2721 Louise Ln · Billings, MT 59102

$309,000

4 bd · 2.0 ba · 2,157 sqft · SingleFamily public records · 179 Days on market

Built 1949 10,163 sqft lot Est $377k · 18% under ↓ 12% 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).

• ARV discount +15.0/15.0
• Cash flow +14.2/30.0
• DSCR +4.3/10.0
• Livability +4.0/5.0
• Rent growth +3.8/5.0
• Schools +3.2/10.0
• 1% rule +2.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Key facts

• Oversized yard
• Fenced backyard
• 0.23 acre lot

Tags

• OVERSIZED YARD
• FENCED BACKYARD

Property features AI

Exterior

• Parking: Attached 2-car garage; 2 covered parking spaces
• Utilities: Public water; Public sewer
• Home design: Single family residence; Two-story; Located in the Snyder subdivision; Suburban neighborhood residential zoning
• Construction: Wood siding exterior; Asphalt roof
• Exterior features: Fenced yard; Landscaped lot

Interior

• Kitchen: Dishwasher; Microwave; Oven; Range / Cooktop; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Bathrooms: 2 full bathrooms total; 1 bathroom on the main level
• Heating & cooling: Window unit(s) for cooling; Has heating (other type)
• Interior features: Fireplace (1); Crawl space basement

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $309k.

Deal economics

• At list price, monthly cash flow is $53 ($635/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $240k (22.2% below list).
• Recommended offer: $240k (22.2% below list) — sets the bar for 1% rule.
• Cap rate 6.5% 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: 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.
• Zoned schools: Poly Drive School (math 52% / reading 42%, grade D-, #101 of 293 statewide, top 39%, 305 students, 0% FRL); Lewis & Clark Middle School (math 26% / reading 47%, grade F, #82 of 146 statewide, top 57%, 667 students, 0% FRL); Billings Sr High School (math 25% / reading 43%, grade F, #55 of 132 statewide, top 41%, 1,739 students, 0% FRL).
• Market conditions: Rents rising fast (+5.0%/yr); 197 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,401 units permitted in Yellowstone County in 2024 (281 in 5+ unit buildings).
• This rent runs 38% of the median local income ($76k/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 $2k of loan paydown is wiped out by about $9k 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.

Negotiation context

• It's been on market 179 days — a 12% lower offer ($272k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $51k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $240,452 (22.2% below list)

Questions for the listing agent

1. It's been on market 179 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
2. Built in 1949 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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 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: 0.78% ✗
• Cap rate: 6.50%
• Cash-on-cash: 0.73%
• DSCR: 1.03
• GRM: 10.7

CMA / ARV

• ARV (on-the-fly): $377,475
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2713 Downer Ln	0.31mi	5/2.0 (+1)	2,284 (+6%)	0mo	$399,900	$175	70
2607 Beartooth Dr	0.51mi	3/2.0 (-1)	2,204 (+2%)	1mo	$372,500	$169	67
1907 Patricia Ln	0.61mi	3/2.0 (-1)	2,160 (+0%)	3mo	$379,900	$176	63
2220 Lyndale Ln	0.30mi	4/2.0	1,879 (-13%)	5mo	$349,900	$186	60
2411 Granite Ave	0.45mi	3/2.0 (-1)	2,054 (-5%)	8mo	$360,000	$175	60
2215 Patricia Ln	0.33mi	3/2.0 (-1)	1,946 (-10%)	6mo	$314,900	$162	58
2021 Glendale Lane Ln	0.47mi	3/2.0 (-1)	1,972 (-9%)	2mo	$337,000	$171	57
2103 Poly Dr	0.72mi	4/2.0	2,272 (+5%)	2mo	$425,000	$187	56
1817 Rehberg Lane Ln	0.68mi	5/2.0 (+1)	2,016 (-6%)	2mo	$319,500	$158	51
2002 Glendale Ln	0.51mi	3/2.0 (-1)	1,865 (-14%)	0mo	$369,000	$198	48
1824 Patricia Ln	0.64mi	3/2.0 (-1)	2,374 (+10%)	6mo	$369,900	$156	43
1815 28th St W	0.62mi	4/3.0	2,472 (+15%)	7mo	$469,500	$190	37

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -13.2%
• Equity multiple: 0.52×
• Total profit: $-41,833
• Equity at exit: $46,073

10-year hold

• IRR: -1.8%
• Equity multiple: 0.87×
• Total profit: $-11,230
• Equity at exit: $26,717

Cash invested: $86,520 (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: 10.7×

Monthly cashflow live

• Estimated rent: $2,405 medium
• Mortgage (P&I): −$1,620
• Tax from tax record: −$97 /mo · $1,170/yr
• Insurance: −$129
• HOA: −$0
• Vacancy / Maint / Mgmt: −$505
• Net cashflow: $53

Break-even live

Break-even rent $2,338

Max offer price $309,000

Occupancy floor 93%

Sensitivity live

Price	-10% $228	-5% $140	+0% $53	+5% $-35	+10% $-122
Rent	-10% $-137	-5% $-42	+0% $53	+5% $148	+10% $243
Rate	-1.0pp $209	-0.5pp $131	base $53	+0.5pp $-27	+1.0pp $-109

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: $77,250
• Closing costs: $9,270
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1704 Wellington Pl Billings, MT	3.0	3.0	2426	$2,395	$0.99	15d	1	0.91mi
3635 Harvest Time Ln Billings, MT	2.0–3.0	2.5–3.0	1501	$2,850	$1.90	15d	10	1.18mi
1126 Lendel Ln Billings, MT	3.0	2.0	2020	$2,300	$1.14	15d	1	1.31mi

Listing history 26 events

1. 2026-06-21
   days on market $309,000 Active 179 DOM
2. 2026-06-19
   days on market $309,000 Active 177 DOM
3. 2026-06-18
   days on market $309,000 Active 176 DOM
4. 2026-06-17
   days on market $309,000 Active 175 DOM
5. 2026-06-16
   days on market $309,000 Active 174 DOM
6. 2026-06-15
   days on market $309,000 Active 173 DOM
7. 2026-06-14
   days on market $309,000 Active 171 DOM
8. 2026-06-13
   days on market $309,000 Active 170 DOM
9. 2026-06-10
   days on market $309,000 Active 168 DOM
10. 2026-06-09
    days on market $309,000 Active 167 DOM
11. 2026-06-08
    days on market $309,000 Active 166 DOM
12. 2026-06-07
    days on market $309,000 Active 165 DOM
13. 2026-06-05
    days on market $309,000 Active 162 DOM
14. 2026-06-02
    days on market $309,000 Active 160 DOM
15. 2026-06-01
    days on market $309,000 Active 159 DOM
16. 2026-05-31
    days on market $309,000 Active 158 DOM
17. 2026-05-30
    days on market $309,000 Active 157 DOM
18. 2026-05-09
    price $315,000
19. 2026-04-15
    price $339,000
20. 2026-04-08
    status Active
21. 2026-03-25
    historical Active Under Contract
22. 2026-02-23
    status Active
23. 2026-02-11
    historical Active Under Contract
24. 2026-01-15
    price $345,000
25. 2025-12-22
    listed $360,000 Active
26. 2002-05-09
    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: $1,170 · $97/mo
• Projected year-2 tax: $2,596 · $216/mo
• Expected delta: +$1,426/yr (+$119/mo · 121.9%)

ⓘ 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 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: $28,854
• − Mortgage interest: −$17,309
• − Property taxes: −$1,170
• − Insurance: −$1,545
• − Repairs & maintenance: −$2,308
• − Management: −$2,308
• − Depreciation: −$8,989
• Taxable loss: −$4,775
• Est. tax savings @ 24.0%: +$1,146
• After-tax cash flow: $1,781/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: 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

-12.5% since first listed

9 events — show timeline

• 2026-05-09 Price Changed $315,000 BMTMLS
• 2026-04-15 Price Changed $339,000 BMTMLS
• 2026-04-08 Relisted — BMTMLS
• 2026-03-25 Contingent — BMTMLS
• 2026-02-23 Relisted — BMTMLS
• 2026-02-11 Contingent — BMTMLS
• 2026-01-15 Price Changed $345,000 BMTMLS
• 2025-12-22 Listed $360,000 BMTMLS
• 2002-05-09 Sold (Public Records) — Public Records

Property tax history

-3.3%/yr

Latest (2025): $1,170 · -59.3% YoY. Source: county tax records.