53-55 VT Route 30 N

Castleton, VT 05735

$539,000C-

4 bd · 2.0 ba · 6,557 sqft · Built 1939 · MultiFamily · Active · 82 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,816/mo
• Mortgage (P&I): −$2,827
• Tax + insurance: −$898
• HOA: −$0
• Vac / Maint / Mgmt: −$1,011
• Net cashflow: $80/mo
• Annual: $957/yr
• Cap rate: 6.47%
• Cash-on-cash: 0.63%
• DSCR: 1.03
• 1% rule: 0.89%
• Cash to close: $150,920

Investor read

• This is a 4-bed/2.0-bath multifamily listed at $539k. Condition is rated average.
• At list price, monthly cash flow is $80 ($957/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 $482k (10.6% below list).
• It's been on market 82 days — a 6% lower offer ($507k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $482k (10.6% below list) — sets the bar for 1% rule.
• In year one you build about $28k of equity ($4k loan paydown + $25k appreciation (4.6% local appreciation)).
• Location reads 64/100 on livability (#66 in VT) — a middle-class / working-renter tenant base. Strengths: crime A+, health & safety A; Watch: amenities F, commute F, employment F.
• Zoned schools: Fair Haven Union Middle And High School (math 12% / reading 32%, grade F, #45 of 48 statewide, top 94%, 536 students, 26% FRL).
• Watch-outs: built in 1939 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 43 active listings in the ZIP; 90 units permitted in Rutland County in 2024 (0 in 5+ unit buildings).
• Rutland County population projected at -28% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.6% appreciation + 3.0% rent growth), your $151k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$46k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 82 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
• Built in 1939 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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 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?
• 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.
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Major: Roof inspection — Shingles may need replacement or repair
• Moderate: Siding touch-up or repainting — Siding appears intact but may need touch-up or repainting
• Minor: Hardwood flooring cleaning or refinishing — Flooring appears in good condition but may need cleaning or refinishing
• Moderate: Paint touch-up or repainting — Paint appears faded in some areas, may need touch-up or repainting
• Moderate: Bathroom updates — Bathrooms appear functional but may need updates in fixtures or finishes
• Moderate: Kitchen updates — Kitchen appears functional but may need updates in appliances or finishes