144 Donna Ln

Washington, VT 05675

$45,000A-

2 bd · 1.0 ba · 924 sqft · Built 1979 · Manufactured · Active · 25 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,179/mo
• Mortgage (P&I): −$236
• Tax + insurance: −$342
• HOA: −$0
• Vac / Maint / Mgmt: −$248
• Net cashflow: $353/mo
• Annual: $4,235/yr
• Cap rate: 24.07%
• Cash-on-cash: 63.49%
• DSCR: 3.83
• 1% rule: 2.62%
• Cash to close: $12,600

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $45k.
• At list price, monthly cash flow is $353 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $45k).
• It's been on market 25 days — a 2% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $44k (1.5% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($311 loan paydown + $1k appreciation (3.0% local appreciation)).
• Location reads: area grade A — affects rentability + tenant quality, not the cash-flow math above.
• Zoned schools: Washington Village School (math 44% / reading 54%, grade D, #50 of 192 statewide, top 32%, 118 students, 37% FRL); Orange Center School (math 27% / reading 27%, grade F, #22 of 26 statewide, top 84%, 77 students, 35% FRL).
• Watch-outs: flood insurance adds $314/mo.
• Market conditions: 6 active listings in the ZIP; 74 units permitted in Orange County in 2024 (28 in 5+ unit buildings).
• Orange County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $24k; list at $45k implies a 88% gain — meaningful room to come down on a strong offer.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~3 years — after that, you're playing with house money.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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.