990 Oregon Rd

Gilman, VT 05906

$97,500C

1 bd · 1.0 ba · 988 sqft · Built 1987 · Other · Pending · 17 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $924/mo
• Mortgage (P&I): −$511
• Tax + insurance: −$155
• HOA: −$0
• Vac / Maint / Mgmt: −$194
• Net cashflow: $64/mo
• Annual: $773/yr
• Cap rate: 7.09%
• Cash-on-cash: 2.83%
• DSCR: 1.13
• 1% rule: 0.95%
• Cash to close: $27,300

Investor read

• This is a 1-bed/1.0-bath other listed at $98k.
• At list price, monthly cash flow is $64 ($773/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 $92k (5.2% below list).
• It's been on market 17 days — a 2% lower offer ($96k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $92k (5.2% below list) — sets the bar for 1% rule.
• In year one you build about $10k of equity ($674 loan paydown + $10k appreciation (9.9% local appreciation)).
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Market conditions: 15 active listings in the ZIP; 11 units permitted in Essex County in 2024 (0 in 5+ unit buildings).
• Essex County population projected at -30% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 5 sale attempts since 22y ago 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 $84k; 16% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (9.9% appreciation + 3.0% rent growth), your $27k cash investment doubles in ~3 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

• 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.