522 Andrick Ave · Lockwood, MT 59101

$35,000

3 bd · 2.0 ba · 1,226 sqft · Manufactured · 34 Days on market

Built 1993 Poor condition

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +3.5/5.0
• Livability +3.0/5.0
• Schools +2.4/10.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Key facts

• Built 1993
• Listed 33 days

Property features AI

Finance

• Other: Located in Emerald View Mobile Park
• Financial info: Annual tax amount listed

Exterior

• Parking: No designated parking
• Utilities: Public water; Public sewer
• Home design: Manufactured single-family home; Residential zoning for manufactured homes
• Construction: Above-grade finished living area
• Exterior features: No fencing

Interior

• Kitchen: Includes oven, range, and refrigerator
• Bedrooms: 3 bedrooms on the main level
• Bathrooms: 2 full bathrooms (both on the main level)
• Heating & cooling: Central air conditioning; Natural gas forced-air heating
• Interior features: Oven, Range, Refrigerator; No basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $35k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $35k).
• Recommended offer: $34k (3.0% below list) — sets the bar for market timing.
• Cap rate 41.0% vs local median 1.7% in Lockwood — 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 59/100 on livability (#238 in MT) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: health & safety C-, amenities F, commute F.
• Lockwood K-12 (suburban): math 21% / reading 33% proficiency, ranked #86 of 116 in MT (top 74%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Lockwood Primary (374 students, 0% FRL); Lockwood Middle School (math 19% / reading 35%, grade F, #115 of 146 statewide, top 79%, 433 students, 0% FRL); Lockwood High School (546 students, 0% FRL) — zoned schools average 0% FRL vs 35% district-wide (35 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+4.0%/yr); 279 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,401 units permitted in Yellowstone County in 2024 (281 in 5+ unit buildings).
• This rent runs 33% of the median local income ($59k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $242 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Yellowstone County population projected at +26% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 4.0% rent growth), your $10k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($34k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $33,950 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. 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?
6. 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.
7. 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.
8. 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.

Investment metrics

• 1% rule: 4.54% ✓
• Cap rate: 41.03%
• Cash-on-cash: 124.07%
• DSCR: 6.52
• GRM: 1.8

CMA / ARV

• ARV (on-the-fly): $72,334
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2710 Silverton St. St	0.12mi	3/2.0	1,216 (-1%)	0mo	$85,000	$70	93
2718 Silverton St	0.14mi	3/2.0	1,216 (-1%)	3mo	$89,900	$74	90
538 Andrick Avenue Ave	0.05mi	3/2.0	1,216 (-1%)	12mo	$66,000	$54	86
520 Finley Cir	0.06mi	3/1.5	1,152 (-6%)	9mo	$58,000	$50	78
511 Jemstone Dr	0.14mi	3/2.0	1,216 (-1%)	21mo	$72,000	$59	75
521 Finley Circle Cir	0.08mi	2/2.0 (-1)	1,144 (-7%)	23mo	$65,500	$57	61
528 Jemstone Dr	0.11mi	3/2.0	1,120 (-9%)	24mo	$83,900	$75	61
506 Jemstone Dr	0.11mi	2/2.0 (-1)	1,052 (-14%)	20mo	$60,000	$57	50

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.96% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 7.17×
• Total profit: $60,436
• Equity at exit: $5,219

10-year hold

• IRR: —
• Equity multiple: 15.52×
• Total profit: $142,305
• Equity at exit: $3,026

Cash invested: $9,800 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 82 Strongly Landlord-Friendly
• State Montana: 82 Strongly Landlord-Friendly · R+11
• County: — inherits STATE
• City: — inherits STATE

30-day notice; no rent control; preempted; rural-skewed market.

Methodology + full state rankings →

ZIP-level market 59101

• Rents YoY: 4.0%
• Active inventory: 279
• Price-to-rent: 1.8×

Monthly cashflow live

• Estimated rent: $1,589 medium
• Mortgage (P&I): −$184
• Tax est. 1.5%: −$44 /mo · $525/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$334
• Net cashflow: $1,013

Break-even live

Break-even rent $306

Max offer price $35,000

Occupancy floor 31%

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: $8,750
• Closing costs: $1,050
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
133 Hemlock Dr Billings, MT	3.0	2.0	1450	$1,700	$1.17	44d	1	0.62mi
34 Jubilee St Unit 34JU Billings, MT	3.0	2.0	1088	$1,719	$1.58	44d	1	1.43mi
3455 Old Hardin Rd Unit 84 Billings, MT	2.0	1.0	924	$1,200	$1.30	21d	1	1.43mi

Listing history 18 events

1. 2026-06-19
   days on market $35,000 Active 34 DOM
2. 2026-06-18
   days on market $35,000 Active 33 DOM
3. 2026-06-17
   days on market $35,000 Active 32 DOM
4. 2026-06-16
   days on market $35,000 Active 31 DOM
5. 2026-06-15
   days on market $35,000 Active 30 DOM
6. 2026-06-14
   days on market $35,000 Active 28 DOM
7. 2026-06-13
   days on market $35,000 Active 27 DOM
8. 2026-06-10
   days on market $35,000 Active 25 DOM
9. 2026-06-09
   days on market $35,000 Active 24 DOM
10. 2026-06-08
    days on market $35,000 Active 23 DOM
11. 2026-06-07
    days on market $35,000 Active 22 DOM
12. 2026-06-05
    days on market $35,000 Active 19 DOM
13. 2026-06-03
    days on market $35,000 Active 18 DOM
14. 2026-06-02
    days on market $35,000 Active 17 DOM
15. 2026-06-01
    days on market $35,000 Active 16 DOM
16. 2026-05-31
    days on market $35,000 Active 15 DOM
17. 2026-05-30
    days on market $35,000 Active 14 DOM
18. 2026-05-01
    listed $35,000 Active

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 3/10 Moderate 7 d/yr ≥94°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,065
• − Mortgage interest: −$1,961
• − Property taxes: −$525
• − Insurance: −$175
• − Repairs & maintenance: −$1,525
• − Management: −$1,525
• − Depreciation: −$1,018
• Taxable income: $12,336
• Est. tax owed @ 24.0%: −$2,961
• After-tax cash flow: $9,198/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

Poor 20/100 Extensive rehab

This manufactured home requires extensive repairs and maintenance, including new siding and roof, to improve its condition and value.

Repairs flagged

• Major siding — Significant damage and wear
• Major roof — Exposed roof structure and missing shingles
• Major foundation — Overgrown vegetation around the foundation

Value-add opportunities

• Both New siding and roof — Both improve the home's appearance and increase its value
• Both Landscaping — Enhances curb appeal and makes the home more inviting

Renovation cost estimate screening

Repair item	Severity	Est. cost
siding · Significant damage and wear	Major	$15,000–50,000
roof · Exposed roof structure and missing shingles	Major	$15,000–50,000
foundation · Overgrown vegetation around the foundation	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both New siding and roof — Both improve the home's appearance and increase its value ↑
• Both Landscaping — Enhances curb appeal and makes the home more inviting ↑

ⓘ 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)

• District: Lockwood K-12
• NCES district ID: 3000656
• Math proficiency: 21% ▼ -5.00%
• Reading proficiency: 33% ▼ -1.00%
• Median HH income: $53,104
• Composite: 23.97/100
• National rank: #7779
• State rank: #86 of 116 in MT

Livability — Lockwood

• Score: 59/100
• State rank: #238
• US rank: #20350

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lockwood, MT
• County: Yellowstone County · 159,426 people
• Metro: Billings, MT
• Population (ZIP): 42,250
• Household income: $58,598
• Rent vs Own: 43.6% rent · 56.4% own
• Severe rent burden: 1534.0

Population outlook (Yellowstone County) Hauer SSP2

• Today (2025): 176,227 people
• By 2030: 185,619 · +5.3%
• By 2040: 203,543 · +15.5%
• By 2050: 221,100 · +25.5%
• By 2075: 266,931 · +51.5%
• By 2100: 301,141 · +70.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (75%)
• Race & ethnicity: White 75% Hispanic / Latino 9% Native American 9% Two or more races 8% Black 1%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Portuguese 6% Italian 2% Lithuanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 1%

Political lean MEDSL · Yellowstone

• 2024 margin: Strong R (+27.1) · D 34.9% · R 62.0% · Other 3.1%
• 2008→2024 swing: -20.8pp toward R · 2008: -6.3pp · 2024: -27.1pp
• All cycles: 2024: R+27.1 2020: R+24.0 2016: R+27.1 2012: R+20.6 2008: R+6.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -191.74%
• Current HPI: 201.7039
• Rent YoY: ▲ 3.96%
• Metro: Billings, MT
• State GDP YoY: ▲ 3.41%
• F500 in state: 2

Industry mix (Fortune 500 HQ in MT)

Industry	F500 HQs	Revenue
▸Technology / Analytics	1	$2B

Price history

1 event — show timeline

• 2026-05-01 Listed $35,000 BMTMLS