3000 VT Route 100 Unit 6B

Waitsfield, VT 05673

$585,000D

3 bd · 2.0 ba · 1,505 sqft · Built 2026 · Condo · Active · 94 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,771/mo
• Mortgage (P&I): −$3,068
• Tax + insurance: −$975
• HOA: −$0
• Vac / Maint / Mgmt: −$792
• Net cashflow: $-1,063/mo
• Annual: $-12,760/yr
• Cap rate: 4.11%
• Cash-on-cash: -7.79%
• DSCR: 0.65
• 1% rule: 0.64%
• Cash to close: $163,800

Investor read

• This is a 3-bed/2.0-bath condo listed at $585k.
• At list price, monthly cash flow is $-1k ($-13k/yr) — negative.
• To cash-flow at today's rent, offer at most $431k (26.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $377k (35.5% below list).
• It's been on market 94 days — a 9% lower offer ($532k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $377k (35.5% below list) — sets the bar for 1% rule.
• In year one you build about $63k of equity ($4k loan paydown + $58k appreciation (10.0% local appreciation)).
• Location reads 68/100 on livability (#37 in VT) — a middle-class / working-renter tenant base. Strengths: crime A+, health & safety A, housing B; Watch: amenities F, commute F, employment F.
• Zoned schools: Crossett Brook Middle School (math 39% / reading 61%, grade C, #7 of 26 statewide, top 24%, 288 students, 14% FRL); Harwood Union Middle/High School (math 27% / reading 67%, grade D-, #10 of 48 statewide, top 28%, 556 students, 18% FRL).
• Market conditions: 23 active listings in the ZIP; 185 units permitted in Washington County in 2024 (30 in 5+ unit buildings).
• Washington County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 2, paydown + projected appreciation supports a ~$101k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 94 days. Have you received any prior offers? Is the seller open to a 36% concession, seller financing, or rate buy-down credit?
• Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
• 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 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.