9 Stryhas Trailer Ct

Ludlow, VT 05149

$179,000C

3 bd · 2.0 ba · 1,120 sqft · Built 2004 · Manufactured · Active · 322 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,831/mo
• Mortgage (P&I): −$939
• Tax + insurance: −$236
• HOA: −$325
• Vac / Maint / Mgmt: −$384
• Net cashflow: $-53/mo
• Annual: $-637/yr
• Cap rate: 6.38%
• Cash-on-cash: 0.32%
• DSCR: 1.01
• 1% rule: 1.02%
• Cash to close: $50,120

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $179k.
• At list price, monthly cash flow is $-53 ($-637/yr) — negative.
• To cash-flow at today's rent, offer at most $170k (5.2% below list).
• Meets the 1% rule at list price ($2k rent vs $179k).
• It's been on market 322 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $158k (12.0% below list) — sets the bar for market timing.
• In year one you build about $1k of equity ($1k loan paydown + $-38 appreciation (-0.0% local appreciation)).
• Location reads 73/100 on livability (#20 in VT, #4,932 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, health & safety A+, housing B+; Watch: schools C-, amenities F, commute F.
• Watch-outs: flood insurance adds $66/mo.
• Market conditions: 92 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 339 units permitted in Windsor County in 2024 (240 in 5+ unit buildings).
• Windsor County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 18y ago; this cycle's ask has dropped $31k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $90k; list at $179k implies a 100% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.4% vs local median 0.3% in Ludlow — 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

• 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?
• It's been on market 322 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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.
• 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.