516 S Caravan St · Missoula, MT 59808

$128,000

3 bd · 2.0 ba · 1,216 sqft · Manufactured · 79 Days on market

Built 2000 Good condition Est $95k · 35% over

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Why this score? — see what drove the C+ 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
• Livability +4.0/5.0
• Condition / age +3.8/5.0
• Schools +3.5/10.0
• Rent growth +3.1/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Remarks: Come home to this amazing, park like setting with mature landscaping that is quite and private in the quaint neighborhood of Travois Village. This 2 bedroom, 2 bath home with a large office off the main living room has been updated and very well maintained. The large master bedroom has a beautiful bathroom and plenty of room for all of your furnishings. The additional bath and bedroom are also updated and very spacious. Two skylights naturally illuminate the home. The interior of the home is freshly painted, new flooring, new countertops, new refrigerator and several other updated features. Enjoy your morning coffee or quite evenings on the spacious, covered front porch and store your garden tools in the newly painted shed. Call Kim Lendman 406-531-0783 or your Real Estate Professional.

Key facts

• Built 2000
• Listed 78 days

Property features AI

Exterior

• Home design: Manufactured home (single wide); Residential property
• Construction: Block foundation
• Exterior features: Covered porch/patio

Interior

• Kitchen: Dishwasher; Range; Refrigerator
• Bathrooms: 2 full bathrooms
• Heating & cooling: Ductless cooling
• Interior features: Dryer; Dishwasher; Range; Refrigerator; Washer
• Laundry & utility: Washer hookup; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $128k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $968 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $128k).
• Recommended offer: $120k (6.0% below list) — sets the bar for market timing.
• Cap rate 15.4% vs local median 1.7% in Missoula — 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 79/100 on livability (#17 in MT, #2,351 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, health & safety A+; Watch: employment C-, crime F.
• Missoula H S (urban): math 31% / reading 52% proficiency, ranked #53 of 116 in MT (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+2.4%/yr); 248 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 773 units permitted in Missoula County in 2024 (354 in 5+ unit buildings).
• This rent runs 35% of the median local income ($80k/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 $885 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Missoula County population projected at +23% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 2.4% rent growth), your $36k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 79 days — a 6% lower offer ($120k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 9y ago 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.

Risks & watch-outs

• Climate carrying-cost: severe wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $120,320 (6.0% below list)

Questions for the listing agent

1. It's been on market 79 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 1.83% ✓
• Cap rate: 15.37%
• Cash-on-cash: 32.43%
• DSCR: 2.44
• GRM: 4.5

CMA / ARV

• ARV (on-the-fly): $94,848
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
705 E Travois St	0.10mi	2/2.0 (-1)	1,216 (0%)	0mo	$50,000	$41	90
225 N Travois	0.26mi	3/2.0	1,216 (0%)	13mo	$139,900	$115	77
507 S Caravan St	0.03mi	2/2.0 (-1)	1,352 (+11%)	1mo	$95,000	$70	74
407 Surrey Ln N	0.20mi	2/2.0 (-1)	1,300 (+7%)	3mo	$79,999	$62	72
230 N Travois	0.18mi	3/2.0	1,280 (+5%)	15mo	$99,900	$78	70
540 S Caravan St	0.07mi	2/2.0 (-1)	1,120 (-8%)	20mo	$69,000	$62	62
509 S Caravan St	0.04mi	3/2.0	1,056 (-13%)	21mo	$115,000	$109	59
409 N Surrey St	0.16mi	3/2.0	1,056 (-13%)	15mo	$117,500	$111	58
339 S Surrey St	0.07mi	3/2.0	1,050 (-14%)	21mo	$114,999	$110	56

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 · 2.35% rent growth · sell at horizon

5-year hold

• IRR: 26.8%
• Equity multiple: 2.10×
• Total profit: $39,453
• Equity at exit: $19,085

10-year hold

• IRR: 34.0%
• Equity multiple: 4.01×
• Total profit: $107,752
• Equity at exit: $11,067

Cash invested: $35,840 (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 59808

• Rents YoY: 2.4%
• Active inventory: 248
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $2,346 medium
• Mortgage (P&I): −$671
• Tax est. 1.5%: −$160 /mo · $1,920/yr
• Insurance: −$53
• HOA: −$0
• Vacancy / Maint / Mgmt: −$493
• Net cashflow: $968

Break-even live

Break-even rent $1,120

Max offer price $128,000

Occupancy floor 54%

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: $32,000
• Closing costs: $3,840
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3705 England Blvd Missoula, MT	3.0	2.0	1275	$2,525	$1.98	44d	1	1.28mi
4000 Mullan Rd Missoula, MT	1.0–3.0	1.0–2.0	1041	$2,995	$2.88	44d	8	1.38mi

Listing history 25 events

1. 2026-06-19
   days on market $128,000 Active 79 DOM
2. 2026-06-18
   days on market $128,000 Active 78 DOM
3. 2026-06-17
   days on market $128,000 Active 77 DOM
4. 2026-06-16
   days on market $128,000 Active 76 DOM
5. 2026-06-15
   days on market $128,000 Active 75 DOM
6. 2026-06-14
   days on market $128,000 Active 73 DOM
7. 2026-06-13
   days on market $128,000 Active 72 DOM
8. 2026-06-10
   statusdays on market $128,000 Active 70 DOM
9. 2026-06-09
   days on market $128,000 Active Under Contract 69 DOM
10. 2026-06-08
    days on market $128,000 Active Under Contract 68 DOM
11. 2026-06-07
    days on market $128,000 Active Under Contract 67 DOM
12. 2026-06-05
    days on market $128,000 Active Under Contract 64 DOM
13. 2026-06-03
    days on market $128,000 Active Under Contract 63 DOM
14. 2026-06-02
    days on market $128,000 Active Under Contract 62 DOM
15. 2026-06-01
    days on market $128,000 Active Under Contract 61 DOM
16. 2026-05-31
    days on market $128,000 Active Under Contract 60 DOM
17. 2026-05-30
    days on market $128,000 Active Under Contract 59 DOM
18. 2026-05-06
    price $128,000
19. 2026-04-01
    listed $133,600 Active
20. 2021-09-17
    soldstatus 806-char remark

    Show marketing remark (806 chars)

    Remarks: Come home to this amazing, park like setting with mature landscaping that is quite and private in the quaint neighborhood of Travois Village. This 2 bedroom, 2 bath home with a large office off the main living room has been updated and very well maintained. The large master bedroom has a beautiful bathroom and plenty of room for all of your furnishings. The additional bath and bedroom are also updated and very spacious. Two skylights naturally illuminate the home. The interior of the home is freshly painted, new flooring, new countertops, new refrigerator and several other updated features. Enjoy your morning coffee or quite evenings on the spacious, covered front porch and store your garden tools in the newly painted shed. Call Kim Lendman 406-531-0783 or your Real Estate Professional.

21. 2021-07-08
    listed $78,000 806-char remark

    Show marketing remark (806 chars)

    Remarks: Come home to this amazing, park like setting with mature landscaping that is quite and private in the quaint neighborhood of Travois Village. This 2 bedroom, 2 bath home with a large office off the main living room has been updated and very well maintained. The large master bedroom has a beautiful bathroom and plenty of room for all of your furnishings. The additional bath and bedroom are also updated and very spacious. Two skylights naturally illuminate the home. The interior of the home is freshly painted, new flooring, new countertops, new refrigerator and several other updated features. Enjoy your morning coffee or quite evenings on the spacious, covered front porch and store your garden tools in the newly painted shed. Call Kim Lendman 406-531-0783 or your Real Estate Professional.

22. 2020-08-10
    soldstatus 809-char remark

    Show marketing remark (809 chars)

    Remarks: Welcome to this adorable 2 bedroom, 2 bathroom home ready for you. From the moment you enter the front door, you can tell the owners have taken fantastic care of this home! A lot of remodeling has taken place from floor to trim. There is also an abundant amount of natural light that enters the home along with two sky lights located in both bathrooms. The main bedroom offers large closets and its own bathroom! The large living-room leads into an open kitchen that is perfect for entertaining. The front porch is ready for you especially with the beautiful Missoula weather. The common area is located in front of this property for your enjoyment. There is also a mature garden from hops to grapes, strawberries and an apple tree! There is also a shed to store your extra materials. Travois Village

23. 2020-07-07
    listed $63,000 809-char remark

    Show marketing remark (809 chars)

    Remarks: Welcome to this adorable 2 bedroom, 2 bathroom home ready for you. From the moment you enter the front door, you can tell the owners have taken fantastic care of this home! A lot of remodeling has taken place from floor to trim. There is also an abundant amount of natural light that enters the home along with two sky lights located in both bathrooms. The main bedroom offers large closets and its own bathroom! The large living-room leads into an open kitchen that is perfect for entertaining. The front porch is ready for you especially with the beautiful Missoula weather. The common area is located in front of this property for your enjoyment. There is also a mature garden from hops to grapes, strawberries and an apple tree! There is also a shed to store your extra materials. Travois Village

24. 2017-04-27
    soldstatus
25. 2017-03-30
    listed $52,000

ⓘ 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 3/10 Moderate FEMA zone X (unshaded) · 10% chance over 30 yrs
• 🔥 Wildfire 8/10 Severe
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 26 unhealthy d/yr today · 32 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,148
• − Mortgage interest: −$7,170
• − Property taxes: −$1,920
• − Insurance: −$640
• − Repairs & maintenance: −$2,252
• − Management: −$2,252
• − Depreciation: −$3,724
• Taxable income: $10,191
• Est. tax owed @ 24.0%: −$2,446
• After-tax cash flow: $9,176/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 · 12 photos

Good 75/100 Cosmetic rehab

This 2-bedroom, 2-bathroom home is in good condition with recent updates and a well-maintained exterior. It is ready for a new owner to move in and enjoy.

Value-add opportunities

• Resale paint exterior — enhances curb appeal and home value
• Resale replace porch railings — improves safety and aesthetics
• Both landscaping — enhances curb appeal and adds value

Renovation cost estimate screening

Value-add ROI direction

• Resale paint exterior — enhances curb appeal and home value ↑
• Resale replace porch railings — improves safety and aesthetics ↑
• Both landscaping — enhances curb appeal and adds 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: Missoula H S
• NCES district ID: 3018540
• Math proficiency: 31% ▼ -8.00%
• Reading proficiency: 52% ▼ -1.00%
• Median HH income: $41,814
• Composite: 34.87/100
• National rank: #5087
• State rank: #53 of 116 in MT

Livability — Missoula

• Score: 79/100
• State rank: #17
• US rank: #2351

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Missoula, MT
• County: Missoula County · 100,878 people
• City population: 100,878
• Metro: Missoula, MT
• Population (ZIP): 23,574
• Household income: $80,239
• Rent vs Own: 41.5% rent · 58.5% own
• Severe rent burden: 1022.0

Population outlook (Missoula County) Hauer SSP2

• Today (2025): 127,248 people
• By 2030: 133,571 · +5.0%
• By 2040: 144,833 · +13.8%
• By 2050: 156,753 · +23.2%
• By 2075: 189,373 · +48.8%
• By 2100: 217,637 · +71.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Two or more races 5% Hispanic / Latino 3% Asian 3% Native American 2%
• Common ancestry: Portuguese 6% Lithuanian 3% Italian 3%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Other Asian/Pacific 2% Spanish 2% Russian/Polish/Slavic 1%

Political lean MEDSL · Missoula

• 2024 margin: Strong D (+21.4) · D 59.0% · R 37.5% · Other 3.5%
• 2008→2024 swing: -5.3pp toward R · 2008: 26.7pp · 2024: 21.4pp
• All cycles: 2024: D+21.4 2020: D+23.6 2016: D+15.8 2012: D+18.7 2008: D+26.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -165.87%
• Current HPI: 269.9288
• Rent YoY: ▲ 2.35%
• Metro: Missoula, 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

+146.2% since first listed

8 events — show timeline

• 2026-05-06 Price Changed $128,000 MRMLS
• 2026-04-01 Listed $133,600 MRMLS
• 2021-09-17 Sold (MLS) — MRMLS
• 2021-07-08 Listed $78,000 MRMLS
• 2020-08-10 Sold (MLS) — MRMLS
• 2020-07-07 Listed $63,000 MRMLS
• 2017-04-27 Sold (MLS) — MRMLS
• 2017-03-30 Listed $52,000 MRMLS