258 Elm St

Barton, VT 05822

$65,000C-

None bd · 16.0 ba · 3,686 sqft · Built 1930 · MultiFamily · Active · 288 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $7,004/mo
• Mortgage (P&I): −$341
• Tax + insurance: −$108
• HOA: −$0
• Vac / Maint / Mgmt: −$1,471
• Net cashflow: $5,084/mo
• Annual: $61,008/yr
• Cap rate: 100.15%
• Cash-on-cash: 335.21%
• DSCR: 15.91
• 1% rule: 10.78%
• Cash to close: $18,200

Investor read

• This is a 4 × 2-bed/?-bath units multifamily listed at $65k.
• At list price, monthly cash flow is $5k ($61k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $65k).
• It's been on market 288 days — a 12% lower offer ($57k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $57k (12.0% below list) — sets the bar for market timing.
• In year one you build about $3k of equity ($449 loan paydown + $2k appreciation (3.6% local appreciation)).
• Location reads 63/100 on livability (#68 in VT) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing B+, health & safety B+; Watch: crime D+, schools D-, amenities F.
• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 22 active listings in the ZIP; 157 units permitted in Orleans County in 2024 (107 in 5+ unit buildings).
• Orleans County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts; this cycle's ask has dropped $11k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (3.6% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~1 year — after that, you're playing with house money.

Questions for listing agent

• It's been on market 288 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Built in 1930 — 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.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?