60 School St

Plainfield, VT 05667

$174,900B+

4 bd · 2.0 ba · 1,492 sqft · Built 1890 · Other · Active · 364 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,378/mo
• Mortgage (P&I): −$917
• Tax + insurance: −$224
• HOA: −$0
• Vac / Maint / Mgmt: −$499
• Net cashflow: $737/mo
• Annual: $8,848/yr
• Cap rate: 11.35%
• Cash-on-cash: 18.07%
• DSCR: 1.80
• 1% rule: 1.36%
• Cash to close: $48,972

Investor read

• This is a 4-bed/2.0-bath other listed at $175k.
• At list price, monthly cash flow is $737 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• It's been on market 364 days — a 12% lower offer ($154k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $154k (12.0% below list) — sets the bar for market timing.
• In year one you build about $7k of equity ($1k loan paydown + $6k appreciation (3.4% local appreciation)).
• Location reads 61/100 on livability (#78 in VT) — a middle-class / working-renter tenant base. Strengths: cost of living A-, housing B; Watch: employment D+, amenities F, commute F.
• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 14 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.
• 3 sale attempts since 8y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $50k; list at $175k implies a 250% gain — meaningful room to come down on a strong offer.
• At projected returns (3.4% appreciation + 3.0% rent growth), your $49k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 364 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.
• This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
• What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
• Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
• 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.