197 Western Ave · Brattleboro, VT 05301

$399,000

6 bd · 3.0 ba · 4,022 sqft · MultiFamily public records · 25 Days on market

Built 1850 0.28 ac lot

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Why this score? — see what drove the B 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
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

This classic Western Avenue house has three apartments that reflect the character of times gone by with many hardwood floors, screened-in porches, fireplaces and very spacious second floor apartment with three bedrooms. Tenants all have separate heat and electric that they are responsible for which adds to the ease of ownership. There is covered parking for two and open space available for others. Invest or live in this great old home and be glad you did. Sale based on 1031 Exchange.

Key facts

• In-town location
• Investment property
• Strong income

Tags

• INVESTMENT PROPERTY
• IN-TOWN LOCATION
• STRONG INCOME
• OPERATING EXPENSES LOW
• INCOME-PRODUCING PROPERTY
• DESIRABLE RENTAL MARKETS

Property features AI

Finance

• Other: Operating expenses include insurance, maintenance, utilities, and water/sewer
• Financial info: Net income reported: $26,858

Exterior

• Parking: 4-car garage
• Utilities: Public water; Public sewer available; 100 Amp electric service; Cable on site; High-speed internet available at site
• Home design: Apartment building; Beige vinyl siding; Existing structure
• Construction: Built in 1850; Vinyl siding construction; Slate roof; Full basement
• Exterior features: Paved driveway; Located in town; Easements present; Public road frontage

Interior

• Bedrooms: Three 1st-floor units: two units with 2 bedrooms and one unit with 3 bedrooms
• Bathrooms: Each unit has 1 bathroom
• Heating & cooling: Steam heating; No cooling
• Interior features: Full basement with interior access; Steam heat; No central cooling

What this means for you Summary

Snapshot

• This is a 2×2bd/1.0ba + 1×3bd/1.0ba units multifamily listed at $399k.

Deal economics

• At list price, monthly cash flow is $2k ($25k/yr) — positive. Per door: $702/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $399k).
• Recommended offer: $393k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.8% vs local median 4.7% in Brattleboro — 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.

Location & tenants

• Location reads 67/100 on livability (#42 in VT) — a middle-class / working-renter tenant base. Strengths: schools A+, health & safety A+, cost of living B; Watch: crime F, amenities D-, commute F.
• Market conditions: 80 active listings in the ZIP; 188 units permitted in Windham County in 2024 (0 in 5+ unit buildings).
• At $6,038/mo this rent would consume 110% of the median local household income ($66k/yr) (locally 594% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• Windham County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $112k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($393k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 19y 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 $230k; list at $399k implies a 73% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1850 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $393,015 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1850 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are A-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?
7. Crime grade is F 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?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.51% ✓
• Cap rate: 12.79%
• Cash-on-cash: 23.22%
• DSCR: 2.03
• GRM: 5.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 15.5%
• Equity multiple: 1.62×
• Total profit: $69,519
• Equity at exit: $59,492

10-year hold

• IRR: 24.2%
• Equity multiple: 3.09×
• Total profit: $233,400
• Equity at exit: $34,498

Cash invested: $111,720 (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 05301

• Home prices YoY: -19.2%
• Active inventory: 80
• Price-to-rent: 16.9×

Monthly cashflow live

• Estimated rent: $6,038 high
• Mortgage (P&I): −$2,092
• Tax from tax record: −$350 /mo · $4,196/yr
• Insurance: −$166
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,268
• Net cashflow: $2,106

Break-even live

Break-even rent $3,372

Max offer price $399,000

Occupancy floor 60%

Sensitivity live

Price	-10% $2,332	-5% $2,219	+0% $2,106	+5% $1,993	+10% $1,880
Rent	-10% $1,629	-5% $1,868	+0% $2,106	+5% $2,345	+10% $2,583
Rate	-1.0pp $2,307	-0.5pp $2,208	base $2,106	+0.5pp $2,003	+1.0pp $1,898

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,928
1× unit	3	1	$2,109
Total (3 units)			$6,038

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: $99,750
• Closing costs: $11,970
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-15
   status $399,000 Pending 25 DOM
2. 2026-06-15
   days on market $399,000 Active 25 DOM
3. 2026-06-14
   days on market $399,000 Active 23 DOM
4. 2026-06-13
   days on market $399,000 Active 22 DOM
5. 2026-06-10
   days on market $399,000 Active 20 DOM
6. 2026-06-09
   days on market $399,000 Active 19 DOM
7. 2026-06-08
   days on market $399,000 Active 18 DOM
8. 2026-06-07
   days on market $399,000 Active 17 DOM
9. 2026-06-03
   days on market $399,000 Active 13 DOM
10. 2026-06-02
    days on market $399,000 Active 12 DOM
11. 2026-06-01
    days on market $399,000 Active 11 DOM
12. 2026-05-31
    days on market $399,000 Active 10 DOM
13. 2026-05-31
    days on market $399,000 Active 9 DOM
14. 2026-05-21
    listed $399,000 Active
15. 2007-07-27
    soldstatus $230,000 488-char remark

    Show marketing remark (488 chars)

    This classic Western Avenue house has three apartments that reflect the character of times gone by with many hardwood floors, screened-in porches, fireplaces and very spacious second floor apartment with three bedrooms. Tenants all have separate heat and electric that they are responsible for which adds to the ease of ownership. There is covered parking for two and open space available for others. Invest or live in this great old home and be glad you did. Sale based on 1031 Exchange.

16. 2007-07-27
    soldstatus $230,000

    Show marketing remark (488 chars)

    This classic Western Avenue house has three apartments that reflect the character of times gone by with many hardwood floors, screened-in porches, fireplaces and very spacious second floor apartment with three bedrooms. Tenants all have separate heat and electric that they are responsible for which adds to the ease of ownership. There is covered parking for two and open space available for others. Invest or live in this great old home and be glad you did. Sale based on 1031 Exchange.

17. 2007-05-12
    listed $239,000 488-char remark

    Show marketing remark (488 chars)

    This classic Western Avenue house has three apartments that reflect the character of times gone by with many hardwood floors, screened-in porches, fireplaces and very spacious second floor apartment with three bedrooms. Tenants all have separate heat and electric that they are responsible for which adds to the ease of ownership. There is covered parking for two and open space available for others. Invest or live in this great old home and be glad you did. Sale based on 1031 Exchange.

18. 1991-01-02
    soldstatus $195,000

ⓘ 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: $4,196 · $350/mo
• Projected year-2 tax: $5,889 · $491/mo
• Expected delta: +$1,692/yr (+$141/mo · 40.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥94°F today · 16 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 11% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $72,456
• − Mortgage interest: −$22,350
• − Property taxes: −$4,196
• − Insurance: −$2,662
• − Repairs & maintenance: −$5,796
• − Management: −$5,796
• − Depreciation: −$11,607
• Taxable income: $20,048
• Est. tax owed @ 24.0%: −$4,811
• After-tax cash flow: $20,462/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 — Brattleboro

• Score: 67/100
• State rank: #42
• US rank: #10223

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Brattleboro, VT
• County: Windham County · 16,955 people
• City population: 16,955
• Metro: nan
• Population (ZIP): 16,955
• Household income: $65,910
• Rent vs Own: 34.4% rent · 65.6% own
• Severe rent burden: 594.0

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 (90%)
• Race & ethnicity: White 90% Two or more races 6% Hispanic / Latino 3% Asian 2%
• Common ancestry: Lithuanian 7% Romanian 5% Italian 4%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2% Other Asian/Pacific 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: ▼ -67.19%
• Current HPI: 283.2338
• Rent YoY: —
• Metro: nan
• State GDP YoY: —
• F500 in state: 0

Price history

+104.6% since first listed

5 events — show timeline

• 2026-05-21 Listed $399,000 PrimeMLS
• 2007-07-27 Sold (Public Records) $230,000 Public Records
• 2007-07-27 Sold (MLS) $230,000 PrimeMLS
• 2007-05-12 Listed $239,000 PrimeMLS
• 1991-01-02 Sold (Public Records) $195,000 Public Records

Property tax history

-3.9%/yr

Latest (2024): $4,196 · +11.7% YoY. Source: county tax records.