113 Mill Brook Rd

Fayston, VT 05673

$435,000B-

5 bd · 1.5 ba · 1,728 sqft · Built 1900 · SingleFamily · Active · 151 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,991/mo
• Mortgage (P&I): −$2,281
• Tax + insurance: −$551
• HOA: −$0
• Vac / Maint / Mgmt: −$838
• Net cashflow: $320/mo
• Annual: $3,845/yr
• Cap rate: 7.33%
• Cash-on-cash: 3.70%
• DSCR: 1.16
• 1% rule: 0.92%
• Cash to close: $121,800

Investor read

• This is a 5-bed/1.5-bath single-family listed at $435k.
• At list price, monthly cash flow is $320 ($4k/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 $399k (8.3% below list).
• It's been on market 151 days — a 12% lower offer ($383k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $383k (12.0% below list) — sets the bar for market timing.
• In year one you build about $47k of equity ($3k loan paydown + $44k appreciation (10.0% local appreciation)).
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Zoned schools: Crossett Brook Middle School (math 39% / reading 61%, grade C, #7 of 26 statewide, top 24%, 288 students, 14% FRL); Harwood Union Middle/High School (math 27% / reading 67%, grade D-, #10 of 48 statewide, top 28%, 556 students, 18% FRL).
• Watch-outs: flood insurance adds $56/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 21 active listings in the ZIP; 185 units permitted in Washington County in 2024 (30 in 5+ unit buildings).
• Washington County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $262k; list at $435k implies a 66% gain — meaningful room to come down on a strong offer.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $122k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$75k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 151 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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.