15 Spotted Fawn Ct · Big Sky, MT 59716

$975,000

2 bd · 2.0 ba · 1,844 sqft · Condo public records · 336 Days on market

Built 2004 $1246/mo HOA · 25% of rent ↓ 25% since listing

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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).

• Appreciation +9.2/10.0
• ARV discount +7.5/15.0
• Schools +4.5/10.0
• Livability +3.3/5.0
• Cash flow +3.0/30.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.1/10.0
• DSCR +0.0/10.0

Listing remarks MLS

Discover 15 Spotted Fawn Court. This delightful condo is ideally positioned in the sought after Deer Run Condos in the Meadow of Big Sky, Montana. The well cared for condo features beautiful, reclaimed wood accents, and offers a seamless blend of comfort, charm, and convenience. With 3 bedrooms plus loft space converted to an enclosed sleeping space with closet cabinetry (sleeps like a 4 bedroom) and 2 bathrooms, there is spacefor everyone. The generously sized residence is spread over 3 levels - including an attached, oversized garage, with fantastic storage solutions - this property ensures both functionality and flexibility to suit your needs. With an attractive price tag, this inviting condo presents a compelling opportunity to own in Big Sky while still delivering easy access to Big Sky Town Center and beyond. Embrace an active Big Sky lifestyle with convenient access to nearby biking and hiking trails in the summer and cross country and alpine ski trails in the winter. Nestled in the back row of the complex, this lovely property provides a tranquil setting, with the forested hillside as your backdrop. Are you ready to experience the adventure, access, and freedom that define the mountain lifestyle at 15 Spotted Fawn Court? Arrange a private showing today. Important Notie: This Property is on Big Sky Community Water Sewer System!

Key facts

• Tranquil setting
• $1,246 HOA
• Garage

Tags

• RECLAIMED WOOD ACCENTS
• ENCLOSED SLEEPING SPACE
• ATTACHED OVERSIZED GARAGE
• FANTASTIC STORAGE SOLUTIONS
• TRANQUIL SETTING
• FORESTED HILLSIDE BACKDROP

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $975k.

Deal economics

• At list price, monthly cash flow is $-3k ($-38k/yr) — negative.
• To cash-flow at today's rent, offer at most $420k (57.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $500k (48.7% below list).
• Recommended offer: $420k (57.0% 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: health & safety C-, amenities F, commute D-.
• 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.
• Zoned schools: Ophir Elementary School (math 52% / reading 47%, grade D, #82 of 293 statewide, top 33%, 216 students, 0% FRL); Ophir 7-8 (math 37% / reading 57%, grade D+, #37 of 146 statewide, top 26%, 98 students, 0% FRL); Lone Peak High School (math 70% / reading 70%, grade B, #2 of 132 statewide, top 1%, 118 students, 0% FRL) — zoned schools at 0% FRL track the district average.
• 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 $88k of equity ($7k loan paydown + $82k 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 ~$141k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 336 days — a 12% lower offer ($858k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y ago; this cycle's ask has dropped $124k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 25% of rent.

Recommended offer $419,692 (57.0% 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 336 days. Have you received any prior offers? Is the seller open to a 57% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 0.51% ✗
• Cap rate: 2.42%
• Cash-on-cash: -13.82%
• DSCR: 0.39
• GRM: 16.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 10.7%
• Equity multiple: 1.82×
• Total profit: $224,732
• Equity at exit: $765,205

10-year hold

• IRR: 11.6%
• Equity multiple: 3.94×
• Total profit: $802,795
• Equity at exit: $1,542,877

Cash invested: $273,000 (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: 16.2×

Monthly cashflow live

• Estimated rent: $5,000 medium
• Mortgage (P&I): −$5,113
• Tax from tax record: −$328 /mo · $3,939/yr
• Insurance: −$406
• HOA: −$1,246
• Vacancy / Maint / Mgmt: −$1,050
• Net cashflow: $-3,143

Break-even live

Break-even rent $8,979

Max offer price $419,692

Occupancy floor —

Sensitivity live

Price	-10% $-2,592	-5% $-2,868	+0% $-3,143	+5% $-3,419	+10% $-3,695
Rent	-10% $-3,538	-5% $-3,341	+0% $-3,143	+5% $-2,946	+10% $-2,748
Rate	-1.0pp $-2,652	-0.5pp $-2,895	base $-3,143	+0.5pp $-3,396	+1.0pp $-3,653

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: $243,750
• Closing costs: $29,250
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
221 Candlelight Meadow Dr Big Sky, MT	3.0	3.0	2135	$5,000	$2.34	45d	1	0.70mi

HOA detail condo

• Monthly dues: $1,246 · $14,952/yr
• Likely covers: watersewer
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 13 events

1. 2026-02-08
   price $975,000 1356-char remark

   Show marketing remark (1356 chars)

   Discover 15 Spotted Fawn Court. This delightful condo is ideally positioned in the sought after Deer Run Condos in the Meadow of Big Sky, Montana. The well cared for condo features beautiful, reclaimed wood accents, and offers a seamless blend of comfort, charm, and convenience. With 3 bedrooms plus loft space converted to an enclosed sleeping space with closet cabinetry (sleeps like a 4 bedroom) and 2 bathrooms, there is spacefor everyone. The generously sized residence is spread over 3 levels - including an attached, oversized garage, with fantastic storage solutions - this property ensures both functionality and flexibility to suit your needs. With an attractive price tag, this inviting condo presents a compelling opportunity to own in Big Sky while still delivering easy access to Big Sky Town Center and beyond. Embrace an active Big Sky lifestyle with convenient access to nearby biking and hiking trails in the summer and cross country and alpine ski trails in the winter. Nestled in the back row of the complex, this lovely property provides a tranquil setting, with the forested hillside as your backdrop. Are you ready to experience the adventure, access, and freedom that define the mountain lifestyle at 15 Spotted Fawn Court? Arrange a private showing today. Important Notie: This Property is on Big Sky Community Water Sewer System!

2. 2025-12-06
   price $999,000 1356-char remark

   Show marketing remark (1356 chars)

   Discover 15 Spotted Fawn Court. This delightful condo is ideally positioned in the sought after Deer Run Condos in the Meadow of Big Sky, Montana. The well cared for condo features beautiful, reclaimed wood accents, and offers a seamless blend of comfort, charm, and convenience. With 3 bedrooms plus loft space converted to an enclosed sleeping space with closet cabinetry (sleeps like a 4 bedroom) and 2 bathrooms, there is spacefor everyone. The generously sized residence is spread over 3 levels - including an attached, oversized garage, with fantastic storage solutions - this property ensures both functionality and flexibility to suit your needs. With an attractive price tag, this inviting condo presents a compelling opportunity to own in Big Sky while still delivering easy access to Big Sky Town Center and beyond. Embrace an active Big Sky lifestyle with convenient access to nearby biking and hiking trails in the summer and cross country and alpine ski trails in the winter. Nestled in the back row of the complex, this lovely property provides a tranquil setting, with the forested hillside as your backdrop. Are you ready to experience the adventure, access, and freedom that define the mountain lifestyle at 15 Spotted Fawn Court? Arrange a private showing today. Important Notie: This Property is on Big Sky Community Water Sewer System!

3. 2025-09-13
   price $1,049,000 1356-char remark

   Show marketing remark (1356 chars)

   Discover 15 Spotted Fawn Court. This delightful condo is ideally positioned in the sought after Deer Run Condos in the Meadow of Big Sky, Montana. The well cared for condo features beautiful, reclaimed wood accents, and offers a seamless blend of comfort, charm, and convenience. With 3 bedrooms plus loft space converted to an enclosed sleeping space with closet cabinetry (sleeps like a 4 bedroom) and 2 bathrooms, there is spacefor everyone. The generously sized residence is spread over 3 levels - including an attached, oversized garage, with fantastic storage solutions - this property ensures both functionality and flexibility to suit your needs. With an attractive price tag, this inviting condo presents a compelling opportunity to own in Big Sky while still delivering easy access to Big Sky Town Center and beyond. Embrace an active Big Sky lifestyle with convenient access to nearby biking and hiking trails in the summer and cross country and alpine ski trails in the winter. Nestled in the back row of the complex, this lovely property provides a tranquil setting, with the forested hillside as your backdrop. Are you ready to experience the adventure, access, and freedom that define the mountain lifestyle at 15 Spotted Fawn Court? Arrange a private showing today. Important Notie: This Property is on Big Sky Community Water Sewer System!

4. 2025-06-26
   listed $1,099,000 Active 1356-char remark

   Show marketing remark (1356 chars)

   Discover 15 Spotted Fawn Court. This delightful condo is ideally positioned in the sought after Deer Run Condos in the Meadow of Big Sky, Montana. The well cared for condo features beautiful, reclaimed wood accents, and offers a seamless blend of comfort, charm, and convenience. With 3 bedrooms plus loft space converted to an enclosed sleeping space with closet cabinetry (sleeps like a 4 bedroom) and 2 bathrooms, there is spacefor everyone. The generously sized residence is spread over 3 levels - including an attached, oversized garage, with fantastic storage solutions - this property ensures both functionality and flexibility to suit your needs. With an attractive price tag, this inviting condo presents a compelling opportunity to own in Big Sky while still delivering easy access to Big Sky Town Center and beyond. Embrace an active Big Sky lifestyle with convenient access to nearby biking and hiking trails in the summer and cross country and alpine ski trails in the winter. Nestled in the back row of the complex, this lovely property provides a tranquil setting, with the forested hillside as your backdrop. Are you ready to experience the adventure, access, and freedom that define the mountain lifestyle at 15 Spotted Fawn Court? Arrange a private showing today. Important Notie: This Property is on Big Sky Community Water Sewer System!

5. 2025-03-19
   price $1,150,000
6. 2024-12-30
   price $1,199,000
7. 2024-09-05
   listed $1,249,000 Active
8. 2024-07-29
   listed $1,249,000 Active
9. 2024-04-22
   price $1,249,000
10. 2024-03-05
    listed $1,299,000 Active
11. 2020-04-28
    soldstatus
12. 2015-05-07
    soldstatus
13. 2008-01-04
    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: $3,939 · $328/mo
• Projected year-2 tax: $8,190 · $682/mo
• Expected delta: +$4,251/yr (+$354/mo · 107.9%)

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

Climate risk First Street

• 🌡 Heat 1/10 Low
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $60,000
• − Mortgage interest: −$54,615
• − Property taxes: −$3,939
• − Insurance: −$4,875
• − Repairs & maintenance: −$4,800
• − Management: −$4,800
• − HOA: −$14,952
• − Depreciation: −$28,364
• Taxable loss: −$56,344
• Est. tax savings @ 24.0%: +$13,523
• After-tax cash flow: $-24,199/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

-24.9% since first listed

13 events — show timeline

• 2026-02-08 Price Changed $975,000 BSCMLS
• 2025-12-06 Price Changed $999,000 BSCMLS
• 2025-09-13 Price Changed $1,049,000 BSCMLS
• 2025-06-26 Listed $1,099,000 BSCMLS
• 2025-03-19 Price Changed $1,150,000 BSCMLS
• 2024-12-30 Price Changed $1,199,000 BSCMLS
• 2024-09-05 Listed $1,249,000 BSCMLS
• 2024-07-29 Listed $1,249,000 BSCMLS
• 2024-04-22 Price Changed $1,249,000 BSCMLS
• 2024-03-05 Listed $1,299,000 BSCMLS
• 2020-04-28 Sold (Public Records) — Public Records
• 2015-05-07 Sold (Public Records) — Public Records
• 2008-01-04 Sold (Public Records) — Public Records

Property tax history

+3.0%/yr

Latest (2025): $3,939 · +9.8% YoY. Source: county tax records.