65 Giddings St

North Springfield, VT 05150

$789,000B+

56 bd · 49.0 ba · 5,003 sqft · Built 1840 · MultiFamily · Pending · 66 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $9,875/mo
• Mortgage (P&I): −$4,138
• Tax + insurance: −$533
• HOA: −$0
• Vac / Maint / Mgmt: −$2,074
• Net cashflow: $3,131/mo
• Annual: $37,568/yr
• Cap rate: 11.05%
• Cash-on-cash: 17.01%
• DSCR: 1.76
• 1% rule: 1.25%
• Cash to close: $220,920

Investor read

• This is a 6×1bd/1.0ba + 1×2bd/1.0ba units multifamily listed at $789k.
• At list price, monthly cash flow is $3k ($38k/yr) — positive. Per door: $447/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($10k rent vs $789k).
• It's been on market 66 days — a 6% lower offer ($742k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $742k (6.0% below list) — sets the bar for market timing.
• In year one you build about $42k of equity ($5k loan paydown + $37k appreciation (4.6% local appreciation)).
• Location reads 66/100 on livability (#46 in VT) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment A-; Watch: crime C-, health & safety D, schools F.
• Watch-outs: built in 1840 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 5 active listings in the ZIP; 339 units permitted in Windsor County in 2024 (240 in 5+ unit buildings).
• Windsor County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 4 sale attempts since 11y 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 $133k; list at $789k implies a 493% gain — meaningful room to come down on a strong offer.
• At projected returns (4.6% appreciation + 3.0% rent growth), your $221k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$67k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 66 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Built in 1840 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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 F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.