855 North St

Brandon, VT 05733

$295,000C

6 bd · 2.0 ba · 2,320 sqft · Built 1950 · MultiFamily · Active · 46 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,970/mo
• Mortgage (P&I): −$1,547
• Tax + insurance: −$492
• HOA: −$0
• Vac / Maint / Mgmt: −$624
• Net cashflow: $308/mo
• Annual: $3,691/yr
• Cap rate: 7.54%
• Cash-on-cash: 4.47%
• DSCR: 1.20
• 1% rule: 1.01%
• Cash to close: $82,600

Investor read

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $295k. Condition is rated fair.
• At list price, monthly cash flow is $308 ($4k/yr) — positive. Per door: $154/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $295k).
• It's been on market 46 days — a 3% lower offer ($286k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $286k (3.0% below list) — sets the bar for market timing.
• In year one you build about $22k of equity ($2k loan paydown + $19k appreciation (6.6% local appreciation)).
• Location reads 69/100 on livability (#32 in VT) — a middle-class / working-renter tenant base. Strengths: cost of living A, health & safety A, crime B+; Watch: employment D, amenities F, commute F.
• Zoned schools: Neshobe School (math 12% / reading 17%, grade F, #188 of 192 statewide, top 99%, 440 students, 34% FRL); Otter Valley Union High School (math 15% / reading 22%, grade F, #46 of 48 statewide, top 96%, 526 students, 47% FRL).
• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 36 active listings in the ZIP; 90 units permitted in Rutland County in 2024 (0 in 5+ unit buildings).
• Rutland County population projected at -28% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (6.6% appreciation + 3.0% rent growth), your $83k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 46 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1950 — 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.
• Schools are F-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.

Repairs flagged (vision-AI assessment)

• Major: roof — The roof appears to be in poor condition, with visible wear and tear.
• Major: exterior siding — The exterior siding appears to be in poor condition, with visible wear and tear.