66 Elm Ln

Starksboro, VT 05487

$79,900B-

3 bd · 2.0 ba · 960 sqft · Built 2001 · Manufactured · Active · 4 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,357/mo
• Mortgage (P&I): −$419
• Tax + insurance: −$146
• HOA: −$385
• Vac / Maint / Mgmt: −$285
• Net cashflow: $122/mo
• Annual: $1,464/yr
• Cap rate: 8.96%
• Cash-on-cash: 9.52%
• DSCR: 1.42
• 1% rule: 1.70%
• Cash to close: $22,372

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $80k.
• At list price, monthly cash flow is $122 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $5k of equity ($552 loan paydown + $4k appreciation (5.1% local appreciation)).
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Zoned schools: Robinson School (math 37% / reading 47%, grade F, #84 of 192 statewide, top 48%, 106 students, 29% FRL).
• Watch-outs: flood insurance adds $56/mo; HOA is 28% of rent.
• Market conditions: 8 active listings in the ZIP; 104 units permitted in Addison County in 2024 (6 in 5+ unit buildings).
• Addison County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 5y 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.
• At projected returns (5.1% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• 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?
• 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.