8 Freedom Dr · Montpelier, VT 05602

$285,000

2 bd · 1.0 ba · 1,008 sqft · Condo · 28 Days on market

Built 1983 Good condition $275/mo HOA · 10% of rent

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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 +12.7/30.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• 1% rule +4.8/10.0
• Livability +4.2/5.0
• DSCR +3.8/10.0
• Condition / age +3.8/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Lovely second-floor unit with meadow views from living room, dining room, and private balcony, while both bedrooms have distant views of Camel's Hump and the Worcester Range. Sunny location with the association in-ground pool nearby. Inside is spacious with a renovated kitchen which has expanded the open feel, and original cabinets which have been painted a calming light grey. The washer and dryer are in their own closet and there is a linen closet as well as an outside storage closet on the balcony. Both bedrooms have good-sized closets. Imagine condo living watching the wildlife in the meadow and enjoying mountain views. Close to everything the vibrant capital city of Montpelier has to of

Key facts

• In-ground pool
• Private balcony
• Renovated kitchen

Tags

• PRIVATE BALCONY
• IN-GROUND POOL
• RENOVATED KITCHEN
• OUTSIDE STORAGE CLOSET
• MOUNTAIN VIEWS

Property features AI

Finance

• Other: Directions: From Northfield Street coming from Montpelier, take left onto Independence Green, then right at the stop sign onto Freedom Drive. Unit 8 is the first set of condos on the left with parking next to the swimming pool.
• HOA & community: Condo fees apply: $275 monthly; HOA covers landscaping and plowing; Association amenities include common acreage, landscaping, in-ground pool, and snow removal

Exterior

• Parking: 1-car garage
• Utilities: Public sewer; Public water; Circuit breaker electrical; Cable internet available; Cable service; Telephone available
• Home design: Garden-style unit; Existing construction; Blue exterior; Shingle - asphalt roof; Built in 1983
• Construction: Brick exterior; Hardwood exterior
• Exterior features: Condo development; Mountain view; Open lot; Near shopping; Near skiing; Neighborhood setting; Near public transportation; Near hospital; Near schools; Paved driveway

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator
• Flooring: Carpet; Laminate; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Baseboard heat; Electric heat
• Interior features: 4 total rooms
• Laundry & utility: Washer; Dryer; Tank water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $285k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-33 ($-391/yr) — negative.
• To cash-flow at today's rent, offer at most $280k (1.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $280k (1.8% below list).
• Recommended offer: $280k (1.8% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 2.5% in Montpelier — 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 84/100 on livability (#3 in VT, #670 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, housing A+, health & safety A+; Watch: crime C-.
• Zoned schools: Union Elementary School (math 52% / reading 57%, grade C, #31 of 192 statewide, top 21%, 448 students, 13% FRL); Main Street Middle School (math 41% / reading 63%, grade C+, #4 of 26 statewide, top 20%, 327 students, 26% FRL); Montpelier High School (math 37% / reading 82%, grade C+, #4 of 48 statewide, top 6%, 403 students, 23% FRL).
• Market conditions: 65 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 185 units permitted in Washington County in 2024 (30 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Washington County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($281k) is reasonable based on typical stale-listing flexibility.

Recommended offer $280,000 (1.8% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are A-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?
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 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.

Investment metrics

• 1% rule: 0.98% ✗
• Cap rate: 6.16%
• Cash-on-cash: -0.49%
• DSCR: 0.98
• GRM: 8.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -17.0%
• Equity multiple: 0.40×
• Total profit: $-48,045
• Equity at exit: $42,494

10-year hold

• IRR: -8.8%
• Equity multiple: 0.45×
• Total profit: $-43,650
• Equity at exit: $24,642

Cash invested: $79,800 (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 05602

• Active inventory: 65
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $2,800 medium
• Mortgage (P&I): −$1,495
• Tax est. 1.5%: −$356 /mo · $4,275/yr
• Insurance: −$119
• HOA: −$275
• Vacancy / Maint / Mgmt: −$588
• Net cashflow: $-33

Break-even live

Break-even rent $2,841

Max offer price $280,287

Occupancy floor 96%

Sensitivity live

Price	-10% $164	-5% $66	+0% $-33	+5% $-131	+10% $-230
Rent	-10% $-254	-5% $-143	+0% $-33	+5% $78	+10% $189
Rate	-1.0pp $111	-0.5pp $40	base $-33	+0.5pp $-106	+1.0pp $-182

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: $71,250
• Closing costs: $8,550
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
205 Forest Dr #3 Montpelier, VT	2.0	1.0	972	$2,800	$2.88	45d	1	1.36mi

HOA detail condo

• Monthly dues: $275 · $3,300/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 2 events

1. 2026-05-01
   status Pending
2. 2026-04-03
   listed $285,000 Active

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

Taxation est. · year 1

• Rental income: $33,600
• − Mortgage interest: −$15,964
• − Property taxes: −$4,275
• − Insurance: −$1,425
• − Repairs & maintenance: −$2,688
• − Management: −$2,688
• − HOA: −$3,300
• − Depreciation: −$8,291
• Taxable loss: −$5,031
• Est. tax savings @ 24.0%: +$1,208
• After-tax cash flow: $817/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 · 1 photo

Good 75/100 Cosmetic rehab

This second-floor condo is in good condition with a renovated kitchen and good curb appeal. Minor exterior painting and landscaping improvements would significantly enhance its value.

Value-add opportunities

• Both Painting exterior — Enhances curb appeal and resale value
• Both Landscaping improvements — Enhances curb appeal and resale value

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior — Enhances curb appeal and resale value ↑
• Both Landscaping improvements — Enhances curb appeal and resale value ↑

ⓘ 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 — Montpelier

• Score: 84/100
• State rank: #3
• US rank: #670

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Montpelier, VT
• Population (ZIP): 12,491

Population outlook (Washington County) Hauer SSP2

• Today (2025): 56,608 people
• By 2030: 54,731 · -3.3%
• By 2040: 50,227 · -11.3%
• By 2050: 45,893 · -18.9%
• By 2075: 36,818 · -35.0%
• By 2100: 28,143 · -50.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 6% Hispanic / Latino 3% Asian 1% Black 1%
• Common ancestry: Lithuanian 6% Slovak 4% Romanian 3%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · French/Haitian/Cajun 2% Spanish 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Washington

• 2024 margin: Solid D (+43.4) · D 70.0% · R 26.6% · Other 3.4%
• 2008→2024 swing: +2.4pp toward D · 2008: 41.0pp · 2024: 43.4pp
• All cycles: 2024: D+43.4 2020: D+46.1 2016: D+37.0 2012: D+42.2 2008: D+41.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -195.34%
• Current HPI: 344.3382
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

2 events — show timeline

• 2026-05-01 Pending — PrimeMLS
• 2026-04-03 Listed $285,000 PrimeMLS