None · Helena, MT 59602

$45,000

2 bd · 1.0 ba · 960 sqft · Manufactured · 41 Days on market

Built 1994 Fair condition 9,104 sqft lot ↓ 16% since listing

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Why this score? — see what drove the B 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
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Schools +3.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Key facts

• 9,104 sq ft lot
• Built 1994
• Listed 40 days

Property features AI

Finance

• HOA & community: Street lights in the community

Exterior

• Parking: See remarks for parking details
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Electricity connected; Other utilities: see remarks
• Home design: Manufactured home (single wide); One level; Residential property, updated/remodeled
• Construction: Masonite exterior; Asphalt roof; Pillar/post/pier foundation
• Exterior features: Rain gutters; Deck; Chain link front-yard fencing; Level, landscaped front yard; Gravel road access

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas forced air heating
• Interior features: Dishwasher; Microwave; Range; Refrigerator; Updated/remodeled interior; No basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $45k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $943 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $45k).
• Recommended offer: $44k (3.0% below list) — sets the bar for market timing.
• Cap rate 31.4% vs local median 2.6% in Helena — 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 81/100 on livability (#6 in MT, #1,389 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+; Watch: crime F.
• Helena H S (town): math 34% / reading 54% proficiency, ranked #42 of 116 in MT (top 36%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 195 active listings in the ZIP; solid renter incomes; 456 units permitted in Lewis and Clark County in 2024 (207 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $311 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Lewis and Clark County population projected at +14% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($44k) 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 $43,650 (3.0% below list)

Questions for the listing agent

1. It's been on market 41 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. 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?
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: 3.53% ✓
• Cap rate: 31.44%
• Cash-on-cash: 89.82%
• DSCR: 5.00
• GRM: 2.4

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: 90.5%
• Equity multiple: 5.19×
• Total profit: $52,802
• Equity at exit: $6,710

10-year hold

• IRR: 93.4%
• Equity multiple: 10.80×
• Total profit: $123,426
• Equity at exit: $3,891

Cash invested: $12,600 (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 59602

• Active inventory: 195
• Price-to-rent: 2.4×

Monthly cashflow live

• Estimated rent: $1,588 medium
• Mortgage (P&I): −$236
• Tax est. 1.5%: −$56 /mo · $675/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$333
• Net cashflow: $943

Break-even live

Break-even rent $394

Max offer price $45,000

Occupancy floor 36%

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-19
   days on market $45,000 Active 41 DOM
2. 2026-06-18
   days on market $45,000 Active 40 DOM
3. 2026-06-17
   days on market $45,000 Active 39 DOM
4. 2026-06-16
   days on market $45,000 Active 38 DOM
5. 2026-06-15
   days on market $45,000 Active 37 DOM
6. 2026-06-14
   days on market $45,000 Active 35 DOM
7. 2026-06-13
   days on market $45,000 Active 34 DOM
8. 2026-06-10
   days on market $45,000 Active 32 DOM
9. 2026-06-09
   days on market $45,000 Active 31 DOM
10. 2026-06-08
    days on market $45,000 Active 30 DOM
11. 2026-06-07
    days on market $45,000 Active 29 DOM
12. 2026-06-05
    days on market $45,000 Active 26 DOM
13. 2026-06-03
    days on market $45,000 Active 25 DOM
14. 2026-06-02
    days on market $45,000 Active 24 DOM
15. 2026-06-01
    days on market $45,000 Active 23 DOM
16. 2026-05-31
    days on market $45,000 Active 22 DOM
17. 2026-05-30
    days on market $45,000 Active 21 DOM
18. 2026-05-21
    price $45,000
19. 2026-05-09
    listed $53,500 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 ≥91°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 9 unhealthy d/yr today · 20 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,050
• − Mortgage interest: −$2,521
• − Property taxes: −$675
• − Insurance: −$225
• − Repairs & maintenance: −$1,524
• − Management: −$1,524
• − Depreciation: −$1,309
• Taxable income: $11,272
• Est. tax owed @ 24.0%: −$2,705
• After-tax cash flow: $8,612/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 · 11 photos

Fair 45/100 Moderate rehab

This manufactured home requires significant repairs and maintenance to improve its condition and increase its value.

Repairs flagged

• Major exterior siding — Significant wear and tear
• Major interior walls — Worn wallpaper and paint
• Major flooring — Worn carpet and flooring
• Major landscaping — Overgrown lawn and lack of landscaping

Value-add opportunities

• Both Paint interior walls — Enhances curb appeal and interior aesthetics
• Both Replace carpet and flooring — Improves comfort and reduces maintenance
• Both Landscaping and yard work — Enhances curb appeal and property value

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Significant wear and tear	Major	$15,000–50,000
interior walls · Worn wallpaper and paint	Major	$15,000–50,000
flooring · Worn carpet and flooring	Major	$15,000–50,000
landscaping · Overgrown lawn and lack of landscaping	Major	$15,000–50,000
Total estimated repair cost · 4 items		$60,000–200,000

Value-add ROI direction

• Both Paint interior walls — Enhances curb appeal and interior aesthetics ↑
• Both Replace carpet and flooring — Improves comfort and reduces maintenance ↑
• Both Landscaping and yard work — Enhances curb appeal and property 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: Helena H S
• NCES district ID: 3013830
• Math proficiency: 34% ▼ -6.00%
• Reading proficiency: 54% ▼ -3.00%
• Median HH income: $55,565
• Composite: 38.26/100
• National rank: #4238
• State rank: #42 of 116 in MT

Livability — Helena

• Score: 81/100
• State rank: #6
• US rank: #1389

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: Helena, MT
• County: Lewis and Clark County · 62,482 people
• City population: 62,482
• Metro: Helena, MT
• Population (ZIP): 30,754
• Household income: $92,985
• Rent vs Own: 15.9% rent · 84.1% own
• Severe rent burden: 105.0

Population outlook (Lewis and Clark County) Hauer SSP2

• Today (2025): 72,720 people
• By 2030: 75,403 · +3.7%
• By 2040: 79,496 · +9.3%
• By 2050: 82,741 · +13.8%
• By 2075: 90,296 · +24.2%
• By 2100: 93,425 · +28.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 6% Hispanic / Latino 4%
• Common ancestry: Portuguese 6% Lithuanian 3% Italian 3%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Lewis and Clark

• 2024 margin: Lean R (+5.7) · D 45.4% · R 51.1% · Other 3.5%
• 2008→2024 swing: -12.2pp toward R · 2008: 6.5pp · 2024: -5.7pp
• All cycles: 2024: R+5.7 2020: R+3.9 2016: R+6.9 2012: R+3.6 2008: D+6.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -178.02%
• Current HPI: 243.543
• Rent YoY: —
• Metro: Helena, 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

-15.9% since first listed

2 events — show timeline

• 2026-05-21 Price Changed $45,000 MRMLS
• 2026-05-09 Listed $53,500 MRMLS