2109 North Rd

Hinesburg, VT 05461-7111

$29,999B+

2 bd · 1.0 ba · 728 sqft · Built 1995 · Manufactured · Active · 235 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,129/mo
• Mortgage (P&I): −$157
• Tax + insurance: −$43
• HOA: −$498
• Vac / Maint / Mgmt: −$237
• Net cashflow: $193/mo
• Annual: $2,315/yr
• Cap rate: 14.01%
• Cash-on-cash: 27.56%
• DSCR: 2.23
• 1% rule: 3.76%
• Cash to close: $8,400

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $30k.
• At list price, monthly cash flow is $193 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $30k).
• It's been on market 235 days — a 12% lower offer ($26k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $26k (12.0% below list) — sets the bar for market timing.
• In year one you build about $1k of equity ($207 loan paydown + $900 appreciation (3.0% local appreciation)).
• Location reads 66/100 on livability (#54 in VT) — a middle-class / working-renter tenant base. Strengths: crime A+, health & safety A+, housing B; Watch: employment D+, amenities F, commute F.
• Watch-outs: HOA is 44% of rent.
• Market conditions: 1 active listings in the ZIP; 898 units permitted in Chittenden County in 2024 (554 in 5+ unit buildings).
• Chittenden County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 3 sale attempts; this cycle's ask has dropped $14k (31%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $12k; list at $30k implies a 150% gain — meaningful room to come down on a strong offer.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $8k cash investment doubles in ~3 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 235 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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 B-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?
• 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.