756

10-year hold

• IRR: 3.0%
• Equity multiple: 1.21×
• Total profit: $7,921
• Equity at exit: $11,456

Cash invested: $37,100 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 41 Moderately Tenant-Leaning
• State Vermont: 41 Moderately Tenant-Leaning · D+15
• County: — inherits STATE
• City: — inherits STATE

Just-cause in Burlington (2022); strong habitability.

Methodology + full state rankings →

ZIP-level market 05656

• Home prices YoY: -1.2%
• Active inventory: 18
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,400 medium
• Mortgage (P&I): −$695
• Tax from tax record: −$107 /mo · $1,290/yr
• Insurance: −$55
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$294
• Net cashflow: $193

Break-even live

Break-even rent $1,156

Max offer price $132,500

Occupancy floor 81%

Sensitivity live

Price	-10% $268	-5% $230	+0% $193	+5% $155	+10% $118
Rent	-10% $82	-5% $138	+0% $193	+5% $248	+10% $304
Rate	-1.0pp $260	-0.5pp $227	base $193	+0.5pp $159	+1.0pp $124

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $33,125
• Closing costs: $3,975
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15 Gihon River Ct Johnson, VT	2.0	1.0	925	$1,400	$1.51	45d	1	1.10mi

Listing history 21 events

1. 2026-06-21
   days on market $132,500 Active 300 DOM
2. 2026-06-21
   days on market $132,500 Active 299 DOM
3. 2026-06-18
   days on market $132,500 Active 297 DOM
4. 2026-06-17
   days on market $132,500 Active 296 DOM
5. 2026-06-16
   days on market $132,500 Active 295 DOM
6. 2026-06-15
   days on market $132,500 Active 294 DOM
7. 2026-06-15
   days on market $132,500 Active 293 DOM
8. 2026-06-13
   days on market $132,500 Active 292 DOM
9. 2026-06-12
   days on market $132,500 Active 291 DOM
10. 2026-06-09
    days on market $132,500 Active 288 DOM
11. 2026-06-08
    days on market $132,500 Active 287 DOM
12. 2026-06-08
    days on market $132,500 Active 286 DOM
13. 2026-06-07
    days on market $132,500 Active 285 DOM
14. 2026-06-03
    days on market $132,500 Active 282 DOM
15. 2026-06-02
    days on market $132,500 Active 281 DOM
16. 2026-06-01
    days on market $132,500 Active 280 DOM
17. 2026-05-31
    days on market $132,500 Active 279 DOM
18. 2026-05-01
    price $132,500
19. 2025-11-11
    price $140,000
20. 2025-10-02
    price $145,000
21. 2025-08-25
    listed $150,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast VT · Partial reset (capped growth)

• Current annual tax: $1,290 · $107/mo
• Projected year-2 tax: $1,904 · $159/mo
• Expected delta: +$614/yr (+$51/mo · 47.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 8 d/yr ≥90°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,800
• − Mortgage interest: −$7,422
• − Property taxes: −$1,290
• − Insurance: −$1,329
• − Repairs & maintenance: −$1,344
• − Management: −$1,344
• − Depreciation: −$3,855
• Taxable income: $217
• Est. tax owed @ 24.0%: −$52
• After-tax cash flow: $2,263/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

No district data.

Livability — Johnson

• Score: 54/100
• State rank: #114
• US rank: #24027

Category grades

Amenities F Commute F Cost of living A Crime A Employment F Housing F Health & safety D- User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 3,475

Population outlook (Lamoille County) Hauer SSP2

• Today (2025): 26,543 people
• By 2030: 27,035 · +1.9%
• By 2040: 27,643 · +4.1%
• By 2050: 27,674 · +4.3%
• By 2075: 27,012 · +1.8%
• By 2100: 24,175 · -8.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Two or more races 5% Hispanic / Latino 4% Black 4%
• Common ancestry: German 5% Lithuanian 4% Slovak 4%
• Foreign-born: 2% · Canada
• Languages at home: 91% English-only · French/Haitian/Cajun 4% German/W. Germanic 2% Spanish 2%

Political lean MEDSL · Lamoille

• 2024 margin: Solid D (+35.8) · D 66.3% · R 30.5% · Other 3.1%
• 2008→2024 swing: -6.8pp toward R · 2008: 42.6pp · 2024: 35.8pp
• All cycles: 2024: D+35.8 2020: D+40.8 2016: D+31.5 2012: D+42.1 2008: D+42.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -3.53%
• Current HPI: 281.5085
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-11.7% since first listed

4 events — show timeline

• 2026-05-01 Price Changed $132,500 PrimeMLS
• 2025-11-11 Price Changed $140,000 PrimeMLS
• 2025-10-02 Price Changed $145,000 PrimeMLS
• 2025-08-25 Listed $150,000 PrimeMLS

Property tax history

-0.2%/yr

Latest (2024): $1,290 · +21.1% YoY. Source: county tax records.