42 Elm St

Gilman, VT 05906

$148,000B-

4 bd · 2.5 ba · 2,268 sqft · Built 1920 · SingleFamily · Pending · 7 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,484/mo
• Mortgage (P&I): −$776
• Tax + insurance: −$247
• HOA: −$0
• Vac / Maint / Mgmt: −$312
• Net cashflow: $149/mo
• Annual: $1,793/yr
• Cap rate: 7.50%
• Cash-on-cash: 4.33%
• DSCR: 1.19
• 1% rule: 1.00%
• Cash to close: $41,440

Investor read

• This is a 4-bed/2.5-bath single-family listed at $148k. Condition is rated fair.
• At list price, monthly cash flow is $149 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $148k).
• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $16k of equity ($1k loan paydown + $15k appreciation (9.9% local appreciation)).
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Zoned schools: Sutton Village School (math 24% / reading 34%, grade F, #141 of 192 statewide, top 77%, 113 students, 42% FRL).
• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 15 active listings in the ZIP; 11 units permitted in Essex County in 2024 (0 in 5+ unit buildings).
• Essex County population projected at -30% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (9.9% appreciation + 3.0% rent growth), your $41k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1920 — 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.

Repairs flagged (vision-AI assessment)

• Major: Kitchen cabinets — Green cabinets need repainting or replacement
• Major: Bathroom fixtures — No visible fixtures
• Major: Exterior siding — Weathered and in need of repainting
• Major: Landscaping — Overgrown and needs trimming