5513 Main St · Waitsfield, VT 05673

$500,000

3 bd · 3.0 ba · 2,500 sqft · MultiFamily · 12 Days on market

Built 1968 Good condition 0.49 ac lot

---

Why this score? — see what drove the A- 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Condition / age +4.0/5.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0

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

High visibility Route 100 exposure with close proximity to Waitsfield shopping and services. Main floor commercial space with large reception, conference room and 3 private offices. Spacious 2 bedroom second floor apartment can easily be converted to offices. Mad River Bike Path. Owner/Broker

Key facts

• Large reception
• Private offices
• Mad river bike path

Tags

• ROUTE 100 EXPOSURE
• LARGE RECEPTION
• CONFERENCE ROOM
• PRIVATE OFFICES
• MAD RIVER BIKE PATH

Property features AI

Finance

• Other: Property located at intersection of Rte 100 and Rte 17

Exterior

• Utilities: Drilled well water; 1000-gallon septic with drywell; Electric service with circuit breakers (GMP); LP/bottle gas available; Fuel supplier: Bournes; Fiber optic internet; Multiple phone lines
• Home design: Cape-style home; Existing construction; Gray clapboard exterior; Shingle (asphalt) roof; Built in 1968
• Construction: Clapboard exterior; Shingle (asphalt) roof; Built in 1968; Basement with walk-up access; Basement features: bulkhead access, dirt floor, insulated, sump pump
• Exterior features: Landscaped lot; Level lot; Walking trails on the property; In-town location near shopping; Gravel driveway; Paved, public maintained road frontage (approximately 306' frontage); Surveyed

Interior

• Kitchen: Kitchen on the 2nd level
• Bedrooms: Bedrooms located on the 2nd level
• Bathrooms: 2 full bathrooms; 2 quarter bathrooms
• Heating & cooling: Propane heating; Baseboard heating; Gas heater; Gas stove; Wall AC units
• Interior features: 12 total rooms; Great Room; Library; Mudroom

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath multifamily listed at $500k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $3k ($35k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $500k).
• Cap rate 13.3% vs local median 2.1% in Waitsfield — 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 68/100 on livability (#37 in VT) — a middle-class / working-renter tenant base. Strengths: crime A+, health & safety A, housing B; Watch: amenities F, commute F, employment F.
• Zoned schools: Waitsfield Elementary School (math 57% / reading 72%, grade B, #5 of 192 statewide, top 4%, 168 students, 30% FRL).
• Market conditions: 21 active listings in the ZIP; 185 units permitted in Washington County in 2024 (30 in 5+ unit buildings).

Forward outlook

• In year one you build about $53k of equity ($3k loan paydown + $50k appreciation (10.0% local appreciation)).
• Washington County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $140k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$86k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 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.

Recommended offer $500,000

Questions for the listing agent

1. Built in 1968 — 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 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?
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: 1.62% ✓
• Cap rate: 13.32%
• Cash-on-cash: 25.08%
• DSCR: 2.12
• GRM: 5.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 43.2%
• Equity multiple: 4.28×
• Total profit: $458,808
• Equity at exit: $450,440

10-year hold

• IRR: 37.3%
• Equity multiple: 9.61×
• Total profit: $1,204,795
• Equity at exit: $971,390

Cash invested: $140,000 (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 05673

• Home prices YoY: 14.8%
• Active inventory: 21
• Price-to-rent: 15.5×

Monthly cashflow live

• Estimated rent: $8,078 medium
• Mortgage (P&I): −$2,622
• Tax est. 1.5%: −$625 /mo · $7,500/yr
• Insurance: −$208
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,696
• Net cashflow: $2,926

Break-even live

Break-even rent $4,374

Max offer price $500,000

Occupancy floor 59%

Sensitivity live

Price	-10% $3,272	-5% $3,099	+0% $2,926	+5% $2,753	+10% $2,581
Rent	-10% $2,288	-5% $2,607	+0% $2,926	+5% $3,245	+10% $3,564
Rate	-1.0pp $3,178	-0.5pp $3,053	base $2,926	+0.5pp $2,797	+1.0pp $2,665

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$8,079
Total (3 units)			$8,078

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: $125,000
• Closing costs: $15,000
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-06-02
   days on market $500,000 Active 12 DOM
2. 2026-06-01
   days on market $500,000 Active 11 DOM
3. 2026-05-31
   days on market $500,000 Active 10 DOM
4. 2026-05-31
   days on market $500,000 Active 9 DOM
5. 2026-05-21
   listed $500,000 Active 293-char remark

   Show marketing remark (293 chars)

   High visibility Route 100 exposure with close proximity to Waitsfield shopping and services. Main floor commercial space with large reception, conference room and 3 private offices. Spacious 2 bedroom second floor apartment can easily be converted to offices. Mad River Bike Path. Owner/Broker

6. 2026-05-21
   listed $500,000 Active

   Show marketing remark (293 chars)

   High visibility Route 100 exposure with close proximity to Waitsfield shopping and services. Main floor commercial space with large reception, conference room and 3 private offices. Spacious 2 bedroom second floor apartment can easily be converted to offices. Mad River Bike Path. Owner/Broker

ⓘ 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

• 🌡 Heat 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $96,936
• − Mortgage interest: −$28,008
• − Property taxes: −$7,500
• − Insurance: −$2,500
• − Repairs & maintenance: −$7,755
• − Management: −$7,755
• − Depreciation: −$14,545
• Taxable income: $28,873
• Est. tax owed @ 24.0%: −$6,930
• After-tax cash flow: $28,185/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 · 14 photos

Good 80/100 Cosmetic rehab

This property is in good condition with no visible damage or wear. It has a good roof, exterior siding, paint, flooring, interior walls, bathrooms, kitchen, and systems. The property has good landscaping and curb appeal. The property has a good roof, exterior siding, paint, flooring, interior walls, bathrooms, kitchen, and systems. The property has good landscaping and curb appeal. The property has good landscaping and curb appeal.

Value-add opportunities

• Both Painting the exterior siding and repainting the interior walls — Painting will improve the curb appeal and interior aesthetics, making the property more attractive to potential buyers and renters.
• Both Updating the flooring — Updating the flooring will improve the overall look and feel of the property, making it more attractive to potential buyers and renters.
• Both Upgrading the kitchen appliances — Upgrading the kitchen appliances will make the property more appealing to potential buyers and renters, as it will be more modern and functional.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior siding and repainting the interior walls — Painting will improve the curb appeal and interior aesthetics, making the property more attractive to potential buyers and renters. ↑
• Both Updating the flooring — Updating the flooring will improve the overall look and feel of the property, making it more attractive to potential buyers and renters. ↑
• Both Upgrading the kitchen appliances — Upgrading the kitchen appliances will make the property more appealing to potential buyers and renters, as it will be more modern and functional. ↑

ⓘ 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 — Waitsfield

• Score: 68/100
• State rank: #37
• US rank: #9382

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Waitsfield, VT
• Population (ZIP): 2,465

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 (94%)
• Race & ethnicity: White 94% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Italian 5% Lithuanian 4% Danish 3%
• Foreign-born: 4% · Canada
• Languages at home: 98% English-only · French/Haitian/Cajun 1% Spanish 1% Other Indo-European 0%

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: ▲ 49.14%
• Current HPI: 380.3453
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+0.0% since first listed

2 events — show timeline

• 2026-05-21 Listed $500,000 PrimeMLS
• 2026-05-21 Listed $500,000 PrimeMLS