2390 Morse Brook Rd · Westminster, VT 05346

$83,200

3 bd · 1.0 ba · 1,414 sqft · SingleFamily public records · 29 Days on market

Built 1965 3.50 ac lot ↓ 43% since listing

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Why this score? — see what drove the A- 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
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Opportunity awaits in this serene Westminster Vermont setting! Nestled beside a charming babbling brook, this property offers the perfect backdrop to create your dream getaway or year-round home. The existing cottage is ready for a full renovation or a fresh start—bring your vision and unlock the true potential of this peaceful slice of Vermont. Rare chance to build equity in a highly desirable natural setting! est suited for a cash sale. All information deemed correct, Buyers and Buyer's agent to do their due diligence. No Seller's Report as Seller has never occupied the property. Property is actually in Westminster - has a Putney Zip Code. The seller is asking for highest and best o

Key facts

• 3.5 acre lot
• Garage
• Built 1965

Property features AI

Finance

• Financial info: Property is foreclosed / bank-owned / REO

Exterior

• Parking: 1-car garage
• Utilities: Drilled well for water; Circuit breaker electrical panel; Telephone available; Internet availability unknown
• Home design: Cottage/Camp style; Existing structure; Built in 1965
• Construction: Wood frame construction; Wood exterior; Metal roof; Survey status unknown
• Exterior features: Country setting; On a stream; Wooded lot; Dirt driveway; Public road frontage (approx. 423 ft)

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Baseboard heating; Electric heating; Wood stove
• Interior features: 6 total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $83k.

Deal economics

• At list price, monthly cash flow is $374 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $83k).
• Recommended offer: $82k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 65/100 on livability (#59 in VT) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime B; Watch: schools D+, health & safety D, amenities F.
• Market conditions: 19 active listings in the ZIP; 188 units permitted in Windham County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $9k of equity ($575 loan paydown + $8k appreciation (10.0% local appreciation)).
• Windham County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $23k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($82k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $81,952 (1.5% below list)

Questions for the listing agent

1. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.69% ✓
• Cap rate: 12.48%
• Cash-on-cash: 22.11%
• DSCR: 1.98
• GRM: 4.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 38.7%
• Equity multiple: 3.97×
• Total profit: $69,233
• Equity at exit: $74,953

10-year hold

• IRR: 33.3%
• Equity multiple: 8.96×
• Total profit: $185,403
• Equity at exit: $161,639

Cash invested: $23,296 (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 05346

• Home prices YoY: 7.1%
• Active inventory: 19
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,405 medium
• Mortgage (P&I): −$436
• Tax from tax record: −$210 /mo · $2,520/yr
• Insurance: −$35
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$295
• Net cashflow: $374

Break-even live

Break-even rent $932

Max offer price $83,200

Occupancy floor 68%

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: $20,800
• Closing costs: $2,496
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-04
   status $83,200 Pending 29 DOM
2. 2026-06-03
   days on market $83,200 Active 29 DOM
3. 2026-06-02
   days on market $83,200 Active 28 DOM
4. 2026-06-01
   days on market $83,200 Active 27 DOM
5. 2026-05-31
   days on market $83,200 Active 26 DOM
6. 2026-05-03
   listed $83,200 Active
7. 2007-10-04
   soldstatus $147,000

ⓘ 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: $2,520 · $210/mo
• Projected year-2 tax: $2,520 · $210/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 10/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥93°F today · 15 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 7% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,864
• − Mortgage interest: −$4,660
• − Property taxes: −$2,520
• − Insurance: −$1,082
• − Repairs & maintenance: −$1,349
• − Management: −$1,349
• − Depreciation: −$2,420
• Taxable income: $3,482
• Est. tax owed @ 24.0%: −$836
• After-tax cash flow: $3,648/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 — Westminster

• Score: 65/100
• State rank: #59
• US rank: #13210

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 5,236

Population outlook (Windham County) Hauer SSP2

• Today (2025): 40,432 people
• By 2030: 38,472 · -4.8%
• By 2040: 33,954 · -16.0%
• By 2050: 29,774 · -26.4%
• By 2075: 22,351 · -44.7%
• By 2100: 15,961 · -60.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Two or more races 8% Hispanic / Latino 6% Black 2%
• Hispanic origin (detail): Puerto Rican 4%
• Common ancestry: Slovak 7% Romanian 4% Lithuanian 4%
• Foreign-born: 4% · Canada, China
• Languages at home: 97% English-only · French/Haitian/Cajun 1% Spanish 1%

Political lean MEDSL · Windham

• 2024 margin: Solid D (+42.7) · D 69.6% · R 26.9% · Other 3.5%
• 2008→2024 swing: -5.4pp toward R · 2008: 48.1pp · 2024: 42.7pp
• All cycles: 2024: D+42.7 2020: D+47.3 2016: D+42.0 2012: D+49.2 2008: D+48.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 20.34%
• Current HPI: 307.2938
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-43.4% since first listed

2 events — show timeline

• 2026-05-03 Listed $83,200 PrimeMLS
• 2007-10-04 Sold (Public Records) $147,000 Public Records

Property tax history

-1.8%/yr

Latest (2024): $2,520 · +7.7% YoY. Source: county tax records.