29 Billings Ave · Rutland, VT 05701

$101,899

3 bd · 2.0 ba · 911 sqft · Manufactured · 344 Days on market

Built 2025 Excellent condition $112/sqft · 30% below area Est $145k · 30% under $500/mo HOA · 26% of rent

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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 +28.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +9.9/10.0
• Schools +5.0/10.0
• Condition / age +5.0/5.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to Lot 29, Curtis Avenue, Rutland, VT, where modern comfort meets affordability in Billing Mobile Manor! This brand-new Redman NWS F25206-68 model manufactured home offers 3 bedrooms, 2 bathrooms, and 911 sq. ft. (13'4"x68) of thoughtfully designed living space. Step inside to an open-concept layout with stylish finishes, a bright living area, and a well-appointed kitchen. The home features energy-efficient construction, modern appliances, and low-maintenance materials, making it perfect for easy living. Located in a peaceful and well-maintained community, this home is ideal for those looking for a move-in-ready option in a convenient location. Don’t miss out on this opportunity! Contact us today for more details or to schedule a tour. The interior is 100% complete. Home is available for showing. This property participates in the Mobile Home Infill Program (MHIP) and is open to anyone who works or lives in Vermont.

Key facts

• Move-in-ready option
• Modern appliances
• Open-concept layout

Tags

• OPEN-CONCEPT LAYOUT
• ENERGY-EFFICIENT CONSTRUCTION
• MODERN APPLIANCES
• LOW-MAINTENANCE MATERIALS
• WELL-MAINTAINED COMMUNITY
• MOVE-IN-READY OPTION

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $102k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $317 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $102k).
• Recommended offer: $90k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.0% vs local median 4.3% in Rutland — 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 81/100 on livability (#6 in VT, #1,410 nationally) — a professional / high-income tenant draw. Strengths: schools A+, commute A+, cost of living A+; Watch: employment C-, crime F.
• Market conditions: 97 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 90 units permitted in Rutland County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $704 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Rutland County population projected at -28% 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 $29k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 344 days — a 12% lower offer ($90k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 26% of rent.

Recommended offer $89,671 (12.0% below list)

Questions for the listing agent

1. It's been on market 344 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.89% ✓
• Cap rate: 10.03%
• Cash-on-cash: 13.34%
• DSCR: 1.59
• GRM: 4.4

CMA / ARV

• ARV (median comp): $145,066
• List price: $101,899
• Delta: -29.76%
• Verdict: UNDERPRICED
• Comps: 2 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 3.6%
• Equity multiple: 1.14×
• Total profit: $4,025
• Equity at exit: $15,193

10-year hold

• IRR: 13.4%
• Equity multiple: 2.08×
• Total profit: $30,882
• Equity at exit: $8,810

Cash invested: $28,532 (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 05701

• Home prices YoY: -18.1%
• Active inventory: 97
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $1,926 medium
• Mortgage (P&I): −$534
• Tax est. 1.5%: −$127 /mo · $1,528/yr
• Insurance: −$42
• HOA: −$500
• Vacancy / Maint / Mgmt: −$404
• Net cashflow: $317

Break-even live

Break-even rent $1,524

Max offer price $101,899

Occupancy floor 79%

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: $25,475
• Closing costs: $3,057
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
40 Cottage St Unit 3 Rutland, VT	2.0	2.0	1000	$2,100	$2.10	43d	1	0.98mi
15 Kingsley Ct Apt 3 Rutland, VT	2.0	1.0	750	$1,600	$2.13	43d	1	1.25mi
57 Forest St Rutland, VT	3.0	1.0	840	$2,000	$2.38	43d	1	1.29mi

HOA detail

• Monthly dues: $500 · $6,000/yr

Listing history 17 events

1. 2026-06-18
   days on market $101,899 Active 344 DOM
2. 2026-06-17
   days on market $101,899 Active 343 DOM
3. 2026-06-16
   days on market $101,899 Active 342 DOM
4. 2026-06-15
   days on market $101,899 Active 341 DOM
5. 2026-06-15
   days on market $101,899 Active 340 DOM
6. 2026-06-13
   days on market $101,899 Active 339 DOM
7. 2026-06-12
   days on market $101,899 Active 338 DOM
8. 2026-06-09
   days on market $101,899 Active 335 DOM
9. 2026-06-08
   days on market $101,899 Active 334 DOM
10. 2026-06-08
    days on market $101,899 Active 333 DOM
11. 2026-06-07
    days on market $101,899 Active 332 DOM
12. 2026-06-03
    days on market $101,899 Active 329 DOM
13. 2026-06-02
    days on market $101,899 Active 328 DOM
14. 2026-06-01
    days on market $101,899 Active 327 DOM
15. 2026-05-31
    days on market $101,899 Active 326 DOM
16. 2025-07-24
    price $101,899 947-char remark

    Show marketing remark (947 chars)

    Welcome to Lot 29, Curtis Avenue, Rutland, VT, where modern comfort meets affordability in Billing Mobile Manor! This brand-new Redman NWS F25206-68 model manufactured home offers 3 bedrooms, 2 bathrooms, and 911 sq. ft. (13'4"x68) of thoughtfully designed living space. Step inside to an open-concept layout with stylish finishes, a bright living area, and a well-appointed kitchen. The home features energy-efficient construction, modern appliances, and low-maintenance materials, making it perfect for easy living. Located in a peaceful and well-maintained community, this home is ideal for those looking for a move-in-ready option in a convenient location. Don’t miss out on this opportunity! Contact us today for more details or to schedule a tour. The interior is 100% complete. Home is available for showing. This property participates in the Mobile Home Infill Program (MHIP) and is open to anyone who works or lives in Vermont.

17. 2025-07-09
    listed $101,399 Active 947-char remark

    Show marketing remark (947 chars)

    Welcome to Lot 29, Curtis Avenue, Rutland, VT, where modern comfort meets affordability in Billing Mobile Manor! This brand-new Redman NWS F25206-68 model manufactured home offers 3 bedrooms, 2 bathrooms, and 911 sq. ft. (13'4"x68) of thoughtfully designed living space. Step inside to an open-concept layout with stylish finishes, a bright living area, and a well-appointed kitchen. The home features energy-efficient construction, modern appliances, and low-maintenance materials, making it perfect for easy living. Located in a peaceful and well-maintained community, this home is ideal for those looking for a move-in-ready option in a convenient location. Don’t miss out on this opportunity! Contact us today for more details or to schedule a tour. The interior is 100% complete. Home is available for showing. This property participates in the Mobile Home Infill Program (MHIP) and is open to anyone who works or lives in Vermont.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌡 Heat 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,109
• − Mortgage interest: −$5,708
• − Property taxes: −$1,528
• − Insurance: −$509
• − Repairs & maintenance: −$1,849
• − Management: −$1,849
• − HOA: −$6,000
• − Depreciation: −$2,964
• Taxable income: $2,702
• Est. tax owed @ 24.0%: −$648
• After-tax cash flow: $3,158/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.

Condition & rehab AI · 5 photos

Excellent 100/100 None rehab

This brand-new manufactured home is in excellent condition with no visible repairs or maintenance needed. It offers a move-in-ready option with modern finishes and low-maintenance materials, ideal for both resale and rental markets.

Value-add opportunities

• Both Landscaping improvements — Enhances curb appeal and property value.
• Both Interior updates (paint, minor fixtures) — Improves aesthetics and functionality for potential buyers/renters.
• Both Kitchen and bathroom updates — Modernizes spaces and adds value for both resale and rental markets.

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping improvements — Enhances curb appeal and property value. ↑
• Both Interior updates (paint, minor fixtures) — Improves aesthetics and functionality for potential buyers/renters. ↑
• Both Kitchen and bathroom updates — Modernizes spaces and adds value for both resale and rental markets. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

No district data.

Livability — Rutland

• Score: 81/100
• State rank: #6
• US rank: #1410

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rutland, VT
• Population (ZIP): 20,142

Population outlook (Rutland County) Hauer SSP2

• Today (2025): 55,307 people
• By 2030: 52,364 · -5.3%
• By 2040: 45,751 · -17.3%
• By 2050: 39,627 · -28.4%
• By 2075: 29,080 · -47.4%
• By 2100: 20,673 · -62.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Lithuanian 14% Romanian 6% Slovak 3%
• Foreign-born: 2% · Canada
• Languages at home: 94% English-only · Spanish 3% French/Haitian/Cajun 1% Other Asian/Pacific 1%

Political lean MEDSL · Rutland

• 2024 margin: Lean D (+5.3) · D 51.3% · R 46.0% · Other 2.7%
• 2008→2024 swing: -19.3pp toward R · 2008: 24.6pp · 2024: 5.3pp
• All cycles: 2024: D+5.3 2020: D+10.5 2016: D+4.2 2012: D+22.0 2008: D+24.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -63.90%
• Current HPI: 288.4214
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+0.5% since first listed

2 events — show timeline

• 2025-07-24 Price Changed $101,899 PrimeMLS
• 2025-07-09 Listed $101,399 PrimeMLS