338 Collamer Cir · Shelburne, VT 05482

$669,900

3 bd · 2.0 ba · 2,253 sqft · Other · 48 Days on market

Built 1970 0.47 ac lot

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Why this score? — see what drove the D grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +13.4/30.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• DSCR +4.0/10.0
• Livability +3.8/5.0
• 1% rule +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Desirable Shelburne Location! Very well-maintained home, beautiful oak floors, fantastic open floor plan great for entertaining and family gatherings, glass backsplash and granite countertops in kitchen, two gas fireplaces, bright three season sunroom, spacious full bath with tiled shower and double vanity, finished lower level with large laundry/bathroom combo, two car garage with plenty of storage, nice yard with patio surrounded with shrubs and trees. This home is a must see!

Key facts

• Mature fruit trees
• Quality cabinetry
• Berry bushes

Tags

• MATURE FRUIT TREES
• BERRY BUSHES
• HARDWOOD FLOORS
• QUALITY CABINETRY
• GRANITE COUNTERTOPS
• CENTER ISLAND

Property features AI

Finance

• Other: Surveyed status: Unknown

Exterior

• Parking: 2-car garage
• Utilities: Public water; Public sewer; Electric service with circuit breaker(s); Fiber optic internet available; Cable available; Telephone service available; VT Gas fuel provider; Electric company: Green Mountain Power
• Home design: Ranch-style home; Existing construction; Facing information not provided
• Construction: Built in 1970; Wood frame construction; Shingle roof; Finished basement (full)
• Exterior features: Paved driveway; Country setting; Landscaped grounds; Level lot; Orchard area; Neighborhood setting; Public road frontage

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Electric range; Refrigerator
• Bedrooms: Master bedroom (main level); Two additional bedrooms (main level)
• Flooring: Ceramic tile; Carpet; Hardwood
• Bathrooms: One full bathroom; One 3/4 bathroom
• Heating & cooling: Natural gas heating; Baseboard heating; Electric heating; Hot air
• Interior features: Finished full basement with interior stairs and storage space; 8 total rooms; Sunroom; Family room (basement); Level B family room
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $670k.

Deal economics

• At list price, monthly cash flow is $13 ($159/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 $540k (19.4% below list).
• Recommended offer: $540k (19.4% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 2.1% in Shelburne — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 76/100 on livability (#14 in VT, #3,526 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, cost of living F.
• Zoned schools: Shelburne Community School (math 47% / reading 65%, grade C+, #29 of 192 statewide, top 15%, 736 students, 14% FRL).
• Market conditions: 43 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 898 units permitted in Chittenden County in 2024 (554 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $5k of loan paydown is wiped out by about $20k of value loss. Plan a longer hold.
• Chittenden County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($650k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 7y 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 $415k; list at $670k implies a 61% gain — meaningful room to come down on a strong offer.

Recommended offer $540,000 (19.4% below list)

Questions for the listing agent

1. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
2. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. 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.
7. 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.
8. 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.

Investment metrics

• 1% rule: 0.81% ✗
• Cap rate: 6.32%
• Cash-on-cash: 0.08%
• DSCR: 1.00
• GRM: 10.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -16.2%
• Equity multiple: 0.42×
• Total profit: $-107,860
• Equity at exit: $99,884

10-year hold

• IRR: -7.9%
• Equity multiple: 0.50×
• Total profit: $-93,447
• Equity at exit: $57,921

Cash invested: $187,572 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 41 Moderately Tenant-Leaning
• State Vermont: 41 Moderately Tenant-Leaning · D+15
• County: — inherits STATE
• City: — inherits STATE

Just-cause in Burlington (2022); strong habitability.

Methodology + full state rankings →

ZIP-level market 05482

• Active inventory: 43
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $5,400 medium
• Mortgage (P&I): −$3,513
• Tax from tax record: −$461 /mo · $5,527/yr
• Insurance: −$279
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,134
• Net cashflow: $13

Break-even live

Break-even rent $5,383

Max offer price $669,900

Occupancy floor 95%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $167,475
• Closing costs: $20,097
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
51 Partridge Way Shelburne, VT	4.0	3.5	2500	$5,400	$2.16	43d	1	0.82mi

Listing history 12 events

1. 2026-06-07
   statusdays on market $669,900 Pending 48 DOM
2. 2026-06-02
   days on market $669,900 Active with Contract 46 DOM
3. 2026-06-01
   days on market $669,900 Active with Contract 45 DOM
4. 2026-05-31
   days on market $669,900 Active with Contract 44 DOM
5. 2026-05-30
   days on market $669,900 Active with Contract 43 DOM
6. 2026-04-28
   historical Active with Contract
7. 2026-04-17
   listed $669,900 Active
8. 2019-04-09
   soldstatus $415,000
9. 2019-04-05
   soldstatus $415,000 Closed 483-char remark

   Show marketing remark (483 chars)

   Desirable Shelburne Location! Very well-maintained home, beautiful oak floors, fantastic open floor plan great for entertaining and family gatherings, glass backsplash and granite countertops in kitchen, two gas fireplaces, bright three season sunroom, spacious full bath with tiled shower and double vanity, finished lower level with large laundry/bathroom combo, two car garage with plenty of storage, nice yard with patio surrounded with shrubs and trees. This home is a must see!

10. 2019-02-28
    status Pending 483-char remark

    Show marketing remark (483 chars)

    Desirable Shelburne Location! Very well-maintained home, beautiful oak floors, fantastic open floor plan great for entertaining and family gatherings, glass backsplash and granite countertops in kitchen, two gas fireplaces, bright three season sunroom, spacious full bath with tiled shower and double vanity, finished lower level with large laundry/bathroom combo, two car garage with plenty of storage, nice yard with patio surrounded with shrubs and trees. This home is a must see!

11. 2019-02-14
    historical Active with Contract 483-char remark

    Show marketing remark (483 chars)

    Desirable Shelburne Location! Very well-maintained home, beautiful oak floors, fantastic open floor plan great for entertaining and family gatherings, glass backsplash and granite countertops in kitchen, two gas fireplaces, bright three season sunroom, spacious full bath with tiled shower and double vanity, finished lower level with large laundry/bathroom combo, two car garage with plenty of storage, nice yard with patio surrounded with shrubs and trees. This home is a must see!

12. 2019-01-24
    listed $425,000 Active 483-char remark

    Show marketing remark (483 chars)

    Desirable Shelburne Location! Very well-maintained home, beautiful oak floors, fantastic open floor plan great for entertaining and family gatherings, glass backsplash and granite countertops in kitchen, two gas fireplaces, bright three season sunroom, spacious full bath with tiled shower and double vanity, finished lower level with large laundry/bathroom combo, two car garage with plenty of storage, nice yard with patio surrounded with shrubs and trees. This home is a must see!

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast VT · Partial reset (capped growth)

• Current annual tax: $5,527 · $461/mo
• Projected year-2 tax: $9,128 · $761/mo
• Expected delta: +$3,600/yr (+$300/mo · 65.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥93°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $64,800
• − Mortgage interest: −$37,525
• − Property taxes: −$5,527
• − Insurance: −$3,350
• − Repairs & maintenance: −$5,184
• − Management: −$5,184
• − Depreciation: −$19,488
• Taxable loss: −$11,458
• Est. tax savings @ 24.0%: +$2,750
• After-tax cash flow: $2,909/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

No district data.

Livability — Shelburne

• Score: 76/100
• State rank: #14
• US rank: #3526

Category grades

Amenities F Commute F Cost of living F Crime A+ Employment A+ Housing A+ Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Shelburne, VT
• Population (ZIP): 7,844

Population outlook (Chittenden County) Hauer SSP2

• Today (2025): 170,769 people
• By 2030: 174,716 · +2.3%
• By 2040: 180,337 · +5.6%
• By 2050: 183,768 · +7.6%
• By 2075: 194,646 · +14.0%
• By 2100: 194,933 · +14.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Two or more races 6% Asian 4% Hispanic / Latino 3%
• Common ancestry: Lithuanian 8% Slovak 5% Italian 3%
• Foreign-born: 10% · Canada, Jamaica
• Languages at home: 94% English-only · French/Haitian/Cajun 2% Other Indo-European 2% Russian/Polish/Slavic 1%

Political lean MEDSL · Chittenden

• 2024 margin: Solid D (+53.6) · D 75.4% · R 21.7% · Other 2.9%
• 2008→2024 swing: +8.9pp toward D · 2008: 44.8pp · 2024: 53.6pp
• All cycles: 2024: D+53.6 2020: D+54.5 2016: D+46.8 2012: D+41.9 2008: D+44.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -106.42%
• Current HPI: 172.0031
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+57.6% since first listed

7 events — show timeline

• 2026-04-28 Contingent — PrimeMLS
• 2026-04-17 Listed $669,900 PrimeMLS
• 2019-04-09 Sold (Public Records) $415,000 Public Records
• 2019-04-05 Sold (MLS) $415,000 PrimeMLS
• 2019-02-28 Pending — PrimeMLS
• 2019-02-14 Contingent — PrimeMLS
• 2019-01-24 Listed $425,000 PrimeMLS

Property tax history

+21.5%/yr

Latest (2024): $5,527 · +12.4% YoY. Source: county tax records.