3969 Teal St · Billings, MT 59102

$117,500

3 bd · 2.0 ba · 1,512 sqft · Other · 38 Days on market

Built 2005 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
• Livability +4.0/5.0
• Rent growth +3.8/5.0
• Schools +3.2/10.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Key facts

• Double sinks
• Fully loaded kitchen
• Large bathroom

Tags

• FULLY LOADED KITCHEN
• LARGE LIVING SPACES
• MASTER BEDROOM SUITE
• WALK IN CLOSET
• LARGE BATHROOM
• DOUBLE SINKS

Property features AI

Exterior

• Home design: Built in 2005; Single-family property
• Construction: Construction completed in 2005
• Exterior features: Located in the West End subdivision

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $118k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $676 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $118k).
• Recommended offer: $114k (3.0% below list) — sets the bar for market timing.
• Cap rate 13.2% vs local median 3.0% in Billings — 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 80/100 on livability (#10 in MT, #1,830 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+; Watch: schools D+, crime F.
• Billings H S (urban): math 29% / reading 45% proficiency, ranked #69 of 116 in MT (top 60%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+5.0%/yr); 197 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,401 units permitted in Yellowstone County in 2024 (281 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $812 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Yellowstone County population projected at +26% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 5.0% rent growth), your $33k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($114k) is reasonable based on typical stale-listing flexibility.

Recommended offer $113,975 (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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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 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: 1.60% ✓
• Cap rate: 13.20%
• Cash-on-cash: 24.66%
• DSCR: 2.10
• GRM: 5.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.03% rent growth · sell at horizon

5-year hold

• IRR: 20.3%
• Equity multiple: 1.85×
• Total profit: $27,969
• Equity at exit: $17,520

10-year hold

• IRR: 29.9%
• Equity multiple: 3.94×
• Total profit: $96,700
• Equity at exit: $10,159

Cash invested: $32,900 (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 59102

• Rents YoY: 5.0%
• Active inventory: 197
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $1,884 high
• Mortgage (P&I): −$616
• Tax est. 1.5%: −$147 /mo · $1,762/yr
• Insurance: −$49
• HOA: −$0
• Vacancy / Maint / Mgmt: −$396
• Net cashflow: $676

Break-even live

Break-even rent $1,028

Max offer price $117,500

Occupancy floor 59%

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: $29,375
• Closing costs: $3,525
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3900 Victory Cir Billings, MT	2.0	1.0	966	$1,360	$1.41	13d	21	0.30mi
115 Shiloh Rd Billings, MT	1.0–3.0	1.0–2.0	1155	$2,440	$2.11	13d	9	0.43mi
3900 Olympic Blvd Billings, MT	2.0–3.0	1.0–2.0	960	$1,695	$1.76	13d	5	0.59mi
501 S 44th St W Billings, MT	1.0–3.0	1.0–2.0	1024	$2,250	$2.20	13d	7	0.61mi
4427 Altay Dr Billings, MT	3.0	1.0–2.0	945	$2,450	$2.59	13d	18	0.69mi
611 S 44th St W Billings, MT	3.0	2.0	1370	$2,150	$1.57	13d	1	0.71mi
610 S 44th St W Billings, MT	1.0–3.0	1.0–2.0	1095	$2,015	$1.84	13d	9	0.72mi
371 Cape Cod Dr Billings, MT	2.0	1.5	1175	$1,495	$1.27	21d	1	0.94mi
353 Cape Cod Dr Unit 3 Billings, MT	2.0	1.0	1056	$1,295	$1.23	13d	1	0.95mi
3040 Central Ave Billings, MT	3.0	1.0–2.0	887	$1,867	$2.10	13d	25	1.18mi
218 Brookshire Blvd Billings, MT	2.0	2.0	1128	$1,445	$1.28	21d	1	1.38mi
1550 Country Manor Blvd Billings, MT	1.0–3.0	1.0–2.0	1086	$1,820	$1.68	13d	10	1.46mi

Listing history 17 events

1. 2026-06-19
   days on market $117,500 Active 38 DOM
2. 2026-06-18
   days on market $117,500 Active 37 DOM
3. 2026-06-17
   days on market $117,500 Active 36 DOM
4. 2026-06-16
   days on market $117,500 Active 35 DOM
5. 2026-06-15
   days on market $117,500 Active 34 DOM
6. 2026-06-14
   days on market $117,500 Active 32 DOM
7. 2026-06-13
   days on market $117,500 Active 31 DOM
8. 2026-06-10
   days on market $117,500 Active 29 DOM
9. 2026-06-09
   days on market $117,500 Active 28 DOM
10. 2026-06-08
    days on market $117,500 Active 27 DOM
11. 2026-06-07
    days on market $117,500 Active 26 DOM
12. 2026-06-05
    days on market $117,500 Active 23 DOM
13. 2026-06-02
    days on market $117,500 Active 21 DOM
14. 2026-06-01
    days on market $117,500 Active 20 DOM
15. 2026-05-31
    days on market $117,500 Active 19 DOM
16. 2026-05-30
    days on market $117,500 Active 18 DOM
17. 2026-05-12
    listed $117,500 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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥95°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,603
• − Mortgage interest: −$6,582
• − Property taxes: −$1,762
• − Insurance: −$588
• − Repairs & maintenance: −$1,808
• − Management: −$1,808
• − Depreciation: −$3,418
• Taxable income: $6,636
• Est. tax owed @ 24.0%: −$1,593
• After-tax cash flow: $6,519/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

The home requires moderate repairs and maintenance to improve its curb appeal and overall value.

Repairs flagged

• Moderate Exterior siding — Weathered appearance
• Moderate Roof — May need inspection

Value-add opportunities

• Both Paint exterior walls — Enhances curb appeal and value
• Both Replace exterior siding — Improves appearance and value
• Both Inspect and repair roof — Ensures structural integrity and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior siding · Weathered appearance	Moderate	$3,000–15,000
Roof · May need inspection	Moderate	$3,000–15,000
Total estimated repair cost · 2 items		$6,000–30,000

Value-add ROI direction

• Both Paint exterior walls — Enhances curb appeal and value ↑
• Both Replace exterior siding — Improves appearance and value ↑
• Both Inspect and repair roof — Ensures structural integrity 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: Billings H S
• NCES district ID: 3003900
• Math proficiency: 29% ▼ -4.00%
• Reading proficiency: 45% ▲ 2.00%
• Median HH income: $49,863
• Composite: 31.93/100
• National rank: #5848
• State rank: #69 of 116 in MT

Livability — Billings

• Score: 80/100
• State rank: #10
• US rank: #1830

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Billings, MT
• County: Yellowstone County · 159,426 people
• City population: 147,124
• Metro: Billings, MT
• Population (ZIP): 47,977
• Household income: $76,141
• Rent vs Own: 31.5% rent · 68.5% own
• Severe rent burden: 1584.0

Population outlook (Yellowstone County) Hauer SSP2

• Today (2025): 176,227 people
• By 2030: 185,619 · +5.3%
• By 2040: 203,543 · +15.5%
• By 2050: 221,100 · +25.5%
• By 2075: 266,931 · +51.5%
• By 2100: 301,141 · +70.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Hispanic / Latino 6% Two or more races 5% Native American 2% Asian 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Portuguese 10% Slovak 3% Lithuanian 3%
• Foreign-born: 2% · Canada, Vietnam
• Languages at home: 96% English-only · Spanish 2% Vietnamese 1%

Political lean MEDSL · Yellowstone

• 2024 margin: Strong R (+27.1) · D 34.9% · R 62.0% · Other 3.1%
• 2008→2024 swing: -20.8pp toward R · 2008: -6.3pp · 2024: -27.1pp
• All cycles: 2024: R+27.1 2020: R+24.0 2016: R+27.1 2012: R+20.6 2008: R+6.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -364.20%
• Current HPI: 205.0915
• Rent YoY: ▲ 5.03%
• Metro: Billings, 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 $117,500 FSBO.com