7411 Azalea Dr

Wye, MT 59808

$215,000F

4 bd · 2.0 ba · 1,728 sqft · Built 2000 · Manufactured · Active · 31 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,397/mo
• Mortgage (P&I): −$1,127
• Tax + insurance: −$358
• HOA: −$525
• Vac / Maint / Mgmt: −$503
• Net cashflow: $-117/mo
• Annual: $-1,402/yr
• Cap rate: 5.64%
• Cash-on-cash: -2.33%
• DSCR: 0.90
• 1% rule: 1.12%
• Cash to close: $60,200

Investor read

• This is a 4-bed/2.0-bath manufactured listed at $215k. Condition is rated fair.
• At list price, monthly cash flow is $-117 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $198k (7.9% below list).
• Meets the 1% rule at list price ($2k rent vs $215k).
• It's been on market 31 days — a 3% lower offer ($209k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $198k (7.9% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 63/100 on livability (#156 in MT) — a middle-class / working-renter tenant base. Strengths: housing A+, employment A, crime B; Watch: schools D-, amenities F, commute F.
• Frenchtown K-12 Schools (rural): math 34% / reading 48% proficiency, ranked #47 of 116 in MT (top 40%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: HOA is 22% of rent.
• Market conditions: Rents rising (+2.4%/yr); 248 active listings in the ZIP; solid renter incomes; 773 units permitted in Missoula County in 2024 (354 in 5+ unit buildings).
• Missoula County population projected at +23% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 4 sale attempts since 5y 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.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.6% vs local median 1.5% in Wye — 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.
• This rent runs 36% of the median local income ($80k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 31 days. Have you received any prior offers? Is the seller open to a 8% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.

Repairs flagged (vision-AI assessment)

• Moderate: kitchen cabinets — dated and worn
• Moderate: kitchen countertops — dated and worn
• Moderate: kitchen appliances — dated and worn
• Moderate: bathroom fixtures — dated and worn
• Moderate: bathroom tile — dated and worn