223 Sherwood Sq · Essex Junction, VT 05452

$239,900

2 bd · 1.0 ba · 812 sqft · Condo · 94 Days on market

Built 1979 Fair condition $275/mo HOA · 13% of rent

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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 +8.2/30.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Livability +4.6/5.0
• 1% rule +4.0/10.0
• Rent growth +2.5/5.0
• DSCR +2.2/10.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Located in the heart of Essex Junction is this efficient and updated 2 bed, 1 bath condo. The spacious second floor condo has great natural light, is recently painted, has updated kitchen cabinets and countertops, LVP flooring, ceiling fans in the living room and both bedrooms, LED lights, Dishwasher, and more! There's a common (coin operated) washer and dryer in the building. This condo comes with it's own garage with plenty of room for your car and additional storage. Just down the road from the Green Mountain Transit Line (bus route). Less than half a mile from restaurants and shops in Essex Junction's 5 Corners, and a mile and a half from more restaurants and shops at The Essex Experience. Less than 15 minutes to downtown Winooski and Williston, less than 20 minutes to Burlington's Church Street, and just over 30 minutes to Smugglers Notch and Bolton Valley Ski Resorts. This condo could be owner occupied or investor owned, currently boasting an 8.36% CAP rate.

Key facts

• Stone countertops
• Ceiling fans
• Lvp flooring

Tags

• UPDATED KITCHEN CABINETS
• STONE COUNTERTOPS
• LVP FLOORING
• CEILING FANS
• LED LIGHTS
• COMMON WASHER AND DRYER

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $240k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $-222 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $208k (13.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $217k (9.7% below list).
• Recommended offer: $208k (13.4% below list) — sets the bar for cash-flow.
• Cap rate 5.2% vs local median 2.8% in Essex Junction — 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 92/100 on livability (#1 in VT, #25 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, amenities A+; Watch: cost of living D.
• Market conditions: 95 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 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 $2k of loan paydown is wiped out by about $7k 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 94 days — a 9% lower offer ($218k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 9y 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 $127k; list at $240k implies a 89% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $207,764 (13.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 94 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
10. 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?
11. 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.
12. 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.
13. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.90% ✗
• Cap rate: 5.18%
• Cash-on-cash: -3.97%
• DSCR: 0.82
• GRM: 9.2

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: -22.9%
• Equity multiple: 0.21×
• Total profit: $-52,817
• Equity at exit: $35,770

10-year hold

• IRR: -17.0%
• Equity multiple: 0.06×
• Total profit: $-63,387
• Equity at exit: $20,742

Cash invested: $67,172 (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 05452

• Active inventory: 95
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $2,166 high
• Mortgage (P&I): −$1,258
• Tax est. 1.5%: −$300 /mo · $3,598/yr
• Insurance: −$100
• HOA: −$275
• Vacancy / Maint / Mgmt: −$455
• Net cashflow: $-222

Break-even live

Break-even rent $2,447

Max offer price $207,764

Occupancy floor —

Sensitivity live

Price	-10% $-56	-5% $-139	+0% $-222	+5% $-305	+10% $-388
Rent	-10% $-393	-5% $-308	+0% $-222	+5% $-137	+10% $-51
Rate	-1.0pp $-101	-0.5pp $-161	base $-222	+0.5pp $-284	+1.0pp $-347

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: $59,975
• Closing costs: $7,197
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2 Brickyard Rd Unit A Essex Junction, VT	1.0	1.0	900	$2,000	$2.22	23d	1	0.19mi
177 Autumn Pond Way Unit 177-301 Essex Junction, VT	2.0	2.0	1057	$2,600	$2.46	45d	1	0.63mi
177 Autumn Pond Way Unit 177-208 Essex Junction, VT	2.0	2.0	933	$2,550	$2.73	45d	1	0.63mi
375 Autumn Pond Way Essex Junction, VT	1.0–2.0	1.0–2.0	957	$2,650	$2.77	23d	9	0.70mi
239 Autumn Pond Way Unit 239-104 Essex Junction, VT	1.0	1.0	788	$2,200	$2.79	45d	1	0.71mi

HOA detail condo

• Monthly dues: $275 · $3,300/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 7 events

1. 2026-05-31
   days on market $239,900 Active 94 DOM
2. 2026-05-30
   days on market $239,900 Active 93 DOM
3. 2026-04-10
   price $239,900 979-char remark

   Show marketing remark (979 chars)

   Located in the heart of Essex Junction is this efficient and updated 2 bed, 1 bath condo. The spacious second floor condo has great natural light, is recently painted, has updated kitchen cabinets and countertops, LVP flooring, ceiling fans in the living room and both bedrooms, LED lights, Dishwasher, and more! There's a common (coin operated) washer and dryer in the building. This condo comes with it's own garage with plenty of room for your car and additional storage. Just down the road from the Green Mountain Transit Line (bus route). Less than half a mile from restaurants and shops in Essex Junction's 5 Corners, and a mile and a half from more restaurants and shops at The Essex Experience. Less than 15 minutes to downtown Winooski and Williston, less than 20 minutes to Burlington's Church Street, and just over 30 minutes to Smugglers Notch and Bolton Valley Ski Resorts. This condo could be owner occupied or investor owned, currently boasting an 8.36% CAP rate.

4. 2026-02-26
   listed $245,000 Active 979-char remark

   Show marketing remark (979 chars)

   Located in the heart of Essex Junction is this efficient and updated 2 bed, 1 bath condo. The spacious second floor condo has great natural light, is recently painted, has updated kitchen cabinets and countertops, LVP flooring, ceiling fans in the living room and both bedrooms, LED lights, Dishwasher, and more! There's a common (coin operated) washer and dryer in the building. This condo comes with it's own garage with plenty of room for your car and additional storage. Just down the road from the Green Mountain Transit Line (bus route). Less than half a mile from restaurants and shops in Essex Junction's 5 Corners, and a mile and a half from more restaurants and shops at The Essex Experience. Less than 15 minutes to downtown Winooski and Williston, less than 20 minutes to Burlington's Church Street, and just over 30 minutes to Smugglers Notch and Bolton Valley Ski Resorts. This condo could be owner occupied or investor owned, currently boasting an 8.36% CAP rate.

5. 2017-07-21
   soldstatus $127,000 Closed 598-char remark

   Show marketing remark (598 chars)

   Conveniently located, second floor condo features a well maintained green space in the back of the development. Master bedroom showcases a spacious walk-in closet, which is unique to this development. Bright, open floor plan in the kitchen/dining/living room. Washer and dryer located on site. Close to bus route and train station. If you enjoy leisurely walks after work or on the weekends this is the place for you; short walk to Maple Street Park to enjoy the pool and all of the events, or walk to the library to enjoy the events held there. Check out the small eateries located nearby as well.

6. 2017-06-15
   status Pending 598-char remark

   Show marketing remark (598 chars)

   Conveniently located, second floor condo features a well maintained green space in the back of the development. Master bedroom showcases a spacious walk-in closet, which is unique to this development. Bright, open floor plan in the kitchen/dining/living room. Washer and dryer located on site. Close to bus route and train station. If you enjoy leisurely walks after work or on the weekends this is the place for you; short walk to Maple Street Park to enjoy the pool and all of the events, or walk to the library to enjoy the events held there. Check out the small eateries located nearby as well.

7. 2017-05-24
   listed $128,800 Active 598-char remark

   Show marketing remark (598 chars)

   Conveniently located, second floor condo features a well maintained green space in the back of the development. Master bedroom showcases a spacious walk-in closet, which is unique to this development. Bright, open floor plan in the kitchen/dining/living room. Washer and dryer located on site. Close to bus route and train station. If you enjoy leisurely walks after work or on the weekends this is the place for you; short walk to Maple Street Park to enjoy the pool and all of the events, or walk to the library to enjoy the events held there. Check out the small eateries located nearby as well.

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 69% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,987
• − Mortgage interest: −$13,438
• − Property taxes: −$3,598
• − Insurance: −$1,200
• − Repairs & maintenance: −$2,079
• − Management: −$2,079
• − HOA: −$3,300
• − Depreciation: −$6,979
• Taxable loss: −$6,686
• Est. tax savings @ 24.0%: +$1,605
• After-tax cash flow: $-1,060/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This moderate-rehab property requires exterior repairs and maintenance, but has potential for significant value increase with updates.

Repairs flagged

• Major Exterior siding — Significant wear and tear
• Major Exterior paint — Significant wear and tear

Value-add opportunities

• Resale Exterior painting — Enhances curb appeal and property value
• Rental Landscaping — Improves tenant satisfaction and property value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior siding · Significant wear and tear	Major	$15,000–50,000
Exterior paint · Significant wear and tear	Major	$15,000–50,000
Total estimated repair cost · 2 items		$30,000–100,000

Value-add ROI direction

• Resale Exterior painting — Enhances curb appeal and property value ↑
• Rental Landscaping — Improves tenant satisfaction and property value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

No district data.

Livability — Essex Junction

• Score: 92/100
• State rank: #1
• US rank: #25

Category grades

Amenities A+ Commute A+ Cost of living D 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: Essex Junction, VT
• County: Chittenden County · 110,603 people
• Metro: Burlington-South Burlington, VT
• Population (ZIP): 22,626
• Household income: $101,349
• Rent vs Own: 32.3% rent · 67.7% own
• Severe rent burden: 512.0

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 (84%)
• Race & ethnicity: White 84% Two or more races 6% Asian 5% Black 4% Hispanic / Latino 2%
• Common ancestry: Lithuanian 7% Romanian 4% Italian 3%
• Foreign-born: 12% · Canada, India, China
• Languages at home: 86% English-only · Other Indo-European 5% Russian/Polish/Slavic 2% French/Haitian/Cajun 2%

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: ▼ -218.29%
• Current HPI: 310.788
• Rent YoY: —
• Metro: Burlington-South Burlington, VT
• State GDP YoY: —
• F500 in state: 0

Price history

+86.3% since first listed

5 events — show timeline

• 2026-04-10 Price Changed $239,900 PrimeMLS
• 2026-02-26 Listed $245,000 PrimeMLS
• 2017-07-21 Sold (MLS) $127,000 PrimeMLS
• 2017-06-15 Pending — PrimeMLS
• 2017-05-24 Listed $128,800 PrimeMLS