123/125 Qtr 4 Grand Summit Way Unit 123/125, Qtr 4 · Dover, VT 05356

$32,000

1 bd · 2.0 ba · 771 sqft · Condo · 274 Days on market

Built 1998 $595/mo HOA · 58% of rent

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Why this score? — see what drove the C- 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 +13.0/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +6.1/10.0
• Schools +5.0/10.0
• DSCR +3.9/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Experience the ultimate in flexibility and mountain living with this deeded quartershare at the Grand Summit Hotel. Enjoy 13 weeks of vacation annually—one week every 28 days—on a rotating basis. Use it, rent it, or trade it for other destinations! This spacious mountain-side lockout unit, the closest unit to the back door to the slopes, comfortably sleeps 8. Unit 123 is a hotel room with 2 queen-size beds, a full bath, & a balcony overlooking the slopes & the wedding garden. The adjoining unit, 125, is a studio that offers an open-concept kitchen & dining room, a large living area with a queen sleeper sofa, a queen Murphy bed, & a full bath. This unit is

Key facts

• Full-service gym
• $595 HOA
• Community pool

Tags

• MOUNTAIN-SIDE LOCKOUT UNIT
• BALCONY OVERLOOKING THE SLOPES
• SKI-IN SKI-OUT CONVENIENCE
• YEAR-ROUND VALET PARKING
• OWNER'S PRIVATE LOUNGE
• FULL-SERVICE GYM

Property features AI

Finance

• Other: Resort property located at Grand Summit with directions to mount snow/main entrance; Association-maintained paved road frontage
• Financial info: Timeshare/fractional ownership: 25% ownership (timeshare/fractional arrangement)
• HOA & community: Condo association: Grand Summit; Quarterly condo fees; Quarterly fee amount listed (amount withheld from public display); Condo fees include cable, cooling, electric, heat, hot water, internet, landscaping, plowing, trash, water, and condo association services; Association amenities include building maintenance, common acreage, coin laundry, exercise facility, hot tub, heated in-ground pool, sauna, locker rooms, master insurance, snow removal, and trash removal

Exterior

• Parking: Shared parking/driveway (paved)
• Utilities: Drilled well and public water sources; Community sewer; 200 Amp electrical service; High-speed internet available at site
• Home design: Hotel-style property; Unit identified as 123/125, Qtr 4; Red exterior
• Construction: Built in 1998; Clapboard exterior and other construction materials; Asphalt shingle roof; Surveyed
• Exterior features: Adjoins state/national forest; Near golf course; Near skiing; Ski area access; Ski trailside; Scenic views; Common/shared paved driveway; Common acreage (8 acres)

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Electric stove
• Bedrooms: Timeshare/fractional unit (25% ownership) — bedroom details not provided
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Propane heat; Wall heating units; Wall air-conditioning units
• Interior features: 2 total rooms; Views and proximity to ski area and trails
• Laundry & utility: Coin laundry available (association amenity)

What this means for you Summary

Snapshot

• This is a 1-bed/2.0-bath condo listed at $32k.

Deal economics

• At list price, monthly cash flow is $-2 ($-22/yr) — negative.
• To cash-flow at today's rent, offer at most $32k (0.8% below list).
• Meets the 1% rule at list price ($1k rent vs $32k).
• Recommended offer: $28k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Market conditions: 101 active listings in the ZIP; 188 units permitted in Windham County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $947 of equity ($221 loan paydown + $726 appreciation (2.3% local appreciation)).
• Windham County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.3% appreciation + 3.0% rent growth), your $9k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 274 days — a 12% lower offer ($28k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 58% of rent.

Recommended offer $28,160 (12.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 274 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 3.22% ✓
• Cap rate: 6.23%
• Cash-on-cash: -0.24%
• DSCR: 0.99
• GRM: 2.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

2.27% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 5.9%
• Equity multiple: 1.32×
• Total profit: $2,899
• Equity at exit: $13,089

10-year hold

• IRR: 9.8%
• Equity multiple: 2.40×
• Total profit: $12,577
• Equity at exit: $19,214

Cash invested: $8,960 (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 05356

• Home prices YoY: 1.2%
• Active inventory: 101
• Price-to-rent: 2.6×

Monthly cashflow live

• Estimated rent: $1,031 medium
• Mortgage (P&I): −$168
• Tax est. 1.5%: −$40 /mo · $480/yr
• Insurance: −$13
• HOA: −$595
• Vacancy / Maint / Mgmt: −$216
• Net cashflow: $-2

Break-even live

Break-even rent $1,033

Max offer price $31,739

Occupancy floor 95%

Sensitivity live

Price	-10% $20	-5% $9	+0% $-2	+5% $-13	+10% $-24
Rent	-10% $-83	-5% $-43	+0% $-2	+5% $39	+10% $80
Rate	-1.0pp $14	-0.5pp $6	base $-2	+0.5pp $-10	+1.0pp $-19

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: $8,000
• Closing costs: $960
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $595 · $7,140/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-06-21
   days on market $32,000 Active 274 DOM
2. 2026-06-18
   days on market $32,000 Active 271 DOM
3. 2026-06-17
   days on market $32,000 Active 270 DOM
4. 2026-06-16
   days on market $32,000 Active 269 DOM
5. 2026-06-15
   days on market $32,000 Active 268 DOM
6. 2026-06-14
   days on market $32,000 Active 266 DOM
7. 2026-06-10
   days on market $32,000 Active 263 DOM
8. 2026-06-09
   days on market $32,000 Active 262 DOM
9. 2026-06-08
   days on market $32,000 Active 261 DOM
10. 2026-06-07
    days on market $32,000 Active 260 DOM
11. 2026-06-05
    days on market $32,000 Active 257 DOM
12. 2026-06-03
    days on market $32,000 Active 256 DOM
13. 2026-06-02
    days on market $32,000 Active 255 DOM
14. 2026-06-01
    days on market $32,000 Active 254 DOM
15. 2026-05-31
    days on market $32,000 Active 253 DOM
16. 2026-05-31
    days on market $32,000 Active 252 DOM
17. 2025-09-20
    listed $32,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌡 Heat 1/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,370
• − Mortgage interest: −$1,792
• − Property taxes: −$480
• − Insurance: −$160
• − Repairs & maintenance: −$990
• − Management: −$990
• − HOA: −$7,140
• − Depreciation: −$931
• Taxable loss: −$113
• Est. tax savings @ 24.0%: +$27
• After-tax cash flow: $5/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 — Dover

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 581

Population outlook (Windham County) Hauer SSP2

• Today (2025): 40,432 people
• By 2030: 38,472 · -4.8%
• By 2040: 33,954 · -16.0%
• By 2050: 29,774 · -26.4%
• By 2075: 22,351 · -44.7%
• By 2100: 15,961 · -60.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 7% Black 2% Hispanic / Latino 2%
• Common ancestry: Romanian 10% Scotch-Irish 6% Scandinavian 5%
• Foreign-born: 5%
• Languages at home: 94% English-only · Other Indo-European 3% Russian/Polish/Slavic 3%

Political lean MEDSL · Windham

• 2024 margin: Solid D (+42.7) · D 69.6% · R 26.9% · Other 3.5%
• 2008→2024 swing: -5.4pp toward R · 2008: 48.1pp · 2024: 42.7pp
• All cycles: 2024: D+42.7 2020: D+47.3 2016: D+42.0 2012: D+49.2 2008: D+48.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.27%
• Current HPI: 183.2077
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2025-09-20 Listed $32,000 PrimeMLS