2170 N Main St · Londonderry, VT 05148

$675,000

None bd · None ba · 6,144 sqft · MultiFamily · 22 Days on market

Built 1970 Fair condition 1.84 ac lot

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Why this score? — see what drove the C- 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 +15.8/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• DSCR +4.9/10.0
• 1% rule +4.3/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.2/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

For more than 20 years, this mixed-use property has been consistently operated and maintained by the same owner—an indicator of stability, reliability, and proven performance. The building features three distinct income channels: a fully equipped small-town diner with loyal local traffic, a well-established general market serving the community’s daily needs, and two rental apartments above that provide steady residential income. Positioned directly on a main road with excellent traffic exposure, the property benefits from continuous visibility and easy access, supporting both the commercial tenants and future growth potential. Whether you’re an investor seeking diversified

Key facts

• Easy access
• Immediate cash flow
• Mixed-use property

Tags

• MIXED-USE PROPERTY
• EXCELLENT TRAFFIC EXPOSURE
• CONTINUOUS VISIBILITY
• EASY ACCESS
• IMMEDIATE CASH FLOW

Property features AI

Finance

• Other: Total finished area approximately 6144; Total of 4 units; Easement status unknown; Listed by Elevations Real Estate

Exterior

• Parking: Gravel and paved driveway
• Utilities: Public sewer; Public water; Circuit breaker electrical service; Cable and telephone available; Cable and satellite internet options
• Home design: Apartment / multi-family, multi-level building; Built in 1970
• Construction: Post-and-beam and wood frame construction with wood siding; Corrugated and asphalt shingle roof
• Exterior features: Near shopping, schools, and skiing; Adjacent to a ski area and a stream; Neighboring commercial business; Public-maintained road frontage

Interior

• Bedrooms: Four-unit building with one 2-bedroom unit and one 3+-bedroom unit
• Heating & cooling: Wood boiler heating; No central cooling
• Interior features: Walkout basement; Basement has a dirt floor

What this means for you Summary

Snapshot

• This is a multifamily listed at $675k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $304 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $629k (6.8% below list).
• Recommended offer: $629k (6.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Market conditions: 22 active listings in the ZIP; 188 units permitted in Windham County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $72k of equity ($5k loan paydown + $68k appreciation (10.0% local appreciation)).
• Windham County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $189k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$116k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($665k) is reasonable based on typical stale-listing flexibility.

Recommended offer $629,000 (6.8% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 0.93% ✗
• Cap rate: 6.83%
• Cash-on-cash: 1.93%
• DSCR: 1.09
• GRM: 8.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 25.7%
• Equity multiple: 3.05×
• Total profit: $387,101
• Equity at exit: $608,093

10-year hold

• IRR: 22.6%
• Equity multiple: 6.95×
• Total profit: $1,124,893
• Equity at exit: $1,311,377

Cash invested: $189,000 (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 05148

• Home prices YoY: 21.5%
• Active inventory: 22
• Price-to-rent: 26.8×

Monthly cashflow live

• Estimated rent: $6,290 medium
• Mortgage (P&I): −$3,540
• Tax est. 1.5%: −$844 /mo · $10,125/yr
• Insurance: −$281
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,321
• Net cashflow: $304

Break-even live

Break-even rent $5,905

Max offer price $675,000

Occupancy floor 90%

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$6,291
Total (3 units)			$6,290

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: $168,750
• Closing costs: $20,250
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $675,000 Active 22 DOM
2. 2026-06-17
   days on market $675,000 Active 21 DOM
3. 2026-06-16
   days on market $675,000 Active 20 DOM
4. 2026-06-15
   days on market $675,000 Active 19 DOM
5. 2026-06-15
   days on market $675,000 Active 18 DOM
6. 2026-06-13
   days on market $675,000 Active 17 DOM
7. 2026-06-12
   pricedays on market $675,000 Active 16 DOM
8. 2026-06-09
   days on market $700,000 Active 13 DOM
9. 2026-06-08
   days on market $700,000 Active 12 DOM
10. 2026-06-08
    days on market $700,000 Active 11 DOM
11. 2026-06-07
    days on market $700,000 Active 10 DOM
12. 2026-06-03
    days on market $700,000 Active 7 DOM
13. 2026-06-02
    days on market $700,000 Active 6 DOM
14. 2026-06-01
    days on market $700,000 Active 5 DOM
15. 2026-05-31
    days on market $700,000 Active 4 DOM
16. 2026-05-27
    listed $700,000 Active

ⓘ 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

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

Taxation est. · year 1

• Rental income: $75,480
• − Mortgage interest: −$37,810
• − Property taxes: −$10,125
• − Insurance: −$3,375
• − Repairs & maintenance: −$6,038
• − Management: −$6,038
• − Depreciation: −$19,636
• Taxable loss: −$7,544
• Est. tax savings @ 24.0%: +$1,810
• After-tax cash flow: $5,462/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.

Condition & rehab AI · 6 photos

Fair 45/100 Moderate rehab

This multi-family property requires significant repairs and maintenance, including roof, exterior, and HVAC work. Improvements will significantly enhance its value for both resale and rental purposes.

Repairs flagged

• Major roof — Significant snow and ice accumulation
• Major exterior siding — Signs of wear and tear
• Major HVAC/mechanicals — No visible units

Value-add opportunities

• Both roof repair — Fixing the roof will improve both the resale and rental value
• Both exterior painting — Painting the exterior will improve curb appeal and value
• Both HVAC installation — Upgrading HVAC will improve comfort and energy efficiency

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · Significant snow and ice accumulation	Major	$15,000–50,000
exterior siding · Signs of wear and tear	Major	$15,000–50,000
HVAC/mechanicals · No visible units	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both roof repair — Fixing the roof will improve both the resale and rental value ↑
• Both exterior painting — Painting the exterior will improve curb appeal and value ↑
• Both HVAC installation — Upgrading HVAC will improve comfort and energy efficiency ↑

ⓘ 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 — Londonderry

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Londonderry, VT
• Population (ZIP): 1,550

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 (91%)
• Race & ethnicity: White 91% Two or more races 5% Hispanic / Latino 4% Native American 2%
• Common ancestry: Scotch-Irish 4% Lithuanian 2% Romanian 2%
• Foreign-born: 4% · Canada
• Languages at home: 98% English-only · French/Haitian/Cajun 1% Russian/Polish/Slavic 1% Spanish 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: ▲ 61.52%
• Current HPI: 347.7405
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-05-27 Listed $700,000 PrimeMLS