4024/4026 Ella Ave · Great Falls, MT 59405

$370,000

6 bd · 3.0 ba · 3,360 sqft · MultiFamily public records · 1 Days on market

Built 1957 7,187 sqft lot Est $370k · at est.

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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 +20.0/30.0
• ARV discount +7.5/15.0
• DSCR +6.3/10.0
• 1% rule +4.2/10.0
• Livability +3.9/5.0
• Rent growth +3.4/5.0
• Schools +2.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Key facts

• Gated garden dog run
• Storage shed
• Private bonus room

Tags

• PRIVATE BONUS ROOM
• DEDICATED LAUNDRY ROOM
• FULLY FENCED YARD
• GATED GARDEN DOG RUN
• STORAGE SHED
• REFINISHED HARDWOOD FLOORS

Property features AI

Exterior

• Parking: Attached garage with 2 spaces
• Utilities: Public water
• Home design: Duplex residential income property; Two levels; Individual entrances for each unit
• Construction: Built with aluminum siding; Asphalt roof
• Exterior features: Back yard; Front yard; Dog run; Rain gutters

Interior

• Kitchen: Dishwasher; Range; Refrigerator
• Heating & cooling: Natural gas heating; Forced air heating; Central air conditioning
• Interior features: Dryer; Dishwasher; Range; Refrigerator; Washer; Partially finished concrete basement
• Laundry & utility: Washer and dryer in unit; Washer hookup

What this means for you Summary

Snapshot

• This is a 6-bed/3.0-bath multifamily listed at $370k.

Deal economics

• At list price, monthly cash flow is $455 ($5k/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 $341k (7.8% below list).
• Recommended offer: $341k (7.8% below list) — sets the bar for 1% rule.
• Cap rate 7.8% vs local median 3.5% in Great Falls — 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 78/100 on livability (#19 in MT, #2,473 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, housing A+; Watch: schools C-, employment C-, crime F.
• Great Falls H S (urban): math 27% / reading 39% proficiency, ranked #79 of 116 in MT (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+3.6%/yr); 111 active listings in the ZIP; 223 units permitted in Cascade County in 2024 (37 in 5+ unit buildings).
• At $3,411/mo this rent would consume 69% of the median local household income ($59k/yr) (locally 1123% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.
• Cascade County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $341,100 (7.8% below list)

Questions for the listing agent

1. Built in 1957 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.92% ✗
• Cap rate: 7.77%
• Cash-on-cash: 5.26%
• DSCR: 1.23
• GRM: 9.0

CMA / ARV

• ARV (on-the-fly): $369,600
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4024/4026 Ella Ave	0.00mi	6/3.0	3,360 (0%)	0mo	$370,000	$110	100

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 · 3.64% rent growth · sell at horizon

5-year hold

• IRR: -7.5%
• Equity multiple: 0.72×
• Total profit: $-28,941
• Equity at exit: $55,168

10-year hold

• IRR: 2.7%
• Equity multiple: 1.20×
• Total profit: $20,680
• Equity at exit: $31,991

Cash invested: $103,600 (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 59405

• Rents YoY: 3.6%
• Active inventory: 111
• Price-to-rent: 18.1×

Monthly cashflow live

• Estimated rent: $3,411 medium
• Mortgage (P&I): −$1,940
• Tax from tax record: −$146 /mo · $1,748/yr
• Insurance: −$154
• HOA: −$0
• Vacancy / Maint / Mgmt: −$716
• Net cashflow: $455

Break-even live

Break-even rent $2,836

Max offer price $370,000

Occupancy floor 82%

Sensitivity live

Price	-10% $664	-5% $559	+0% $455	+5% $350	+10% $245
Rent	-10% $185	-5% $320	+0% $455	+5% $589	+10% $724
Rate	-1.0pp $641	-0.5pp $549	base $455	+0.5pp $359	+1.0pp $261

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	1.5	$3,412
Total (2 units)			$3,411

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: $92,500
• Closing costs: $11,100
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-05-01
   status Pending
2. 2026-05-01
   historical Active Under Contract
3. 2026-05-01
   listed $370,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast MT · Resets to sale price

• Current annual tax: $1,748 · $146/mo
• Projected year-2 tax: $3,108 · $259/mo
• Expected delta: +$1,360/yr (+$113/mo · 77.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 2/10 Low 6 d/yr ≥91°F today · 13 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 5/10 Major 8 unhealthy d/yr today · 9 by 30 yrs out

Taxation est. · year 1

• Rental income: $40,932
• − Mortgage interest: −$20,726
• − Property taxes: −$1,748
• − Insurance: −$1,850
• − Repairs & maintenance: −$3,275
• − Management: −$3,275
• − Depreciation: −$10,764
• Taxable loss: −$705
• Est. tax savings @ 24.0%: +$169
• After-tax cash flow: $5,623/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.

Schools (NCES district)

• District: Great Falls H S
• NCES district ID: 3013050
• Math proficiency: 27% ▼ -6.00%
• Reading proficiency: 39% ▼ -3.00%
• Median HH income: $43,586
• Composite: 28.03/100
• National rank: #6846
• State rank: #79 of 116 in MT

Livability — Great Falls

• Score: 78/100
• State rank: #19
• US rank: #2473

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Great Falls, MT
• County: Cascade County · 75,427 people
• City population: 75,427
• Metro: Great Falls, MT
• Population (ZIP): 33,350
• Household income: $59,449
• Rent vs Own: 43.0% rent · 57.0% own
• Severe rent burden: 1123.0

Population outlook (Cascade County) Hauer SSP2

• Today (2025): 81,936 people
• By 2030: 81,376 · -0.7%
• By 2040: 79,435 · -3.1%
• By 2050: 77,906 · -4.9%
• By 2075: 78,595 · -4.1%
• By 2100: 79,997 · -2.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Two or more races 10% Hispanic / Latino 6% Native American 4% Black 2% Asian 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Portuguese 8% Italian 3% Romanian 2%
• Foreign-born: 2%
• Languages at home: 95% English-only · Spanish 2% German/W. Germanic 1%

Political lean MEDSL · Cascade

• 2024 margin: Strong R (+22.3) · D 37.3% · R 59.6% · Other 3.0%
• 2008→2024 swing: -24.6pp toward R · 2008: 2.3pp · 2024: -22.3pp
• All cycles: 2024: R+22.3 2020: R+19.7 2016: R+21.6 2012: R+9.1 2008: D+2.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -121.87%
• Current HPI: 213.0016
• Rent YoY: ▲ 3.64%
• Metro: Great Falls, 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

3 events — show timeline

• 2026-05-01 Pending — MRMLS
• 2026-05-01 Contingent — MRMLS
• 2026-05-01 Listed $370,000 MRMLS

Property tax history

+0.7%/yr

Latest (2025): $1,748 · -27.6% YoY. Source: county tax records.