243 Hildred Dr

Burlington, VT 05401

$244,900D-

2 bd · 1.0 ba · 820 sqft · Built 1992 · Townhouse · Active · 202 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,193/mo
• Mortgage (P&I): −$1,284
• Tax + insurance: −$408
• HOA: −$559
• Vac / Maint / Mgmt: −$461
• Net cashflow: $-519/mo
• Annual: $-6,228/yr
• Cap rate: 3.75%
• Cash-on-cash: -9.08%
• DSCR: 0.60
• 1% rule: 0.90%
• Cash to close: $68,572

Investor read

• This is a 2-bed/1.0-bath townhouse listed at $245k. Condition is rated good.
• At list price, monthly cash flow is $-519 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $170k (30.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $219k (10.5% below list).
• It's been on market 202 days — a 12% lower offer ($216k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $170k (30.7% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads 74/100 on livability (#19 in VT, #4,619 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, health & safety A+, employment B; Watch: cost of living D, crime F, amenities F.
• Zoned schools: Integrated Arts Academy At H. O. Wheeler (math 37% / reading 52%, grade F, #72 of 192 statewide, top 42%, 248 students, 58% FRL); Lyman C. Hunt Middle School (math 34% / reading 47%, grade F, #13 of 26 statewide, top 52%, 337 students, 49% FRL); Burlington High School (math 42% / reading 57%, grade D, #8 of 48 statewide, top 15%, 987 students, 48% FRL).
• Watch-outs: HOA is 25% of rent.
• Market conditions: Rents flat; 237 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 45% of comp listings sitting > 30 days — soft ceiling on asking rent; 898 units permitted in Chittenden County in 2024 (554 in 5+ unit buildings).
• Chittenden County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• This rent runs 40% of the median local income ($66k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 202 days. Have you received any prior offers? Is the seller open to a 31% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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.
• Schools are B-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?
• 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?

Repairs flagged (vision-AI assessment)

• Minor: kitchen cabinets — Dated appearance
• Minor: kitchen countertops — Standard appearance