2466 VT Route 114

Burke, VT 05832

$209,000C

4 bd · 2.0 ba · 1,676 sqft · Built 1890 · SingleFamily · Active · 55 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,014/mo
• Mortgage (P&I): −$1,096
• Tax + insurance: −$262
• HOA: −$0
• Vac / Maint / Mgmt: −$423
• Net cashflow: $234/mo
• Annual: $2,804/yr
• Cap rate: 7.63%
• Cash-on-cash: 4.79%
• DSCR: 1.21
• 1% rule: 0.96%
• Cash to close: $58,520

Investor read

• This is a 4-bed/2.0-bath single-family listed at $209k.
• At list price, monthly cash flow is $234 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $201k (3.6% below list).
• It's been on market 55 days — a 3% lower offer ($203k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $201k (3.6% below list) — sets the bar for 1% rule.
• In year one you build about $2k of equity ($1k loan paydown + $214 appreciation (0.1% local appreciation)).
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 21 active listings in the ZIP; 112 units permitted in Caledonia County in 2024 (15 in 5+ unit buildings).
• Caledonia County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 8y ago; this cycle's ask has dropped $16k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $55k; list at $209k implies a 280% gain — meaningful room to come down on a strong offer.
• At projected returns (0.1% appreciation + 3.0% rent growth), your $59k cash investment doubles in ~9 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 55 days. Have you received any prior offers? Is the seller open to a 4% concession, seller financing, or rate buy-down credit?
• Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.
• 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.