48 Big Sky Resort Rd #222 · Big Sky, MT 59716

$347,000

3 bd · 2.0 ba · 1,329 sqft · Condo · 1291 Days on market

Built 2005 Excellent condition $261/sqft · 71% below area $384/mo HOA · 8% of rent

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Why this score? — see what drove the B 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 +26.2/30.0
• Appreciation +9.2/10.0
• DSCR +8.9/10.0
• 1% rule +8.4/10.0
• ARV discount +7.5/15.0
• Condition / age +4.8/5.0
• Schools +4.2/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0

Key facts

• $384 HOA
• Community pool
• Built 2005

Property features AI

Finance

• Other: Located at the base of the Big Sky Ski & Summer Resort; Subdivision: Lone Peak Center Condo
• HOA & community: Homeowners association; Annual association fee (annually) covering insurance, grounds maintenance, structure maintenance, snow removal and trash; Association amenities: pool, fitness center, laundry, ski access, sauna, spa/hot tub, trails

Exterior

• Parking: No garage
• Security: Carbon monoxide detector(s); Fire sprinkler system; Smoke detector(s)
• Utilities: Cable available; Electricity available; Phone available; Water available; Sewer available
• Home design: Condominium; One level; Faces south
• Construction: Wood siding; Metal roof
• Exterior features: Balcony; Association pool; South-facing view; Paved road access

Interior

• Kitchen: Cooktop; Range; Microwave; Dishwasher; Disposal; Refrigerator; Freezer
• Flooring: Other
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning; Baseboard heating; Radiant floor heating
• Interior features: Vaulted ceilings; Walk-in closet(s); Window coverings; Gas fireplace; Therapeutic whirlpool
• Laundry & utility: Laundry in association building

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $347k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $885 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $347k).
• Recommended offer: $305k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 66/100 on livability (#113 in MT) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing B; Watch: schools C-, health & safety C-, amenities F.
• Ennis K-12 Schools (rural): math 43% / reading 56% proficiency, ranked #28 of 116 in MT (top 24%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 17% free/reduced lunch — higher-income household profile.
• Market conditions: 253 active listings in the ZIP; 9 units permitted in Madison County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $31k of equity ($2k loan paydown + $29k appreciation (8.4% local appreciation)).
• At projected returns (8.4% appreciation + 3.0% rent growth), your $97k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$50k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 1291 days — a 12% lower offer ($305k) is reasonable based on typical stale-listing flexibility.

Recommended offer $305,360 (12.0% below list)

Questions for the listing agent

1. It's been on market 1291 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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: 9.35%
• Cash-on-cash: 10.94%
• DSCR: 1.49
• GRM: 6.2

CMA / ARV

• ARV (median comp): $1,193,091
• List price: $347,000
• Delta: -70.92%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

8.37% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 29.2%
• Equity multiple: 3.14×
• Total profit: $207,828
• Equity at exit: $272,334

10-year hold

• IRR: 26.0%
• Equity multiple: 6.79×
• Total profit: $562,221
• Equity at exit: $549,106

Cash invested: $97,160 (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 59716

• Home prices YoY: 2.8%
• Active inventory: 253
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $4,642 medium
• Mortgage (P&I): −$1,820
• Tax est. 1.5%: −$434 /mo · $5,205/yr
• Insurance: −$145
• HOA: −$384
• Vacancy / Maint / Mgmt: −$975
• Net cashflow: $885

Break-even live

Break-even rent $3,522

Max offer price $347,000

Occupancy floor 76%

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: $86,750
• Closing costs: $10,410
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $384 · $4,608/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-06-19
   days on market $347,000 Active 1291 DOM
2. 2026-06-18
   days on market $347,000 Active 1290 DOM
3. 2026-06-17
   days on market $347,000 Active 1289 DOM
4. 2026-06-16
   days on market $347,000 Active 1288 DOM
5. 2026-06-15
   days on market $347,000 Active 1287 DOM
6. 2026-06-14
   days on market $347,000 Active 1285 DOM
7. 2026-06-12
   days on market $347,000 Active 1284 DOM
8. 2026-06-09
   days on market $347,000 Active 1281 DOM
9. 2026-06-08
   days on market $347,000 Active 1280 DOM
10. 2026-06-07
    days on market $347,000 Active 1279 DOM
11. 2026-06-02
    days on market $347,000 Active 1274 DOM
12. 2026-06-01
    days on market $347,000 Active 1273 DOM
13. 2026-05-31
    days on market $347,000 Active 1272 DOM
14. 2026-05-30
    days on market $347,000 Active 1271 DOM
15. 2023-01-02
    price $347,000
16. 2022-01-30
    listed $329,000 Active

ⓘ 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 1/10 Low
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $55,708
• − Mortgage interest: −$19,437
• − Property taxes: −$5,205
• − Insurance: −$1,735
• − Repairs & maintenance: −$4,457
• − Management: −$4,457
• − HOA: −$4,608
• − Depreciation: −$10,095
• Taxable income: $5,715
• Est. tax owed @ 24.0%: −$1,372
• After-tax cash flow: $9,253/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

Excellent 95/100 None rehab

This property is in excellent condition with no visible repairs needed. It offers high-end finishes and a prime location, making it a great investment for both resale and rental.

Value-add opportunities

• Both Update flooring to high-end material — Enhances aesthetic and value
• Both Paint interior walls with a fresh coat — Enhances aesthetic and value
• Both Upgrade HVAC system for energy efficiency — Reduces utility costs and enhances comfort

Renovation cost estimate screening

Value-add ROI direction

• Both Update flooring to high-end material — Enhances aesthetic and value ↑
• Both Paint interior walls with a fresh coat — Enhances aesthetic and value ↑
• Both Upgrade HVAC system for energy efficiency — Reduces utility costs and enhances comfort ↑

ⓘ 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: Ennis K-12 Schools
• NCES district ID: 3009930
• Math proficiency: 43% ▼ -2.00%
• Reading proficiency: 56% ▼ -4.00%
• Median HH income: $47,407
• Composite: 42.07/100
• National rank: #3323
• State rank: #28 of 116 in MT

Livability — Big Sky

• Score: 66/100
• State rank: #113
• US rank: #11337

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Big Sky, MT
• City population: 1,867
• Population (ZIP): 1,867

Population outlook (Madison County) Hauer SSP2

• Today (2025): 8,365 people
• By 2030: 8,515 · +1.8%
• By 2040: 8,539 · +2.1%
• By 2050: 8,467 · +1.2%
• By 2075: 8,745 · +4.5%
• By 2100: 9,210 · +10.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Hispanic / Latino 5% Two or more races 3%
• Common ancestry: Lithuanian 6% Iranian 4% Serbian 4%
• Foreign-born: 10% · Canada
• Languages at home: 94% English-only · Spanish 4% German/W. Germanic 1%

Political lean MEDSL · Madison

• 2024 margin: Solid R (+45.3) · D 26.1% · R 71.4% · Other 2.4%
• 2008→2024 swing: -8.2pp toward R · 2008: -37.1pp · 2024: -45.3pp
• All cycles: 2024: R+45.3 2020: R+39.6 2016: R+44.7 2012: R+40.6 2008: R+37.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 8.37%
• Current HPI: 308.041
• 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

+5.5% since first listed

2 events — show timeline

• 2023-01-02 Price Changed $347,000 BSCMLS
• 2022-01-30 Listed $329,000 BSCMLS