28 Thetford Ln

Royalton, VT 05032

$189,900C+

3 bd · 1.0 ba · 924 sqft · Built 1987 · Manufactured · Active · 58 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,775/mo
• Mortgage (P&I): −$996
• Tax + insurance: −$152
• HOA: −$0
• Vac / Maint / Mgmt: −$373
• Net cashflow: $255/mo
• Annual: $3,059/yr
• Cap rate: 7.90%
• Cash-on-cash: 5.75%
• DSCR: 1.26
• 1% rule: 0.93%
• Cash to close: $53,172

Investor read

• This is a 3-bed/1.0-bath manufactured listed at $190k.
• At list price, monthly cash flow is $255 ($3k/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 $178k (6.5% below list).
• It's been on market 58 days — a 3% lower offer ($184k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $178k (6.5% below list) — sets the bar for 1% rule.
• In year one you build about $11k of equity ($1k loan paydown + $10k appreciation (5.1% local appreciation)).
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Market conditions: 12 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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.
• Current owner paid $92k; list at $190k implies a 106% gain — meaningful room to come down on a strong offer.
• At projected returns (5.1% appreciation + 3.0% rent growth), your $53k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 58 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
• 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.