28 Yellowstone Spur Rd Unit 28B · Big Sky, MT 59716

$550,000

1 bd · 1.5 ba · 664 sqft · Condo public records · 114 Days on market

Built 1973 $828/sqft · 19% below area Est $675k · 19% under $575/mo HOA · 19% of rent

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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).

• ARV discount +15.0/15.0
• Appreciation +9.2/10.0
• Schools +4.5/10.0
• Cash flow +4.3/30.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.5/10.0
• DSCR +0.0/10.0

Listing remarks MLS

This thoughtfully designed 1-bedroom, 1.5-bathroom Yellowstone Condo is located in the heart of Big Sky’s Meadow Village. The interior features an efficient floor plan elevated by high ceilings and abundant natural light. Residents enjoy immediate access to the golf course, which transforms into groomed cross-country ski trails during the winter months. This condo is being sold completely furnished and with the personal items. It is ready for you to move in! Community amenities also include an indoor pool, hot tub, and sauna. The property is within walking distance of the Big Sky Town Center’s shops, restaurants, and seasonal events. This condo serves as an ideal year-round home for your vacations or permanent living needs.

Key facts

• Hot tub
• Sauna
• Golf course access

Tags

• GOLF COURSE ACCESS
• CROSS-COUNTRY SKI TRAILS
• INDOOR POOL
• HOT TUB
• SAUNA
• WALKING DISTANCE TO SHOPS

What this means for you Summary

Snapshot

• This is a 1-bed/1.5-bath condo listed at $550k.

Deal economics

• At list price, monthly cash flow is $-1k ($-18k/yr) — negative.
• To cash-flow at today's rent, offer at most $289k (47.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $300k (45.5% below list).
• Recommended offer: $289k (47.5% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 66/100 on livability (#113 in MT) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing B; Watch: schools C-, health & safety C-, amenities F.
• Big Sky School K-12 (rural): math 47% / reading 54% proficiency, ranked #17 of 116 in MT (top 15%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 5% free/reduced lunch — higher-income household profile.
• Market conditions: 261 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,706 units permitted in Gallatin County in 2024 (533 in 5+ unit buildings).

Forward outlook

• In year one you build about $50k of equity ($4k loan paydown + $46k appreciation (8.4% local appreciation)).
• Gallatin County population projected at +61% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$80k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 114 days — a 9% lower offer ($500k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $289,000 (47.5% below list)

Questions for the listing agent

1. 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?
2. It's been on market 114 days. Have you received any prior offers? Is the seller open to a 47% concession, seller financing, or rate buy-down credit?
3. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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. 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?
9. 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.
10. 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.
11. 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: 0.55% ✗
• Cap rate: 3.07%
• Cash-on-cash: -11.51%
• DSCR: 0.49
• GRM: 15.3

CMA / ARV

• ARV (median comp): $675,056
• List price: $550,000
• Delta: -18.53%
• Verdict: UNDERPRICED
• Comps: 11 within 1.0 mi

Projected returns pro-forma

8.37% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 12.3%
• Equity multiple: 1.94×
• Total profit: $145,518
• Equity at exit: $431,654

10-year hold

• IRR: 12.8%
• Equity multiple: 4.20×
• Total profit: $493,066
• Equity at exit: $870,341

Cash invested: $154,000 (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 59716

• Home prices YoY: 2.8%
• Active inventory: 261
• Price-to-rent: 15.3×

Monthly cashflow live

• Estimated rent: $3,000 medium
• Mortgage (P&I): −$2,884
• Tax from tax record: −$159 /mo · $1,908/yr
• Insurance: −$229
• HOA: −$575
• Vacancy / Maint / Mgmt: −$630
• Net cashflow: $-1,477

Break-even live

Break-even rent $4,870

Max offer price $289,000

Occupancy floor —

Sensitivity live

Price	-10% $-1,166	-5% $-1,322	+0% $-1,477	+5% $-1,633	+10% $-1,789
Rent	-10% $-1,714	-5% $-1,596	+0% $-1,477	+5% $-1,359	+10% $-1,240
Rate	-1.0pp $-1,200	-0.5pp $-1,338	base $-1,477	+0.5pp $-1,620	+1.0pp $-1,765

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: $137,500
• Closing costs: $16,500
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2575 Curley Bear Rd #149 Big Sky, MT	2.0	1.0	740	$3,000	$4.05	44d	1	0.49mi

HOA detail condo

• Monthly dues: $575 · $6,900/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-21
   days on market $550,000 Active 114 DOM
2. 2026-06-18
   days on market $550,000 Active 112 DOM
3. 2026-06-17
   days on market $550,000 Active 111 DOM
4. 2026-06-16
   days on market $550,000 Active 110 DOM
5. 2026-06-15
   days on market $550,000 Active 109 DOM
6. 2026-06-13
   days on market $550,000 Active 107 DOM
7. 2026-06-12
   days on market $550,000 Active 106 DOM
8. 2026-06-09
   days on market $550,000 Active 103 DOM
9. 2026-06-08
   days on market $550,000 Active 102 DOM
10. 2026-06-07
    days on market $550,000 Active 101 DOM
11. 2026-06-05
    days on market $550,000 Active 99 DOM
12. 2026-06-04
    days on market $550,000 Active 97 DOM
13. 2026-06-02
    days on market $550,000 Active 96 DOM
14. 2026-06-01
    days on market $550,000 Active 95 DOM
15. 2026-05-31
    days on market $550,000 Active 94 DOM
16. 2026-02-26
    listed $550,000 Active 746-char remark

    Show marketing remark (746 chars)

    This thoughtfully designed 1-bedroom, 1.5-bathroom Yellowstone Condo is located in the heart of Big Sky’s Meadow Village. The interior features an efficient floor plan elevated by high ceilings and abundant natural light. Residents enjoy immediate access to the golf course, which transforms into groomed cross-country ski trails during the winter months. This condo is being sold completely furnished and with the personal items. It is ready for you to move in! Community amenities also include an indoor pool, hot tub, and sauna. The property is within walking distance of the Big Sky Town Center’s shops, restaurants, and seasonal events. This condo serves as an ideal year-round home for your vacations or permanent living needs.

17. 1996-11-20
    soldstatus
18. 1995-06-28
    soldstatus

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

Tax reassessment forecast MT · Resets to sale price

• Current annual tax: $1,908 · $159/mo
• Projected year-2 tax: $4,620 · $385/mo
• Expected delta: +$2,712/yr (+$226/mo · 142.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 1/10 Low 9 d/yr ≥85°F today · 23 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $36,000
• − Mortgage interest: −$30,809
• − Property taxes: −$1,908
• − Insurance: −$2,750
• − Repairs & maintenance: −$2,880
• − Management: −$2,880
• − HOA: −$6,900
• − Depreciation: −$16,000
• Taxable loss: −$28,127
• Est. tax savings @ 24.0%: +$6,750
• After-tax cash flow: $-10,979/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.

Schools (NCES district)

• District: Big Sky School K-12
• NCES district ID: 3000654
• Math proficiency: 47% ▼ -9.00%
• Reading proficiency: 54% ▼ -8.00%
• Median HH income: $64,215
• Composite: 44.53/100
• National rank: #2791
• State rank: #17 of 116 in MT

Livability — Big Sky

• Score: 66/100
• State rank: #113
• US rank: #11337

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Big Sky, MT
• City population: 1,867
• Population (ZIP): 1,867

Population outlook (Gallatin County) Hauer SSP2

• Today (2025): 129,625 people
• By 2030: 144,940 · +11.8%
• By 2040: 176,266 · +36.0%
• By 2050: 209,250 · +61.4%
• By 2075: 294,207 · +127.0%
• By 2100: 360,558 · +178.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Hispanic / Latino 5% Two or more races 3%
• Common ancestry: Lithuanian 6% Iranian 4% Serbian 4%
• Foreign-born: 10% · Canada
• Languages at home: 94% English-only · Spanish 4% German/W. Germanic 1%

Political lean MEDSL · Gallatin

• 2024 margin: Toss-up / Even · D 50.0% · R 46.8% · Other 3.2%
• 2008→2024 swing: -0.2pp no change · 2008: 3.4pp · 2024: 3.2pp
• All cycles: 2024: D+3.2 2020: D+7.5 2016: D+1.0 2012: R+5.3 2008: D+3.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 8.37%
• Current HPI: 308.041
• 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

3 events — show timeline

• 2026-02-26 Listed $550,000 BSCMLS
• 1996-11-20 Sold (Public Records) — Public Records
• 1995-06-28 Sold (Public Records) — Public Records

Property tax history

+2.8%/yr

Latest (2025): $1,908 · -18.0% YoY. Source: county tax records.