69 Grove St

Brattleboro, VT 05301

$245,000C-

4 bd · 2.0 ba · 2,148 sqft · Built 1880 · Other · Active · 34 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,446/mo
• Mortgage (P&I): −$1,285
• Tax + insurance: −$331
• HOA: −$0
• Vac / Maint / Mgmt: −$514
• Net cashflow: $316/mo
• Annual: $3,796/yr
• Cap rate: 7.84%
• Cash-on-cash: 5.53%
• DSCR: 1.25
• 1% rule: 1.00%
• Cash to close: $68,600

Investor read

• This is a 4-bed/2.0-bath other listed at $245k.
• At list price, monthly cash flow is $316 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $245k (0.2% below list).
• It's been on market 34 days — a 3% lower offer ($238k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $238k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads 67/100 on livability (#42 in VT) — a middle-class / working-renter tenant base. Strengths: schools A+, health & safety A+, cost of living B; Watch: crime F, amenities D-, commute F.
• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 82 active listings in the ZIP; 188 units permitted in Windham County in 2024 (0 in 5+ unit buildings).
• Windham County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 22y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $146k; list at $245k implies a 68% gain — meaningful room to come down on a strong offer.
• Cap rate 7.8% vs local median 4.5% in Brattleboro — 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.
• This rent runs 45% of the median local income ($66k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1880 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.