36 Vista Drive Dr · Billings, MT 59102

$95,000

3 bd · 2.0 ba · 1,152 sqft · Manufactured · 8 Days on market

Built 1995 Fair condition Est $84k · 13% over

---

Why this score? — see what drove the C+ 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +4.0/5.0
• Rent growth +3.8/5.0
• Schools +3.2/10.0
• Condition / age +2.2/5.0
• ARV discount +1.7/15.0
• Appreciation +0.0/10.0

Key facts

• Community pool
• Great location
• Functional layout

Tags

• COMMUNITY POOL
• FUNCTIONAL LAYOUT
• GREAT LOCATION

Property features AI

Finance

• Other: Zoned for residential manufactured homes; Located in the Casa Village subdivision
• Financial info: No financial details provided
• HOA & community: No HOA information provided

Exterior

• Parking: Has garage (1 covered garage space); Has carport
• Security: No security features provided
• Utilities: Public water; Public sewer
• Home design: Residential mobile home; Single-story (one level)
• Construction: Wood siding; Asphalt shingle roof; Built with a crawl/standard foundation (specific foundation type not provided)
• Exterior features: Deck; Shed(s); Interior lot, landscaped

Interior

• Kitchen: Range, Free-Standing Range, Oven, Microwave, Dishwasher, Refrigerator
• Bedrooms: 3 bedrooms on the main level
• Flooring: No flooring details provided
• Bathrooms: 2 full bathrooms, both on the main level
• Heating & cooling: Central air conditioning; Natural gas forced air heating
• Interior features: Range, Dishwasher, Free-Standing Range, Microwave, Oven, Refrigerator; No basement; 7 total rooms
• Laundry & utility: No specific laundry details provided

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $95k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $600 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $95k).
• Cap rate 13.9% vs local median 3.0% in Billings — 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 80/100 on livability (#10 in MT, #1,830 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+; Watch: crime F.
• Billings H S (urban): math 29% / reading 45% proficiency, ranked #69 of 116 in MT (top 60%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Billings West High School (math 34% / reading 52%, grade F, #35 of 132 statewide, top 27%, 2,269 students, 0% FRL).
• Market conditions: Rents rising fast (+5.0%/yr); 197 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,401 units permitted in Yellowstone County in 2024 (281 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $657 of loan paydown is wiped out by about $3k 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 + 5.0% rent growth), your $27k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $95,000

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.67% ✓
• Cap rate: 13.87%
• Cash-on-cash: 27.06%
• DSCR: 2.20
• GRM: 5.0

CMA / ARV

• ARV (on-the-fly): $84,096
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5 Vista Dr	0.27mi	3/2.0	1,216 (+6%)	4mo	$89,000	$73	75
15 Big Sky Country Dr	0.15mi	3/2.0	1,080 (-6%)	11mo	$69,900	$65	73
10 Prairie View Dr Dr	0.19mi	2/1.5 (-1)	1,216 (+6%)	3mo	$65,000	$53	72
1 Bonanza Dr	0.13mi	3/2.0	1,300 (+13%)	8mo	$149,900	$115	66
7 Big Sky Country Drive Dr	0.21mi	3/2.0	1,035 (-10%)	9mo	$110,000	$106	66
5 Rodeo Pl	0.24mi	3/2.0	1,248 (+8%)	12mo	$115,000	$92	65
65 Big Sky Country Dr	0.25mi	3/2.0	1,216 (+6%)	19mo	$77,000	$63	63
98 Cache Dr	0.30mi	2/1.0 (-1)	1,000 (-13%)	2mo	$59,000	$59	54

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 · 5.03% rent growth · sell at horizon

5-year hold

• IRR: 23.3%
• Equity multiple: 1.98×
• Total profit: $26,148
• Equity at exit: $14,165

10-year hold

• IRR: 32.5%
• Equity multiple: 4.24×
• Total profit: $86,235
• Equity at exit: $8,214

Cash invested: $26,600 (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 59102

• Rents YoY: 5.0%
• Active inventory: 197
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $1,590 high
• Mortgage (P&I): −$498
• Tax est. 1.5%: −$119 /mo · $1,425/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$334
• Net cashflow: $600

Break-even live

Break-even rent $831

Max offer price $95,000

Occupancy floor 57%

Sensitivity live

Price	-10% $665	-5% $633	+0% $600	+5% $567	+10% $534
Rent	-10% $474	-5% $537	+0% $600	+5% $663	+10% $725
Rate	-1.0pp $648	-0.5pp $624	base $600	+0.5pp $575	+1.0pp $550

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2604 Phyllis Ln Billings, MT	2.0–3.0	1.0	792	$1,575	$1.99	14d	2	0.32mi
218 Brookshire Blvd Billings, MT	2.0	2.0	1128	$1,445	$1.28	21d	1	0.61mi
371 Cape Cod Dr Billings, MT	2.0	1.5	1175	$1,495	$1.27	21d	1	0.67mi
353 Cape Cod Dr Unit 3 Billings, MT	2.0	1.0	1056	$1,295	$1.23	14d	1	0.67mi
3290 Granger Ave E Billings, MT	1.0–2.0	1.0	686	$1,225	$1.79	14d	5	0.73mi
3040 Central Ave Billings, MT	3.0	1.0–2.0	887	$1,867	$2.10	14d	25	0.77mi
1625 Annafeld Pkwy E #201 Billings, MT	2.0	2.0	949	$1,705	$1.80	14d	1	1.45mi
1625 Annafeld Pkwy E Unit 203 Billings, MT	2.0	2.0	1160	$1,705	$1.47	21d	1	1.45mi
3900 Olympic Blvd Billings, MT	2.0–3.0	1.0–2.0	960	$1,695	$1.76	14d	5	1.47mi
3900 Victory Cir Billings, MT	2.0	1.0	966	$1,360	$1.41	14d	21	1.49mi

Listing history 7 events

1. 2026-06-19
   days on market $95,000 Active 8 DOM
2. 2026-06-18
   days on market $95,000 Active 7 DOM
3. 2026-06-17
   days on market $95,000 Active 6 DOM
4. 2026-06-16
   days on market $95,000 Active 5 DOM
5. 2026-06-15
   days on market $95,000 Active 4 DOM
6. 2026-06-14
   days on market $95,000 Active 2 DOM
7. 2026-06-13
   listed $95,000 Active 1 DOM

ⓘ 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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥95°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,084
• − Mortgage interest: −$5,321
• − Property taxes: −$1,425
• − Insurance: −$475
• − Repairs & maintenance: −$1,527
• − Management: −$1,527
• − Depreciation: −$2,764
• Taxable income: $6,045
• Est. tax owed @ 24.0%: −$1,451
• After-tax cash flow: $5,747/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 · 13 photos

Fair 45/100 Moderate rehab

The home requires significant repairs to the roof and exterior siding, as well as landscaping and maintenance. These updates will improve the home's value and make it more attractive to potential buyers or renters.

Repairs flagged

• Major roof — Significant damage is visible in the independent image.
• Major exterior siding — The siding is weathered and the paint is peeling.
• Major landscaping — The landscaping is overgrown and in need of maintenance.

Value-add opportunities

• Both paint exterior siding — Painting the exterior siding will improve the curb appeal and increase the home's value.
• Both repair roof — Repairing the roof will address a major issue and improve the home's structural integrity.
• Both landscape and maintain yard — A well-maintained yard will improve the home's curb appeal and increase its value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · Significant damage is visible in the independent image.	Major	$15,000–50,000
exterior siding · The siding is weathered and the paint is peeling.	Major	$15,000–50,000
landscaping · The landscaping is overgrown and in need of maintenance.	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both paint exterior siding — Painting the exterior siding will improve the curb appeal and increase the home's value. ↑
• Both repair roof — Repairing the roof will address a major issue and improve the home's structural integrity. ↑
• Both landscape and maintain yard — A well-maintained yard will improve the home's curb appeal and increase its 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)

• District: Billings H S
• NCES district ID: 3003900
• Math proficiency: 29% ▼ -4.00%
• Reading proficiency: 45% ▲ 2.00%
• Median HH income: $49,863
• Composite: 31.93/100
• National rank: #5848
• State rank: #69 of 116 in MT

Livability — Billings

• Score: 80/100
• State rank: #10
• US rank: #1830

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Billings, MT
• County: Yellowstone County · 159,426 people
• City population: 147,124
• Metro: Billings, MT
• Population (ZIP): 47,977
• Household income: $76,141
• Rent vs Own: 31.5% rent · 68.5% own
• Severe rent burden: 1584.0

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 (88%)
• Race & ethnicity: White 88% Hispanic / Latino 6% Two or more races 5% Native American 2% Asian 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Portuguese 10% Slovak 3% Lithuanian 3%
• Foreign-born: 2% · Canada, Vietnam
• Languages at home: 96% English-only · Spanish 2% Vietnamese 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: ▼ -364.20%
• Current HPI: 205.0915
• Rent YoY: ▲ 5.03%
• 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

• 2026-06-11 Listed $95,000 BMTMLS