1590 Adams Blvd

Sun Prairie, MT 59404

$65,000B-

2 bd · 1.0 ba · 924 sqft · Built 1980 · Other · Active · 24 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,728/mo
• Mortgage (P&I): −$341
• Tax + insurance: −$130
• HOA: −$0
• Vac / Maint / Mgmt: −$363
• Net cashflow: $894/mo
• Annual: $10,731/yr
• Cap rate: 22.80%
• Cash-on-cash: 58.96%
• DSCR: 3.62
• 1% rule: 2.66%
• Cash to close: $18,200

Investor read

• This is a 2-bed/1.0-bath other listed at $65k.
• At list price, monthly cash flow is $894 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $65k).
• It's been on market 24 days — a 2% lower offer ($64k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $64k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 66/100 on livability (#120 in MT) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: employment C-, health & safety C-, schools 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: 131 active listings in the ZIP; solid renter incomes; 223 units permitted in Cascade County in 2024 (37 in 5+ unit buildings).
• Cascade County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 3 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~2 years — after that, you're playing with house money.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.