832 Emma St

Butte-Silver Bow (balance), MT 59701

$149,000C-

2 bd · 1.0 ba · 886 sqft · Built 1890 · SingleFamily · Active · 9 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,300/mo
• Mortgage (P&I): −$781
• Tax + insurance: −$178
• HOA: −$0
• Vac / Maint / Mgmt: −$273
• Net cashflow: $68/mo
• Annual: $813/yr
• Cap rate: 6.84%
• Cash-on-cash: 1.95%
• DSCR: 1.09
• 1% rule: 0.87%
• Cash to close: $41,720

Investor read

• This is a 2-bed/1.0-bath single-family listed at $149k.
• At list price, monthly cash flow is $68 ($813/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 $130k (12.7% below list).
• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $130k (12.7% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Butte H S (town): math 24% / reading 50% proficiency, ranked #73 of 116 in MT (top 63%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: West Elementary School (math 32% / reading 40%, grade F, #194 of 293 statewide, top 66%, 473 students, 0% FRL); East Middle School (math 26% / reading 44%, grade F, #85 of 146 statewide, top 59%, 660 students, 0% FRL); Butte High School (math 24% / reading 50%, grade F, #48 of 132 statewide, top 37%, 1,317 students, 0% FRL).
• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+10.4%/yr); 325 active listings in the ZIP; 109 units permitted in Silver Bow County in 2024 (25 in 5+ unit buildings).
• Silver Bow County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 2 sale attempts 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.
• Cap rate 6.8% vs local median 2.9% in Butte-Silver Bow (balance) — 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.

Questions for listing agent

• Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.