154 Laager Loop · Bozeman, MT 59715

$105,500

3 bd · 2.0 ba · 1,216 sqft · Other · 38 Days on market

Built 2013 Fair condition

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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
• Schools +5.2/10.0
• Livability +4.2/5.0
• Rent growth +2.6/5.0
• Condition / age +2.0/5.0
• Appreciation +0.0/10.0

Key facts

• Next to park
• Fenced yard
• Garden shed

Tags

• FENCED YARD
• 2 DECKS
• GARDEN SHED
• NEXT TO PARK
• WALKING DISTANCE TO GROCERIES
• WALKING DISTANCE TO SHOPPING

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $106k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $106k).
• Recommended offer: $102k (3.0% below list) — sets the bar for market timing.
• Cap rate 19.0% vs local median 2.1% in Bozeman — 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 85/100 on livability (#1 in MT, #537 nationally) — a professional / high-income tenant draw. Strengths: schools A+, amenities A+, commute A+; Watch: crime D, cost of living D-.
• Bozeman Elementary (town): math 56% / reading 66% proficiency, ranked #7 of 116 in MT (top 6%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 18% free/reduced lunch — higher-income household profile.
• Market conditions: Rents flat; 298 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,706 units permitted in Gallatin County in 2024 (533 in 5+ unit buildings).
• This rent runs 32% of the median local income ($88k/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 $729 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Gallatin County population projected at +61% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 0.2% rent growth), your $30k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($102k) is reasonable based on typical stale-listing flexibility.

Recommended offer $102,335 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 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 A-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 D 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: 2.22% ✓
• Cap rate: 19.04%
• Cash-on-cash: 45.51%
• DSCR: 3.02
• GRM: 3.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.2% rent growth · sell at horizon

5-year hold

• IRR: 39.5%
• Equity multiple: 2.62×
• Total profit: $47,876
• Equity at exit: $15,730

10-year hold

• IRR: 44.5%
• Equity multiple: 4.68×
• Total profit: $108,818
• Equity at exit: $9,122

Cash invested: $29,540 (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 59715

• Rents YoY: 0.2%
• Active inventory: 298
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $2,341 high
• Mortgage (P&I): −$553
• Tax est. 1.5%: −$132 /mo · $1,582/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$492
• Net cashflow: $1,120

Break-even live

Break-even rent $923

Max offer price $105,500

Occupancy floor 47%

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: $26,375
• Closing costs: $3,165
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1062 W Oak St Bozeman, MT	2.0	1.0	868	$1,900	$2.19	21d	2	0.40mi
603 Emily Dr Bozeman, MT	2.0–3.0	1.0–2.0	1075	$2,384	$2.22	21d	3	0.44mi
2235 Tschache Ln Bozeman, MT	2.0	1.0–2.0	788	$2,195	$2.78	21d	9	0.65mi
1481 N 25th Ave Bozeman, MT	2.0	1.0–2.0	887	$2,050	$2.31	21d	21	0.66mi
1810 N 25th Ave Bozeman, MT	1.0–3.0	1.0–2.0	1188	$8,250	$6.94	21d	210	0.69mi
811 W Villard St Unit 60 Bozeman, MT	2.0	1.0	865	$1,600	$1.85	21d	1	0.69mi
807 W Villard St Unit 13 Bozeman, MT	2.0	1.0	865	$1,700	$1.97	21d	1	0.73mi
303 N 9th Ave Unit 307 Bozeman, MT	2.0	1.0	1193	$1,900	$1.59	21d	1	0.77mi
1624 W Babcock St Bozeman, MT	1.0–2.0	1.0–2.0	1039	$2,465	$2.37	21d	6	0.90mi
2130 S 18th Ave Bozeman, MT	1.0–3.0	1.0–2.5	1438	$4,140	$2.88	21d	28	0.97mi
106 Sunlight Ave Bozeman, MT	3.0	2.0	960	$2,100	$2.19	21d	1	0.98mi
151 S 11th Ave Bozeman, MT	2.0	1.0	734	$2,250	$3.07	21d	1	0.99mi
818 W Babcock St Bozeman, MT	1.0–3.0	1.0–2.0	1003	$5,195	$5.18	21d	8	1.01mi
209 S 19th Ave Unit 1 Bozeman, MT	2.0	1.0	1000	$2,100	$2.10	21d	1	1.01mi
109 Meghans Way Bozeman, MT	2.0	2.0	1100	$3,500	$3.18	21d	1	1.01mi
2710 Sartain St Unit 303A Bozeman, MT	2.0	1.5	802	$1,850	$2.31	21d	1	1.03mi
2307 W Main St Bozeman, MT	1.0–2.0	1.0	669	$1,650	$2.47	21d	9	1.04mi
304 S 20th Ave Bozeman, MT	3.0	1.0	1500	$2,300	$1.53	21d	1	1.06mi
406 S 20th Ave Unit A Bozeman, MT	2.0	1.0	1050	$1,750	$1.67	21d	1	1.13mi
111 W Lamme St Bozeman, MT	2.0	1.0–2.0	1005	$3,100	$3.08	21d	10	1.17mi
3657 Laduke St Bozeman, MT	3.0	2.5	1500	$2,800	$1.87	21d	1	1.36mi
120 S Black Ave Bozeman, MT	2.0	1.0	1071	$1,850	$1.73	21d	1	1.48mi
110 E Olive St Unit 402 Black Olive Bozeman, MT	2.0	2.0	1051	$2,825	$2.69	21d	1	1.50mi

Listing history 17 events

1. 2026-06-19
   days on market $105,500 Active 38 DOM
2. 2026-06-18
   days on market $105,500 Active 37 DOM
3. 2026-06-17
   days on market $105,500 Active 36 DOM
4. 2026-06-16
   days on market $105,500 Active 35 DOM
5. 2026-06-15
   days on market $105,500 Active 34 DOM
6. 2026-06-14
   days on market $105,500 Active 32 DOM
7. 2026-06-13
   days on market $105,500 Active 31 DOM
8. 2026-06-10
   days on market $105,500 Active 29 DOM
9. 2026-06-09
   days on market $105,500 Active 28 DOM
10. 2026-06-08
    days on market $105,500 Active 27 DOM
11. 2026-06-07
    days on market $105,500 Active 26 DOM
12. 2026-06-05
    days on market $105,500 Active 23 DOM
13. 2026-06-02
    days on market $105,500 Active 21 DOM
14. 2026-06-01
    days on market $105,500 Active 20 DOM
15. 2026-05-31
    days on market $105,500 Active 19 DOM
16. 2026-05-30
    days on market $105,500 Active 18 DOM
17. 2026-05-12
    listed $105,500 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 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥88°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 5/10 Major 8 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,092
• − Mortgage interest: −$5,910
• − Property taxes: −$1,582
• − Insurance: −$528
• − Repairs & maintenance: −$2,247
• − Management: −$2,247
• − Depreciation: −$3,069
• Taxable income: $12,508
• Est. tax owed @ 24.0%: −$3,002
• After-tax cash flow: $10,442/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 40/100 Moderate rehab

This property requires significant exterior and interior repairs, including painting and roof replacement, to improve its condition and value.

Repairs flagged

• Major exterior siding — Significant wear and tear
• Major roof — No visible damage, but age is implied
• Major flooring — No visible flooring, but age is implied
• Major interior walls/paint — No visible interior, but age is implied
• Major systems — No visible systems, but age is implied

Value-add opportunities

• Both paint exterior — Enhances curb appeal and value
• Both repair roof — Prevents water damage and increases value
• Both replace flooring — Improves living space and value
• Both paint interior — Enhances living space and value
• Both update systems — Improves functionality and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Significant wear and tear	Major	$15,000–50,000
roof · No visible damage, but age is implied	Major	$15,000–50,000
flooring · No visible flooring, but age is implied	Major	$15,000–50,000
interior walls/paint · No visible interior, but age is implied	Major	$15,000–50,000
systems · No visible systems, but age is implied	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Both paint exterior — Enhances curb appeal and value ↑
• Both repair roof — Prevents water damage and increases value ↑
• Both replace flooring — Improves living space and value ↑
• Both paint interior — Enhances living space and value ↑
• Both update systems — Improves functionality and 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: Bozeman Elementary
• NCES district ID: 3004560
• Math proficiency: 56% ▼ -5.00%
• Reading proficiency: 66% ▼ -4.00%
• Median HH income: $51,664
• Composite: 52.03/100
• National rank: #1635
• State rank: #7 of 116 in MT

Livability — Bozeman

• Score: 85/100
• State rank: #1
• US rank: #537

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Gallatin County · 108,510 people
• City population: 84,228
• Metro: Bozeman, MT
• Population (ZIP): 39,643
• Household income: $88,407
• Rent vs Own: 44.2% rent · 55.8% own
• Severe rent burden: 1884.0

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 (87%)
• Race & ethnicity: White 87% Two or more races 7% Hispanic / Latino 5% Asian 2%
• Common ancestry: Portuguese 7% Italian 4% Slovak 3%
• Foreign-born: 5% · Canada, China
• Languages at home: 94% English-only · Spanish 2% Chinese 1% Other Indo-European 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: ▼ -410.90%
• Current HPI: 276.5017
• Rent YoY: ▲ 0.20%
• Metro: Bozeman, 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

1 event — show timeline

• 2026-05-12 Listed $105,500 FSBO.com