737 Curdy's Cove Loop #1

Hamilton, MT 59840

$144,900B-

3 bd · 2.0 ba · 1,314 sqft · Built 1983 · SingleFamily · Pending · 111 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,016/mo
• Mortgage (P&I): −$760
• Tax + insurance: −$242
• HOA: −$0
• Vac / Maint / Mgmt: −$423
• Net cashflow: $592/mo
• Annual: $7,099/yr
• Cap rate: 11.19%
• Cash-on-cash: 17.50%
• DSCR: 1.78
• 1% rule: 1.39%
• Cash to close: $40,572

Investor read

• This is a 3-bed/2.0-bath single-family listed at $145k.
• At list price, monthly cash flow is $592 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• It's been on market 111 days — a 9% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $132k (9.0% 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 $4k of value loss. Plan a longer hold.
• Location reads 73/100 on livability (#45 in MT) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+; Watch: schools D+, crime D+, amenities D+.
• Hamilton K-12 Schools (town): math 32% / reading 42% proficiency, ranked #74 of 116 in MT (top 64%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 196 active listings in the ZIP; 27 units permitted in Ravalli County in 2024 (0 in 5+ unit buildings).
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $41k cash investment doubles in ~7 years — after that, you're playing with house money.
• Climate carrying-cost: severe wildfire risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 11.2% vs local median 2.2% in Hamilton — 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.
• This rent runs 39% of the median local income ($62k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 111 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• 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 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?
• Crime grade is D 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?
• 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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.