818 Old Depot Rd

Arlington, VT 05262

$120,000B

1 bd · 1.0 ba · 704 sqft · Built 1940 · SingleFamily · Pending · 132 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,603/mo
• Mortgage (P&I): −$629
• Tax + insurance: −$181
• HOA: −$0
• Vac / Maint / Mgmt: −$337
• Net cashflow: $456/mo
• Annual: $5,470/yr
• Cap rate: 10.85%
• Cash-on-cash: 16.28%
• DSCR: 1.72
• 1% rule: 1.34%
• Cash to close: $33,600

Investor read

• This is a 1-bed/1.0-bath single-family listed at $120k.
• At list price, monthly cash flow is $456 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• It's been on market 132 days — a 12% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $106k (12.0% below list) — sets the bar for market timing.
• In year one you build about $889 of equity ($830 loan paydown + $59 appreciation (0.1% local appreciation)).
• Location reads 58/100 on livability (#104 in VT) — a working-class tenant base; expect higher turnover. Strengths: crime A+, housing B+, cost of living B; Watch: schools C-, employment C-, health & safety D.
• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 19 active listings in the ZIP; 59 units permitted in Bennington County in 2024 (0 in 5+ unit buildings).
• Bennington County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 4y 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 $79k; list at $120k implies a 52% gain — meaningful room to come down on a strong offer.
• At projected returns (0.1% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~5 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 132 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1940 — 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 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.