73 Corliss Rd

St. Albans, VT 05478

$80,000B

4 bd · 1.0 ba · 1,410 sqft · Built 1960 · Other · Pending · 14 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,869/mo
• Mortgage (P&I): −$420
• Tax + insurance: −$219
• HOA: −$0
• Vac / Maint / Mgmt: −$392
• Net cashflow: $837/mo
• Annual: $10,047/yr
• Cap rate: 18.85%
• Cash-on-cash: 44.85%
• DSCR: 3.00
• 1% rule: 2.34%
• Cash to close: $22,400

Investor read

• This is a 4-bed/1.0-bath other listed at $80k.
• At list price, monthly cash flow is $837 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $80k).
• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $553 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Zoned schools: St. Albans City Elementary School (math 24% / reading 38%, grade F, #135 of 192 statewide, top 70%, 718 students, 56% FRL).
• Watch-outs: property tax is 2.8% of price.
• Market conditions: 123 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~3 years — after that, you're playing with house money.
• Cap rate 18.9% vs local median 2.4% in St. Albans — 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.

Questions for listing agent

• Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• 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 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.