7780 Route 113

Thetford, VT 05058

$154,000B-

5 bd · 2.5 ba · 2,280 sqft · Built 1900 · MultiFamily · Active · 417 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,802/mo
• Mortgage (P&I): −$808
• Tax + insurance: −$257
• HOA: −$0
• Vac / Maint / Mgmt: −$378
• Net cashflow: $359/mo
• Annual: $4,310/yr
• Cap rate: 9.09%
• Cash-on-cash: 9.99%
• DSCR: 1.44
• 1% rule: 1.17%
• Cash to close: $43,120

Investor read

• This is a 5-bed/2.5-bath multifamily listed at $154k. Condition is rated fair.
• At list price, monthly cash flow is $359 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $154k).
• It's been on market 417 days — a 12% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $136k (12.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($1k loan paydown + $1k appreciation (0.8% local appreciation)).
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Zoned schools: Thetford Elementary School (math 32% / reading 42%, grade F, #113 of 192 statewide, top 62%, 208 students, 14% FRL).
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 3 active listings in the ZIP; 74 units permitted in Orange County in 2024 (28 in 5+ unit buildings).
• Orange County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts; this cycle's ask has dropped $21k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (0.8% appreciation + 3.0% rent growth), your $43k cash investment doubles in ~6 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 417 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?
• Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.
• 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 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.

Repairs flagged (vision-AI assessment)

• Major: siding — Significant damage and wear on the exterior siding.
• Major: exterior paint — Faded and uneven paint, indicating extensive wear.
• Major: landscaping — Minimal landscaping with debris and overgrown areas.