81 Cramton Rd #6

Castleton, VT 05735

$49,900A

2 bd · 1.0 ba · 980 sqft · Built 1987 · Manufactured · Active · 129 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,236/mo
• Mortgage (P&I): −$262
• Tax + insurance: −$83
• HOA: −$0
• Vac / Maint / Mgmt: −$259
• Net cashflow: $631/mo
• Annual: $7,575/yr
• Cap rate: 21.47%
• Cash-on-cash: 54.22%
• DSCR: 3.41
• 1% rule: 2.48%
• Cash to close: $13,972

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $50k. Condition is rated fair.
• At list price, monthly cash flow is $631 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• It's been on market 129 days — a 12% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $44k (12.0% below list) — sets the bar for market timing.
• In year one you build about $3k of equity ($345 loan paydown + $2k 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).
• 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.
• 2 sale attempts since 8y ago; this cycle's ask has dropped $8k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $8k; list at $50k implies a 524% gain — meaningful room to come down on a strong offer.
• At projected returns (4.6% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 129 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• 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 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.

Repairs flagged (vision-AI assessment)

• Major: Paint — Paint appears faded and needs touch-up.
• Major: Flooring — Carpet in living room and bedrooms needs replacement.
• Major: Kitchen Countertops — Countertops need updating to modernize the kitchen.
• Major: Bathroom Fixtures — Bathtub and fixtures need updating for a modern look.