99 Depot St

Wilder, VT 05001

$215,000B-

5 bd · 3.0 ba · — sqft · Built 1902 · MultiFamily · Pending · 25 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,960/mo
• Mortgage (P&I): −$1,127
• Tax + insurance: −$358
• HOA: −$0
• Vac / Maint / Mgmt: −$1,042
• Net cashflow: $2,433/mo
• Annual: $29,191/yr
• Cap rate: 19.87%
• Cash-on-cash: 48.49%
• DSCR: 3.16
• 1% rule: 2.31%
• Cash to close: $60,200

Investor read

• This is a 5-bed/3.0-bath multifamily listed at $215k. Condition is rated poor.
• At list price, monthly cash flow is $2k ($29k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $215k).
• It's been on market 25 days — a 2% lower offer ($212k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $212k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 79/100 on livability (#9 in VT, #2,008 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, commute A+, health & safety A+; Watch: amenities F.
• Zoned schools: Dothan Brook School (math 47% / reading 57%, grade C-, #44 of 192 statewide, top 24%, 246 students, 28% FRL).
• Watch-outs: built in 1902 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 58 active listings in the ZIP; solid renter incomes; 339 units permitted in Windsor County in 2024 (240 in 5+ unit buildings).
• Windsor County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $60k cash investment doubles in ~3 years — after that, you're playing with house money.
• At $4,960/mo this rent would consume 76% of the median local household income ($78k/yr) (locally 227% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1902 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Major: roof — The satellite image shows visible damage and missing shingles.
• Major: exterior siding — The satellite image shows peeling and poor condition.
• Major: interior flooring — The satellite image shows unfinished and poor condition.
• Major: interior walls — The satellite image shows unfinished and poor condition.
• Major: windows — The satellite image shows poor condition.
• Major: foundation — The satellite image shows poor condition.