37 Avenue B · Burlington, VT 05408

$109,750

3 bd · 1.0 ba · 980 sqft · Manufactured public records · 71 Days on market

Built 1993 $112/sqft · at area comps Est $120k · 8% 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 +30.0/30.0
• ARV discount +11.3/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +5.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This 1,064-square-foot mobile home offers an incredible opportunity to plant roots in Burlington’s New North End through the North Avenue Co-Op, a community dedicated to land tenure and long-term affordability. This location is commuter-friendly, featuring a public bus stop just around the corner offering direct access to downtown, UVM, and the medical center. Residents enjoy unparalleled convenience offered by the Ethan Allen Shopping Plaza located directly across the street and home to a grocery store, post office, local library, gym, and various dining options. For outdoor enthusiasts, the home is within walking distance of the expansive Leddy Park, which boasts 1,800 feet of Lake Champlain shoreline, a sandy beach, an ice arena, and multiple sports courts. Inside, the home is move-in ready and features a functional layout with two bedrooms positioned on opposite sides for increased privacy. A spacious 10’ x 20’ enclosed porch serves as the main entry, providing a versatile space for a mudroom or seasonal storage. While the property could benefit from some cosmetic updates, it offers a solid foundation, including a gas stove, a large exterior shed, and one included parking space. This must be an owner-occupied residence, offering a stable and community-oriented environment for its next owner.

Key facts

• Public bus stop
• Local library
• Leddy park

Tags

• COMMUTER-FRIENDLY LOCATION
• PUBLIC BUS STOP
• ETHAN ALLEN SHOPPING PLAZA
• GROCERY STORE
• LOCAL LIBRARY
• LEDDY PARK

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath manufactured listed at $110k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Recommended offer: $103k (6.0% below list) — sets the bar for market timing.
• Cap rate 19.8% vs local median 3.1% in Burlington — 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 74/100 on livability (#19 in VT, #4,619 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, health & safety A+, schools B; Watch: cost of living D, crime F, amenities F.
• Market conditions: 43 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 898 units permitted in Chittenden County in 2024 (554 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $758 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Chittenden County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 71 days — a 6% lower offer ($103k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $30k; list at $110k implies a 265% gain — meaningful room to come down on a strong offer.

Recommended offer $103,165 (6.0% below list)

Questions for the listing agent

1. It's been on market 71 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. Crime grade is F 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?
6. 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.
7. 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.
8. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 2.19% ✓
• Cap rate: 19.84%
• Cash-on-cash: 48.38%
• DSCR: 3.15
• GRM: 3.8

CMA / ARV

• ARV (median comp): $119,900
• List price: $109,750
• Delta: -8.47%
• Verdict: FAIR
• Comps: 1 within 2.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
21 Avenue C	0.08mi	3/1.0	924 (-6%)	5mo	$119,900	$130	82
3 Avenue E	0.14mi	2/2.0 (-1)	960 (-2%)	16mo	$125,000	$130	68
10 Avenue A	0.08mi	3/2.0	1,078 (+10%)	22mo	$115,000	$107	57

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: 45.9%
• Equity multiple: 2.99×
• Total profit: $61,096
• Equity at exit: $16,364

10-year hold

• IRR: 51.7%
• Equity multiple: 6.03×
• Total profit: $154,699
• Equity at exit: $9,489

Cash invested: $30,730 (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 05408

• Active inventory: 43
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $2,400 medium
• Mortgage (P&I): −$576
• Tax from tax record: −$36 /mo · $430/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$504
• Net cashflow: $1,239

Break-even live

Break-even rent $832

Max offer price $109,750

Occupancy floor 43%

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: $27,438
• Closing costs: $3,292
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18 Valade St Burlington, VT	2.0	1.0	1080	$2,400	$2.22	21d	1	1.05mi

Listing history 9 events

1. 2026-06-05
   status $109,750 Pending 71 DOM
2. 2026-06-03
   days on market $109,750 Active 71 DOM
3. 2026-06-02
   days on market $109,750 Active 70 DOM
4. 2026-06-01
   days on market $109,750 Active 69 DOM
5. 2026-05-31
   days on market $109,750 Active 68 DOM
6. 2026-05-30
   days on market $109,750 Active 67 DOM
7. 2026-04-27
   price $114,900 1334-char remark

   Show marketing remark (1334 chars)

   This 1,064-square-foot mobile home offers an incredible opportunity to plant roots in Burlington’s New North End through the North Avenue Co-Op, a community dedicated to land tenure and long-term affordability. This location is commuter-friendly, featuring a public bus stop just around the corner offering direct access to downtown, UVM, and the medical center. Residents enjoy unparalleled convenience offered by the Ethan Allen Shopping Plaza located directly across the street and home to a grocery store, post office, local library, gym, and various dining options. For outdoor enthusiasts, the home is within walking distance of the expansive Leddy Park, which boasts 1,800 feet of Lake Champlain shoreline, a sandy beach, an ice arena, and multiple sports courts. Inside, the home is move-in ready and features a functional layout with two bedrooms positioned on opposite sides for increased privacy. A spacious 10’ x 20’ enclosed porch serves as the main entry, providing a versatile space for a mudroom or seasonal storage. While the property could benefit from some cosmetic updates, it offers a solid foundation, including a gas stove, a large exterior shed, and one included parking space. This must be an owner-occupied residence, offering a stable and community-oriented environment for its next owner.

8. 2026-03-24
   listed $119,000 Active 1334-char remark

   Show marketing remark (1334 chars)

   This 1,064-square-foot mobile home offers an incredible opportunity to plant roots in Burlington’s New North End through the North Avenue Co-Op, a community dedicated to land tenure and long-term affordability. This location is commuter-friendly, featuring a public bus stop just around the corner offering direct access to downtown, UVM, and the medical center. Residents enjoy unparalleled convenience offered by the Ethan Allen Shopping Plaza located directly across the street and home to a grocery store, post office, local library, gym, and various dining options. For outdoor enthusiasts, the home is within walking distance of the expansive Leddy Park, which boasts 1,800 feet of Lake Champlain shoreline, a sandy beach, an ice arena, and multiple sports courts. Inside, the home is move-in ready and features a functional layout with two bedrooms positioned on opposite sides for increased privacy. A spacious 10’ x 20’ enclosed porch serves as the main entry, providing a versatile space for a mudroom or seasonal storage. While the property could benefit from some cosmetic updates, it offers a solid foundation, including a gas stove, a large exterior shed, and one included parking space. This must be an owner-occupied residence, offering a stable and community-oriented environment for its next owner.

9. 2015-10-14
   soldstatus $30,100

ⓘ 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: $430 · $36/mo
• Projected year-2 tax: $1,258 · $105/mo
• Expected delta: +$828/yr (+$69/mo · 192.5%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥93°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $28,800
• − Mortgage interest: −$6,148
• − Property taxes: −$430
• − Insurance: −$549
• − Repairs & maintenance: −$2,304
• − Management: −$2,304
• − Depreciation: −$3,193
• Taxable income: $13,873
• Est. tax owed @ 24.0%: −$3,329
• After-tax cash flow: $11,537/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 — Burlington

• Score: 74/100
• State rank: #19
• US rank: #4619

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Burlington, VT
• City population: 31,662
• Population (ZIP): 10,199

Population outlook (Chittenden County) Hauer SSP2

• Today (2025): 170,769 people
• By 2030: 174,716 · +2.3%
• By 2040: 180,337 · +5.6%
• By 2050: 183,768 · +7.6%
• By 2075: 194,646 · +14.0%
• By 2100: 194,933 · +14.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Two or more races 6% Black 4% Hispanic / Latino 3% Asian 3%
• Common ancestry: Lithuanian 9% Slovak 5% Romanian 5%
• Foreign-born: 9% · Canada, Vietnam
• Languages at home: 89% English-only · French/Haitian/Cajun 3% Russian/Polish/Slavic 3% Spanish 1%

Political lean MEDSL · Chittenden

• 2024 margin: Solid D (+53.6) · D 75.4% · R 21.7% · Other 2.9%
• 2008→2024 swing: +8.9pp toward D · 2008: 44.8pp · 2024: 53.6pp
• All cycles: 2024: D+53.6 2020: D+54.5 2016: D+46.8 2012: D+41.9 2008: D+44.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -212.09%
• Current HPI: 319.5442
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+281.7% since first listed

3 events — show timeline

• 2026-04-27 Price Changed $114,900 PrimeMLS
• 2026-03-24 Listed $119,000 PrimeMLS
• 2015-10-14 Sold (Public Records) $30,100 Public Records

Property tax history

-2.2%/yr

Latest (2024): $430 · +10.4% YoY. Source: county tax records.