33 Field Ave · Rutland, VT 05701

$200,000

3 bd · 2.0 ba · 1,360 sqft · SingleFamily public records · 58 Days on market

Built 1900 10,454 sqft lot $147/sqft · 23% below area Est $261k · 23% under

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Why this score? — see what drove the B- 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 +23.9/30.0
• ARV discount +15.0/15.0
• DSCR +7.7/10.0
• 1% rule +5.5/10.0
• Schools +5.0/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming 3-bedroom, 2-bath home full of potential in a highly desirable neighborhood. This property offers solid updates where it counts, including updated electrical, newer windows, and an efficient heat pump/mini-split system for year-round comfort. The foundation has been recently redone, providing added peace of mind for the next owner. With just a few cosmetic updates, this home presents an excellent opportunity to build equity and make it your own. Spacious layout, great bones, and located in a fantastic area close to local amenities, schools, and conveniences. Whether you're a first-time buyer, investor, or someone looking for a home to personalize, this is a property with tremendous upside and value. Don’t miss your chance to own in this sought-after location!

Key facts

• Updated electrical
• Newer roof
• Newer windows

Tags

• UPDATED ELECTRICAL
• NEWER WINDOWS
• NEWER ROOF
• EFFICIENT HEAT PUMP
• HARDWOOD FLOORS
• RECENTLY REDONE FOUNDATION

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $388 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).
• Recommended offer: $194k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.6% vs local median 4.3% in Rutland — 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 81/100 on livability (#6 in VT, #1,410 nationally) — a professional / high-income tenant draw. Strengths: schools A+, commute A+, cost of living A+; Watch: employment C-, crime F.
• Market conditions: 97 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 90 units permitted in Rutland County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Rutland County population projected at -28% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 58 days — a 3% lower offer ($194k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y ago; this cycle's ask has dropped $25k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $100k; list at $200k implies a 100% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $194,000 (3.0% below list)

Questions for the listing agent

1. It's been on market 58 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — 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 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?
5. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.05% ✓
• Cap rate: 8.62%
• Cash-on-cash: 8.31%
• DSCR: 1.37
• GRM: 7.9

CMA / ARV

• ARV (median comp): $261,067
• List price: $200,000
• Delta: -23.39%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2 Jan Ave	0.26mi	3/2.0	1,258 (-8%)	10mo	$325,000	$258	67
227 Church St	0.08mi	3/1.0	1,561 (+15%)	2mo	$284,000	$182	66
25 Vernon St	0.24mi	3/1.0	1,232 (-9%)	9mo	$177,000	$144	62
11 North St	0.59mi	3/1.5	1,332 (-2%)	6mo	$260,000	$195	62
200 Lincoln Ave	0.23mi	2/1.5 (-1)	1,478 (+9%)	11mo	$262,000	$177	58
17 Phillips St	0.32mi	3/2.0	1,507 (+11%)	11mo	$260,000	$173	58
121 Pearl St	0.72mi	3/1.5	1,318 (-3%)	8mo	$271,600	$206	53
263 Lincoln Ave	0.22mi	4/1.5 (+1)	1,560 (+15%)	7mo	$287,500	$184	52
17 Hillcrest Dr	0.62mi	3/2.5	1,312 (-4%)	14mo	$405,000	$309	52
181 Adams St	0.41mi	2/1.5 (-1)	1,232 (-9%)	11mo	$285,000	$231	49
178 Adams St	0.42mi	2/1.0 (-1)	1,203 (-12%)	10mo	$282,000	$234	44
119 N Main St	0.71mi	4/1.5 (+1)	1,512 (+11%)	1mo	$110,000	$73	40

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -3.7%
• Equity multiple: 0.86×
• Total profit: $-7,742
• Equity at exit: $29,821

10-year hold

• IRR: 6.0%
• Equity multiple: 1.44×
• Total profit: $24,919
• Equity at exit: $17,292

Cash invested: $56,000 (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 05701

• Home prices YoY: -18.1%
• Active inventory: 97
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $2,100 medium
• Mortgage (P&I): −$1,049
• Tax from tax record: −$139 /mo · $1,668/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$441
• Net cashflow: $388

Break-even live

Break-even rent $1,609

Max offer price $200,000

Occupancy floor 77%

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
40 Cottage St Unit 3 Rutland, VT	2.0	2.0	1000	$2,100	$2.10	43d	1	1.12mi

Listing history 22 events

1. 2026-06-18
   days on market $200,000 Active 58 DOM
2. 2026-06-17
   days on market $200,000 Active 57 DOM
3. 2026-06-16
   days on market $200,000 Active 56 DOM
4. 2026-06-15
   days on market $200,000 Active 55 DOM
5. 2026-06-15
   days on market $200,000 Active 54 DOM
6. 2026-06-13
   days on market $200,000 Active 53 DOM
7. 2026-06-12
   pricedays on market $200,000 Active 52 DOM
8. 2026-06-09
   days on market $215,000 Active 49 DOM
9. 2026-06-08
   days on market $215,000 Active 48 DOM
10. 2026-06-08
    days on market $215,000 Active 47 DOM
11. 2026-06-07
    days on market $215,000 Active 46 DOM
12. 2026-06-03
    days on market $215,000 Active 43 DOM
13. 2026-06-02
    days on market $215,000 Active 42 DOM
14. 2026-06-01
    days on market $215,000 Active 41 DOM
15. 2026-05-31
    days on market $215,000 Active 40 DOM
16. 2026-05-17
    price $215,000 784-char remark

    Show marketing remark (784 chars)

    Charming 3-bedroom, 2-bath home full of potential in a highly desirable neighborhood. This property offers solid updates where it counts, including updated electrical, newer windows, and an efficient heat pump/mini-split system for year-round comfort. The foundation has been recently redone, providing added peace of mind for the next owner. With just a few cosmetic updates, this home presents an excellent opportunity to build equity and make it your own. Spacious layout, great bones, and located in a fantastic area close to local amenities, schools, and conveniences. Whether you're a first-time buyer, investor, or someone looking for a home to personalize, this is a property with tremendous upside and value. Don’t miss your chance to own in this sought-after location!

17. 2026-04-21
    listed $225,000 Active 784-char remark

    Show marketing remark (784 chars)

    Charming 3-bedroom, 2-bath home full of potential in a highly desirable neighborhood. This property offers solid updates where it counts, including updated electrical, newer windows, and an efficient heat pump/mini-split system for year-round comfort. The foundation has been recently redone, providing added peace of mind for the next owner. With just a few cosmetic updates, this home presents an excellent opportunity to build equity and make it your own. Spacious layout, great bones, and located in a fantastic area close to local amenities, schools, and conveniences. Whether you're a first-time buyer, investor, or someone looking for a home to personalize, this is a property with tremendous upside and value. Don’t miss your chance to own in this sought-after location!

18. 2022-09-16
    soldstatus $99,900 Closed 373-char remark

    Show marketing remark (373 chars)

    Corner Lot, Great location, Ready for renovation. This Colonial 3 bed 1 bath 1,360 sqft home is located in the heart of the Rutland City and within walking distance to Rutland country club. Spacious layout featuring large comfortable rooms, and kitchen with great bones but will need some TLC. It will make a perfect starter home, investment property or renovation project.

19. 2022-09-13
    soldstatus $99,900
20. 2022-06-13
    status Pending 373-char remark

    Show marketing remark (373 chars)

    Corner Lot, Great location, Ready for renovation. This Colonial 3 bed 1 bath 1,360 sqft home is located in the heart of the Rutland City and within walking distance to Rutland country club. Spacious layout featuring large comfortable rooms, and kitchen with great bones but will need some TLC. It will make a perfect starter home, investment property or renovation project.

21. 2022-03-17
    listed $99,900 Active 373-char remark

    Show marketing remark (373 chars)

    Corner Lot, Great location, Ready for renovation. This Colonial 3 bed 1 bath 1,360 sqft home is located in the heart of the Rutland City and within walking distance to Rutland country club. Spacious layout featuring large comfortable rooms, and kitchen with great bones but will need some TLC. It will make a perfect starter home, investment property or renovation project.

22. 1997-01-15
    soldstatus $20,000

ⓘ 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: $1,668 · $139/mo
• Projected year-2 tax: $2,734 · $228/mo
• Expected delta: +$1,066/yr (+$89/mo · 63.9%)

ⓘ 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 · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,200
• − Mortgage interest: −$11,203
• − Property taxes: −$1,668
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,016
• − Management: −$2,016
• − Depreciation: −$5,818
• Taxable income: $1,479
• Est. tax owed @ 24.0%: −$355
• After-tax cash flow: $4,299/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 — Rutland

• Score: 81/100
• State rank: #6
• US rank: #1410

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rutland, VT
• Population (ZIP): 20,142

Population outlook (Rutland County) Hauer SSP2

• Today (2025): 55,307 people
• By 2030: 52,364 · -5.3%
• By 2040: 45,751 · -17.3%
• By 2050: 39,627 · -28.4%
• By 2075: 29,080 · -47.4%
• By 2100: 20,673 · -62.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Lithuanian 14% Romanian 6% Slovak 3%
• Foreign-born: 2% · Canada
• Languages at home: 94% English-only · Spanish 3% French/Haitian/Cajun 1% Other Asian/Pacific 1%

Political lean MEDSL · Rutland

• 2024 margin: Lean D (+5.3) · D 51.3% · R 46.0% · Other 2.7%
• 2008→2024 swing: -19.3pp toward R · 2008: 24.6pp · 2024: 5.3pp
• All cycles: 2024: D+5.3 2020: D+10.5 2016: D+4.2 2012: D+22.0 2008: D+24.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -63.90%
• Current HPI: 288.4214
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+975.0% since first listed

7 events — show timeline

• 2026-05-17 Price Changed $215,000 PrimeMLS
• 2026-04-21 Listed $225,000 PrimeMLS
• 2022-09-16 Sold (MLS) $99,900 PrimeMLS
• 2022-09-13 Sold (Public Records) $99,900 Public Records
• 2022-06-13 Pending — PrimeMLS
• 2022-03-17 Listed $99,900 PrimeMLS
• 1997-01-15 Sold (Public Records) $20,000 Public Records

Property tax history

+16.5%/yr

Latest (2024): $1,668 · +8.2% YoY. Source: county tax records.