690 VT Route 105

Highgate Center, VT 05483

$209,900D+

2 bd · 1.0 ba · 858 sqft · Built 2012 · Manufactured · Pending · 3 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,698/mo
• Mortgage (P&I): −$1,101
• Tax + insurance: −$205
• HOA: −$0
• Vac / Maint / Mgmt: −$356
• Net cashflow: $35/mo
• Annual: $426/yr
• Cap rate: 6.50%
• Cash-on-cash: 0.72%
• DSCR: 1.03
• 1% rule: 0.81%
• Cash to close: $58,772

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $210k.
• At list price, monthly cash flow is $35 ($426/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $170k (19.1% below list).
• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $170k (19.1% below list) — sets the bar for 1% rule.
• In year one you build about $14k of equity ($1k loan paydown + $13k appreciation (6.1% local appreciation)).
• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Zoned schools: Sheldon Elementary School (math 32% / reading 42%, grade F, #113 of 192 statewide, top 62%, 335 students, 38% FRL).
• Market conditions: 15 active listings in the ZIP; 200 units permitted in Franklin County in 2024 (25 in 5+ unit buildings).
• Franklin County population projected to shrink 3% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 4 sale attempts since 10y 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 $135k; list at $210k implies a 55% gain — meaningful room to come down on a strong offer.
• At projected returns (6.1% appreciation + 3.0% rent growth), your $59k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• 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.