7 Charles St · Montpelier, VT 05602

$420,000

5 bd · 2.0 ba · 2,432 sqft · MultiFamily · 21 Days on market

Built 1895 Good condition 5,662 sqft lot Est $469k · 11% under

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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 +29.6/30.0
• ARV discount +12.2/15.0
• DSCR +10.0/10.0
• 1% rule +8.3/10.0
• Schools +5.0/10.0
• Livability +4.2/5.0
• Condition / age +4.0/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

This house was built on a strong foundation, and with it, you can set roots and build your financial future. Well-maintained and thoughtfully cared for, this two-unit property offers both stability and flexibility in an ideal location just moments from the College Green, Hunger Mountain Food Co-op, and the Bike Path. Enjoy the ease of a convenient and connected neighborhood while staying close to the growing energy and activity of downtown. Live comfortably in one unit while generating income from the other, or create a welcoming multi-generational living arrangement that balances privacy with togetherness. The layout naturally supports a variety of living styles, making it as practical as it is inviting. Daily life here is defined by convenience and community - morning visits to the Co-op, bike rides along scenic paths, and evenings spent exploring local shops, dining, and events. A great neighborhood and vibrant yet relaxed setting make this more than just a place to live. With its solid construction, careful maintenance, and enduring appeal, this property is ready to serve its next owner well for years to come - offering not just a home, but a smart investment in lifestyle and long-term value.

Key facts

• 5,662 sq ft lot
• Built 1895
• Listed 20 days

Property features AI

Exterior

• Utilities: Public water; Public sewer; 100 amp electrical service; Fiber optic internet available; Telephone service available
• Home design: Duplex; Blue exterior; Metal roof; Existing structure
• Construction: Built in 1895; Wood frame construction
• Exterior features: City lot; Crushed stone driveway

Interior

• Kitchen: Dishwasher; Energy Star dishwasher; Electric range / stove; Refrigerator
• Flooring: Carpet; Hardwood; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Direct vent heating; Forced air heating
• Interior features: 9 total rooms; Unfinished basement with interior access

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath multifamily listed at $420k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $2k ($18k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $420k).
• Recommended offer: $414k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.6% vs local median 2.4% in Montpelier — 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 84/100 on livability (#3 in VT, #670 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, housing A+, health & safety A+; Watch: crime C-.
• Zoned schools: Union Elementary School (math 52% / reading 57%, grade C, #31 of 192 statewide, top 21%, 448 students, 13% FRL).
• Market conditions: 65 active listings in the ZIP; 185 units permitted in Washington County in 2024 (30 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $13k of value loss. Plan a longer hold.
• Washington County population projected at -19% 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 $118k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($414k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1895 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $413,700 (1.5% below list)

Questions for the listing agent

1. Built in 1895 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.33% ✓
• Cap rate: 10.64%
• Cash-on-cash: 15.53%
• DSCR: 1.69
• GRM: 6.2

CMA / ARV

• ARV (on-the-fly): $469,376
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
18 College St	0.12mi	4/3.0 (-1)	2,580 (+6%)	10mo	$499,000	$193	67
19 Franklin St	0.61mi	6/2.0 (+1)	2,328 (-4%)	12mo	$450,000	$193	49
43 E State St	0.35mi	5/4.0	2,793 (+15%)	6mo	$649,000	$232	46

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: 6.3%
• Equity multiple: 1.25×
• Total profit: $28,930
• Equity at exit: $62,623

10-year hold

• IRR: 15.7%
• Equity multiple: 2.28×
• Total profit: $150,314
• Equity at exit: $36,314

Cash invested: $117,600 (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 05602

• Active inventory: 65
• Price-to-rent: 12.5×

Monthly cashflow live

• Estimated rent: $5,600 medium
• Mortgage (P&I): −$2,203
• Tax est. 1.5%: −$525 /mo · $6,300/yr
• Insurance: −$175
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,176
• Net cashflow: $1,521

Break-even live

Break-even rent $3,674

Max offer price $420,000

Occupancy floor 68%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$5,600
Total (2 units)			$5,600

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: $105,000
• Closing costs: $12,600
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-19
   days on market $420,000 Active 21 DOM
2. 2026-06-18
   days on market $420,000 Active 20 DOM
3. 2026-06-17
   days on market $420,000 Active 19 DOM
4. 2026-06-16
   days on market $420,000 Active 18 DOM
5. 2026-06-15
   days on market $420,000 Active 17 DOM
6. 2026-06-14
   days on market $420,000 Active 15 DOM
7. 2026-06-12
   days on market $420,000 Active 14 DOM
8. 2026-06-09
   days on market $420,000 Active 11 DOM
9. 2026-06-08
   days on market $420,000 Active 10 DOM
10. 2026-06-07
    days on market $420,000 Active 9 DOM
11. 2026-06-04
    days on market $420,000 Active 5 DOM
12. 2026-06-02
    days on market $420,000 Active 4 DOM
13. 2026-06-01
    days on market $420,000 Active 3 DOM
14. 2026-05-31
    days on market $420,000 Active 2 DOM
15. 2026-05-29
    listed $420,000 Active 1215-char remark

    Show marketing remark (1215 chars)

    This house was built on a strong foundation, and with it, you can set roots and build your financial future. Well-maintained and thoughtfully cared for, this two-unit property offers both stability and flexibility in an ideal location just moments from the College Green, Hunger Mountain Food Co-op, and the Bike Path. Enjoy the ease of a convenient and connected neighborhood while staying close to the growing energy and activity of downtown. Live comfortably in one unit while generating income from the other, or create a welcoming multi-generational living arrangement that balances privacy with togetherness. The layout naturally supports a variety of living styles, making it as practical as it is inviting. Daily life here is defined by convenience and community - morning visits to the Co-op, bike rides along scenic paths, and evenings spent exploring local shops, dining, and events. A great neighborhood and vibrant yet relaxed setting make this more than just a place to live. With its solid construction, careful maintenance, and enduring appeal, this property is ready to serve its next owner well for years to come - offering not just a home, but a smart investment in lifestyle and long-term value.

16. 2026-05-29
    listed $420,000 Active

    Show marketing remark (1215 chars)

    This house was built on a strong foundation, and with it, you can set roots and build your financial future. Well-maintained and thoughtfully cared for, this two-unit property offers both stability and flexibility in an ideal location just moments from the College Green, Hunger Mountain Food Co-op, and the Bike Path. Enjoy the ease of a convenient and connected neighborhood while staying close to the growing energy and activity of downtown. Live comfortably in one unit while generating income from the other, or create a welcoming multi-generational living arrangement that balances privacy with togetherness. The layout naturally supports a variety of living styles, making it as practical as it is inviting. Daily life here is defined by convenience and community - morning visits to the Co-op, bike rides along scenic paths, and evenings spent exploring local shops, dining, and events. A great neighborhood and vibrant yet relaxed setting make this more than just a place to live. With its solid construction, careful maintenance, and enduring appeal, this property is ready to serve its next owner well for years to come - offering not just a home, but a smart investment in lifestyle and long-term value.

ⓘ 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 ≥90°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% 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: $67,200
• − Mortgage interest: −$23,527
• − Property taxes: −$6,300
• − Insurance: −$2,100
• − Repairs & maintenance: −$5,376
• − Management: −$5,376
• − Depreciation: −$12,218
• Taxable income: $12,303
• Est. tax owed @ 24.0%: −$2,953
• After-tax cash flow: $15,305/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 · 13 photos

Good 80/100 Cosmetic rehab

This two-unit property is in good condition with a fresh exterior paint job, making it move-in ready and suitable for both resale and rental.

Value-add opportunities

• Both Paint exterior — Fresh paint enhances curb appeal and can increase both resale and rental value.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Fresh paint enhances curb appeal and can increase both resale and rental value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

No district data.

Livability — Montpelier

• Score: 84/100
• State rank: #3
• US rank: #670

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Montpelier, VT
• Population (ZIP): 12,491

Population outlook (Washington County) Hauer SSP2

• Today (2025): 56,608 people
• By 2030: 54,731 · -3.3%
• By 2040: 50,227 · -11.3%
• By 2050: 45,893 · -18.9%
• By 2075: 36,818 · -35.0%
• By 2100: 28,143 · -50.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 6% Hispanic / Latino 3% Asian 1% Black 1%
• Common ancestry: Lithuanian 6% Slovak 4% Romanian 3%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · French/Haitian/Cajun 2% Spanish 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Washington

• 2024 margin: Solid D (+43.4) · D 70.0% · R 26.6% · Other 3.4%
• 2008→2024 swing: +2.4pp toward D · 2008: 41.0pp · 2024: 43.4pp
• All cycles: 2024: D+43.4 2020: D+46.1 2016: D+37.0 2012: D+42.2 2008: D+41.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -195.34%
• Current HPI: 344.3382
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+0.0% since first listed

2 events — show timeline

• 2026-05-29 Listed $420,000 PrimeMLS
• 2026-05-29 Listed $420,000 PrimeMLS