89 Roland St

Barton, VT 05822

$55,000B+

2 bd · 1.0 ba · 784 sqft · Built 1989 · Manufactured · Pending · 319 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,650/mo
• Mortgage (P&I): −$288
• Tax + insurance: −$53
• HOA: −$0
• Vac / Maint / Mgmt: −$346
• Net cashflow: $961/mo
• Annual: $11,537/yr
• Cap rate: 27.27%
• Cash-on-cash: 74.92%
• DSCR: 4.33
• 1% rule: 3.00%
• Cash to close: $15,400

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $55k.
• At list price, monthly cash flow is $961 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $55k).
• It's been on market 319 days — a 12% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $48k (12.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($380 loan paydown + $2k appreciation (3.6% local appreciation)).
• Location reads 63/100 on livability (#68 in VT) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing B+, health & safety B+; Watch: crime D+, schools D-, amenities F.
• Market conditions: 22 active listings in the ZIP; 157 units permitted in Orleans County in 2024 (107 in 5+ unit buildings).
• Orleans County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 6 sale attempts since 9y ago; this cycle's ask has dropped $44k (44%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (3.6% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~2 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 319 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• 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 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?
• Crime grade is D 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?
• 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.