2915 Pleasure Rd · Helena Valley Southeast, MT 59601

$145,000

3 bd · 2.0 ba · 1,216 sqft · Manufactured · 20 Days on market

Built 2006 Fair condition Est $120k · 20% over $615/mo HOA · 32% of rent

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Why this score? — see what drove the F 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 +8.8/30.0
• 1% rule +8.1/10.0
• Schools +3.8/10.0
• Livability +3.2/5.0
• Rent growth +2.9/5.0
• DSCR +2.4/10.0
• Condition / age +2.2/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Remarks: Spacious & well maintained with lots of natural light. Nicely updated kitchen, with lots of cabinet space including a buffet. Oversized detached garage. Bedrooms are good size. Master suite with double vanity. Located on private dead end road. Lot rent is $280/month which covers water, sewer and garbage.

Key facts

• Thoughtful updates
• Enclosed porch
• New dishwasher

Tags

• THOUGHTFUL UPDATES
• NEW DISHWASHER
• UNDERGROUND SPRINKLERS
• ENCLOSED PORCH
• MINUTES FROM SHOPPING
• MINUTES FROM DINING

Property features AI

Finance

• HOA & community: Homeowners association with monthly fee; Community pool; HOA fee includes water, sewer and trash; HOA fee: $615 monthly

Exterior

• Parking: 1-car garage
• Home design: Manufactured home (single wide); Residential property
• Construction: Pillar/post/pier foundation
• Exterior features: Lot on leased land

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator
• Bathrooms: 2 full bathrooms
• Interior features: Dishwasher; Microwave; Range; Refrigerator; No basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $145k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $-119 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $128k (11.9% below list).
• Meets the 1% rule at list price ($2k rent vs $145k).
• Recommended offer: $128k (11.9% below list) — sets the bar for cash-flow.
• Cap rate 5.3% vs local median 2.3% in Helena Valley Southeast — 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 63/100 on livability (#160 in MT) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: amenities F, commute F, health & safety 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: Rents rising (+1.5%/yr); 166 active listings in the ZIP; 456 units permitted in Lewis and Clark County in 2024 (207 in 5+ unit buildings).
• This rent runs 31% of the median local income ($72k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k 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.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($143k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 12y ago 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: HOA is 32% of rent.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $127,772 (11.9% 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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.31% ✓
• Cap rate: 5.31%
• Cash-on-cash: -3.52%
• DSCR: 0.84
• GRM: 6.4

CMA / ARV

• ARV (on-the-fly): $120,384
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2879 Village Rd	0.09mi	3/2.0	1,248 (+3%)	2mo	$89,900	$72	90
2934 Flamingo Rd	0.16mi	3/2.0	1,144 (-6%)	2mo	$165,000	$144	81
2922 Village Rd	0.02mi	3/2.0	1,140 (-6%)	12mo	$118,000	$104	79
2873 Village Rd	0.10mi	3/2.0	1,064 (-12%)	2mo	$77,000	$72	73
2935 Sunnyside Rd	0.33mi	3/2.0	1,216 (0%)	22mo	$120,000	$99	66
3521 Riviera Dr	0.45mi	3/2.0	1,216 (0%)	15mo	$179,900	$148	66
3536 Rainbow Dr	0.41mi	3/2.0	1,352 (+11%)	0mo	$105,000	$78	62
2924 Sunnyside Rd	0.30mi	3/2.0	1,040 (-14%)	3mo	$139,900	$135	60
3617 Riviera Dr	0.24mi	3/2.0	1,344 (+10%)	18mo	$129,900	$97	57

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 · 1.54% rent growth · sell at horizon

5-year hold

• IRR: -24.6%
• Equity multiple: 0.18×
• Total profit: $-33,418
• Equity at exit: $21,620

10-year hold

• IRR: -28.1%
• Equity multiple: -0.19×
• Total profit: $-48,153
• Equity at exit: $12,537

Cash invested: $40,600 (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 59601

• Rents YoY: 1.5%
• Active inventory: 166
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,896 medium
• Mortgage (P&I): −$760
• Tax est. 1.5%: −$181 /mo · $2,175/yr
• Insurance: −$60
• HOA: −$615
• Vacancy / Maint / Mgmt: −$398
• Net cashflow: $-119

Break-even live

Break-even rent $2,047

Max offer price $127,772

Occupancy floor —

Sensitivity live

Price	-10% $-19	-5% $-69	+0% $-119	+5% $-169	+10% $-219
Rent	-10% $-269	-5% $-194	+0% $-119	+5% $-44	+10% $31
Rate	-1.0pp $-46	-0.5pp $-82	base $-119	+0.5pp $-157	+1.0pp $-195

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $615 · $7,380/yr
• Likely covers: watersewertrash

Listing history 16 events

1. 2026-06-19
   days on market $145,000 Active 20 DOM
2. 2026-06-18
   days on market $145,000 Active 19 DOM
3. 2026-06-17
   days on market $145,000 Active 18 DOM
4. 2026-06-16
   days on market $145,000 Active 17 DOM
5. 2026-06-15
   days on market $145,000 Active 16 DOM
6. 2026-06-14
   days on market $145,000 Active 14 DOM
7. 2026-06-13
   days on market $145,000 Active 13 DOM
8. 2026-06-10
   days on market $145,000 Active 11 DOM
9. 2026-06-09
   days on market $145,000 Active 10 DOM
10. 2026-06-08
    days on market $145,000 Active 9 DOM
11. 2026-06-07
    days on market $145,000 Active 8 DOM
12. 2026-06-05
    days on market $145,000 Active 5 DOM
13. 2026-06-03
    days on market $145,000 Active 4 DOM
14. 2026-06-02
    days on market $145,000 Active 3 DOM
15. 2026-06-01
    days on market $145,000 Active 2 DOM
16. 2026-05-30
    listed $145,000 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 5/10 Major
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 9 unhealthy d/yr today · 18 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,755
• − Mortgage interest: −$8,122
• − Property taxes: −$2,175
• − Insurance: −$725
• − Repairs & maintenance: −$1,820
• − Management: −$1,820
• − HOA: −$7,380
• − Depreciation: −$4,218
• Taxable loss: −$3,507
• Est. tax savings @ 24.0%: +$842
• After-tax cash flow: $-587/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 · 1 photo

Fair 45/100 Moderate rehab

This manufactured home requires moderate repairs to the exterior siding and landscaping, with minor maintenance needed for painting and window replacement. Upgrades to the exterior and windows would significantly enhance its resale and rental value.

Repairs flagged

• Major exterior siding — Significant weathering and discoloration
• Minor landscaping — Basic landscaping

Value-add opportunities

• Both paint exterior — Enhances curb appeal and resale value
• Both replace windows — Improves energy efficiency and resale value

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Significant weathering and discoloration	Major	$15,000–50,000
landscaping · Basic landscaping	Minor	$500–3,000
Total estimated repair cost · 2 items		$15,500–53,000

Value-add ROI direction

• Both paint exterior — Enhances curb appeal and resale value ↑
• Both replace windows — Improves energy efficiency and resale 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 Valley Southeast

• Score: 63/100
• State rank: #160
• US rank: #15212

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Helena Valley Southeast, MT
• County: Lewis and Clark County · 62,482 people
• Metro: Helena, MT
• Population (ZIP): 31,728
• Household income: $72,290
• Rent vs Own: 44.2% rent · 55.8% own
• Severe rent burden: 1080.0

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 (88%)
• Race & ethnicity: White 88% Two or more races 5% Hispanic / Latino 4% Native American 1%
• Common ancestry: Portuguese 7% Lithuanian 4% Slovak 4%
• Foreign-born: 1% · Canada, South Korea
• Languages at home: 97% English-only · Spanish 1% Russian/Polish/Slavic 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: ▼ -417.31%
• Current HPI: 231.6233
• Rent YoY: ▲ 1.54%
• 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

+163.6% since first listed

3 events — show timeline

• 2026-05-30 Listed $145,000 MRMLS
• 2015-01-23 Sold (MLS) — MRMLS
• 2014-12-15 Listed $55,000 MRMLS