12 Eagle Ln

South Hero, VT 05486

$39,000B+

2 bd · 1.0 ba · 687 sqft · Built 1990 · Manufactured · Active · 296 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,258/mo
• Mortgage (P&I): −$205
• Tax + insurance: −$29
• HOA: −$0
• Vac / Maint / Mgmt: −$264
• Net cashflow: $761/mo
• Annual: $9,126/yr
• Cap rate: 29.69%
• Cash-on-cash: 83.57%
• DSCR: 4.72
• 1% rule: 3.23%
• Cash to close: $10,920

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $39k.
• At list price, monthly cash flow is $761 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $39k).
• It's been on market 296 days — a 12% lower offer ($34k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $34k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $270 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Zoned schools: Folsum Education & Community Center (math 37% / reading 42%, grade F, #96 of 192 statewide, top 57%, 141 students, 13% FRL).
• Market conditions: 36 active listings in the ZIP; 22 units permitted in Grand Isle County in 2024 (0 in 5+ unit buildings).
• Grand Isle County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.
• Cap rate 29.7% vs local median 1.2% in South Hero — 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.

Questions for listing agent

• It's been on market 296 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• 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.
• 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.