204/206 Qtr 2 Grand Summit Way Unit 204/206 Qtr 2 · Dover, VT 05356

$28,500

1 bd · 2.0 ba · 771 sqft · Condo · 205 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 +17.6/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +6.1/10.0
• DSCR +5.5/10.0
• Schools +5.0/10.0
• 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 valley-side lockout unit, comfortably sleeps 8. Unit 204 is a hotel room with 2 king-size beds, a full bath, & a deck. The adjoining unit, 206, 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 perfect for the flexibility of using one side and renting the other. Grand Summit Hotel ownership provide

Key facts

• Full-service gym
• Premium amenities
• Deeded quartershare

Tags

• DEEDED QUARTERSHARE
• VALLEY-SIDE LOCKOUT UNIT
• SKI-IN SKI-OUT CONVENIENCE
• PREMIUM AMENITIES
• OWNER'S PRIVATE LOUNGE
• FULL-SERVICE GYM

Property features AI

Finance

• Other: Located at Grand Summit Hotel; directions: Route 100 in West Dover to main entrance of Mount Snow, follow signs to Grand Summit Hotel
• Financial info: Timeshare/fractional ownership applies (25% share)
• HOA & community: Condo association with quarterly fees; Quarterly condo fee of 1,785.78; Condo fee includes cable, association fee, cooling, electric, heat, hot water, internet, landscaping, plowing, trash, and water; Association amenities include building maintenance, common acreage, coin laundry, exercise facility, hot tub, landscaping, locker rooms, master insurance, heated in-ground pool, sauna, snow removal, and trash removal

Exterior

• Parking: Shared/common parking (paved)
• Security: Master insurance provided by association
• Utilities: Public water and drilled well listed; Community sewer; 200 amp electrical service; High-speed internet on site; Other utilities available
• Home design: Hotel-style condominium (Grand Summit Hotel); Existing construction; Unit 204/206 (quarter 2)
• Construction: Built in 1998; Clapboard and other exterior materials; Asphalt shingle roof; Surveyed
• Exterior features: Ski area and ski trailside location; Views; Adjoins state/national forest; Near golf course; Near skiing; Common/shared paved driveway; Part of 8 acres of common land; Red exterior

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Electric stove
• Bedrooms: Not specified
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Propane heating; Wall heating units; Wall AC units
• Interior features: 2 total rooms; Carpet and tile flooring
• Laundry & utility: Coin laundry available in building

What this means for you Summary

Snapshot

• This is a 1-bed/2.0-bath condo listed at $28k.

Deal economics

• At list price, monthly cash flow is $22 ($269/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $28k).
• Recommended offer: $25k (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 $843 of equity ($197 loan paydown + $646 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 $8k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 205 days — a 12% lower offer ($25k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 58% of rent.

Recommended offer $25,080 (12.0% below list)

Questions for the listing agent

1. It's been on market 205 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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.
7. 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.
8. 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: 3.62% ✓
• Cap rate: 7.24%
• Cash-on-cash: 3.37%
• DSCR: 1.15
• GRM: 2.3

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: 9.4%
• Equity multiple: 1.52×
• Total profit: $4,152
• Equity at exit: $11,657

10-year hold

• IRR: 13.0%
• Equity multiple: 2.84×
• Total profit: $14,705
• Equity at exit: $17,112

Cash invested: $7,980 (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: 2.3×

Monthly cashflow live

• Estimated rent: $1,031 medium
• Mortgage (P&I): −$149
• Tax est. 1.5%: −$36 /mo · $428/yr
• Insurance: −$12
• HOA: −$595
• Vacancy / Maint / Mgmt: −$216
• Net cashflow: $22

Break-even live

Break-even rent $1,002

Max offer price $28,500

Occupancy floor 93%

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: $7,125
• Closing costs: $855
• 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 16 events

1. 2026-06-18
   days on market $28,500 Active 205 DOM
2. 2026-06-17
   days on market $28,500 Active 204 DOM
3. 2026-06-16
   days on market $28,500 Active 203 DOM
4. 2026-06-15
   days on market $28,500 Active 202 DOM
5. 2026-06-14
   days on market $28,500 Active 200 DOM
6. 2026-06-10
   days on market $28,500 Active 197 DOM
7. 2026-06-09
   days on market $28,500 Active 196 DOM
8. 2026-06-08
   days on market $28,500 Active 195 DOM
9. 2026-06-07
   days on market $28,500 Active 194 DOM
10. 2026-06-05
    days on market $28,500 Active 191 DOM
11. 2026-06-03
    days on market $28,500 Active 190 DOM
12. 2026-06-02
    days on market $28,500 Active 189 DOM
13. 2026-06-01
    days on market $28,500 Active 188 DOM
14. 2026-05-31
    days on market $28,500 Active 187 DOM
15. 2026-05-31
    days on market $28,500 Active 186 DOM
16. 2025-11-26
    listed $28,500 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: −$1,596
• − Property taxes: −$428
• − Insurance: −$142
• − Repairs & maintenance: −$990
• − Management: −$990
• − HOA: −$7,140
• − Depreciation: −$829
• Taxable income: $255
• Est. tax owed @ 24.0%: −$61
• After-tax cash flow: $207/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

• 2025-11-26 Listed $28,500 PrimeMLS