32-34 Sage St · North Bennington, VT 05257

$190,000

4 bd · 2.0 ba · 1,478 sqft · MultiFamily · 358 Days on market

Built 1900 0.37 ac lot ↓ 16% since listing

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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 +26.3/30.0
• DSCR +8.9/10.0
• ARV discount +7.5/15.0
• 1% rule +7.0/10.0
• Appreciation +6.3/10.0
• Schools +5.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Duplex in North Bennington offering 1 way street location. decent yard and 2 - 2 bedroom units. Good investment potential in a walkable and sought location. Town water and sewer. Current tenants keep their units up well.

Key facts

• Decent yard
• Town sewer
• Investment potential

Tags

• 1 WAY STREET LOCATION
• DECENT YARD
• INVESTMENT POTENTIAL
• WALKABLE LOCATION
• TOWN WATER
• TOWN SEWER

Property features AI

Exterior

• Parking: Dirt driveway
• Utilities: Public sewer; Public water; High-speed internet available; Cable available; Telephone available
• Home design: Duplex; Existing property
• Construction: Wood frame construction; Shingle roof; Built in 1900
• Exterior features: Level lot in town; Paved, public road frontage

Interior

• Kitchen: Appliances included in both units
• Bedrooms: Unit 1 has 3 bedrooms; Unit 2 has 2 bedrooms
• Bathrooms: Unit 1 has 1 full bathroom; Unit 2 has 1 full bathroom; Two full bathrooms total
• Heating & cooling: Baseboard heating; Hot air heating; Hot water heating; No central cooling
• Interior features: Basement with interior access; Full basement with dirt floor and interior stairs; Five rooms in Unit 1; Four rooms in Unit 2
• Laundry & utility: Electric service with circuit breaker(s)

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $190k.

Deal economics

• At list price, monthly cash flow is $493 ($6k/yr) — positive. Per door: $246/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $190k).
• Recommended offer: $167k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#65 in VT) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+; Watch: employment C-, health & safety D, schools D-.
• Market conditions: 10 active listings in the ZIP; 59 units permitted in Bennington County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($1k loan paydown + $5k appreciation (2.6% local appreciation)).
• Bennington County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.6% appreciation + 3.0% rent growth), your $53k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 358 days — a 12% lower offer ($167k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $35k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $167,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 358 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.20% ✓
• Cap rate: 9.41%
• Cash-on-cash: 11.12%
• DSCR: 1.49
• GRM: 6.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

2.64% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 17.1%
• Equity multiple: 1.95×
• Total profit: $50,740
• Equity at exit: $81,629

10-year hold

• IRR: 18.8%
• Equity multiple: 3.65×
• Total profit: $141,221
• Equity at exit: $122,919

Cash invested: $53,200 (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 05257

• Home prices YoY: 1.1%
• Active inventory: 10
• Price-to-rent: 13.9×

Monthly cashflow live

• Estimated rent: $2,286 medium
• Mortgage (P&I): −$996
• Tax est. 1.5%: −$238 /mo · $2,850/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$480
• Net cashflow: $493

Break-even live

Break-even rent $1,662

Max offer price $190,000

Occupancy floor 73%

Sensitivity live

Price	-10% $624	-5% $559	+0% $493	+5% $427	+10% $362
Rent	-10% $312	-5% $403	+0% $493	+5% $583	+10% $673
Rate	-1.0pp $589	-0.5pp $541	base $493	+0.5pp $444	+1.0pp $394

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,286
Total (2 units)			$2,286

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-04-17
   status Pending
2. 2026-03-27
   status Active
3. 2026-03-26
   historical
4. 2026-01-20
   status Active
5. 2026-01-01
   historical Active with Contract
6. 2025-10-20
   price $190,000
7. 2025-10-20
   status Active
8. 2025-09-26
   historical
9. 2025-06-19
   price $199,900
10. 2025-03-26
    listed $225,000 Active

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

Climate risk First Street

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

Taxation est. · year 1

• Rental income: $27,432
• − Mortgage interest: −$10,643
• − Property taxes: −$2,850
• − Insurance: −$950
• − Repairs & maintenance: −$2,195
• − Management: −$2,195
• − Depreciation: −$5,527
• Taxable income: $3,073
• Est. tax owed @ 24.0%: −$737
• After-tax cash flow: $5,177/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 — North Bennington

• Score: 64/100
• State rank: #65
• US rank: #14834

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Bennington, VT
• Population (ZIP): 2,891

Population outlook (Bennington County) Hauer SSP2

• Today (2025): 34,407 people
• By 2030: 32,975 · -4.2%
• By 2040: 29,711 · -13.6%
• By 2050: 26,638 · -22.6%
• By 2075: 21,318 · -38.0%
• By 2100: 16,086 · -53.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Two or more races 7% Hispanic / Latino 4% Asian 2% Black 1% Native American 1%
• Common ancestry: Lithuanian 6% Romanian 4% Slovak 3%
• Foreign-born: 4% · China, Canada
• Languages at home: 95% English-only · French/Haitian/Cajun 1% Other Asian/Pacific 1% Chinese 1%

Political lean MEDSL · Bennington

• 2024 margin: Strong D (+22.5) · D 60.0% · R 37.5% · Other 2.6%
• 2008→2024 swing: -10.9pp toward R · 2008: 33.4pp · 2024: 22.5pp
• All cycles: 2024: D+22.5 2020: D+27.3 2016: D+22.1 2012: D+33.3 2008: D+33.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.64%
• Current HPI: 241.384
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-15.6% since first listed

10 events — show timeline

• 2026-04-17 Pending — PrimeMLS
• 2026-03-27 Relisted — PrimeMLS
• 2026-03-26 Delisted — PrimeMLS
• 2026-01-20 Relisted — PrimeMLS
• 2026-01-01 Contingent — PrimeMLS
• 2025-10-20 Price Changed $190,000 PrimeMLS
• 2025-10-20 Relisted — PrimeMLS
• 2025-09-26 Delisted — PrimeMLS
• 2025-06-19 Price Changed $199,900 PrimeMLS
• 2025-03-26 Listed $225,000 PrimeMLS