20134 State Route 22

North Pownal, VT 12138

$319,500D

4 bd · 3.0 ba · 1,080 sqft · Built 1976 · SingleFamily · Active · 11 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,902/mo
• Mortgage (P&I): −$1,675
• Tax + insurance: −$620
• HOA: −$0
• Vac / Maint / Mgmt: −$399
• Net cashflow: $-794/mo
• Annual: $-9,523/yr
• Cap rate: 3.31%
• Cash-on-cash: -10.64%
• DSCR: 0.53
• 1% rule: 0.60%
• Cash to close: $89,460

Investor read

• This is a 4-bed/3.0-bath single-family listed at $320k.
• At list price, monthly cash flow is $-794 ($-10k/yr) — negative.
• To cash-flow at today's rent, offer at most $179k (43.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $190k (40.5% below list).
• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $179k (43.9% below list) — sets the bar for cash-flow.
• In year one you build about $34k of equity ($2k loan paydown + $32k appreciation (10.0% local appreciation)).
• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Hoosick Falls Central School District (rural): math 52% / reading 46% proficiency, ranked #469 of 755 in NY (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Hoosick Falls Elementary School (math 54% / reading 64%, grade B-, #745 of 2,108 statewide, top 39%, 398 students, 53% FRL); Hoosick Falls Middle School (325 students, 54% FRL); Hoosick Falls High School (math 87% / reading 82%, grade A, #379 of 1,100 statewide, top 36%, 329 students, 51% FRL) — zoned schools average 53% FRL vs 35% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 72% at this address vs 49% district-wide (+23 pts) — the actual schools serving this property are materially stronger than the Hoosick Falls Central School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 405 units permitted in Rensselaer County in 2024 (224 in 5+ unit buildings).
• Rensselaer County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 9 sale attempts since 16y ago 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.
• Current owner paid $175k; list at $320k implies a 83% gain — meaningful room to come down on a strong offer.
• By year 2, paydown + projected appreciation supports a ~$55k 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?
• Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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 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.