2026 N Main St #499

Beecher Falls, VT 03592

$399,000B-

35 bd · 20.0 ba · 2,459 sqft · Built 1981 · MultiFamily · Pending · 30 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $5,056/mo
• Mortgage (P&I): −$2,092
• Tax + insurance: −$665
• HOA: −$0
• Vac / Maint / Mgmt: −$1,062
• Net cashflow: $1,237/mo
• Annual: $14,842/yr
• Cap rate: 10.01%
• Cash-on-cash: 13.29%
• DSCR: 1.59
• 1% rule: 1.27%
• Cash to close: $111,720

Investor read

• This is a 4×2bd/0.75ba + 1×1bd/0.75ba units multifamily listed at $399k. Condition is rated good.
• At list price, monthly cash flow is $1k ($15k/yr) — positive. Per door: $247/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $399k).
• It's been on market 30 days — a 2% lower offer ($393k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $393k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• Location reads 53/100 on livability (#116 in VT) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Pittsburg School District (rural): math 20% / reading 30% proficiency, ranked #165 of 171 in NH (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 95 units permitted in Coos County in 2024 (0 in 5+ unit buildings).
• Coos 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 $112k cash investment doubles in ~9 years — after that, you're playing with house money.
• Cap rate 10.0% vs local median 3.1% in Beecher Falls — 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

• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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 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.