2901 8th Ave N · Great Falls, MT 59401

$580,000

33 bd · 16.5 ba · 3,510 sqft · MultiFamily public records

Built 1961 7,492 sqft lot

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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
• Rent growth +4.1/5.0
• Livability +3.9/5.0
• Schools +2.8/10.0
• 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: 11 units. confirmed

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.

Listing remarks MLS

4 PLEX!!!Calling all investors, house hackers, and real estate minded folks alike! Here is your opportunity to purchase a turn key investment! This brick beauty sits on a full corner lot and has a detached oversized 2 car garage. The current owner has made numerous upgrades to include a new central boiler! Seller will respond to all offers by Sunday July 2nd at 5pm. Seller reserves the right to accept an offer at any time. For any questions or to schedule a showing please call Michael Bates at 406-788-6024 or your real estate professional.

Key facts

• 7,492 sq ft lot
• 2 garage spots
• Built 1961

What this means for you Summary

Snapshot

• This is a 11 × 3-bed/?-bath units multifamily listed at $580k.

Deal economics

• At list price, monthly cash flow is $6k ($74k/yr) — positive. Per door: $560/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($12k rent vs $580k).
• Cap rate 19.0% vs local median 3.5% in Great Falls — 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 78/100 on livability (#19 in MT, #2,473 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, housing A+; Watch: schools C-, employment C-, crime F.
• Great Falls H S (urban): math 27% / reading 39% proficiency, ranked #79 of 116 in MT (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+6.5%/yr); 49 active listings in the ZIP; 223 units permitted in Cascade County in 2024 (37 in 5+ unit buildings).
• At $12,331/mo this rent would consume 268% of the median local household income ($55k/yr) (locally 531% 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 $4k of loan paydown is wiped out by about $17k of value loss. Plan a longer hold.
• Cascade County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 6.5% rent growth), your $162k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 6y 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.

Recommended offer $580,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1961 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Crime grade is F 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 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: 2.13% ✓
• Cap rate: 19.03%
• Cash-on-cash: 45.50%
• DSCR: 3.02
• GRM: 3.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.48% rent growth · sell at horizon

5-year hold

• IRR: 46.4%
• Equity multiple: 3.11×
• Total profit: $342,842
• Equity at exit: $86,480

10-year hold

• IRR: 53.6%
• Equity multiple: 7.16×
• Total profit: $1,000,255
• Equity at exit: $50,148

Cash invested: $162,400 (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 59401

• Rents YoY: 6.5%
• Active inventory: 49
• Price-to-rent: 43.1×

Monthly cashflow live

• Estimated rent: $12,331 medium
• Mortgage (P&I): −$3,042
• Tax from tax record: −$300 /mo · $3,600/yr
• Insurance: −$242
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,590
• Net cashflow: $6,158

Break-even live

Break-even rent $4,536

Max offer price $580,000

Occupancy floor 45%

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

Units	Beds	Baths	Est. rent
▸ 11× units	3	—	$12,331
Total (11 units)			$12,331

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: $145,000
• Closing costs: $17,400
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-05-05
   historical
2. 2026-05-05
   listed $580,000
3. 2023-07-28
   soldstatus Closed 545-char remark

   Show marketing remark (545 chars)

   4 PLEX!!!Calling all investors, house hackers, and real estate minded folks alike! Here is your opportunity to purchase a turn key investment! This brick beauty sits on a full corner lot and has a detached oversized 2 car garage. The current owner has made numerous upgrades to include a new central boiler! Seller will respond to all offers by Sunday July 2nd at 5pm. Seller reserves the right to accept an offer at any time. For any questions or to schedule a showing please call Michael Bates at 406-788-6024 or your real estate professional.

4. 2023-07-28
   soldstatus

   Show marketing remark (545 chars)

   4 PLEX!!!Calling all investors, house hackers, and real estate minded folks alike! Here is your opportunity to purchase a turn key investment! This brick beauty sits on a full corner lot and has a detached oversized 2 car garage. The current owner has made numerous upgrades to include a new central boiler! Seller will respond to all offers by Sunday July 2nd at 5pm. Seller reserves the right to accept an offer at any time. For any questions or to schedule a showing please call Michael Bates at 406-788-6024 or your real estate professional.

5. 2023-06-30
   historical Active Under Contract 545-char remark

   Show marketing remark (545 chars)

   4 PLEX!!!Calling all investors, house hackers, and real estate minded folks alike! Here is your opportunity to purchase a turn key investment! This brick beauty sits on a full corner lot and has a detached oversized 2 car garage. The current owner has made numerous upgrades to include a new central boiler! Seller will respond to all offers by Sunday July 2nd at 5pm. Seller reserves the right to accept an offer at any time. For any questions or to schedule a showing please call Michael Bates at 406-788-6024 or your real estate professional.

6. 2023-06-30
   status Pending 545-char remark

   Show marketing remark (545 chars)

   4 PLEX!!!Calling all investors, house hackers, and real estate minded folks alike! Here is your opportunity to purchase a turn key investment! This brick beauty sits on a full corner lot and has a detached oversized 2 car garage. The current owner has made numerous upgrades to include a new central boiler! Seller will respond to all offers by Sunday July 2nd at 5pm. Seller reserves the right to accept an offer at any time. For any questions or to schedule a showing please call Michael Bates at 406-788-6024 or your real estate professional.

7. 2023-04-17
   listed $462,000 Active 545-char remark

   Show marketing remark (545 chars)

   4 PLEX!!!Calling all investors, house hackers, and real estate minded folks alike! Here is your opportunity to purchase a turn key investment! This brick beauty sits on a full corner lot and has a detached oversized 2 car garage. The current owner has made numerous upgrades to include a new central boiler! Seller will respond to all offers by Sunday July 2nd at 5pm. Seller reserves the right to accept an offer at any time. For any questions or to schedule a showing please call Michael Bates at 406-788-6024 or your real estate professional.

8. 2022-09-01
   price $1,000
9. 2020-05-27
   soldstatus 183-char remark

   Show marketing remark (183 chars)

   Beautiful 4 Plex in a great location. All units are 2 bedroom/ 1 bath. Property features new roofs, common laundry areas, sprinkler system for the lawn and a heated double car garage!

10. 2020-03-26
    listed $274,900 183-char remark

    Show marketing remark (183 chars)

    Beautiful 4 Plex in a great location. All units are 2 bedroom/ 1 bath. Property features new roofs, common laundry areas, sprinkler system for the lawn and a heated double car garage!

11. 1999-05-28
    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: $3,600 · $300/mo
• Projected year-2 tax: $4,872 · $406/mo
• Expected delta: +$1,272/yr (+$106/mo · 35.3%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥91°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 5/10 Major 8 unhealthy d/yr today · 9 by 30 yrs out

Taxation est. · year 1

• Rental income: $147,972
• − Mortgage interest: −$32,489
• − Property taxes: −$3,600
• − Insurance: −$2,900
• − Repairs & maintenance: −$11,838
• − Management: −$11,838
• − Depreciation: −$16,873
• Taxable income: $68,434
• Est. tax owed @ 24.0%: −$16,424
• After-tax cash flow: $57,474/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: Great Falls H S
• NCES district ID: 3013050
• Math proficiency: 27% ▼ -6.00%
• Reading proficiency: 39% ▼ -3.00%
• Median HH income: $43,586
• Composite: 28.03/100
• National rank: #6846
• State rank: #79 of 116 in MT

Livability — Great Falls

• Score: 78/100
• State rank: #19
• US rank: #2473

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Great Falls, MT
• County: Cascade County · 75,427 people
• City population: 75,427
• Metro: Great Falls, MT
• Population (ZIP): 13,255
• Household income: $55,299
• Rent vs Own: 44.6% rent · 55.4% own
• Severe rent burden: 531.0

Population outlook (Cascade County) Hauer SSP2

• Today (2025): 81,936 people
• By 2030: 81,376 · -0.7%
• By 2040: 79,435 · -3.1%
• By 2050: 77,906 · -4.9%
• By 2075: 78,595 · -4.1%
• By 2100: 79,997 · -2.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Two or more races 7% Native American 7% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 4% Puerto Rican 1%
• Common ancestry: Portuguese 7% Italian 4% Slovak 2%
• Foreign-born: 1% · China, Canada
• Languages at home: 96% English-only · Spanish 1% Chinese 1%

Political lean MEDSL · Cascade

• 2024 margin: Strong R (+22.3) · D 37.3% · R 59.6% · Other 3.0%
• 2008→2024 swing: -24.6pp toward R · 2008: 2.3pp · 2024: -22.3pp
• All cycles: 2024: R+22.3 2020: R+19.7 2016: R+21.6 2012: R+9.1 2008: D+2.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -119.63%
• Current HPI: 198.2599
• Rent YoY: ▲ 6.48%
• Metro: Great Falls, 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

+111.0% since first listed

11 events — show timeline

• 2026-05-05 Listed $580,000 MRMLS
• 2026-05-05 Delisted — MRMLS
• 2023-07-28 Sold (Public Records) — Public Records
• 2023-07-28 Sold (MLS) — MRMLS
• 2023-06-30 Contingent — MRMLS
• 2023-06-30 Pending — MRMLS
• 2023-04-17 Listed $462,000 MRMLS
• 2022-09-01 Price Changed $1,000 RENT.
• 2020-05-27 Sold (MLS) — MRMLS
• 2020-03-26 Listed $274,900 MRMLS
• 1999-05-28 Sold (Public Records) — Public Records

Property tax history

+3.9%/yr

Latest (2025): $3,600 · -2.8% YoY. Source: county tax records.