25 AB South St

Bristol, VT 05443

$215,000C

6 bd · 4.0 ba · 1,268 sqft · Built 1870 · MultiFamily · Active · 115 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,391/mo
• Mortgage (P&I): −$1,127
• Tax + insurance: −$425
• HOA: −$0
• Vac / Maint / Mgmt: −$502
• Net cashflow: $337/mo
• Annual: $4,039/yr
• Cap rate: 8.54%
• Cash-on-cash: 8.03%
• DSCR: 1.36
• 1% rule: 1.11%
• Cash to close: $60,200

Investor read

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $215k. Condition is rated good.
• At list price, monthly cash flow is $337 ($4k/yr) — positive. Per door: $168/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $215k).
• It's been on market 115 days — a 9% lower offer ($196k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $196k (9.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 78/100 on livability (#10 in VT, #2,552 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, housing A+; Watch: amenities D-, commute F.
• Watch-outs: flood insurance adds $66/mo; built in 1870 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 18 active listings in the ZIP; 104 units permitted in Addison County in 2024 (6 in 5+ unit buildings).
• Addison County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 115 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Built in 1870 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?