28 Pleasant St · Barre, VT 05641

$230,000

4 bd · 3.0 ba · 2,296 sqft · MultiFamily public records · 81 Days on market

Built 1893 9,583 sqft lot Est $259k · 11% 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 +30.0/30.0
• ARV discount +12.6/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +5.0/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Welcome to 28 Pleasant Street! This building offers 3 units; a 2 bedroom, a one bedroom, and a studio apartment. You could live in one and rent the other two, to help with the mortgage; or rent out all three. Whether you are looking to start or add to your retail investment portfolio, this is one that you may want to see.

Key facts

• 9,583 sq ft lot
• Garage
• Built 1893

Property features AI

Exterior

• Parking: 1-car garage
• Utilities: Public water; Public sewer; Electric service with circuit breaker(s); Cable available; DSL available
• Home design: New Englander-style multi-unit building; Existing construction
• Construction: Built in 1893; Wood frame construction; Shingle roof; Approximate total finished area reported (value available in listing records)
• Exterior features: City lot; Paved driveway; Public road frontage

Interior

• Bedrooms: Three-unit property: one unit with 2 bedrooms, one unit with 1 bedroom, and one studio unit
• Bathrooms: Unit 1: 1 bathroom; Unit 2: 1 bathroom; Unit 3: studio (bathroom count not specified)
• Heating & cooling: Oil heating; No central air / no cooling
• Interior features: Basement present with interior access; Unfinished basement

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath multifamily listed at $230k.

Deal economics

• At list price, monthly cash flow is $2k ($22k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $230k).
• Recommended offer: $216k (6.0% below list) — sets the bar for market timing.
• Cap rate 15.9% vs local median 4.5% in Barre — 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 60/100 on livability (#92 in VT) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A-; Watch: schools F, crime F, amenities F.
• Market conditions: 91 active listings in the ZIP; solid renter incomes; 185 units permitted in Washington County in 2024 (30 in 5+ unit buildings).
• At $4,209/mo this rent would consume 66% of the median local household income ($77k/yr) (locally 588% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• 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.
• Washington County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $64k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 81 days — a 6% lower offer ($216k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $126k; list at $230k implies a 83% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1893 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $216,200 (6.0% below list)

Questions for the listing agent

1. It's been on market 81 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1893 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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?
7. 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.
8. 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.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.83% ✓
• Cap rate: 15.86%
• Cash-on-cash: 34.18%
• DSCR: 2.52
• GRM: 4.6

CMA / ARV

• ARV (on-the-fly): $259,448
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
54 Maple Ave	0.12mi	4/3.0	2,189 (-5%)	10mo	$185,000	$85	78
2 Long St	0.26mi	5/4.0 (+1)	2,304 (+0%)	8mo	$295,000	$128	72
21 Brook St	0.12mi	5/2.0 (+1)	2,352 (+2%)	18mo	$140,000	$60	66
9 Grant Ave	0.64mi	3/2.0 (-1)	2,066 (-10%)	24mo	$233,000	$113	25

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: 29.6%
• Equity multiple: 2.24×
• Total profit: $79,571
• Equity at exit: $34,294

10-year hold

• IRR: 36.9%
• Equity multiple: 4.41×
• Total profit: $219,749
• Equity at exit: $19,886

Cash invested: $64,400 (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 05641

• Home prices YoY: -19.7%
• Active inventory: 91
• Price-to-rent: 12.7×

Monthly cashflow live

• Estimated rent: $4,209 medium
• Mortgage (P&I): −$1,206
• Tax from tax record: −$189 /mo · $2,264/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$884
• Net cashflow: $1,834

Break-even live

Break-even rent $1,887

Max offer price $230,000

Occupancy floor 51%

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
1× unit	2	1	$1,514
1× unit	1	1	$1,389
1× unit	0	1	$1,306
Total (3 units)			$4,209

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: $57,500
• Closing costs: $6,900
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-19
   days on market $230,000 Active 81 DOM
2. 2026-06-18
   days on market $230,000 Active 80 DOM
3. 2026-06-17
   days on market $230,000 Active 79 DOM
4. 2026-06-16
   days on market $230,000 Active 78 DOM
5. 2026-06-15
   days on market $230,000 Active 77 DOM
6. 2026-06-14
   days on market $230,000 Active 75 DOM
7. 2026-06-12
   days on market $230,000 Active 74 DOM
8. 2026-06-09
   days on market $230,000 Active 71 DOM
9. 2026-06-08
   days on market $230,000 Active 70 DOM
10. 2026-06-07
    days on market $230,000 Active 69 DOM
11. 2026-06-04
    days on market $230,000 Active 65 DOM
12. 2026-06-02
    days on market $230,000 Active 64 DOM
13. 2026-06-01
    days on market $230,000 Active 63 DOM
14. 2026-05-31
    days on market $230,000 Active 62 DOM
15. 2026-05-31
    days on market $230,000 Active 61 DOM
16. 2026-03-30
    listed $230,000 Active
17. 2015-11-16
    soldstatus $125,500
18. 2004-04-30
    soldstatus $85,000

ⓘ 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: $2,264 · $189/mo
• Projected year-2 tax: $3,317 · $276/mo
• Expected delta: +$1,053/yr (+$88/mo · 46.5%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 8 d/yr ≥89°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $50,508
• − Mortgage interest: −$12,884
• − Property taxes: −$2,264
• − Insurance: −$1,150
• − Repairs & maintenance: −$4,041
• − Management: −$4,041
• − Depreciation: −$6,691
• Taxable income: $19,438
• Est. tax owed @ 24.0%: −$4,665
• After-tax cash flow: $17,348/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 — Barre

• Score: 60/100
• State rank: #92
• US rank: #19335

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Barre, VT
• County: Washington County · 16,936 people
• City population: 16,936
• Metro: Barre, VT
• Population (ZIP): 16,936
• Household income: $76,855
• Rent vs Own: 30.2% rent · 69.8% own
• Severe rent burden: 588.0

Population outlook (Washington County) Hauer SSP2

• Today (2025): 56,608 people
• By 2030: 54,731 · -3.3%
• By 2040: 50,227 · -11.3%
• By 2050: 45,893 · -18.9%
• By 2075: 36,818 · -35.0%
• By 2100: 28,143 · -50.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Hispanic / Latino 4% Two or more races 3% Black 1%
• Common ancestry: Lithuanian 15% Slovak 7% Serbian 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · French/Haitian/Cajun 1% Spanish 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Washington

• 2024 margin: Solid D (+43.4) · D 70.0% · R 26.6% · Other 3.4%
• 2008→2024 swing: +2.4pp toward D · 2008: 41.0pp · 2024: 43.4pp
• All cycles: 2024: D+43.4 2020: D+46.1 2016: D+37.0 2012: D+42.2 2008: D+41.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -82.01%
• Current HPI: 333.7046
• Rent YoY: —
• Metro: Barre, VT
• State GDP YoY: —
• F500 in state: 0

Price history

+170.6% since first listed

3 events — show timeline

• 2026-03-30 Listed $230,000 PrimeMLS
• 2015-11-16 Sold (Public Records) $125,500 Public Records
• 2004-04-30 Sold (Public Records) $85,000 Public Records

Property tax history

-4.7%/yr

Latest (2024): $2,264 · +8.0% YoY. Source: county tax records.