1 Prestons Park · Rutland, VT 05701

$59,900

2 bd · 1.5 ba · 1,008 sqft · Manufactured public records · 176 Days on market

Built 1985 $59/sqft · 59% below area $525/mo HOA · 33% of rent

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Why this score? — see what drove the B grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

RUTLAND CITY: 1985 2-bedroom Single-wide Manufactured Home, deck and shed on a leased lot. Furnace is 2 years old, central air, property insulated by BROC. This is a nicely maintained mobile home park and purchase is subject to mobile home park approval, credit score - 680+, no dogs, max. 4 occupants, no renting, $525/month rent for leased lot. Trailer intended to stay on lot. Close to hospital, shopping, restaurants, airport and skiing. Cash purchase required (no financing accepted). Call today for an appointment.

Key facts

• Shed
• Deck
• Central air

Tags

• DECK
• SHED
• CENTRAL AIR

🏷️ Possibly a rental listed for sale. The $59,900 price doesn't fit this home's estimated sale value (~$145,066) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath manufactured listed at $60k.

Deal economics

• At list price, monthly cash flow is $358 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $60k).
• Recommended offer: $53k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.5% vs local median 4.3% in Rutland — 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.

Location & tenants

• Location reads 81/100 on livability (#6 in VT, #1,410 nationally) — a professional / high-income tenant draw. Strengths: schools A+, commute A+, cost of living A+; Watch: employment C-, crime F.
• Market conditions: 97 active listings in the ZIP; 90 units permitted in Rutland County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $414 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Rutland County population projected at -28% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 176 days — a 12% lower offer ($53k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 16y ago; this cycle's ask has dropped $5k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $31k; list at $60k implies a 93% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 33% of rent.

Recommended offer $52,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 176 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. Crime grade is F 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?
7. 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.
8. 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.
9. 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.

Investment metrics

• 1% rule: 2.66% ✓
• Cap rate: 13.46%
• Cash-on-cash: 25.59%
• DSCR: 2.14
• GRM: 3.1

CMA / ARV

• ARV (median comp): $145,066
• List price: $59,900
• Delta: -58.71%
• Verdict: UNDERPRICED
• Comps: 2 within 2.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
10 Preston Park	0.00mi	2/1.0	980 (-3%)	19mo	$60,000	$61	77
93 Jackson Ave	0.55mi	2/2.0	1,076 (+7%)	11mo	$220,500	$205	52
18a Billings Mobile Mnr	0.38mi	2/1.0	924 (-8%)	22mo	$78,000	$84	48

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 19.6%
• Equity multiple: 1.80×
• Total profit: $13,392
• Equity at exit: $8,931

10-year hold

• IRR: 28.1%
• Equity multiple: 3.52×
• Total profit: $42,299
• Equity at exit: $5,179

Cash invested: $16,772 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 41 Moderately Tenant-Leaning
• State Vermont: 41 Moderately Tenant-Leaning · D+15
• County: — inherits STATE
• City: — inherits STATE

Just-cause in Burlington (2022); strong habitability.

Methodology + full state rankings →

ZIP-level market 05701

• Home prices YoY: -18.1%
• Active inventory: 97
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $1,591 medium
• Mortgage (P&I): −$314
• Tax from tax record: −$35 /mo · $419/yr
• Insurance: −$25
• HOA: −$525
• Vacancy / Maint / Mgmt: −$334
• Net cashflow: $358

Break-even live

Break-even rent $1,138

Max offer price $59,900

Occupancy floor 73%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $525 · $6,300/yr

Listing history 34 events

1. 2026-06-18
   days on market $59,900 Active 176 DOM
2. 2026-06-17
   days on market $59,900 Active 175 DOM
3. 2026-06-16
   days on market $59,900 Active 174 DOM
4. 2026-06-15
   days on market $59,900 Active 173 DOM
5. 2026-06-15
   days on market $59,900 Active 172 DOM
6. 2026-06-13
   days on market $59,900 Active 171 DOM
7. 2026-06-12
   days on market $59,900 Active 170 DOM
8. 2026-06-09
   days on market $59,900 Active 167 DOM
9. 2026-06-08
   days on market $59,900 Active 166 DOM
10. 2026-06-08
    pricedays on market $59,900 Active 165 DOM
11. 2026-06-07
    days on market $62,000 Active 164 DOM
12. 2026-06-03
    days on market $62,000 Active 161 DOM
13. 2026-06-02
    days on market $62,000 Active 160 DOM
14. 2026-06-01
    days on market $62,000 Active 159 DOM
15. 2026-05-31
    days on market $62,000 Active 158 DOM
16. 2026-05-08
    status Active 520-char remark

    Show marketing remark (520 chars)

    RUTLAND CITY: 1985 2-bedroom Single-wide Manufactured Home, deck and shed on a leased lot. Furnace is 2 years old, central air, property insulated by BROC. This is a nicely maintained mobile home park and purchase is subject to mobile home park approval, credit score - 680+, no dogs, max. 4 occupants, no renting, $525/month rent for leased lot. Trailer intended to stay on lot. Close to hospital, shopping, restaurants, airport and skiing. Cash purchase required (no financing accepted). Call today for an appointment.

17. 2026-04-24
    status Pending 520-char remark

    Show marketing remark (520 chars)

    RUTLAND CITY: 1985 2-bedroom Single-wide Manufactured Home, deck and shed on a leased lot. Furnace is 2 years old, central air, property insulated by BROC. This is a nicely maintained mobile home park and purchase is subject to mobile home park approval, credit score - 680+, no dogs, max. 4 occupants, no renting, $525/month rent for leased lot. Trailer intended to stay on lot. Close to hospital, shopping, restaurants, airport and skiing. Cash purchase required (no financing accepted). Call today for an appointment.

18. 2026-04-13
    price $62,000 520-char remark

    Show marketing remark (520 chars)

    RUTLAND CITY: 1985 2-bedroom Single-wide Manufactured Home, deck and shed on a leased lot. Furnace is 2 years old, central air, property insulated by BROC. This is a nicely maintained mobile home park and purchase is subject to mobile home park approval, credit score - 680+, no dogs, max. 4 occupants, no renting, $525/month rent for leased lot. Trailer intended to stay on lot. Close to hospital, shopping, restaurants, airport and skiing. Cash purchase required (no financing accepted). Call today for an appointment.

19. 2025-12-08
    listed $65,000 Active 520-char remark

    Show marketing remark (520 chars)

    RUTLAND CITY: 1985 2-bedroom Single-wide Manufactured Home, deck and shed on a leased lot. Furnace is 2 years old, central air, property insulated by BROC. This is a nicely maintained mobile home park and purchase is subject to mobile home park approval, credit score - 680+, no dogs, max. 4 occupants, no renting, $525/month rent for leased lot. Trailer intended to stay on lot. Close to hospital, shopping, restaurants, airport and skiing. Cash purchase required (no financing accepted). Call today for an appointment.

20. 2017-10-12
    soldstatus $31,000
21. 2017-05-25
    soldstatus $16,000
22. 2015-11-13
    soldstatus $14,000 Closed 242-char remark

    Show marketing remark (242 chars)

    This 2 bedroom 2 bath mobile home has been very well maintained. Living room carpet, laminate floor in kitchen and furnace motor have all been replaced. The ceiling and walls have updated as well. All this in a nicely maintained park. No Dogs

23. 2015-11-13
    soldstatus $14,000 Closed

    Show marketing remark (242 chars)

    This 2 bedroom 2 bath mobile home has been very well maintained. Living room carpet, laminate floor in kitchen and furnace motor have all been replaced. The ceiling and walls have updated as well. All this in a nicely maintained park. No Dogs

24. 2015-11-05
    historical Active with Contract 242-char remark

    Show marketing remark (242 chars)

    This 2 bedroom 2 bath mobile home has been very well maintained. Living room carpet, laminate floor in kitchen and furnace motor have all been replaced. The ceiling and walls have updated as well. All this in a nicely maintained park. No Dogs

25. 2015-11-05
    status Pending

    Show marketing remark (242 chars)

    This 2 bedroom 2 bath mobile home has been very well maintained. Living room carpet, laminate floor in kitchen and furnace motor have all been replaced. The ceiling and walls have updated as well. All this in a nicely maintained park. No Dogs

26. 2015-10-29
    historical Active with Contract
27. 2015-10-09
    price $15,000 242-char remark

    Show marketing remark (242 chars)

    This 2 bedroom 2 bath mobile home has been very well maintained. Living room carpet, laminate floor in kitchen and furnace motor have all been replaced. The ceiling and walls have updated as well. All this in a nicely maintained park. No Dogs

28. 2015-10-03
    price $15,000
29. 2015-07-02
    listed $17,500 Active 242-char remark

    Show marketing remark (242 chars)

    This 2 bedroom 2 bath mobile home has been very well maintained. Living room carpet, laminate floor in kitchen and furnace motor have all been replaced. The ceiling and walls have updated as well. All this in a nicely maintained park. No Dogs

30. 2015-07-02
    listed $17,500 Active

    Show marketing remark (242 chars)

    This 2 bedroom 2 bath mobile home has been very well maintained. Living room carpet, laminate floor in kitchen and furnace motor have all been replaced. The ceiling and walls have updated as well. All this in a nicely maintained park. No Dogs

31. 2010-11-23
    soldstatus $19,900
32. 2010-11-01
    soldstatus $19,900
33. 2010-10-13
    listed $19,900
34. 1997-08-11
    soldstatus $25,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast VT · Partial reset (capped growth)

• Current annual tax: $419 · $35/mo
• Projected year-2 tax: $778 · $65/mo
• Expected delta: +$360/yr (+$30/mo · 85.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌡 Heat 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,087
• − Mortgage interest: −$3,355
• − Property taxes: −$419
• − Insurance: −$300
• − Repairs & maintenance: −$1,527
• − Management: −$1,527
• − HOA: −$6,300
• − Depreciation: −$1,743
• Taxable income: $3,917
• Est. tax owed @ 24.0%: −$940
• After-tax cash flow: $3,351/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

No district data.

Livability — Rutland

• Score: 81/100
• State rank: #6
• US rank: #1410

Category grades

Amenities A- Commute A+ Cost of living A+ Crime F Employment C- Housing A- Health & safety A+ User ratings D

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rutland, VT
• Population (ZIP): 20,142

Population outlook (Rutland County) Hauer SSP2

• Today (2025): 55,307 people
• By 2030: 52,364 · -5.3%
• By 2040: 45,751 · -17.3%
• By 2050: 39,627 · -28.4%
• By 2075: 29,080 · -47.4%
• By 2100: 20,673 · -62.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Lithuanian 14% Romanian 6% Slovak 3%
• Foreign-born: 2% · Canada
• Languages at home: 94% English-only · Spanish 3% French/Haitian/Cajun 1% Other Asian/Pacific 1%

Political lean MEDSL · Rutland

• 2024 margin: Lean D (+5.3) · D 51.3% · R 46.0% · Other 2.7%
• 2008→2024 swing: -19.3pp toward R · 2008: 24.6pp · 2024: 5.3pp
• All cycles: 2024: D+5.3 2020: D+10.5 2016: D+4.2 2012: D+22.0 2008: D+24.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -63.90%
• Current HPI: 288.4214
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+148.0% since first listed

19 events — show timeline

• 2026-05-08 Relisted — PrimeMLS
• 2026-04-24 Pending — PrimeMLS
• 2026-04-13 Price Changed $62,000 PrimeMLS
• 2025-12-08 Listed $65,000 PrimeMLS
• 2017-10-12 Sold (Public Records) $31,000 Public Records
• 2017-05-25 Sold (Public Records) $16,000 Public Records
• 2015-11-13 Sold (MLS) $14,000 PrimeMLS
• 2015-11-13 Sold (MLS) $14,000 PrimeMLS
• 2015-11-05 Contingent — PrimeMLS
• 2015-11-05 Pending — PrimeMLS
• 2015-10-29 Contingent — PrimeMLS
• 2015-10-09 Price Changed $15,000 PrimeMLS
• 2015-10-03 Price Changed $15,000 PrimeMLS
• 2015-07-02 Listed $17,500 PrimeMLS
• 2015-07-02 Listed $17,500 PrimeMLS
• 2010-11-23 Sold (MLS) $19,900 PrimeMLS
• 2010-11-01 Sold (Public Records) $19,900 Public Records
• 2010-10-13 Listed $19,900 PrimeMLS
• 1997-08-11 Sold (Public Records) $25,000 Public Records

Property tax history

-6.8%/yr

Latest (2024): $419 · +6.3% YoY. Source: county tax records.