414 /418 Buchanan St SW Unit 414,414 1/2, 418 & 418 1/2 · Ronan, MT 59864

$530,000

6 bd · 5.1 ba · 4,093 sqft · MultiFamily · 239 Days on market

Built 1937 Fair condition 0.26 ac lot

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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 +24.7/30.0
• DSCR +8.0/10.0
• ARV discount +7.5/15.0
• 1% rule +6.4/10.0
• Livability +3.4/5.0
• Appreciation +2.5/10.0
• Rent growth +2.5/5.0
• Schools +2.4/10.0
• Condition / age +2.2/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Key facts

• Quiet street
• Updated paint
• Updated flooring

Tags

• QUIET STREET
• MATURE TREES
• UPDATED FLOORING
• UPDATED PAINT

Property features AI

Finance

• Other: Pets not allowed
• Financial info: Multiple rental units with current rents: Unit 414 $950, Unit 414 1/2 $725, Unit 418 $950, Unit 418 1/2 $850

Exterior

• Parking: 1-car garage; 1-car carport; On-street parking; Alley access
• Utilities: Public water; Public sewer; Electricity connected; Other utilities available
• Home design: Residential income property; One level; Street-facing and alley access
• Construction: Wood siding; Asphalt and metal roof
• Exterior features: Back yard; Street and alley entry; Asphalt road frontage; Publicly maintained road; Sidewalks

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: Unit 414: 2 bedrooms; Unit 414 1/2: 1 bedroom; Unit 418: 2 bedrooms; Unit 418 1/2 (bonus room/bedroom): 1 bedroom
• Bathrooms: Unit 414: 2 bathrooms; Unit 414 1/2: 1 bathroom; Unit 418: 1 bathroom; Unit 418 1/2: 1 bathroom
• Heating & cooling: Forced air heating
• Interior features: Private restrooms; Crawl space basement with concrete; Washer hookup in unit
• Laundry & utility: Washer (in unit); Dryer

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.7-bath units multifamily listed at $530k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $371/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $530k).
• Recommended offer: $466k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.8% vs local median 3.5% in Ronan — 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 67/100 on livability (#110 in MT) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing B; Watch: schools D+, crime F, amenities F.
• Ronan H S (rural): math 15% / reading 35% proficiency, ranked #252 of 339 in MT (top 74%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 49 active listings in the ZIP; 19 units permitted in Lake County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $16k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 239 days — a 12% lower offer ($466k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1937 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $466,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 239 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1937 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 1.14% ✓
• Cap rate: 8.81%
• Cash-on-cash: 9.00%
• DSCR: 1.40
• GRM: 7.3

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: -2.7%
• Equity multiple: 0.90×
• Total profit: $-14,914
• Equity at exit: $79,025

10-year hold

• IRR: 7.0%
• Equity multiple: 1.53×
• Total profit: $78,649
• Equity at exit: $45,825

Cash invested: $148,400 (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 59864

• Home prices YoY: -1.8%
• Active inventory: 49
• Price-to-rent: 21.9×

Monthly cashflow live

• Estimated rent: $6,045 medium
• Mortgage (P&I): −$2,779
• Tax est. 1.5%: −$662 /mo · $7,950/yr
• Insurance: −$221
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,269
• Net cashflow: $1,113

Break-even live

Break-even rent $4,636

Max offer price $530,000

Occupancy floor 77%

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	2	1.7	$6,045
Total (3 units)			$6,045

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: $132,500
• Closing costs: $15,900
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $530,000 Active 239 DOM
2. 2026-06-17
   days on market $530,000 Active 238 DOM
3. 2026-06-16
   days on market $530,000 Active 237 DOM
4. 2026-06-15
   days on market $530,000 Active 236 DOM
5. 2026-06-13
   days on market $530,000 Active 234 DOM
6. 2026-06-12
   days on market $530,000 Active 233 DOM
7. 2026-06-09
   days on market $530,000 Active 230 DOM
8. 2026-06-08
   days on market $530,000 Active 229 DOM
9. 2026-06-07
   days on market $530,000 Active 228 DOM
10. 2026-06-05
    days on market $530,000 Active 226 DOM
11. 2026-06-04
    days on market $530,000 Active 224 DOM
12. 2026-06-02
    days on market $530,000 Active 223 DOM
13. 2026-06-01
    days on market $530,000 Active 222 DOM
14. 2026-05-31
    days on market $530,000 Active 221 DOM
15. 2026-04-21
    status Active
16. 2025-10-16
    listed $530,000 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 5/10 Major
• 🌡 Heat 2/10 Low 7 d/yr ≥90°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 16 unhealthy d/yr today · 19 by 30 yrs out

Taxation est. · year 1

• Rental income: $72,540
• − Mortgage interest: −$29,688
• − Property taxes: −$7,950
• − Insurance: −$2,650
• − Repairs & maintenance: −$5,803
• − Management: −$5,803
• − Depreciation: −$15,418
• Taxable income: $5,227
• Est. tax owed @ 24.0%: −$1,255
• After-tax cash flow: $12,100/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

This multi-family property requires extensive repairs and updates to its roof, exterior siding, flooring, interior walls, bathrooms, kitchen, and HVAC system. The home's condition is fair, and the repairs and updates will significantly increase its resale and rental value.

Repairs flagged

• Major roof — The roof appears to be in poor condition and may need to be replaced.
• Major exterior siding — The exterior siding is peeling and in need of repainting.
• Major flooring — The flooring in the kitchen and living areas appears to be carpeted and in need of replacement.
• Major interior walls — The interior walls show signs of wear and tear, with some discoloration and potential damage.
• Major bathrooms — The bathrooms appear to be in poor condition, with outdated fixtures and potential plumbing issues.
• Major kitchen cabinets — The kitchen cabinets are outdated and in need of replacement.
• Major HVAC system — The HVAC system appears to be outdated and may need replacement or repair.

Value-add opportunities

• Resale replace roof — A new roof will significantly improve the home's curb appeal and increase its resale value.
• Resale update exterior siding and paint — Updating the exterior siding and painting will improve the home's curb appeal and increase its resale value.
• Resale replace flooring — Replacing the carpet flooring with hardwood or tile will improve the home's resale value and increase its rental value.
• Resale repair and update interior walls — Repairing and updating the interior walls will improve the home's resale value and increase its rental value.
• Resale update bathrooms — Updating the bathrooms with new fixtures and finishes will improve the home's resale value and increase its rental value.
• Resale replace kitchen cabinets — Replacing the outdated kitchen cabinets with new ones will improve the home's resale value and increase its rental value.
• Resale repair and update HVAC system — Repairing and updating the HVAC system will improve the home's resale value and increase its rental value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · The roof appears to be in poor condition and may need to be replaced.	Major	$15,000–50,000
exterior siding · The exterior siding is peeling and in need of repainting.	Major	$15,000–50,000
flooring · The flooring in the kitchen and living areas appears to be carpeted and in need of replacement.	Major	$15,000–50,000
interior walls · The interior walls show signs of wear and tear, with some discoloration and potential damage.	Major	$15,000–50,000
bathrooms · The bathrooms appear to be in poor condition, with outdated fixtures and potential plumbing issues.	Major	$15,000–50,000
kitchen cabinets · The kitchen cabinets are outdated and in need of replacement.	Major	$15,000–50,000
HVAC system · The HVAC system appears to be outdated and may need replacement or repair.	Major	$15,000–50,000
Total estimated repair cost · 7 items		$105,000–350,000

Value-add ROI direction

• Resale replace roof — A new roof will significantly improve the home's curb appeal and increase its resale value. ↑
• Resale update exterior siding and paint — Updating the exterior siding and painting will improve the home's curb appeal and increase its resale value. ↑
• Resale replace flooring — Replacing the carpet flooring with hardwood or tile will improve the home's resale value and increase its rental value. ↑
• Resale repair and update interior walls — Repairing and updating the interior walls will improve the home's resale value and increase its rental value. ↑
• Resale update bathrooms — Updating the bathrooms with new fixtures and finishes will improve the home's resale value and increase its rental value. ↑
• Resale replace kitchen cabinets — Replacing the outdated kitchen cabinets with new ones will improve the home's resale value and increase its rental value. ↑
• Resale repair and update HVAC system — Repairing and updating the HVAC system will improve the home's resale value and increase its rental 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: Ronan H S
• NCES district ID: 3022800
• Math proficiency: 15% ▬ 0.00%
• Reading proficiency: 35% ▲ 5.00%
• Median HH income: $36,640
• Composite: 23.78/100
• National rank: #13226
• State rank: #252 of 339 in MT

Livability — Ronan

• Score: 67/100
• State rank: #110
• US rank: #11131

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ronan, MT
• Population (ZIP): 7,399

Population outlook (Lake County) Hauer SSP2

• Today (2025): 30,614 people
• By 2030: 30,774 · +0.5%
• By 2040: 30,830 · +0.7%
• By 2050: 31,195 · +1.9%
• By 2075: 33,748 · +10.2%
• By 2100: 35,779 · +16.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.74)
• Race & ethnicity: White 51% Native American 35% Two or more races 11% Hispanic / Latino 4%
• Common ancestry: Portuguese 4% Lithuanian 2% Slovak 2%
• Foreign-born: 1%
• Languages at home: 93% English-only · Spanish 2%

Political lean MEDSL · Lake

• 2024 margin: R (+19.9) · D 38.5% · R 58.4% · Other 3.1%
• 2008→2024 swing: -21.9pp toward R · 2008: 1.9pp · 2024: -19.9pp
• All cycles: 2024: R+19.9 2020: R+14.5 2016: R+21.3 2012: R+10.4 2008: D+1.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -4.97%
• Current HPI: 275.309
• Rent YoY: —
• Metro: —
• 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

2 events — show timeline

• 2026-04-21 Relisted — MRMLS
• 2025-10-16 Listed $530,000 MRMLS