131 S 1st Street St W · Baker, MT 59313

$125,000

4 bd · 2.0 ba · 2,016 sqft · MultiFamily · 341 Days on market

Built 1948 Poor condition 10,498 sqft lot $62/sqft · 30% below area Est $179k · 30% under

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Why this score? — see what drove the A- 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 +29.8/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• Appreciation +8.6/10.0
• 1% rule +8.4/10.0
• Livability +4.0/5.0
• Schools +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +1.0/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

This 4 bedroom, 2 bathroom home offers a great layout and unbeatable location—just a short walk from downtown amenities. The main level features 2 bedrooms, 1 bathroom, original hardwood floors, a cozy living area, and arched doorway details that add character. Downstairs, you'll find 2 additional bedrooms, a bathroom, and a walk-out door that adds function and flexibility. Whether you're a first-time buyer, investor, or looking for a home with rental potential, this property is full of opportunity in the heart of town.

Key facts

• Unbeatable location
• Walk-out door
• 0.24 acre lot

Tags

• ORIGINAL HARDWOOD FLOORS
• ARCHED DOORWAY DETAILS
• WALK-OUT DOOR
• UNBEATABLE LOCATION

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $125k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $460 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $110k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 81/100 on livability (#4 in MT, #1,349 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities D, commute F.
• Baker K-12 Schools (rural): math 42% / reading 39% proficiency, ranked #52 of 116 in MT (top 45%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 18% free/reduced lunch — higher-income household profile.
• Market conditions: 11 active listings in the ZIP.

Forward outlook

• In year one you build about $10k of equity ($864 loan paydown + $9k appreciation (7.3% local appreciation)).
• Fallon County population projected at +47% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (7.3% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 341 days — a 12% lower offer ($110k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y ago; this cycle's ask has dropped $20k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $110,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 341 days. Have you received any prior offers? Is the seller open to a 12% 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. Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.34% ✓
• Cap rate: 10.71%
• Cash-on-cash: 15.77%
• DSCR: 1.70
• GRM: 6.2

CMA / ARV

• ARV (median comp): $179,131
• List price: $125,000
• Delta: -30.22%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

7.26% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 30.9%
• Equity multiple: 3.14×
• Total profit: $74,965
• Equity at exit: $88,751

10-year hold

• IRR: 28.0%
• Equity multiple: 6.60×
• Total profit: $195,865
• Equity at exit: $170,553

Cash invested: $35,000 (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 59313

• Home prices YoY: 4.8%
• Active inventory: 11
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,676 medium
• Mortgage (P&I): −$656
• Tax est. 1.5%: −$156 /mo · $1,875/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$352
• Net cashflow: $460

Break-even live

Break-even rent $1,093

Max offer price $125,000

Occupancy floor 68%

Sensitivity live

Price	-10% $546	-5% $503	+0% $460	+5% $417	+10% $373
Rent	-10% $327	-5% $394	+0% $460	+5% $526	+10% $592
Rate	-1.0pp $523	-0.5pp $492	base $460	+0.5pp $427	+1.0pp $395

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-21
   days on market $125,000 Active 341 DOM
2. 2026-06-21
   days on market $125,000 Active 340 DOM
3. 2026-06-18
   days on market $125,000 Active 338 DOM
4. 2026-06-17
   days on market $125,000 Active 337 DOM
5. 2026-06-16
   days on market $125,000 Active 336 DOM
6. 2026-06-15
   days on market $125,000 Active 335 DOM
7. 2026-06-13
   days on market $125,000 Active 333 DOM
8. 2026-06-12
   days on market $125,000 Active 332 DOM
9. 2026-06-09
   days on market $125,000 Active 329 DOM
10. 2026-06-08
    days on market $125,000 Active 328 DOM
11. 2026-06-07
    days on market $125,000 Active 327 DOM
12. 2026-06-05
    days on market $125,000 Active 325 DOM
13. 2026-06-04
    days on market $125,000 Active 323 DOM
14. 2026-06-02
    days on market $125,000 Active 322 DOM
15. 2026-06-01
    days on market $125,000 Active 321 DOM
16. 2026-05-31
    days on market $125,000 Active 320 DOM
17. 2025-10-14
    price $125,000 531-char remark

    Show marketing remark (531 chars)

    This 4 bedroom, 2 bathroom home offers a great layout and unbeatable location—just a short walk from downtown amenities. The main level features 2 bedrooms, 1 bathroom, original hardwood floors, a cozy living area, and arched doorway details that add character. Downstairs, you'll find 2 additional bedrooms, a bathroom, and a walk-out door that adds function and flexibility. Whether you're a first-time buyer, investor, or looking for a home with rental potential, this property is full of opportunity in the heart of town.

18. 2025-07-15
    listed $145,000 Active 531-char remark

    Show marketing remark (531 chars)

    This 4 bedroom, 2 bathroom home offers a great layout and unbeatable location—just a short walk from downtown amenities. The main level features 2 bedrooms, 1 bathroom, original hardwood floors, a cozy living area, and arched doorway details that add character. Downstairs, you'll find 2 additional bedrooms, a bathroom, and a walk-out door that adds function and flexibility. Whether you're a first-time buyer, investor, or looking for a home with rental potential, this property is full of opportunity in the heart of town.

19. 2022-04-25
    soldstatus
20. 2022-03-11
    listed $50,000

ⓘ 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

• 🌡 Heat 3/10 Moderate
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,107
• − Mortgage interest: −$7,002
• − Property taxes: −$1,875
• − Insurance: −$625
• − Repairs & maintenance: −$1,609
• − Management: −$1,609
• − Depreciation: −$3,636
• Taxable income: $3,752
• Est. tax owed @ 24.0%: −$900
• After-tax cash flow: $4,618/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

Poor 20/100 Extensive rehab

This property requires extensive renovations to bring it up to modern standards, significantly increasing its resale and rental value.

Repairs flagged

• Major kitchen cabinets — severe wear and tear
• Major bathroom fixtures — dated and worn
• Major exterior siding — visible damage and peeling paint
• Major HVAC system — outdated and possibly inefficient
• Major foundation cracks — visible structural issues

Value-add opportunities

• Both kitchen renovation — modernizing the kitchen can significantly increase both resale and rental value
• Both bathroom renovation — updating bathrooms is a high-ROI investment for both resale and rental
• Both exterior siding and paint — renovating the exterior can improve curb appeal and increase both resale and rental value
• Both HVAC system — upgrading the HVAC system can improve comfort and energy efficiency, increasing both resale and rental value
• Both foundation repair — addressing foundation cracks can improve structural integrity and increase both resale and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · severe wear and tear	Major	$15,000–50,000
bathroom fixtures · dated and worn	Major	$15,000–50,000
exterior siding · visible damage and peeling paint	Major	$15,000–50,000
HVAC system · outdated and possibly inefficient	Major	$15,000–50,000
foundation cracks · visible structural issues	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Both kitchen renovation — modernizing the kitchen can significantly increase both resale and rental value ↑
• Both bathroom renovation — updating bathrooms is a high-ROI investment for both resale and rental ↑
• Both exterior siding and paint — renovating the exterior can improve curb appeal and increase both resale and rental value ↑
• Both HVAC system — upgrading the HVAC system can improve comfort and energy efficiency, increasing both resale and rental value ↑
• Both foundation repair — addressing foundation cracks can improve structural integrity and increase both resale and rental 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: Baker K-12 Schools
• NCES district ID: 3002730
• Math proficiency: 42% ▼ -4.00%
• Reading proficiency: 39% ▼ -11.00%
• Median HH income: $52,699
• Composite: 35.19/100
• National rank: #4996
• State rank: #52 of 116 in MT

Livability — Baker

• Score: 81/100
• State rank: #4
• US rank: #1349

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Baker, MT
• Population (ZIP): 2,147

Population outlook (Fallon County) Hauer SSP2

• Today (2025): 3,692 people
• By 2030: 3,986 · +8.0%
• By 2040: 4,662 · +26.3%
• By 2050: 5,439 · +47.3%
• By 2075: 7,519 · +103.7%
• By 2100: 8,763 · +137.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Native American 3%
• Common ancestry: Portuguese 21% Romanian 2% Lithuanian 1%
• Foreign-born: 2%
• Languages at home: 98% English-only · German/W. Germanic 1% Spanish 1%

Political lean MEDSL · Fallon

• 2024 margin: Solid R (+75.6) · D 10.8% · R 86.5% · Other 2.7%
• 2008→2024 swing: -23.5pp toward R · 2008: -52.1pp · 2024: -75.6pp
• All cycles: 2024: R+75.6 2020: R+76.4 2016: R+76.1 2012: R+63.4 2008: R+52.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 7.26%
• Current HPI: 157.9608
• Rent YoY: —
• Metro: —
• 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

+150.0% since first listed

4 events — show timeline

• 2025-10-14 Price Changed $125,000 BMTMLS
• 2025-07-15 Listed $145,000 BMTMLS
• 2022-04-25 Sold (MLS) — BMTMLS
• 2022-03-11 Listed $50,000 BMTMLS