111 Spyglass Hill Loop Unit 911 Wk 48

Columbia Falls, MT 59912

$50F

2 bd · 3.0 ba · 1,360 sqft · Built 1998 · SingleFamily · Active · 1289 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,558/mo
• Mortgage (P&I): −$1,968
• Tax + insurance: −$626
• HOA: −$92
• Vac / Maint / Mgmt: −$327
• Net cashflow: $-1,455/mo
• Annual: $-17,464/yr
• Cap rate: 1.64%
• Cash-on-cash: -16.62%
• DSCR: 0.26
• 1% rule: 0.42%
• Cash to close: $105,101

Investor read

• This is a 2-bed/3.0-bath single-family listed at $50.
• At list price, monthly cash flow is $-1k ($-17k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $50).
• It's been on market 1289 days — a 12% lower offer ($44) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $44 (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.
• Location reads 68/100 on livability (#96 in MT) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A, schools B; Watch: employment D, amenities F, commute F.
• Columbia Falls H S (town): math 25% / reading 40% proficiency, ranked #198 of 339 in MT (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: property tax is 11260.8% of price.
• Market conditions: 170 active listings in the ZIP; solid renter incomes; 281 units permitted in Flathead County in 2024 (80 in 5+ unit buildings).
• Flathead County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Cap rate 1.6% vs local median 1.4% in Columbia Falls — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 1289 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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 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?
• 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?