6982 Main St

Readsboro, VT 05350

$210,000D

7 bd · 5.0 ba · 3,825 sqft · Built 1830 · Condo · Active · 300 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,692/mo
• Mortgage (P&I): −$1,101
• Tax + insurance: −$307
• HOA: −$0
• Vac / Maint / Mgmt: −$355
• Net cashflow: $-72/mo
• Annual: $-864/yr
• Cap rate: 5.88%
• Cash-on-cash: -1.47%
• DSCR: 0.93
• 1% rule: 0.81%
• Cash to close: $58,800

Investor read

• This is a 7-bed/5.0-bath condo listed at $210k.
• At list price, monthly cash flow is $-72 ($-864/yr) — negative.
• To cash-flow at today's rent, offer at most $197k (6.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $169k (19.4% below list).
• It's been on market 300 days — a 12% lower offer ($185k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $169k (19.4% below list) — sets the bar for 1% rule.
• In year one you build about $6k of equity ($1k loan paydown + $4k appreciation (2.1% local appreciation)).
• Location reads 65/100 on livability (#58 in VT) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B+; Watch: health & safety D, amenities F, commute F.
• Zoned schools: Readsboro Elementary School (39 students, 33% FRL).
• Watch-outs: built in 1830 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 20 active listings in the ZIP; 59 units permitted in Bennington County in 2024 (0 in 5+ unit buildings).
• Bennington County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 11y ago; this cycle's ask has dropped $40k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $45k; list at $210k implies a 367% gain — meaningful room to come down on a strong offer.
• At projected returns (2.1% appreciation + 3.0% rent growth), your $59k cash investment doubles in ~9 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• 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?
• It's been on market 300 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
• Built in 1830 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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?