1662 & 1660 US Hwy 2 W · Kalispell, MT 59901

$699,000

6 bd · 2.0 ba · 3,384 sqft · MultiFamily public records · 49 Days on market

Built 1987 1.08 ac lot ↓ 15% since listing

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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).

• Cash flow +16.4/30.0
• ARV discount +7.5/15.0
• DSCR +5.1/10.0
• Livability +3.6/5.0
• 1% rule +3.5/10.0
• Schools +3.5/10.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 3 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Key facts

• Separate utilities
• Garden
• Private entrance

Tags

• MOUNTAIN AND VALLEY VIEWS
• PRIVATE ENTRANCE
• SEPARATE UTILITIES
• OUTDOOR SPACE
• ROOM TO EXPAND
• GARDEN

Property features AI

Exterior

• Parking: Attached or detached garage (1 garage space)
• Utilities: Private well water; Private sewer / septic tank; Electricity connected; Cable available; Phone available
• Home design: Duplex (residential income); 2 units
• Construction: Wood siding; Built with concrete basement
• Exterior features: Storage; Rolling topography; Back yard and front yard; Bluff and meadow areas; Gentle sloping yard; Highway frontage; Asphalt road access; Views

Interior

• Kitchen: Dishwasher; Range; Refrigerator
• Bedrooms: 4 bedrooms (property total)
• Bathrooms: 3 bathrooms (property total)
• Interior features: High-speed internet; Fireplace; Daylight, finished partial basement with concrete floor; Storage
• Laundry & utility: Washer hookup

Heating & cooling

• Heating & cooling: Baseboard heating; Electric heating; Wall furnace

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/?-bath units multifamily listed at $699k.

Deal economics

• At list price, monthly cash flow is $391 ($5k/yr) — positive. Per door: $130/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $595k (14.9% below list).
• Recommended offer: $595k (14.9% below list) — sets the bar for 1% rule.
• Cap rate 7.0% vs local median 2.1% in Kalispell — 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 72/100 on livability (#61 in MT) — a middle-class / working-renter tenant base. Strengths: health & safety A+, cost of living A, housing A-; Watch: crime C-, commute F, employment D-.
• Flathead H S (town): math 29% / reading 52% proficiency, ranked #55 of 116 in MT (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+2.4%/yr); 683 active listings in the ZIP; 281 units permitted in Flathead County in 2024 (80 in 5+ unit buildings).
• At $5,948/mo this rent would consume 98% of the median local household income ($73k/yr) (locally 1577% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $5k of loan paydown is wiped out by about $21k of value loss. Plan a longer hold.
• Flathead County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($678k) 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

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

Recommended offer $594,800 (14.9% below list)

Questions for the listing agent

1. It's been on market 49 days. Have you received any prior offers? Is the seller open to a 15% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.85% ✗
• Cap rate: 6.96%
• Cash-on-cash: 2.40%
• DSCR: 1.11
• GRM: 9.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.41% rent growth · sell at horizon

5-year hold

• IRR: -13.1%
• Equity multiple: 0.53×
• Total profit: $-92,126
• Equity at exit: $104,223

10-year hold

• IRR: -5.1%
• Equity multiple: 0.68×
• Total profit: $-63,355
• Equity at exit: $60,437

Cash invested: $195,720 (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 59901

• Rents YoY: 2.4%
• Active inventory: 683
• Price-to-rent: 29.4×

Monthly cashflow live

• Estimated rent: $5,948 medium
• Mortgage (P&I): −$3,666
• Tax from tax record: −$351 /mo · $4,216/yr
• Insurance: −$291
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,249
• Net cashflow: $391

Break-even live

Break-even rent $5,453

Max offer price $699,000

Occupancy floor 88%

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	—	$5,949
Total (3 units)			$5,948

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: $174,750
• Closing costs: $20,970
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-19
   days on market $699,000 Active 49 DOM
2. 2026-06-18
   days on market $699,000 Active 48 DOM
3. 2026-06-17
   days on market $699,000 Active 47 DOM
4. 2026-06-16
   days on market $699,000 Active 46 DOM
5. 2026-06-15
   days on market $699,000 Active 45 DOM
6. 2026-06-14
   days on market $699,000 Active 43 DOM
7. 2026-06-13
   days on market $699,000 Active 42 DOM
8. 2026-06-10
   days on market $699,000 Active 40 DOM
9. 2026-06-09
   days on market $699,000 Active 39 DOM
10. 2026-06-08
    days on market $699,000 Active 38 DOM
11. 2026-06-07
    days on market $699,000 Active 37 DOM
12. 2026-06-05
    days on market $699,000 Active 34 DOM
13. 2026-06-03
    days on market $699,000 Active 33 DOM
14. 2026-06-02
    days on market $699,000 Active 32 DOM
15. 2026-06-01
    days on market $699,000 Active 31 DOM
16. 2026-05-31
    days on market $699,000 Active 30 DOM
17. 2026-05-30
    days on market $699,000 Active 29 DOM
18. 2026-05-01
    listed $699,000 Active
19. 2025-05-20
    price $799,000
20. 2025-04-29
    listed $825,000 Active
21. 2024-08-19
    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: $4,216 · $351/mo
• Projected year-2 tax: $5,872 · $489/mo
• Expected delta: +$1,655/yr (+$138/mo · 39.3%)

ⓘ 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 6/10 Major
• 🌡 Heat 2/10 Low 7 d/yr ≥90°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 8/10 Severe 13 unhealthy d/yr today · 16 by 30 yrs out

Taxation est. · year 1

• Rental income: $71,376
• − Mortgage interest: −$39,155
• − Property taxes: −$4,216
• − Insurance: −$3,495
• − Repairs & maintenance: −$5,710
• − Management: −$5,710
• − Depreciation: −$20,335
• Taxable loss: −$7,245
• Est. tax savings @ 24.0%: +$1,739
• After-tax cash flow: $6,427/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: Flathead H S
• NCES district ID: 3015420
• Math proficiency: 29% ▼ -6.00%
• Reading proficiency: 52% ▼ -3.00%
• Median HH income: $49,712
• Composite: 34.79/100
• National rank: #5115
• State rank: #55 of 116 in MT

Livability — Kalispell

• Score: 72/100
• State rank: #61
• US rank: #6399

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Flathead County · 94,027 people
• City population: 63,161
• Metro: Kalispell, MT
• Population (ZIP): 63,161
• Household income: $72,523
• Rent vs Own: 30.0% rent · 70.0% own
• Severe rent burden: 1577.0

Population outlook (Flathead County) Hauer SSP2

• Today (2025): 108,002 people
• By 2030: 113,362 · +5.0%
• By 2040: 122,245 · +13.2%
• By 2050: 129,517 · +19.9%
• By 2075: 146,737 · +35.9%
• By 2100: 155,045 · +43.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 6% Hispanic / Latino 4% Native American 1% Asian 1%
• Common ancestry: Portuguese 9% Slovak 3% Lithuanian 3%
• Foreign-born: 3% · Canada, China
• Languages at home: 96% English-only · Spanish 1% German/W. Germanic 0%

Political lean MEDSL · Flathead

• 2024 margin: Solid R (+33.8) · D 31.8% · R 65.5% · Other 2.7%
• 2008→2024 swing: -12.2pp toward R · 2008: -21.6pp · 2024: -33.8pp
• All cycles: 2024: R+33.8 2020: R+29.9 2016: R+36.5 2012: R+33.4 2008: R+21.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -698.78%
• Current HPI: 225.6792
• Rent YoY: ▲ 2.41%
• Metro: Kalispell, 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

-15.3% since first listed

4 events — show timeline

• 2026-05-01 Listed $699,000 MRMLS
• 2025-05-20 Price Changed $799,000 MRMLS
• 2025-04-29 Listed $825,000 MRMLS
• 2024-08-19 Sold (Public Records) — Public Records

Property tax history

+3.8%/yr

Latest (2025): $4,216 · -9.9% YoY. Source: county tax records.