276 Ledgemere Pt

Castleton Four Corners, VT 05732

$149,900B+

2 bd · 1.5 ba · 1,248 sqft · Built 2003 · Manufactured · Pending · 5 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,732/mo
• Mortgage (P&I): −$786
• Tax + insurance: −$300
• HOA: −$0
• Vac / Maint / Mgmt: −$574
• Net cashflow: $1,073/mo
• Annual: $12,874/yr
• Cap rate: 14.88%
• Cash-on-cash: 30.67%
• DSCR: 2.36
• 1% rule: 1.82%
• Cash to close: $41,972

Investor read

• This is a 2-bed/1.5-bath manufactured listed at $150k.
• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $150k).
• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $10k of equity ($1k loan paydown + $9k appreciation (6.1% local appreciation)).
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Market conditions: 7 active listings in the ZIP; 90 units permitted in Rutland County in 2024 (0 in 5+ unit buildings).
• Rutland County population projected at -28% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (6.1% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• 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.