23 Hanna Rd · Highgate Center, VT 05459

$75,000

3 bd · 2.0 ba · 2,035 sqft · SingleFamily public records · 320 Days on market

Built 1880 0.48 ac lot

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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
• Appreciation +7.2/10.0
• Schools +5.0/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Chk out this cute and cozy cottage with views of the Missisquoi river. A little over 2000 sq ft of living space. Hardwood floors in the living room, Master br with bath and walk in closet. Many up dates to this home. 10 minutes to I89.

Key facts

• River views
• 0.48 acre lot
• 2 garage spots

Tags

• RIVER VIEWS
• TRANQUIL SURROUNDINGS
• PICTURESQUE LANDSCAPE

Property features AI

Exterior

• Parking: 2-car garage; Crushed stone driveway
• Utilities: Septic system; Drilled well; 100 Amp electric service; High-speed internet available; Cable and telephone at site
• Home design: Bungalow-style home; Existing construction; Tan exterior color; Metal and asphalt shingle roof; Built in 1880
• Construction: Vinyl siding; Partial basement / crawl space
• Exterior features: Corner lot in a country setting; Water view of the Missisquoi River

Interior

• Kitchen: Kitchen (11 x 20); Exhaust hood; Refrigerator; Electric stove
• Bedrooms: Master bedroom suite on 2nd level (15 x 15); Bedroom on 2nd level (12 x 13); Bedroom on 2nd level (8 x 15)
• Flooring: Carpet; Hardwood; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Oil heating; Forced air; Hot air
• Interior features: 8 total rooms; Crawl space and partial basement with interior access

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $729 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $75k).
• Recommended offer: $66k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Zoned schools: Highgate Elementary School (math 42% / reading 62%, grade C-, #44 of 192 statewide, top 24%, 273 students, 32% FRL).
• Market conditions: 25 active listings in the ZIP; 200 units permitted in Franklin County in 2024 (25 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($519 loan paydown + $3k appreciation (4.5% local appreciation)).
• Franklin County population projected to shrink 3% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (4.5% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 320 days — a 12% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 26y ago; this cycle's ask has dropped $120k (62%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.0% of price; flood insurance adds $56/mo; built in 1880 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $66,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 320 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1880 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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: 2.36% ✓
• Cap rate: 18.85%
• Cash-on-cash: 44.85%
• DSCR: 3.00
• GRM: 3.5

CMA / ARV

• ARV (on-the-fly): $295,075
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6507 VT Route 78	0.03mi	4/2.0 (+1)	2,096 (+3%)	9mo	$300,000	$143	81
27 Meadow Ln	0.40mi	3/1.0	2,258 (+11%)	24mo	$328,000	$145	39

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

Projected returns pro-forma

4.46% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 49.2%
• Equity multiple: 3.93×
• Total profit: $61,563
• Equity at exit: $40,055

10-year hold

• IRR: 47.5%
• Equity multiple: 8.02×
• Total profit: $147,343
• Equity at exit: $67,188

Cash invested: $21,000 (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 05459

• Home prices YoY: 1.2%
• Active inventory: 25
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $1,771 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$190 /mo · $2,274/yr
• Insurance: −$31
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$372
• Net cashflow: $729

Break-even live

Break-even rent $848

Max offer price $75,000

Occupancy floor 54%

Sensitivity live

Price	-10% $772	-5% $751	+0% $729	+5% $708	+10% $687
Rent	-10% $590	-5% $659	+0% $729	+5% $799	+10% $869
Rate	-1.0pp $767	-0.5pp $748	base $729	+0.5pp $710	+1.0pp $690

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-09
   status $75,000 Pending 320 DOM
2. 2026-06-08
   days on market $75,000 Active 320 DOM
3. 2026-06-08
   days on market $75,000 Active 319 DOM
4. 2026-06-07
   pricestatusdays on market $75,000 Active 318 DOM
5. 2026-06-03
   days on market $135,000 Active with Contract 315 DOM
6. 2026-06-02
   days on market $135,000 Active with Contract 314 DOM
7. 2026-06-01
   days on market $135,000 Active with Contract 313 DOM
8. 2026-05-31
   days on market $135,000 Active with Contract 312 DOM
9. 2026-05-12
   historical Active with Contract
10. 2026-05-05
    price $135,000
11. 2025-12-17
    price $150,000
12. 2025-11-06
    price $165,000
13. 2025-10-09
    price $185,000
14. 2025-09-19
    status Active
15. 2025-08-07
    historical Active with Contract
16. 2025-07-23
    listed $195,000 Active
17. 2016-07-12
    soldstatus $144,900
18. 2016-07-07
    soldstatus $144,900 Closed 235-char remark

    Show marketing remark (235 chars)

    Chk out this cute and cozy cottage with views of the Missisquoi river. A little over 2000 sq ft of living space. Hardwood floors in the living room, Master br with bath and walk in closet. Many up dates to this home. 10 minutes to I89.

19. 2016-05-09
    historical Active with Contract 235-char remark

    Show marketing remark (235 chars)

    Chk out this cute and cozy cottage with views of the Missisquoi river. A little over 2000 sq ft of living space. Hardwood floors in the living room, Master br with bath and walk in closet. Many up dates to this home. 10 minutes to I89.

20. 2016-03-14
    listed $144,900 Active 235-char remark

    Show marketing remark (235 chars)

    Chk out this cute and cozy cottage with views of the Missisquoi river. A little over 2000 sq ft of living space. Hardwood floors in the living room, Master br with bath and walk in closet. Many up dates to this home. 10 minutes to I89.

21. 2015-07-13
    price $144,900
22. 2015-06-24
    price $149,900
23. 2001-06-29
    soldstatus $99,900
24. 2000-11-09
    listed $99,900

ⓘ 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: $2,274 · $190/mo
• Projected year-2 tax: $2,274 · $190/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X · 78% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥91°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,251
• − Mortgage interest: −$4,201
• − Property taxes: −$2,274
• − Insurance: −$1,042
• − Repairs & maintenance: −$1,700
• − Management: −$1,700
• − Depreciation: −$2,182
• Taxable income: $8,152
• Est. tax owed @ 24.0%: −$1,957
• After-tax cash flow: $6,796/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 — Highgate Center

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 2,003

Population outlook (Franklin County) Hauer SSP2

• Today (2025): 50,374 people
• By 2030: 50,718 · +0.7%
• By 2040: 50,557 · +0.4%
• By 2050: 48,832 · -3.1%
• By 2075: 43,526 · -13.6%
• By 2100: 33,970 · -32.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Two or more races 18% Hispanic / Latino 3%
• Common ancestry: Lithuanian 16% Slovak 7% Italian 5%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · French/Haitian/Cajun 3%

Political lean MEDSL · Franklin

• 2024 margin: Toss-up / Even · D 50.0% · R 47.0% · Other 3.0%
• 2008→2024 swing: -21.8pp toward R · 2008: 24.8pp · 2024: 3.0pp
• All cycles: 2024: D+3.0 2020: D+9.0 2016: D+3.1 2012: D+23.6 2008: D+24.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.46%
• Current HPI: 359.8367
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+35.1% since first listed

16 events — show timeline

• 2026-05-12 Contingent — PrimeMLS
• 2026-05-05 Price Changed $135,000 PrimeMLS
• 2025-12-17 Price Changed $150,000 PrimeMLS
• 2025-11-06 Price Changed $165,000 PrimeMLS
• 2025-10-09 Price Changed $185,000 PrimeMLS
• 2025-09-19 Relisted — PrimeMLS
• 2025-08-07 Contingent — PrimeMLS
• 2025-07-23 Listed $195,000 PrimeMLS
• 2016-07-12 Sold (Public Records) $144,900 Public Records
• 2016-07-07 Sold (MLS) $144,900 PrimeMLS
• 2016-05-09 Contingent — PrimeMLS
• 2016-03-14 Listed $144,900 PrimeMLS
• 2015-07-13 Price Changed $144,900 PrimeMLS
• 2015-06-24 Price Changed $149,900 PrimeMLS
• 2001-06-29 Sold (MLS) $99,900 PrimeMLS
• 2000-11-09 Listed $99,900 PrimeMLS

Property tax history

+0.6%/yr

Latest (2024): $2,274 · +4.4% YoY. Source: county tax records.