Summary
- Vermont’s All-Season Destination – Discover why Vermont is a top choice for second-home buyers.
- Dover’s Rental Potential – Learn about Dover’s property investment advantages.
- Outdoor Activities – Explore the diverse recreational opportunities in Dover.
- A prime location for city dwellers – Understand its accessibility to major cities.
Vermont is a popular second-home destination because it has plenty to offer travelers during all four seasons. From spectacular fall foliage views and top-notch winter resorts to its natural wineries, trails, and lakes, The Green Mountain State is always bustling with activity no matter the month. However, if you’re looking to make additional rental income from your vacation home, consider investing in real estate in Dover.
The small town, nestled in southern Vermont, was ranked as one of the best places to buy a second home in 2024 by rental and management company Evolve.
Based on its analysis of median home listing prices and yearly expenses in popular vacation destinations across the country, the company found that owners in Dover can make, on average, $34,000 in rental revenue. Furthermore, Evolve noted that the cap rate for properties in the area has increased from 3.9 percent to 6.7 percent in just a year. Moreover, if your vacation home happens to be larger, this news is even more promising.
“Top owners at Evolve have earned up to $84,022 annually due to an increased demand that’s driving higher occupancy, daily rates, and revenue — while the median listing price for homes has come down. Properties that outperform in this area typically host larger groups and are close to popular ski resort Mount Snow,” Greg Davis, SVP of owner growth at Evolve, stated.
Sitting in Deerfield Valley in the majestic Green Mountains, Dover is the perfect base to explore the region’s natural beauty and outdoor recreational activities. In the summer, travelers flock south to Harriman’s Reservoir, the state’s second-largest lake, which provides ample water sports opportunities, including swimming and fishing. In addition, north of Dover lies Somerset Reservoir, ideal for those seeking a quieter setting for boating and kayaking. Lake Raponda, just 10 miles southeast of Dover, boasts 116 scenic acres and is a favorite of generations of Vermonters.
A lush emerald blanket covers the area in the spring and summer, serving as a stunning backdrop for the many hikers roaming the valley.
In fact, the Dover region was known as a summer getaway for years before the mid-1950s, when Mount Snow opened. As one of the Northeast’s best winter resorts, it now offers over 135 trails and several additional facilities such as jumps, rails, and boxes for snowboarders. Even if you don’t ski, you’ll appreciate the views from the Bluebird Express chairlift, which takes you to the summit of Mount Snow — and it’s open in the summer months, too.
“Dover offers the best of both worlds with activities for the ski fanatic and water lover alike,” Shawna Gutowski, an agent at William Raveis Real Estate/Luxury Portfolio International, mentioned. Currently, the median home value in Dover is $457,000, according to Zillow, but Gutowski explained that there is a wide range of price points available. “Condominiums are always popular as they eliminate the need for exterior maintenance, but of course, a home with lake or mountain views is always in demand,” she added.
Another reason to consider owning a second home in this area is that Dover serves as the ultimate weekend getaway for urbanites: Boston is 135 miles away, Albany, New York is just 88 miles away, and New York City is 216 miles to the south.
