16 School St · Brattleboro, VT 05301

$499,000

12 bd · 6.0 ba · 2,564 sqft · MultiFamily public records · 19 Days on market

Built 1900 5,662 sqft lot ↓ 10% since listing

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 6 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Fantastic rental opportunity available for the first time in over 30 years! All well maintained two bedroom units in this sturdy apartment building. Located in close proximity to shops, schools, downtown parking and hospitals. Currently operating at a 8.5% cap rate with only room for improvements. This cash cow is a great investment in a great location!

Key facts

• Off-street parking
• Coded keyless entry
• 5,662 sq ft lot

Tags

• 6-UNIT MULTIFAMILY BUILDING
• FULLY STABILIZED CASH FLOW
• OFF-STREET PARKING
• CODED KEYLESS ENTRY

Property features AI

Finance

• Financial info: Net income reported: $33,756.41; Operating expenses may include heat, insurance, maintenance, management, snow removal, trash, utilities, water and water/sewer

Exterior

• Parking: Paved driveway
• Utilities: Public water; Public sewer; 100 Amp electric service; Cable internet available; Fuel service by Dead River
• Home design: Apartment building; Existing structure; Built in 1900
• Construction: Wood frame with brick exterior; Metal and asphalt shingle roofs; Built in 1900
• Exterior features: City lot, level; Paved driveway; Paved road frontage

Interior

• Bedrooms: Six 2-bedroom units
• Bathrooms: Six full bathrooms
• Heating & cooling: Oil-fired hot water heating; No central air
• Interior features: Full, unfinished basement with interior access

What this means for you Summary

Snapshot

• This is a 6 × 2-bed/1.0-bath units multifamily listed at $499k.

Deal economics

• At list price, monthly cash flow is $5k ($58k/yr) — positive. Per door: $810/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($10k rent vs $499k).
• Recommended offer: $492k (1.5% below list) — sets the bar for market timing.
• Cap rate 18.0% vs local median 4.5% in Brattleboro — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 67/100 on livability (#42 in VT) — a middle-class / working-renter tenant base. Strengths: schools A+, health & safety A+, cost of living B; Watch: crime F, amenities D-, commute F.
• Market conditions: 80 active listings in the ZIP; 188 units permitted in Windham County in 2024 (0 in 5+ unit buildings).
• At $10,250/mo this rent would consume 187% of the median local household income ($66k/yr) (locally 594% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $15k of value loss. Plan a longer hold.
• Windham County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $140k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($492k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y ago; this cycle's ask has dropped $41k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $491,515 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are A-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?
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. 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.
8. 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.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 2.05% ✓
• Cap rate: 17.99%
• Cash-on-cash: 41.76%
• DSCR: 2.86
• GRM: 4.1

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: 38.4%
• Equity multiple: 2.64×
• Total profit: $228,861
• Equity at exit: $74,403

10-year hold

• IRR: 44.9%
• Equity multiple: 5.28×
• Total profit: $598,169
• Equity at exit: $43,144

Cash invested: $139,720 (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 05301

• Home prices YoY: -19.2%
• Active inventory: 80
• Price-to-rent: 24.3×

Monthly cashflow live

• Estimated rent: $10,250 medium
• Mortgage (P&I): −$2,617
• Tax from tax record: −$410 /mo · $4,923/yr
• Insurance: −$208
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,152
• Net cashflow: $4,863

Break-even live

Break-even rent $4,095

Max offer price $499,000

Occupancy floor 48%

Sensitivity live

Price	-10% $5,145	-5% $5,004	+0% $4,863	+5% $4,721	+10% $4,580
Rent	-10% $4,053	-5% $4,458	+0% $4,863	+5% $5,267	+10% $5,672
Rate	-1.0pp $5,114	-0.5pp $4,989	base $4,863	+0.5pp $4,733	+1.0pp $4,602

6-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 6× units	2	1	$10,248
Total (6 units)			$10,250

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: $124,750
• Closing costs: $14,970
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-21
   days on market $499,000 Active 19 DOM
2. 2026-06-18
   days on market $499,000 Active 16 DOM
3. 2026-06-17
   days on market $499,000 Active 15 DOM
4. 2026-06-16
   pricedays on market $499,000 Active 14 DOM
5. 2026-06-15
   days on market $540,000 Active 13 DOM
6. 2026-06-14
   days on market $540,000 Active 11 DOM
7. 2026-06-13
   days on market $540,000 Active 10 DOM
8. 2026-06-10
   days on market $540,000 Active 8 DOM
9. 2026-06-09
   days on market $540,000 Active 7 DOM
10. 2026-06-08
    days on market $540,000 Active 6 DOM
11. 2026-06-07
    days on market $540,000 Active 5 DOM
12. 2026-06-03
    remarks 695-char remark
13. 2026-06-03
    listed $540,000 Active 1 DOM

ⓘ 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: $4,923 · $410/mo
• Projected year-2 tax: $7,202 · $600/mo
• Expected delta: +$2,279/yr (+$190/mo · 46.3%)

ⓘ 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 1/10 Low
• 🌡 Heat 3/10 Moderate 8 d/yr ≥94°F today · 18 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 9% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $123,000
• − Mortgage interest: −$27,952
• − Property taxes: −$4,923
• − Insurance: −$2,495
• − Repairs & maintenance: −$9,840
• − Management: −$9,840
• − Depreciation: −$14,516
• Taxable income: $53,434
• Est. tax owed @ 24.0%: −$12,824
• After-tax cash flow: $45,526/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 — Brattleboro

• Score: 67/100
• State rank: #42
• US rank: #10223

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Brattleboro, VT
• County: Windham County · 16,955 people
• City population: 16,955
• Metro: nan
• Population (ZIP): 16,955
• Household income: $65,910
• Rent vs Own: 34.4% rent · 65.6% own
• Severe rent burden: 594.0

Population outlook (Windham County) Hauer SSP2

• Today (2025): 40,432 people
• By 2030: 38,472 · -4.8%
• By 2040: 33,954 · -16.0%
• By 2050: 29,774 · -26.4%
• By 2075: 22,351 · -44.7%
• By 2100: 15,961 · -60.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 6% Hispanic / Latino 3% Asian 2%
• Common ancestry: Lithuanian 7% Romanian 5% Italian 4%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2% Other Asian/Pacific 1%

Political lean MEDSL · Windham

• 2024 margin: Solid D (+42.7) · D 69.6% · R 26.9% · Other 3.5%
• 2008→2024 swing: -5.4pp toward R · 2008: 48.1pp · 2024: 42.7pp
• All cycles: 2024: D+42.7 2020: D+47.3 2016: D+42.0 2012: D+49.2 2008: D+48.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -67.19%
• Current HPI: 283.2338
• Rent YoY: —
• Metro: nan
• State GDP YoY: —
• F500 in state: 0

Price history

-10.0% since first listed

7 events — show timeline

• 2026-05-29 Listed $540,000 PrimeMLS
• 2022-11-07 Sold (Public Records) $500,000 Public Records
• 2022-11-03 Sold (MLS) $500,000 PrimeMLS
• 2022-09-29 Contingent — PrimeMLS
• 2022-07-07 Price Changed $570,000 PrimeMLS
• 2022-05-28 Price Changed $585,000 PrimeMLS
• 2022-04-13 Listed $600,000 PrimeMLS

Property tax history

-3.9%/yr

Latest (2024): $4,923 · +11.7% YoY. Source: county tax records.