113 Rita Way · Milton, VT 05468

$97,900

3 bd · 2.5 ba · 1,064 sqft · Manufactured public records · 2 Days on market

Built 1998 Est $76k · 30% over

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +5.0/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Great opportunity to own your own 3-bedroom, 2-bath mobile home. Very well maintained with many new updated including new flooring, new fuel tank, new furnace and more. This home has 3 shed grandfathered into the property for additional storage. Central location with quick access to the Town of Milton and interstate I-89.

Key facts

• New furnace
• New fuel tank
• New flooring

Tags

• NEW FLOORING
• NEW FUEL TANK
• NEW FURNACE
• 3 SHED GRANDFATHERED
• CENTRAL LOCATION
• QUICK ACCESS TO TOWN OF MILTON

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath manufactured listed at $98k.

Deal economics

• At list price, monthly cash flow is $901 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $98k).
• Cap rate 17.3% vs local median 2.1% in Milton — 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.

Location & tenants

• Location reads 61/100 on livability (#88 in VT) — a middle-class / working-renter tenant base. Strengths: crime A, housing A-; Watch: employment C-, amenities F, commute F.
• Zoned schools: Milton Elementary School (math 20% / reading 32%, grade F, #160 of 192 statewide, top 84%, 631 students, 29% FRL); Milton Middle School (math 17% / reading 40%, grade F, #20 of 26 statewide, top 76%, 389 students, 28% FRL); Milton Senior High School (math 22% / reading 52%, grade F, #25 of 48 statewide, top 53%, 439 students, 20% FRL).
• Market conditions: 115 active listings in the ZIP; 898 units permitted in Chittenden County in 2024 (554 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $677 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Chittenden County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $27k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 4y 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.
• Current owner paid $42k; list at $98k implies a 133% gain — meaningful room to come down on a strong offer.

Recommended offer $97,900

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
3. 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.
4. 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.
5. 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.

Investment metrics

• 1% rule: 1.96% ✓
• Cap rate: 17.34%
• Cash-on-cash: 39.44%
• DSCR: 2.75
• GRM: 4.2

CMA / ARV

• ARV (on-the-fly): $75,544
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
113 Rita Way	0.00mi	3/2.0	1,064 (0%)	1mo	$90,000	$85	97
174 Rita Way	0.15mi	3/2.0	1,120 (+5%)	13mo	$80,000	$71	71
52 Rita Way	0.06mi	3/1.5	924 (-13%)	7mo	$58,000	$63	65
79 Rita Way	0.02mi	2/2.0 (-1)	924 (-13%)	7mo	$140,000	$152	64
63 Kapica Ln	0.08mi	2/2.0 (-1)	924 (-13%)	4mo	$77,000	$83	64
49 Kapica Ln	0.04mi	2/1.0 (-1)	924 (-13%)	8mo	$60,000	$65	58
43 Pecor Ave	0.14mi	2/1.0 (-1)	924 (-13%)	11mo	$48,000	$52	52
34 Pecor Ave	0.13mi	3/1.0	924 (-13%)	19mo	$40,000	$43	50
54 Pecor Ave	0.11mi	2/1.0 (-1)	924 (-13%)	18mo	$124,900	$135	47

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 35.7%
• Equity multiple: 2.51×
• Total profit: $41,514
• Equity at exit: $14,597

10-year hold

• IRR: 42.4%
• Equity multiple: 5.01×
• Total profit: $110,013
• Equity at exit: $8,465

Cash invested: $27,412 (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 05468

• Home prices YoY: -30.4%
• Active inventory: 115
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $1,922 medium
• Mortgage (P&I): −$513
• Tax from tax record: −$63 /mo · $761/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$404
• Net cashflow: $901

Break-even live

Break-even rent $782

Max offer price $97,900

Occupancy floor 48%

Sensitivity live

Price	-10% $956	-5% $929	+0% $901	+5% $873	+10% $846
Rent	-10% $749	-5% $825	+0% $901	+5% $977	+10% $1,053
Rate	-1.0pp $950	-0.5pp $926	base $901	+0.5pp $876	+1.0pp $850

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: $24,475
• Closing costs: $2,937
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-04-16
   status Pending
2. 2026-04-13
   listed $97,900 Active
3. 2022-02-03
   soldstatus $42,000
4. 2022-01-31
   soldstatus $42,000
5. 2022-01-31
   listed $42,000

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

Tax reassessment forecast VT · Partial reset (capped growth)

• Current annual tax: $761 · $63/mo
• Projected year-2 tax: $1,311 · $109/mo
• Expected delta: +$550/yr (+$46/mo · 72.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥91°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,067
• − Mortgage interest: −$5,484
• − Property taxes: −$761
• − Insurance: −$490
• − Repairs & maintenance: −$1,845
• − Management: −$1,845
• − Depreciation: −$2,848
• Taxable income: $9,794
• Est. tax owed @ 24.0%: −$2,351
• After-tax cash flow: $8,461/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 — Milton

• Score: 61/100
• State rank: #88
• US rank: #18271

Category grades

Amenities F Commute F Cost of living C Crime A Employment C- Housing A- Health & safety D- User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Milton, VT
• Population (ZIP): 13,347

Population outlook (Chittenden County) Hauer SSP2

• Today (2025): 170,769 people
• By 2030: 174,716 · +2.3%
• By 2040: 180,337 · +5.6%
• By 2050: 183,768 · +7.6%
• By 2075: 194,646 · +14.0%
• By 2100: 194,933 · +14.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 4% Black 2% Hispanic / Latino 2%
• Common ancestry: Lithuanian 14% Slovak 3% Romanian 3%
• Foreign-born: 3% · Canada
• Languages at home: 97% English-only · Russian/Polish/Slavic 1% Spanish 1% French/Haitian/Cajun 1%

Political lean MEDSL · Chittenden

• 2024 margin: Solid D (+53.6) · D 75.4% · R 21.7% · Other 2.9%
• 2008→2024 swing: +8.9pp toward D · 2008: 44.8pp · 2024: 53.6pp
• All cycles: 2024: D+53.6 2020: D+54.5 2016: D+46.8 2012: D+41.9 2008: D+44.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -127.34%
• Current HPI: 291.4868
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+133.1% since first listed

5 events — show timeline

• 2026-04-16 Pending — PrimeMLS
• 2026-04-13 Listed $97,900 PrimeMLS
• 2022-02-03 Sold (Public Records) $42,000 Public Records
• 2022-01-31 Listed $42,000 PrimeMLS
• 2022-01-31 Sold (MLS) $42,000 PrimeMLS

Property tax history

-1.4%/yr

Latest (2024): $761 · +11.3% YoY. Source: county tax records.