31-33 Hickok Pl · Burlington, VT 05401

$849,000

7 bd · 4.0 ba · 4,243 sqft · MultiFamily · 114 Days on market

Built 1899 Fair condition 6,534 sqft lot $200/sqft · 24% below area Est $1.111M · 24% under ↓ 2% 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 +23.8/30.0
• ARV discount +15.0/15.0
• DSCR +7.7/10.0
• 1% rule +6.2/10.0
• Schools +5.1/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks

Well-maintained 4-unit investment property featuring three 2-bedroom apartments and one 1-bedroom unit. Turn-key multi-family property fully leased through May 2027. Located between UVM Campus and downtown, 31-33 Hickok Place is in an exceptional student rental property in an ideal location. Strong financials with separate heat and electricity paid by the tenants. Plenty of off-street parking, on-site coin-op laundry, and large rear decks all contribute to strong tenant appeal and retention. Expansion opportunity into an amazing attic space provides a rare opportunity for added value and reconfiguration.

Key facts

• Large rear decks
• Investment property
• Off-street parking

Tags

• INVESTMENT PROPERTY
• MULTI-FAMILY PROPERTY
• STUDENT RENTAL PROPERTY
• OFF-STREET PARKING
• ON-SITE COIN-OP LAUNDRY
• LARGE REAR DECKS

What this means for you Summary

Snapshot

• This is a 3×2bd/1ba + 1×1bd/1ba units multifamily listed at $849k. Condition is rated fair.
• This rent per unit runs 43% of the median local income ($66k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Deal economics

• At list price, monthly cash flow is $2k ($20k/yr) — positive. Per door: $407/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($9k rent vs $849k).
• Recommended offer: $773k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.6% vs local median 3.6% in Burlington — 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 74/100 on livability (#19 in VT, #4,619 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, health & safety A+, employment B; Watch: cost of living D, crime F, amenities F.
• Zoned schools: Edmunds Elementary School (math 42% / reading 57%, grade D, #50 of 192 statewide, top 32%, 228 students, 53% FRL); Lyman C. Hunt Middle School (math 34% / reading 47%, grade F, #13 of 26 statewide, top 52%, 337 students, 49% FRL); Burlington High School (math 42% / reading 57%, grade D, #8 of 48 statewide, top 15%, 987 students, 48% FRL).
• Market conditions: 189 active listings in the ZIP; 898 units permitted in Chittenden County in 2024 (554 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $6k of loan paydown is wiped out by about $25k of value loss. Plan a longer hold.
• Chittenden County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 114 days — a 9% lower offer ($773k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1899 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $772,590 (9.0% below list)

Questions for the listing agent

1. It's been on market 114 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1899 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 1.12% ✓
• Cap rate: 8.59%
• Cash-on-cash: 8.22%
• DSCR: 1.37
• GRM: 7.5

CMA / ARV

• ARV (median comp): $1,111,270
• List price: $849,000
• Delta: -23.60%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
230 North St	0.34mi	7/6.0	3,224 (-24%)	3mo	$800,000	$248	49
233 Pearl St	0.10mi	8/2.0 (+1)	3,227 (-24%)	11mo	$970,000	$301	48
53-55 Walnut St	0.59mi	6/5.0 (-1)	3,887 (-8%)	5mo	$725,000	$187	46
234 Pearl St	0.08mi	8/11.0 (+1)	4,558 (+7%)	34mo	$1,724,689	$378	44
16-18 Loomis St	0.14mi	7/7.0	3,531 (-17%)	34mo	$1,100,000	$312	36
142-144 N Champlain St	0.52mi	6/6.0 (-1)	3,768 (-11%)	15mo	$837,000	$222	32
40 48 Blum Ct	1.45mi	8/2.0 (+1)	4,310 (+2%)	32mo	$850,000	$197	29
120 Colchester Ave	0.62mi	8/4.0 (+1)	3,195 (-25%)	23mo	$1,100,000	$344	22
64-66 Adams St	0.63mi	6/2.0 (-1)	3,656 (-14%)	25mo	$1,025,000	$280	14

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: -3.8%
• Equity multiple: 0.86×
• Total profit: $-33,776
• Equity at exit: $126,589

10-year hold

• IRR: 5.9%
• Equity multiple: 1.44×
• Total profit: $104,643
• Equity at exit: $73,406

Cash invested: $237,720 (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 →

Seller's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 0 active · 2 under contract
• Months of supply: 0.0 mo

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 05401

• Active inventory: 189
• Price-to-rent: 29.6×

Monthly cashflow live

• Estimated rent: $9,487 high
• Mortgage (P&I): −$4,452
• Tax est. 1.5%: −$1,061 /mo · $12,735/yr
• Insurance: −$354
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,992
• Net cashflow: $1,627

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$7,176
1× unit	1	1	$2,311
Total (4 units)			$9,487

Break-even live

Break-even rent $7,427

Max offer price $849,000

Occupancy floor 78%

Sensitivity live

Price	-10% $2,214	-5% $1,921	+0% $1,627	+5% $1,334	+10% $1,041
Rent	-10% $878	-5% $1,253	+0% $1,627	+5% $2,002	+10% $2,377
Rate	-1.0pp $2,055	-0.5pp $1,843	base $1,627	+0.5pp $1,407	+1.0pp $1,184

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: $212,250
• Closing costs: $25,470
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
19 Greene St Burlington, VT	2.0–3.0	1.0	—	$2,290	—	93d	2	0.02mi
8 S Union St Unit 1 Burlington, VT	2.0	1.0	1100	$2,100	$1.91	70d	1	0.08mi
37 S Willard St Burlington, VT	3.0	1.0	900	$2,625	$2.92	93d	1	0.14mi
52 Isham St Unit 2 Burlington, VT	3.0	1.0	1065	$3,050	$2.86	93d	1	0.14mi
6 1/2 N Winooski Ave Burlington, VT	3.0	1.0	—	$2,100	—	70d	1	0.15mi
14 N Winooski Ave Burlington, VT	2.0	1.0	—	$1,650	—	93d	1	0.15mi
2 Bradley St Burlington, VT	1.0	1.0	—	$1,650	—	70d	1	0.18mi
100 N Winooski Ave Burlington, VT	1.0	1.0	—	$1,700	—	93d	1	0.23mi
238 College St Burlington, VT	1.0	1.0	—	$1,700	—	93d	1	0.29mi
372-374 North St Burlington, VT	3.0	1.0	1080	$2,880	$2.67	93d	1	0.29mi
416 Pearl St Burlington, VT	1.0–4.0	1.0	—	$2,433	—	93d	4	0.30mi
288 Main St Burlington, VT	2.0	1.0	712	$2,000	$2.81	93d	1	0.32mi
244 North St Unit 1 Burlington, VT	3.0	1.0	—	$3,000	—	70d	1	0.34mi
407 College St Unit 1 Burlington, VT	2.0	1.0	—	$2,500	—	93d	1	0.34mi
42 N Prospect St Burlington, VT	1.0	1.0	—	$1,695	—	70d	1	0.37mi
131 Church St Unit 302 Burlington, VT	1.0	1.0	502	$2,000	$3.98	93d	1	0.38mi
140 Bank St Burlington, VT	2.0	2.0	1337	$4,525	$3.38	70d	3	0.38mi
176 Elmwood Ave Unit 1 Burlington, VT	3.0	1.0	—	$2,700	—	93d	1	0.42mi
48 Monroe St Unit 1 Burlington, VT	2.0	1.0	1196	$2,400	$2.01	70d	1	0.44mi
141 Main St Burlington, VT	1.0	1.0	—	$1,545	—	93d	1	0.45mi
207 S Union St #1 Burlington, VT	2.0	1.0	—	$2,050	—	93d	1	0.46mi
79 Pine St Burlington, VT	1.0	1.0	979	$4,600	$4.70	70d	1	0.46mi
158 North St Burlington, VT	2.0	1.0	—	$2,190	—	70d	1	0.46mi
131 Main St Burlington, VT	1.0–2.0	1.0–1.5	685	$2,500	$3.65	70d	1	0.47mi
52-62 Cedar St Unit 1A Burlington, VT	2.0	1.0	—	$1,800	—	93d	1	0.49mi
86 Archibald St Burlington, VT	3.0	1.0	—	$2,700	—	70d	1	0.50mi
47 Willow St Burlington, VT	2.0	1.0	—	$1,740	—	70d	1	0.55mi
26 Cedar St Burlington, VT	3.0	1.0	—	$2,500	—	93d	1	0.56mi
55-57 Rose St Apt 4 Burlington, VT	2.0	1.0	—	$1,890	—	70d	1	0.57mi
170 Park St Burlington, VT	3.0	1.0	896	$2,900	$3.24	93d	1	0.63mi
93 Walnut St #5 Burlington, VT	3.0	1.0	950	$3,000	$3.16	93d	1	0.66mi
50 North Ave Burlington, VT	3.0	1.0	—	$2,385	—	70d	1	0.69mi
304 S Winooski Ave Burlington, VT	3.0	2.0	780	$2,950	$3.78	93d	1	0.69mi
96 Pitkin St Apt C Burlington, VT	2.0	1.0	—	$2,290	—	93d	1	0.74mi
267 Hildred Dr Burlington, VT	2.0	1.0	820	$2,450	$2.99	70d	1	0.74mi
135 North Ave Unit 135 Burlington, VT	3.0	2.0	1090	$2,800	$2.57	93d	1	0.83mi
150 North Ave Burlington, VT	2.0	1.0	1000	$2,500	$2.50	93d	1	0.83mi
237 North Ave Burlington, VT	2.0	2.0	1208	$3,500	$2.90	70d	1	0.99mi
426 Colchester Ave Unit 6 Burlington, VT	3.0	1.0	—	$2,600	—	93d	1	1.08mi
545 S Prospect St #19 Burlington, VT	2.0	2.5	1566	$4,100	$2.62	93d	1	1.09mi

Property features AI

Finance

• Other: Approximate total finished area and overall size provided in records
• Financial info: Net income reported: $73,700

Exterior

• Parking: Paved driveway
• Utilities: Public sewerPublic waterElectric with circuit breakersNatural gas service (VT Gas)Cable availableHigh-speed internet availableElectric service provided by Burlington Electric
• Home design: Multi-family propertyExisting structure
• Construction: Wood-frame constructionSlate roofBuilt in 1899
• Exterior features: City lotPaved drivewayPaved public road frontage

Interior

• Bedrooms: Four rental units: three 2-bedroom units and one 1-bedroom unitUnit breakdown: Unit 1 — 2 bedrooms; Unit 2 — 2 bedrooms; Unit 3 — 2 bedrooms; Unit 4 — 1 bedroom
• Bathrooms: Four full bathrooms (one per unit)
• Heating & cooling: Natural gas heating with hot airNo central cooling
• Interior features: Basement present with interior accessUnfinished, dirt-floor basement

Listing history 50 events

1. 2026-08-08
   days on market $849,000 Active 114 DOM
2. 2026-08-07
   days on market $849,000 Active 113 DOM
3. 2026-08-06
   days on market $849,000 Active 112 DOM
4. 2026-08-05
   days on market $849,000 Active 111 DOM
5. 2026-08-04
   days on market $849,000 Active 110 DOM
6. 2026-08-03
   days on market $849,000 Active 109 DOM
7. 2026-07-31
   days on market $849,000 Active 106 DOM
8. 2026-07-29
   days on market $849,000 Active 104 DOM
9. 2026-07-27
   days on market $849,000 Active 102 DOM
10. 2026-07-25
    days on market $849,000 Active 100 DOM
11. 2026-07-23
    days on market $849,000 Active 98 DOM
12. 2026-07-22
    days on market $849,000 Active 97 DOM
13. 2026-07-21
    days on market $849,000 Active 96 DOM
14. 2026-07-18
    days on market $849,000 Active 93 DOM
15. 2026-07-16
    days on market $849,000 Active 91 DOM
16. 2026-07-16
    days on market $849,000 Active 90 DOM
17. 2026-07-14
    days on market $849,000 Active 89 DOM
18. 2026-07-13
    days on market $849,000 Active 88 DOM
19. 2026-07-12
    days on market $849,000 Active 87 DOM
20. 2026-07-11
    days on market $849,000 Active 86 DOM
21. 2026-07-10
    days on market $849,000 Active 85 DOM
22. 2026-07-09
    days on market $849,000 Active 84 DOM
23. 2026-07-08
    days on market $849,000 Active 83 DOM
24. 2026-07-07
    days on market $849,000 Active 82 DOM
25. 2026-07-06
    days on market $849,000 Active 81 DOM
26. 2026-07-05
    days on market $849,000 Active 80 DOM
27. 2026-07-04
    days on market $849,000 Active 79 DOM
28. 2026-07-03
    days on market $849,000 Active 78 DOM
29. 2026-07-02
    days on market $849,000 Active 77 DOM
30. 2026-07-01
    days on market $849,000 Active 76 DOM
31. 2026-06-30
    days on market $849,000 Active 75 DOM
32. 2026-06-29
    days on market $849,000 Active 74 DOM
33. 2026-06-28
    days on market $849,000 Active 73 DOM
34. 2026-06-28
    days on market $849,000 Active 72 DOM
35. 2026-06-27
    days on market $849,000 Active 71 DOM
36. 2026-06-26
    days on market $849,000 Active 70 DOM
37. 2026-06-23
    days on market $849,000 Active 67 DOM
38. 2026-06-21
    days on market $849,000 Active 66 DOM
39. 2026-06-19
    days on market $849,000 Active 64 DOM
40. 2026-06-18
    days on market $849,000 Active 63 DOM
41. 2026-06-17
    days on market $849,000 Active 62 DOM
42. 2026-06-16
    days on market $849,000 Active 61 DOM
43. 2026-06-15
    days on market $849,000 Active 60 DOM
44. 2026-06-14
    days on market $849,000 Active 58 DOM
45. 2026-06-13
    days on market $849,000 Active 57 DOM
46. 2026-06-10
    days on market $849,000 Active 55 DOM
47. 2026-06-09
    days on market $849,000 Active 54 DOM
48. 2026-06-08
    days on market $849,000 Active 53 DOM
49. 2026-06-07
    days on market $849,000 Active 52 DOM
50. 2026-06-05
    days on market $849,000 Active 49 DOM

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

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 ≥93°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $113,844
• − Mortgage interest: −$47,557
• − Property taxes: −$12,735
• − Insurance: −$4,245
• − Repairs & maintenance: −$9,108
• − Management: −$9,108
• − Depreciation: −$24,698
• Taxable income: $6,394
• Est. tax owed @ 24.0%: −$1,534
• After-tax cash flow: $17,995/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab Est. rehab $106,075–$190,935 screening

This 4-unit investment property requires moderate renovations to improve its condition and appeal to both buyers and renters. The kitchen and bathrooms are in need of updates, and the exterior and roof show signs of wear. Addressing these issues would significantly increase its value.

Repairs flagged

• Moderate kitchen cabinets — dated and worn
• Moderate bathroom fixtures — basic and dated
• Moderate roof shingles — visible wear
• Moderate exterior siding — weathered and discolored
• Moderate HVAC systems — basic and likely outdated

Value-add opportunities

• Both update kitchen cabinets and countertops — modernizing the kitchen would appeal to both buyers and renters ↑
• Both replace dated bathroom fixtures — modernizing bathrooms would appeal to both buyers and renters ↑
• Both repair/replace windows — new windows would improve energy efficiency and curb appeal ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

D Composite school gradezoned avg 51/100

Zoned Schools

Elementary Champlain School C VT #31/192 Nat'l #9,801/41,679 Middle Edmunds Middle School C VT #8/26 Nat'l #3,585/14,009 High Burlington High School D VT #8/48 Nat'l #5,677/17,239

Schools (NCES district)

No district data.

B Composite livability gradescore 74/100

Livability — Burlington

• Score: 74/100
• State rank: #19
• US rank: #4619

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Burlington, VT
• County: Chittenden County · 170,769 people
• City population: 31,662
• Metro: Burlington-South Burlington, VT
• Population (ZIP): 31,662
• Household income: $65,657
• Rent vs Own: 68.6% rent · 31.4% own
• Severe rent burden: 14% of renters

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Population outlook (Chittenden County) Hauer SSP2

• Today (2025): 170,769 people
• By 2030: 174,716 · +2.3%
• By 2040: 180,337 · +5.6%
• By 2050: 183,768 · +7.6%
• By 2075: 194,646 · +14.0%
• By 2100: 194,933 · +14.2%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Two or more races 6% Asian 4% Black 4% Hispanic / Latino 4%
• Common ancestry: Romanian 5% Lithuanian 5% Slovak 4%
• Foreign-born: 7% · China, Canada, Vietnam
• Languages at home: 90% English-only · Other Indo-European 2% French/Haitian/Cajun 2% Spanish 2%

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Political lean MEDSL · Chittenden

• 2024 margin: Solid D (+53.6) · D 75.4% · R 21.7% · Other 2.9%
• 2008→2024 swing: +8.9pp toward D · 2008: 44.8pp · 2024: 53.6pp
• All cycles: 2024: D+53.6 2020: D+54.5 2016: D+46.8 2012: D+41.9 2008: D+44.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -316.87%
• Current HPI: 352.2081
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Property features AI

Finance

• Other: Approximate total finished area and overall size provided in records
• Financial info: Net income reported: $73,700

Exterior

• Parking: Paved driveway
• Utilities: Public sewerPublic waterElectric with circuit breakersNatural gas service (VT Gas)Cable availableHigh-speed internet availableElectric service provided by Burlington Electric
• Home design: Multi-family propertyExisting structure
• Construction: Wood-frame constructionSlate roofBuilt in 1899
• Exterior features: City lotPaved drivewayPaved public road frontage

Interior

• Bedrooms: Four rental units: three 2-bedroom units and one 1-bedroom unitUnit breakdown: Unit 1 — 2 bedrooms; Unit 2 — 2 bedrooms; Unit 3 — 2 bedrooms; Unit 4 — 1 bedroom
• Bathrooms: Four full bathrooms (one per unit)
• Heating & cooling: Natural gas heating with hot airNo central cooling
• Interior features: Basement present with interior accessUnfinished, dirt-floor basement

Price history

-1.8% since first listed

2 events — show timeline

• 2026-05-22 Price Changed $849,000 PrimeMLS
• 2026-04-16 Listed $865,000 PrimeMLS