2170 N Main St

Londonderry, VT 05148

$675,000C-

None bd · None ba · 6,144 sqft · Built 1970 · MultiFamily · Active · 22 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $6,290/mo
• Mortgage (P&I): −$3,540
• Tax + insurance: −$1,125
• HOA: −$0
• Vac / Maint / Mgmt: −$1,321
• Net cashflow: $304/mo
• Annual: $3,652/yr
• Cap rate: 6.83%
• Cash-on-cash: 1.93%
• DSCR: 1.09
• 1% rule: 0.93%
• Cash to close: $189,000

Investor read

• This is a multifamily listed at $675k. Condition is rated fair.
• 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).
• It's been on market 22 days — a 2% lower offer ($665k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $629k (6.8% below list) — sets the bar for 1% rule.
• In year one you build about $72k of equity ($5k loan paydown + $68k appreciation (10.0% local appreciation)).
• 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).
• 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.

Questions for listing agent

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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 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.

Repairs flagged (vision-AI assessment)

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