184 South St · Springfield, VT 05156

$179,900

2 bd · 2.0 ba · 944 sqft · Manufactured public records · 90 Days on market

Built 1988 8,276 sqft lot Est $159k · 13% over

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Why this score? — see what drove the D- 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 +14.3/30.0
• Schools +5.0/10.0
• DSCR +4.4/10.0
• Livability +3.7/5.0
• 1% rule +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +1.5/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

You will be amazed when you see the condition of this older 1988 mobile home. The owners have maintained it meticulously since they moved it to this location in 2006. Walking distance to the high school and downtown, and near the Springfield hospital as well. There is a large bedroom on each end of the structure, each with a full bath. This would be a perfect property for anyone needing one level living with no stairs to enter, since there is a nice long ramp on the front. In the back there is a nice spacious fenced in area for small children or a dog. A nice garage will give the homeowner space for two vehicles plus storage space since there is a second level. Take a look today!

Key facts

• One level living
• 8,276 sq ft lot
• 2 garage spots

Tags

• WALKING DISTANCE TO DOWNTOWN
• NEAR SPRINGFIELD HOSPITAL
• ONE LEVEL LIVING
• SPACIOUS FENCED IN AREA

Property features AI

Exterior

• Parking: 2-car garage
• Utilities: Public water; Public sewer; 100 Amp electrical service with circuit breakers; Fiber optic internet available; Cable available; Telephone service available
• Home design: Manufactured / Mobile home; Existing construction
• Construction: Built in 1988; Combination exterior materials; Metal roof
• Exterior features: Corner lot; Level lot; In-town location; Neighborhood setting; Near schools; Paved driveway; Paved road frontage (approximately 150 feet)

Interior

• Bathrooms: Two full bathrooms
• Heating & cooling: Oil heat; Hot air heating
• Interior features: Four total rooms

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $180k.

Deal economics

• At list price, monthly cash flow is $33 ($400/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $142k (20.9% below list).
• Recommended offer: $142k (20.9% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 5.1% in Springfield — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 73/100 on livability (#21 in VT) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime A; Watch: amenities F, commute F, employment F.
• Zoned schools: Elm Hill School (390 students, 47% FRL); Riverside Middle School (math 12% / reading 32%, grade F, #24 of 26 statewide, top 92%, 254 students, 57% FRL); Springfield High School (math 22% / reading 37%, grade F, #35 of 48 statewide, top 79%, 325 students, 46% FRL).
• Market conditions: 51 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 339 units permitted in Windsor County in 2024 (240 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Windsor County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 90 days — a 6% lower offer ($169k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 24y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $8k; list at $180k implies a 2177% gain — meaningful room to come down on a strong offer.

Recommended offer $142,317 (20.9% below list)

Questions for the listing agent

1. It's been on market 90 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.79% ✗
• Cap rate: 6.52%
• Cash-on-cash: 0.79%
• DSCR: 1.04
• GRM: 10.5

CMA / ARV

• ARV (on-the-fly): $158,592
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
75 White St	0.28mi	2/1.0	936 (-1%)	7mo	$35,000	$37	76
135 Stanley Rd	0.35mi	3/1.0 (+1)	980 (+4%)	13mo	$165,000	$168	57

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -15.1%
• Equity multiple: 0.46×
• Total profit: $-27,102
• Equity at exit: $26,824

10-year hold

• IRR: -6.6%
• Equity multiple: 0.58×
• Total profit: $-21,161
• Equity at exit: $15,554

Cash invested: $50,372 (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 05156

• Home prices YoY: -12.2%
• Active inventory: 51
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $1,423 medium
• Mortgage (P&I): −$943
• Tax from tax record: −$73 /mo · $871/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$299
• Net cashflow: $33

Break-even live

Break-even rent $1,381

Max offer price $179,900

Occupancy floor 93%

Sensitivity live

Price	-10% $135	-5% $84	+0% $33	+5% $-18	+10% $-69
Rent	-10% $-79	-5% $-23	+0% $33	+5% $90	+10% $146
Rate	-1.0pp $124	-0.5pp $79	base $33	+0.5pp $-13	+1.0pp $-61

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
201 Union St Unit 201C Springfield, VT	1.0	1.0	650	$1,600	$2.46	45d	1	0.33mi
104 Park St Unit 1 Springfield, VT	1.0	1.0	800	$1,089	$1.36	45d	1	0.94mi
104 Park St Apt 4 Springfield, VT	2.0	1.0	950	$1,362	$1.43	45d	1	0.94mi

Listing history 26 events

1. 2026-06-19
   days on market $179,900 Active 90 DOM
2. 2026-06-18
   days on market $179,900 Active 89 DOM
3. 2026-06-17
   days on market $179,900 Active 88 DOM
4. 2026-06-16
   days on market $179,900 Active 87 DOM
5. 2026-06-15
   days on market $179,900 Active 86 DOM
6. 2026-06-14
   days on market $179,900 Active 84 DOM
7. 2026-06-12
   days on market $179,900 Active 83 DOM
8. 2026-06-09
   days on market $179,900 Active 80 DOM
9. 2026-06-08
   days on market $179,900 Active 79 DOM
10. 2026-06-07
    days on market $179,900 Active 78 DOM
11. 2026-06-05
    remarks 699-char remark
12. 2026-06-05
    pricedays on market $179,900 Active 75 DOM
13. 2026-06-02
    days on market $185,000 Active 73 DOM
14. 2026-06-01
    days on market $185,000 Active 72 DOM
15. 2026-05-31
    days on market $185,000 Active 71 DOM
16. 2026-05-30
    days on market $185,000 Active 70 DOM
17. 2026-04-21
    historical Active with Contract 688-char remark

    Show marketing remark (688 chars)

    You will be amazed when you see the condition of this older 1988 mobile home. The owners have maintained it meticulously since they moved it to this location in 2006. Walking distance to the high school and downtown, and near the Springfield hospital as well. There is a large bedroom on each end of the structure, each with a full bath. This would be a perfect property for anyone needing one level living with no stairs to enter, since there is a nice long ramp on the front. In the back there is a nice spacious fenced in area for small children or a dog. A nice garage will give the homeowner space for two vehicles plus storage space since there is a second level. Take a look today!

18. 2026-04-21
    historical Active with Contract

    Show marketing remark (688 chars)

    You will be amazed when you see the condition of this older 1988 mobile home. The owners have maintained it meticulously since they moved it to this location in 2006. Walking distance to the high school and downtown, and near the Springfield hospital as well. There is a large bedroom on each end of the structure, each with a full bath. This would be a perfect property for anyone needing one level living with no stairs to enter, since there is a nice long ramp on the front. In the back there is a nice spacious fenced in area for small children or a dog. A nice garage will give the homeowner space for two vehicles plus storage space since there is a second level. Take a look today!

19. 2026-03-21
    listed $185,000 Active 688-char remark

    Show marketing remark (688 chars)

    You will be amazed when you see the condition of this older 1988 mobile home. The owners have maintained it meticulously since they moved it to this location in 2006. Walking distance to the high school and downtown, and near the Springfield hospital as well. There is a large bedroom on each end of the structure, each with a full bath. This would be a perfect property for anyone needing one level living with no stairs to enter, since there is a nice long ramp on the front. In the back there is a nice spacious fenced in area for small children or a dog. A nice garage will give the homeowner space for two vehicles plus storage space since there is a second level. Take a look today!

20. 2026-03-21
    listed $185,000 Active

    Show marketing remark (688 chars)

    You will be amazed when you see the condition of this older 1988 mobile home. The owners have maintained it meticulously since they moved it to this location in 2006. Walking distance to the high school and downtown, and near the Springfield hospital as well. There is a large bedroom on each end of the structure, each with a full bath. This would be a perfect property for anyone needing one level living with no stairs to enter, since there is a nice long ramp on the front. In the back there is a nice spacious fenced in area for small children or a dog. A nice garage will give the homeowner space for two vehicles plus storage space since there is a second level. Take a look today!

21. 2005-07-18
    soldstatus $7,900
22. 2005-02-09
    soldstatus $50,000
23. 2005-02-03
    soldstatus $50,000 177-char remark

    Show marketing remark (177 chars)

    Springfield: Neat and tidy 2 bedroom mobile home on a nice corner lot with village amenities. Enjoy the 12x14 livingroom, eat-in kitchen, patio area and a detached 2-car garage.

24. 2004-07-15
    listed $59,500 177-char remark

    Show marketing remark (177 chars)

    Springfield: Neat and tidy 2 bedroom mobile home on a nice corner lot with village amenities. Enjoy the 12x14 livingroom, eat-in kitchen, patio area and a detached 2-car garage.

25. 2002-10-10
    soldstatus $39,000
26. 2002-05-06
    listed $42,000

ⓘ 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: $871 · $73/mo
• Projected year-2 tax: $2,145 · $179/mo
• Expected delta: +$1,273/yr (+$106/mo · 146.1%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 17 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 6% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,078
• − Mortgage interest: −$10,077
• − Property taxes: −$871
• − Insurance: −$900
• − Repairs & maintenance: −$1,366
• − Management: −$1,366
• − Depreciation: −$5,233
• Taxable loss: −$2,736
• Est. tax savings @ 24.0%: +$657
• After-tax cash flow: $1,056/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 — Springfield

• Score: 73/100
• State rank: #21
• US rank: #5125

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Springfield, VT
• Population (ZIP): 9,028

Population outlook (Windsor County) Hauer SSP2

• Today (2025): 53,235 people
• By 2030: 51,269 · -3.7%
• By 2040: 46,517 · -12.6%
• By 2050: 41,859 · -21.4%
• By 2075: 33,298 · -37.5%
• By 2100: 24,523 · -53.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Lithuanian 13% Romanian 4% Serbian 3%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2% French/Haitian/Cajun 1%

Political lean MEDSL · Windsor

• 2024 margin: Solid D (+35.6) · D 66.3% · R 30.7% · Other 2.9%
• 2008→2024 swing: -4.1pp toward R · 2008: 39.7pp · 2024: 35.6pp
• All cycles: 2024: D+35.6 2020: D+38.9 2016: D+32.1 2012: D+38.1 2008: D+39.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -43.22%
• Current HPI: 310.0154
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+340.5% since first listed

10 events — show timeline

• 2026-04-21 Contingent — PrimeMLS
• 2026-04-21 Contingent — PrimeMLS
• 2026-03-21 Listed $185,000 PrimeMLS
• 2026-03-21 Listed $185,000 PrimeMLS
• 2005-07-18 Sold (Public Records) $7,900 Public Records
• 2005-02-09 Sold (Public Records) $50,000 Public Records
• 2005-02-03 Sold (MLS) $50,000 PrimeMLS
• 2004-07-15 Listed $59,500 PrimeMLS
• 2002-10-10 Sold (MLS) $39,000 PrimeMLS
• 2002-05-06 Listed $42,000 PrimeMLS

Property tax history

+5.0%/yr

Latest (2024): $871 · +5.8% YoY. Source: county tax records.