223 Hildred Dr

Burlington, VT 05401

$205,000D-

1 bd · 1.0 ba · 688 sqft · Built 1992 · Townhouse · Active · 142 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,913/mo
• Mortgage (P&I): −$1,075
• Tax + insurance: −$342
• HOA: −$461
• Vac / Maint / Mgmt: −$402
• Net cashflow: $-367/mo
• Annual: $-4,399/yr
• Cap rate: 4.15%
• Cash-on-cash: -7.66%
• DSCR: 0.66
• 1% rule: 0.93%
• Cash to close: $57,400

Investor read

• This is a 1-bed/1.0-bath townhouse listed at $205k. Condition is rated fair.
• At list price, monthly cash flow is $-367 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $152k (25.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $191k (6.7% below list).
• It's been on market 142 days — a 12% lower offer ($180k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $152k (25.9% below list) — sets the bar for cash-flow.
• 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 74/100 on livability (#19 in VT, #4,619 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, health & safety A+, employment B; Watch: cost of living D, crime F, amenities F.
• Zoned schools: Integrated Arts Academy At H. O. Wheeler (math 37% / reading 52%, grade F, #72 of 192 statewide, top 42%, 248 students, 58% FRL); Lyman C. Hunt Middle School (math 34% / reading 47%, grade F, #13 of 26 statewide, top 52%, 337 students, 49% FRL); Burlington High School (math 42% / reading 57%, grade D, #8 of 48 statewide, top 15%, 987 students, 48% FRL).
• Watch-outs: HOA is 24% of rent.
• Market conditions: Rents flat; 216 active listings in the ZIP; 27 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); 898 units permitted in Chittenden County in 2024 (554 in 5+ unit buildings).
• Chittenden County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 2 sale attempts since 27y ago; this cycle's ask has dropped $14k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $63k; list at $205k implies a 226% gain — meaningful room to come down on a strong offer.
• Cap rate 4.1% vs local median 3.4% in Burlington — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.
• This rent runs 35% of the median local income ($66k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 142 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?

Repairs flagged (vision-AI assessment)

• Minor: kitchen cabinets — Light wear
• Minor: bathroom fixtures — Standard fixtures
• Minor: exterior siding — Some wear