40 Union St · White River Junction, VT 05001

$329,000

4 bd · 2.0 ba · 1,373 sqft · MultiFamily public records · 272 Days on market

Built 1900 8,712 sqft lot

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Why this score? — see what drove the C+ 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 +26.5/30.0
• DSCR +9.0/10.0
• ARV discount +7.5/15.0
• 1% rule +6.0/10.0
• Schools +5.0/10.0
• Livability +4.4/5.0
• Rent growth +2.5/5.0
• Condition / age +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: 2 units. confirmed

Listing remarks

Good Cash Flow! Possibilty of Commercial business aspect exists with this property as its in the CB zone / Central Business district. This fully leased two unit property is an excellent chance for investors to add a consistent cash flowing building to their portfolio or for an onsite owner to occupy one unit and let the extra additional rent help pay for your housing. A fairly low maintenance property with some updates which include asphalt roof, vinyl siding, some vinyl windows, laminate floors and a refresh of the porch and rails which was done several years ago! Inside you will find spacious rooms and wonderful original wood trims. Outside enjoy a nice, level, easy to mow, .20 +/- acre i

Key facts

• Vinyl windows
• Laminate floors
• Asphalt roof

Tags

• FULLY LEASED TWO UNIT PROPERTY
• ASPHALT ROOF
• VINYL SIDING
• VINYL WINDOWS
• LAMINATE FLOORS
• REFRESH OF THE PORCH

Property features AI

Finance

• Other: Total finished area and overall size recorded (details available in listing); Property marketed as a 2-unit multifamily with annual leases

Exterior

• Parking: Shared/common driveway
• Utilities: Public water; Public sewer; Electric with circuit breakers (Green Mountain Power); Cable and telephone available; Fiber optic and high-speed internet available; Utilities vary (accounting/arrangements may differ)
• Home design: New Englander style; Existing structure; Gray exterior color; Vinyl siding
• Construction: Built in 1900; Vinyl siding construction; Asphalt shingle roof; Unfinished basement
• Exterior features: Common/shared driveway; Paved, public maintained road frontage

Interior

• Kitchen: Unit 1: Electric range, refrigerator; Unit 2: Electric range, refrigerator
• Bedrooms: Two 2-bedroom units (Unit 1 on level 1; Unit 2 on level 2)
• Flooring: Laminate flooring; Vinyl flooring
• Bathrooms: Each unit has 1 bathroom (total 2 full bathrooms)
• Heating & cooling: Oil-fired forced air heating; No central cooling
• Interior features: Basement present with interior access; unfinished/other basement; Level, open lot setting located in town near shopping and schools
• Laundry & utility: No specific in-unit laundry listed

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $329k.

Deal economics

• At list price, monthly cash flow is $809 ($10k/yr) — positive. Per door: $405/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $329k).
• Recommended offer: $290k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 88/100 on livability (#2 in VT, #185 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, commute A+.
• Zoned schools: White River School (math 37% / reading 47%, grade F, #84 of 192 statewide, top 48%, 198 students, 43% FRL).
• Market conditions: 58 active listings in the ZIP; solid renter incomes; 339 units permitted in Windsor County in 2024 (240 in 5+ unit buildings).
• At $3,622/mo this rent would consume 56% of the median local household income ($78k/yr) (locally 227% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Windsor County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 272 days — a 12% lower offer ($290k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $289,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 272 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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.
9. 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.
10. 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: 1.10% ✓
• Cap rate: 9.45%
• Cash-on-cash: 11.27%
• DSCR: 1.50
• GRM: 7.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -0.5%
• Equity multiple: 0.98×
• Total profit: $-1,845
• Equity at exit: $49,055

10-year hold

• IRR: 9.1%
• Equity multiple: 1.70×
• Total profit: $64,440
• Equity at exit: $28,446

Cash invested: $92,120 (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 05001

• Home prices YoY: -3.5%
• Active inventory: 58
• Price-to-rent: 15.1×

Monthly cashflow live

• Estimated rent: $3,622 medium
• Mortgage (P&I): −$1,725
• Tax from tax record: −$134 /mo · $1,609/yr
• Insurance: −$137
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$761
• Net cashflow: $809

Break-even live

Break-even rent $2,597

Max offer price $329,000

Occupancy floor 73%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,622
Total (2 units)			$3,622

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: $82,250
• Closing costs: $9,870
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-19
   days on market $329,000 Active 272 DOM
2. 2026-06-18
   days on market $329,000 Active 271 DOM
3. 2026-06-17
   days on market $329,000 Active 270 DOM
4. 2026-06-16
   days on market $329,000 Active 269 DOM
5. 2026-06-15
   days on market $329,000 Active 268 DOM
6. 2026-06-14
   days on market $329,000 Active 266 DOM
7. 2026-06-12
   days on market $329,000 Active 265 DOM
8. 2026-06-09
   days on market $329,000 Active 262 DOM
9. 2026-06-08
   days on market $329,000 Active 261 DOM
10. 2026-06-07
    days on market $329,000 Active 260 DOM
11. 2026-06-05
    days on market $329,000 Active 257 DOM
12. 2026-06-03
    days on market $329,000 Active 256 DOM
13. 2026-06-02
    days on market $329,000 Active 255 DOM
14. 2026-06-01
    days on market $329,000 Active 254 DOM
15. 2026-05-31
    days on market $329,000 Active 253 DOM
16. 2026-05-30
    days on market $329,000 Active 252 DOM
17. 2025-09-19
    listed $329,000 Active
18. 2017-08-09
    price $127,400
19. 2016-11-18
    price $134,900

ⓘ 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: $1,609 · $134/mo
• Projected year-2 tax: $3,930 · $327/mo
• Expected delta: +$2,321/yr (+$193/mo · 144.3%)

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

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 75% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥94°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 4% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $43,464
• − Mortgage interest: −$18,429
• − Property taxes: −$1,609
• − Insurance: −$2,312
• − Repairs & maintenance: −$3,477
• − Management: −$3,477
• − Depreciation: −$9,571
• Taxable income: $4,589
• Est. tax owed @ 24.0%: −$1,101
• After-tax cash flow: $8,611/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 — White River Junction

• Score: 88/100
• State rank: #2
• US rank: #185

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: White River Junction, VT
• County: Windsor County · 9,751 people
• Metro: Lebanon, NH-VT
• Population (ZIP): 9,751
• Household income: $78,092
• Rent vs Own: 32.8% rent · 67.2% own
• Severe rent burden: 227.0

Population outlook (Windsor County) Hauer SSP2

• Today (2025): 53,235 people
• By 2030: 51,269 · -3.7%
• By 2040: 46,517 · -12.6%
• By 2050: 41,859 · -21.4%
• By 2075: 33,298 · -37.5%
• By 2100: 24,523 · -53.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 3% Asian 3% Hispanic / Latino 2%
• Common ancestry: Lithuanian 6% Slovak 5% Romanian 4%
• Foreign-born: 6% · Canada, China, Philippines
• Languages at home: 95% English-only · Other Indo-European 2% Spanish 1% Other Asian/Pacific 1%

Political lean MEDSL · Windsor

• 2024 margin: Solid D (+35.6) · D 66.3% · R 30.7% · Other 2.9%
• 2008→2024 swing: -4.1pp toward R · 2008: 39.7pp · 2024: 35.6pp
• All cycles: 2024: D+35.6 2020: D+38.9 2016: D+32.1 2012: D+38.1 2008: D+39.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -12.43%
• Current HPI: 338.3801
• Rent YoY: —
• Metro: Lebanon, NH-VT
• State GDP YoY: —
• F500 in state: 0

Price history

+143.9% since first listed

3 events — show timeline

• 2025-09-19 Listed $329,000 PrimeMLS
• 2017-08-09 Price Changed $127,400 PrimeMLS
• 2016-11-18 Price Changed $134,900 PrimeMLS

Property tax history

-4.8%/yr

Latest (2024): $1,609 · +16.3% YoY. Source: county tax records.