1891 Hanna Rd · Highgate, VT 05459

$219,000

6 bd · 1.0 ba · 2,451 sqft · Other · 40 Days on market

Built 1880 Poor condition

---

Why this score? — see what drove the D 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 +10.8/30.0
• ARV discount +7.5/15.0
• Appreciation +7.2/10.0
• Schools +5.0/10.0
• 1% rule +3.2/10.0
• DSCR +3.1/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +1.0/5.0

Listing remarks

Exceptional opportunity to own approximately 8 acres of versatile land, ideal for a hobby farm, recreational use, or future development. The property features a 300-tap established sugarbush, offering excellent potential for maple syrup production or personal use. Multiple outbuildings are included such as a barn, shed, an additional storage structures, providing ample space for equipment, livestock, or workshop needs. A perked septic design is already in place, simplifying the process for future construction is desired. Property is conveniently located on a main road with easy access to everyday amenities. Just 15 minutes to the interstate and 15 minutes to the Canadian border, this proper

Key facts

• Perk septic design
• Main road access
• 8 acres of land

Tags

• 8 ACRES OF LAND
• 300 TAP SUGARBUSH
• MULTIPLE OUTBUILDINGS
• PERK SEPTIC DESIGN
• MAIN ROAD ACCESS
• 15 MINUTES TO INTERSTATE

Property features AI

Exterior

• Home design: Single property built in 1880
• Construction: Built in 1880
• Exterior features: Located in the Highgate Center subdivision

What this means for you Summary

Snapshot

• This is a 6-bed/1.0-bath other listed at $219k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $-101 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $204k (6.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $179k (18.4% below list).
• Recommended offer: $179k (18.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Zoned schools: Missisquoi Valley Union High School (math 20% / reading 38%, grade F, #39 of 48 statewide, top 81%, 736 students, 37% FRL).
• Market conditions: 26 active listings in the ZIP; 200 units permitted in Franklin County in 2024 (25 in 5+ unit buildings).

Forward outlook

• In year one you build about $11k of equity ($2k loan paydown + $10k appreciation (4.5% local appreciation)).
• Franklin County population projected to shrink 3% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• By year 4, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($212k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $178,811 (18.4% 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 40 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. Built in 1880 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 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: 0.82% ✗
• Cap rate: 5.74%
• Cash-on-cash: -1.97%
• DSCR: 0.91
• GRM: 10.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

4.46% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 9.8%
• Equity multiple: 1.61×
• Total profit: $37,366
• Equity at exit: $116,962

10-year hold

• IRR: 11.5%
• Equity multiple: 2.99×
• Total profit: $121,985
• Equity at exit: $196,188

Cash invested: $61,320 (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 05459

• Home prices YoY: 1.2%
• Active inventory: 26
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $1,788 medium
• Mortgage (P&I): −$1,148
• Tax est. 1.5%: −$274 /mo · $3,285/yr
• Insurance: −$91
• HOA: −$0
• Vacancy / Maint / Mgmt: −$376
• Net cashflow: $-101

Break-even live

Break-even rent $1,916

Max offer price $204,406

Occupancy floor —

Sensitivity live

Price	-10% $50	-5% $-25	+0% $-101	+5% $-177	+10% $-252
Rent	-10% $-242	-5% $-171	+0% $-101	+5% $-30	+10% $40
Rate	-1.0pp $9	-0.5pp $-45	base $-101	+0.5pp $-158	+1.0pp $-215

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: $54,750
• Closing costs: $6,570
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-21
   days on market $219,000 Active 40 DOM
2. 2026-06-21
   days on market $219,000 Active 39 DOM
3. 2026-06-18
   days on market $219,000 Active 37 DOM
4. 2026-06-17
   days on market $219,000 Active 36 DOM
5. 2026-06-16
   days on market $219,000 Active 35 DOM
6. 2026-06-15
   days on market $219,000 Active 34 DOM
7. 2026-06-15
   days on market $219,000 Active 33 DOM
8. 2026-06-13
   days on market $219,000 Active 32 DOM
9. 2026-06-12
   days on market $219,000 Active 31 DOM
10. 2026-06-09
    days on market $219,000 Active 28 DOM
11. 2026-06-08
    days on market $219,000 Active 27 DOM
12. 2026-06-08
    days on market $219,000 Active 26 DOM
13. 2026-06-07
    days on market $219,000 Active 25 DOM
14. 2026-06-03
    days on market $219,000 Active 22 DOM
15. 2026-06-02
    days on market $219,000 Active 21 DOM
16. 2026-06-01
    days on market $219,000 Active 20 DOM
17. 2026-05-31
    days on market $219,000 Active 19 DOM
18. 2026-05-12
    listed $219,000 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

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 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 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,457
• − Mortgage interest: −$12,267
• − Property taxes: −$3,285
• − Insurance: −$1,095
• − Repairs & maintenance: −$1,717
• − Management: −$1,717
• − Depreciation: −$6,371
• Taxable loss: −$4,994
• Est. tax savings @ 24.0%: +$1,199
• After-tax cash flow: $-12/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.

Condition & rehab AI · 2 photos

Poor 20/100 Extensive rehab

This property requires extensive repairs and improvements to its roof, exterior, HVAC, and landscaping to become move-in ready and increase its value.

Repairs flagged

• Major roof — Significant damage to the roof as seen in the satellite image.
• Major exterior siding — Severe damage and discoloration to the exterior siding.
• Major HVAC/mechanicals — No interior photos to assess the condition of HVAC or mechanical systems.
• Major landscaping — No landscaping or curb appeal improvements visible in the photos.

Value-add opportunities

• Both landscaping and curb appeal improvements — Enhances the property's visual appeal and can increase both resale and rental value.
• Both HVAC and mechanical system upgrades — Improves comfort and energy efficiency, attracting more buyers and renters.
• Both roof repair and siding replacement — Fixes major structural issues and improves the property's overall appearance and safety.

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · Significant damage to the roof as seen in the satellite image.	Major	$15,000–50,000
exterior siding · Severe damage and discoloration to the exterior siding.	Major	$15,000–50,000
HVAC/mechanicals · No interior photos to assess the condition of HVAC or mechanical systems.	Major	$15,000–50,000
landscaping · No landscaping or curb appeal improvements visible in the photos.	Major	$15,000–50,000
Total estimated repair cost · 4 items		$60,000–200,000

Value-add ROI direction

• Both landscaping and curb appeal improvements — Enhances the property's visual appeal and can increase both resale and rental value. ↑
• Both HVAC and mechanical system upgrades — Improves comfort and energy efficiency, attracting more buyers and renters. ↑
• Both roof repair and siding replacement — Fixes major structural issues and improves the property's overall appearance and safety. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

No district data.

Livability — Highgate

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

Census & demographics

• Population (ZIP): 2,003

Population outlook (Franklin County) Hauer SSP2

• Today (2025): 50,374 people
• By 2030: 50,718 · +0.7%
• By 2040: 50,557 · +0.4%
• By 2050: 48,832 · -3.1%
• By 2075: 43,526 · -13.6%
• By 2100: 33,970 · -32.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Two or more races 18% Hispanic / Latino 3%
• Common ancestry: Lithuanian 16% Slovak 7% Italian 5%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · French/Haitian/Cajun 3%

Political lean MEDSL · Franklin

• 2024 margin: Toss-up / Even · D 50.0% · R 47.0% · Other 3.0%
• 2008→2024 swing: -21.8pp toward R · 2008: 24.8pp · 2024: 3.0pp
• All cycles: 2024: D+3.0 2020: D+9.0 2016: D+3.1 2012: D+23.6 2008: D+24.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.46%
• Current HPI: 359.8367
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-05-12 Listed $219,000 FSBO.com