78 Shady Pines Park

Westminster, VT 05158

$55,000B+

3 bd · 1.0 ba · 924 sqft · Built 1989 · Manufactured · Active · 10 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,115/mo
• Mortgage (P&I): −$288
• Tax + insurance: −$48
• HOA: −$423
• Vac / Maint / Mgmt: −$234
• Net cashflow: $121/mo
• Annual: $1,457/yr
• Cap rate: 8.94%
• Cash-on-cash: 9.46%
• DSCR: 1.42
• 1% rule: 2.03%
• Cash to close: $15,400

Investor read

• This is a 3-bed/1.0-bath manufactured listed at $55k.
• At list price, monthly cash flow is $121 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $2k of equity ($380 loan paydown + $1k appreciation (2.5% local appreciation)).
• Location reads 65/100 on livability (#59 in VT) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime B; Watch: schools D+, health & safety D, amenities F.
• Watch-outs: HOA is 38% of rent.
• Market conditions: 15 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.
• 4 sale attempts 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 $48k; 16% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (2.5% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~5 years — after that, you're playing with house money.

Questions for listing agent

• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-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.
• 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.