99 Bushnell Rd

Waitsfield, VT 05673

$625,000F

3 bd · 1.5 ba · 1,596 sqft · Built 2000 · SingleFamily · Active · 10 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,790/mo
• Mortgage (P&I): −$3,278
• Tax + insurance: −$812
• HOA: −$0
• Vac / Maint / Mgmt: −$796
• Net cashflow: $-1,095/mo
• Annual: $-13,144/yr
• Cap rate: 4.19%
• Cash-on-cash: -7.51%
• DSCR: 0.67
• 1% rule: 0.61%
• Cash to close: $175,000

Investor read

• This is a 3-bed/1.5-bath single-family listed at $625k.
• At list price, monthly cash flow is $-1k ($-13k/yr) — negative.
• To cash-flow at today's rent, offer at most $432k (31.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $379k (39.4% below list).
• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $379k (39.4% below list) — sets the bar for 1% rule.
• In year one you build about $67k of equity ($4k loan paydown + $62k appreciation (10.0% local appreciation)).
• Location reads 68/100 on livability (#37 in VT) — a middle-class / working-renter tenant base. Strengths: crime A+, health & safety A, housing B; Watch: amenities F, commute F, employment F.
• Zoned schools: Waitsfield Elementary School (math 57% / reading 72%, grade B, #5 of 192 statewide, top 4%, 168 students, 30% FRL).
• Market conditions: 21 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.
• 2 sale attempts since 10y 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 $308k; list at $625k implies a 103% gain — meaningful room to come down on a strong offer.
• By year 2, paydown + projected appreciation supports a ~$107k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 4.2% vs local median 2.1% in Waitsfield — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

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?
• 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?
• 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?
• 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.