254 Union St · Bennington, VT 05201

$295,000

4 bd · 2.0 ba · 1,792 sqft · MultiFamily public records · 318 Days on market

Built 1900 5,662 sqft lot Est $254k · 16% over

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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 +27.1/30.0
• DSCR +9.4/10.0
• 1% rule +6.5/10.0
• Schools +5.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.3/15.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks

Welcome to this well-maintained, solid income-producing two-family home located in the heart of town—just steps from shops, dining, and downtown events. Perfect for owner-occupants or savvy investors, this property combines classic charm with modern efficiency and low operating costs. Each two-bedroom unit features spacious, light-filled living areas, eat-in kitchen and comfortable bedrooms. Recent energy-efficient upgrades include newer windows, oil tank, insulation, and high-efficiency heating system, helping to keep utility expenses low while enhancing year-round comfort. The property offers separate utilities, off-street parking, private outdoor space, and a strong rental history

Key facts

• Separate utilities
• Off street parking
• 5,662 sq ft lot

Tags

• ENERGY EFFICIENT UPGRADES
• SEPARATE UTILITIES
• OFF STREET PARKING
• PRIVATE OUTDOOR SPACE
• STRONG RENTAL HISTORY

Property features AI

Finance

• Financial info: Net income reported: $26,060; Operating expenses include heat, trash, water/sewer and other expenses

Exterior

• Parking: Paved driveway parking
• Utilities: Public water on-site; Public sewer on-site; 200 Amp electrical service; Cable and high-speed internet available, including fiber optic and cable internet; Trash service handled by owner
• Home design: Freestanding multi-family, multi-level building; Existing construction
• Construction: Built in 1900; Vinyl siding; Architectural/asphalt shingle roof; Foundation details not provided
• Exterior features: Interior, level lot in town with sidewalks, street lights, and neighborhood setting; Paved driveway; Public road frontage (public maintained, paved)

Interior

• Kitchen: Each unit includes an electric range and refrigerator
• Bedrooms: Two 2-bedroom units (one on level 1, one on level 2)
• Flooring: Carpet, laminate, tile, and vinyl plank flooring
• Bathrooms: Two full bathrooms (one in each unit)
• Heating & cooling: Oil-fired baseboard heating; No central air conditioning
• Interior features: Unfinished walk-up basement with exterior bulkhead and exterior stairs; basement is dirt floor with no tenant access
• Laundry & utility: Each unit has laundry hookups; Oil heating provided; heat included for units

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $295k.

Deal economics

• At list price, monthly cash flow is $777 ($9k/yr) — positive. Per door: $388/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $295k).
• Recommended offer: $260k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.7% vs local median 5.4% in Bennington — 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 64/100 on livability (#63 in VT) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A; Watch: employment C-, crime D, schools F.
• Market conditions: 65 active listings in the ZIP; 59 units permitted in Bennington County in 2024 (0 in 5+ unit buildings).
• At $3,401/mo this rent would consume 68% of the median local household income ($60k/yr) (locally 982% 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 $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Bennington County population projected at -23% 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 $83k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 318 days — a 12% lower offer ($260k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $50k; list at $295k implies a 490% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $259,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 318 days. Have you received any prior offers? Is the seller open to a 12% 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. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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 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?
9. Crime grade is D 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: 1.15% ✓
• Cap rate: 9.68%
• Cash-on-cash: 12.09%
• DSCR: 1.54
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $254,464
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
209 Grove St	0.39mi	4/2.0	1,652 (-8%)	1mo	$235,000	$142	68
216 Union St	0.13mi	4/3.0	1,887 (+5%)	20mo	$62,000	$33	64
215 School St	0.34mi	4/2.0	1,718 (-4%)	23mo	$165,000	$96	58
304-306 Grove St	0.54mi	5/3.0 (+1)	1,810 (+1%)	23mo	$291,000	$161	44
330 School St	0.55mi	3/3.0 (-1)	1,712 (-4%)	24mo	$270,000	$158	38

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: 0.5%
• Equity multiple: 1.02×
• Total profit: $1,628
• Equity at exit: $43,985

10-year hold

• IRR: 10.2%
• Equity multiple: 1.79×
• Total profit: $64,991
• Equity at exit: $25,506

Cash invested: $82,600 (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 05201

• Home prices YoY: -19.3%
• Active inventory: 65
• Price-to-rent: 14.5×

Monthly cashflow live

• Estimated rent: $3,401 medium
• Mortgage (P&I): −$1,547
• Tax from tax record: −$185 /mo · $2,217/yr
• Insurance: −$123
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$714
• Net cashflow: $777

Break-even live

Break-even rent $2,418

Max offer price $295,000

Occupancy floor 72%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,402
Total (2 units)			$3,401

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: $73,750
• Closing costs: $8,850
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-19
   days on market $295,000 Active 318 DOM
2. 2026-06-18
   days on market $295,000 Active 317 DOM
3. 2026-06-17
   days on market $295,000 Active 316 DOM
4. 2026-06-16
   days on market $295,000 Active 315 DOM
5. 2026-06-15
   days on market $295,000 Active 314 DOM
6. 2026-06-14
   days on market $295,000 Active 312 DOM
7. 2026-06-12
   days on market $295,000 Active 311 DOM
8. 2026-06-09
   days on market $295,000 Active 308 DOM
9. 2026-06-08
   days on market $295,000 Active 307 DOM
10. 2026-06-07
    days on market $295,000 Active 306 DOM
11. 2026-06-07
    days on market $295,000 Active 305 DOM
12. 2026-06-04
    days on market $295,000 Active 302 DOM
13. 2026-06-02
    days on market $295,000 Active 301 DOM
14. 2026-06-01
    days on market $295,000 Active 300 DOM
15. 2026-05-31
    days on market $295,000 Active 299 DOM
16. 2026-05-31
    days on market $295,000 Active 298 DOM
17. 2025-08-05
    listed $295,000 Active
18. 2008-08-29
    soldstatus $50,000

ⓘ 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: $2,217 · $185/mo
• Projected year-2 tax: $3,911 · $326/mo
• Expected delta: +$1,694/yr (+$141/mo · 76.4%)

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (shaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥92°F today · 16 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 7% 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: $40,812
• − Mortgage interest: −$16,525
• − Property taxes: −$2,217
• − Insurance: −$2,142
• − Repairs & maintenance: −$3,265
• − Management: −$3,265
• − Depreciation: −$8,582
• Taxable income: $4,817
• Est. tax owed @ 24.0%: −$1,156
• After-tax cash flow: $8,162/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 — Bennington

• Score: 64/100
• State rank: #63
• US rank: #14446

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bennington, VT
• County: Bennington County · 14,998 people
• City population: 14,998
• Metro: Bennington, VT
• Population (ZIP): 14,998
• Household income: $59,798
• Rent vs Own: 39.1% rent · 60.9% own
• Severe rent burden: 982.0

Population outlook (Bennington County) Hauer SSP2

• Today (2025): 34,407 people
• By 2030: 32,975 · -4.2%
• By 2040: 29,711 · -13.6%
• By 2050: 26,638 · -22.6%
• By 2075: 21,318 · -38.0%
• By 2100: 16,086 · -53.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Lithuanian 10% Slovak 7% Romanian 3%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2% Other Indo-European 1%

Political lean MEDSL · Bennington

• 2024 margin: Strong D (+22.5) · D 60.0% · R 37.5% · Other 2.6%
• 2008→2024 swing: -10.9pp toward R · 2008: 33.4pp · 2024: 22.5pp
• All cycles: 2024: D+22.5 2020: D+27.3 2016: D+22.1 2012: D+33.3 2008: D+33.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -60.78%
• Current HPI: 254.5149
• Rent YoY: —
• Metro: Bennington, VT
• State GDP YoY: —
• F500 in state: 0

Price history

+490.0% since first listed

2 events — show timeline

• 2025-08-05 Listed $295,000 PrimeMLS
• 2008-08-29 Sold (Public Records) $50,000 Public Records

Property tax history

-3.0%/yr

Latest (2024): $2,217 · +9.6% YoY. Source: county tax records.