1931 Vermont Route 67E

South Shaftsbury, VT 05262

$825,000C

12 bd · 8.0 ba · 5,568 sqft · Built 1867 · MultiFamily · Active · 79 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $8,594/mo
• Mortgage (P&I): −$4,326
• Tax + insurance: −$1,375
• HOA: −$0
• Vac / Maint / Mgmt: −$1,805
• Net cashflow: $1,088/mo
• Annual: $13,054/yr
• Cap rate: 7.88%
• Cash-on-cash: 5.65%
• DSCR: 1.25
• 1% rule: 1.04%
• Cash to close: $231,000

Investor read

• This is a 4 × 3-bed/2.0-bath units multifamily listed at $825k. Condition is rated good.
• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $272/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($9k rent vs $825k).
• It's been on market 79 days — a 6% lower offer ($776k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $776k (6.0% below list) — sets the bar for market timing.
• In year one you build about $6k of equity ($6k loan paydown + $405 appreciation (0.1% local appreciation)).
• Location reads 59/100 on livability (#100 in VT) — a working-class tenant base; expect higher turnover. Strengths: housing A+, crime B; Watch: cost of living C-, health & safety D, schools F.
• Watch-outs: built in 1867 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 19 active listings in the ZIP; 59 units permitted in Bennington County in 2024 (0 in 5+ unit buildings).
• Bennington County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (0.1% appreciation + 3.0% rent growth), your $231k cash investment doubles in ~9 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$53k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 79 days. Have you received any prior offers? Is the seller open to a 6% 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?
• Built in 1867 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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.