110 Independence Way

Indian Springs, MT 59917

$79,000C

2 bd · 1.0 ba · 960 sqft · Built 2024 · Other · Active · 150 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,096/mo
• Mortgage (P&I): −$414
• Tax + insurance: −$311
• HOA: −$0
• Vac / Maint / Mgmt: −$230
• Net cashflow: $140/mo
• Annual: $1,684/yr
• Cap rate: 8.42%
• Cash-on-cash: 7.61%
• DSCR: 1.34
• 1% rule: 1.39%
• Cash to close: $22,120

Investor read

• This is a 2-bed/1.0-bath other listed at $79k.
• At list price, monthly cash flow is $140 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $79k).
• It's been on market 150 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $546 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 38/100 on livability (#360 in MT) — a limited-amenity area; tenant pool skews transient or value-seeking. Strengths: cost of living A+, crime A; Watch: amenities F, commute F, employment F.
• Eureka Elementary (rural): math 32% / reading 47% proficiency, ranked #62 of 116 in MT (top 53%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Eureka Elementary School (math 42% / reading 42%, grade F, #135 of 293 statewide, top 52%, 261 students, 0% FRL); Eureka Middle School 5-8 (math 28% / reading 49%, grade F, #73 of 146 statewide, top 50%, 236 students, 0% FRL); Lincoln Co High School (math 24% / reading 34%, grade F, #70 of 132 statewide, top 55%, 306 students, 0% FRL) — zoned schools average 0% FRL vs 43% district-wide (43 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: property tax is 4.2% of price.
• Market conditions: 203 active listings in the ZIP; 18 units permitted in Lincoln County in 2024 (0 in 5+ unit buildings).
• Lincoln County population projected at -33% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Questions for listing agent

• It's been on market 150 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.
• 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.