59 Crossing Manor Dr

Berlin, VT 05602

$139,900C-

3 bd · 1.0 ba · 930 sqft · Built 2023 · Manufactured · Active · 240 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,660/mo
• Mortgage (P&I): −$734
• Tax + insurance: −$289
• HOA: −$0
• Vac / Maint / Mgmt: −$349
• Net cashflow: $289/mo
• Annual: $3,471/yr
• Cap rate: 9.25%
• Cash-on-cash: 10.56%
• DSCR: 1.47
• 1% rule: 1.19%
• Cash to close: $39,172

Investor read

• This is a 3-bed/1.0-bath manufactured listed at $140k.
• At list price, monthly cash flow is $289 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• It's been on market 240 days — a 12% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $123k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $967 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Zoned schools: U-32 Middle & High School (math 39% / reading 58%, grade D, #9 of 48 statewide, top 17%, 707 students, 20% FRL).
• Watch-outs: flood insurance adds $56/mo.
• Market conditions: 65 active listings in the ZIP; 185 units permitted in Washington County in 2024 (30 in 5+ unit buildings).
• Washington County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 240 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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.
• 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.