1031 4th Ave W · Kalispell, MT 59901

$510,000

2 bd · 1.0 ba · 2,070 sqft · MultiFamily public records · 99 Days on market

Built 1935 Fair condition 7,057 sqft lot Garage $246/sqft · at area comps Est $612k · 17% under

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Why this score? — see what drove the D+ 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).

• ARV discount +15.0/15.0
• Cash flow +13.4/30.0
• Schools +4.4/10.0
• DSCR +4.0/10.0
• Livability +3.6/5.0
• Rent growth +3.1/5.0
• 1% rule +3.0/10.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 2 units. 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.

Listing remarks MLS

Remarks: 2 Bed 1 Bath home with full basement, oversized 2 stall garage. Call Tim Carter @ [phone] or your real estate professional.

Key facts

• 7,057 sq ft lot
• Built 1935
• Listed 98 days

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $510k. Condition is rated fair.
• This rent per unit runs 34% of the median local income ($73k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Deal economics

• At list price, monthly cash flow is $13 ($155/yr) — positive. Per door: $6/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $409k (19.7% below list).
• Recommended offer: $409k (19.7% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 2.1% in Kalispell — 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 72/100 on livability (#61 in MT) — a middle-class / working-renter tenant base. Strengths: health & safety A+, cost of living A, housing A-; Watch: crime C-, commute F, employment D-.
• Flathead H S (town): math 29% / reading 52% proficiency, ranked #55 of 116 in MT (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Elrod School (math 27% / reading 52%, grade F, #166 of 293 statewide, top 61%, 231 students, 0% FRL); Kalispell Middle School (math 50% / reading 61%, grade B-, #13 of 146 statewide, top 8%, 1,045 students, 0% FRL); Flathead High School (math 22% / reading 50%, grade F, #50 of 132 statewide, top 37%, 1,626 students, 0% FRL).
• Market conditions: Rents rising (+2.4%/yr); 813 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); 281 units permitted in Flathead County in 2024 (80 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $15k of value loss. Plan a longer hold.
• Flathead County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 99 days — a 9% lower offer ($464k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 6y 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.

Risks & watch-outs

• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $409,400 (19.7% below list)

Questions for the listing agent

1. It's been on market 99 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1935 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
9. 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?
10. 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.
11. 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.
12. 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: 0.80% ✗
• Cap rate: 6.32%
• Cash-on-cash: 0.11%
• DSCR: 1.00
• GRM: 10.4

CMA / ARV

• ARV (median comp): $612,000
• List price: $510,000
• Delta: -16.67%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
836 3rd Ave W	0.13mi	3/3.0 (+1)	2,400 (+16%)	1mo	$549,000	$229	55
786 5th Ave	1.38mi	2/2.0	2,016 (-3%)	2mo	$449,000	$223	55
215 Caroline Rd	1.22mi	3/2.0 (+1)	2,208 (+7%)	3mo	$349,000	$158	42
620 5th Ave E	0.66mi	3/1.5 (+1)	2,417 (+17%)	2mo	$579,000	$240	36
1427 4th Ave E	0.62mi	3/2.0 (+1)	1,596 (-23%)	2mo	$435,000	$273	35
135 Leisure Dr	1.40mi	3/2.0 (+1)	1,812 (-12%)	0mo	$559,000	$308	35
168 Peaks View Loop	0.94mi	3/2.0 (+1)	1,563 (-24%)	0mo	$430,500	$275	31
31 5th Ave E	0.93mi	3/2.0 (+1)	1,792 (-13%)	3mo	$539,900	$301	31
110 Glenwood Dr Unit C	1.46mi	3/2.5 (+1)	1,768 (-15%)	0mo	$375,000	$212	29
152 Peaks View Loop	0.95mi	3/2.0 (+1)	1,563 (-24%)	3mo	$429,900	$275	29
2035 Teal Dr	0.87mi	3/2.5 (+1)	1,644 (-21%)	2mo	$415,000	$252	27
26 Muskrat Dr	1.44mi	3/2.5 (+1)	1,620 (-22%)	3mo	$450,000	$278	27

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 · 2.41% rent growth · sell at horizon

5-year hold

• IRR: -16.8%
• Equity multiple: 0.41×
• Total profit: $-84,358
• Equity at exit: $76,043

10-year hold

• IRR: -9.7%
• Equity multiple: 0.42×
• Total profit: $-82,699
• Equity at exit: $44,095

Cash invested: $142,800 (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 59901

• Rents YoY: 2.4%
• Active inventory: 813
• Price-to-rent: 20.8×

Monthly cashflow live

• Estimated rent: $4,094 high
• Mortgage (P&I): −$2,674
• Tax from tax record: −$334 /mo · $4,012/yr
• Insurance: −$212
• HOA: −$0
• Vacancy / Maint / Mgmt: −$860
• Net cashflow: $13

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$4,094
Total (2 units)			$4,094

Break-even live

Break-even rent $4,078

Max offer price $510,000

Occupancy floor 95%

Sensitivity live

Price	-10% $302	-5% $157	+0% $13	+5% $-131	+10% $-276
Rent	-10% $-310	-5% $-149	+0% $13	+5% $175	+10% $336
Rate	-1.0pp $270	-0.5pp $143	base $13	+0.5pp $-119	+1.0pp $-254

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: $127,500
• Closing costs: $15,300
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1029 4th Ave W Kalispell, MT	3.0	2.0	1860	$2,200	$1.18	2d	1	0.04mi
621 1/2 8th St W Kalispell, MT	2.0	2.0	—	$1,995	—	2d	1	0.28mi
421 Needlegrass Ln Kalispell, MT	3.0	2.5	1268	$2,500	$1.97	2d	1	0.29mi
512 1/2 3rd Ave W Kalispell, MT	2.0	1.0	600	$1,200	$2.00	2d	1	0.34mi
238 11th St E Kalispell, MT	2.0	1.0	—	$1,150	—	2d	1	0.44mi
519 1st Ave E Unit A Kalispell, MT	2.0	2.0	930	$2,200	$2.37	2d	1	0.46mi
1832 Airport Rd Unit B Kalispell, MT	3.0	2.0	—	$2,700	—	2d	1	0.52mi
1832 Airport Rd Unit B Kalispell, MT	2.0	1.0	750	$1,950	$2.60	4d	1	0.52mi
933 4th Ave E Kalispell, MT	2.0	1.0	—	$1,950	—	2d	1	0.53mi
931 4th Ave E Kalispell, MT	2.0	1.0	—	$1,950	—	2d	1	0.53mi
1218 8th St W Kalispell, MT	3.0	3.0	1228	$1,775	$1.45	2d	1	0.63mi
520 12th St E Kalispell, MT	2.0	1.0	—	$1,450	—	2d	1	0.64mi
611 1st St W Unit 101 Kalispell, MT	2.0	1.5	—	$1,600	—	2d	1	0.69mi
1624 5th Ave E #1624 Kalispell, MT	3.0	1.5	1294	$1,725	$1.33	2d	1	0.70mi
222 10th Ave W Unit AP3 (MK 591) Kalispell, MT	2.0	1.0	686	$1,150	$1.68	2d	1	0.73mi
1111 4th St W Kalispell, MT	3.0	1.0	1360	$2,100	$1.54	2d	1	0.74mi
1826 Bluestone Dr Kalispell, MT	3.0	3.0	1560	$2,475	$1.59	2d	1	0.74mi
501 W Center St Kalispell, MT	2.0	1.0	977	$1,925	$1.97	2d	1	0.76mi
1900 Teal Dr Kalispell, MT	3.0	2.0	1467	$2,000	$1.36	2d	1	0.85mi
1985 Greatview Dr Kalispell, MT	3.0	2.5	1456	$2,350	$1.61	6d	1	0.85mi
2105 3rd Ave E Kalispell, MT	1.0–2.0	1.0–2.0	799	$1,795	$2.25	2d	2	0.88mi
50 Meridian Ct Kalispell, MT	2.0	1.0	669	$1,946	$2.91	2d	5	0.90mi
2101 Eider Dr Kalispell, MT	3.0	2.5	1480	$2,200	$1.49	2d	1	0.94mi
255 E 1st Avenue N Apt 2 Kalispell, MT	2.0	1.0	800	$1,275	$1.59	6d	1	1.01mi
1653 Woodland Ave Kalispell, MT	2.0	1.0	1000	$1,800	$1.80	2d	1	1.16mi
820 E Idaho St Kalispell, MT	1.0–3.0	1.0–2.0	817	$1,947	$2.38	2d	21	1.24mi

Property features AI

Finance

• Financial info: Property is a duplex with two units producing rent: Unit A currently $1,800, Unit B currently $1,700

Exterior

• Parking: Alley access for parking/garage
• Utilities: Public waterPublic sewerNatural gas available and connected
• Home design: Duplex (residential income property)
• Construction: Finished concrete basement
• Exterior features: Alley accessResidential zoning (WR-4)

Interior

• Kitchen: RangeRefrigerator
• Bedrooms: Unit A: 3 bedrooms (1 on main level, 2 on lower level)Unit B: 3 bedrooms (2 on main level, 1 on lower level)
• Bathrooms: Unit A: 2 full bathroomsUnit B: 2 bathrooms (1 full on main level, 1 three-quarter on lower level)
• Heating & cooling: Natural gas forced-air heating
• Interior features: High-speed internet
• Laundry & utility: Washer hookupWasherDryer

Listing history 50 events

1. 2026-07-25
   pricedays on market $510,000 Active 99 DOM
2. 2026-07-24
   days on market $500,000 Active 98 DOM
3. 2026-07-24
   status $500,000 Active 97 DOM
4. 2026-07-23
   days on market $500,000 Active Under Contract 97 DOM
5. 2026-07-22
   days on market $500,000 Active Under Contract 96 DOM
6. 2026-07-21
   days on market $500,000 Active Under Contract 95 DOM
7. 2026-07-18
   days on market $500,000 Active Under Contract 92 DOM
8. 2026-07-16
   days on market $500,000 Active Under Contract 90 DOM
9. 2026-07-16
   days on market $500,000 Active Under Contract 89 DOM
10. 2026-07-14
    days on market $500,000 Active Under Contract 88 DOM
11. 2026-07-13
    days on market $500,000 Active Under Contract 87 DOM
12. 2026-07-12
    days on market $500,000 Active Under Contract 86 DOM
13. 2026-07-11
    days on market $500,000 Active Under Contract 85 DOM
14. 2026-07-10
    days on market $500,000 Active Under Contract 84 DOM
15. 2026-07-09
    days on market $500,000 Active Under Contract 83 DOM
16. 2026-07-08
    days on market $500,000 Active Under Contract 82 DOM
17. 2026-07-07
    days on market $500,000 Active Under Contract 81 DOM
18. 2026-07-06
    days on market $500,000 Active Under Contract 80 DOM
19. 2026-07-05
    days on market $500,000 Active Under Contract 79 DOM
20. 2026-07-04
    days on market $500,000 Active Under Contract 78 DOM
21. 2026-07-03
    days on market $500,000 Active Under Contract 77 DOM
22. 2026-07-02
    days on market $500,000 Active Under Contract 76 DOM
23. 2026-07-01
    days on market $500,000 Active Under Contract 75 DOM
24. 2026-06-30
    days on market $500,000 Active Under Contract 74 DOM
25. 2026-06-29
    days on market $500,000 Active Under Contract 73 DOM
26. 2026-06-28
    days on market $500,000 Active Under Contract 72 DOM
27. 2026-06-28
    days on market $500,000 Active Under Contract 71 DOM
28. 2026-06-27
    days on market $500,000 Active Under Contract 70 DOM
29. 2026-06-26
    days on market $500,000 Active Under Contract 69 DOM
30. 2026-06-23
    days on market $500,000 Active Under Contract 66 DOM
31. 2026-06-21
    days on market $500,000 Active Under Contract 65 DOM
32. 2026-06-19
    days on market $500,000 Active Under Contract 63 DOM
33. 2026-06-18
    days on market $500,000 Active Under Contract 62 DOM
34. 2026-06-17
    days on market $500,000 Active Under Contract 61 DOM
35. 2026-06-16
    days on market $500,000 Active Under Contract 60 DOM
36. 2026-06-15
    days on market $500,000 Active Under Contract 59 DOM
37. 2026-06-14
    statusdays on market $500,000 Active Under Contract 57 DOM
38. 2026-06-13
    days on market $500,000 Active 56 DOM
39. 2026-06-10
    days on market $500,000 Active 54 DOM
40. 2026-06-09
    days on market $500,000 Active 53 DOM
41. 2026-06-08
    days on market $500,000 Active 52 DOM
42. 2026-06-07
    days on market $500,000 Active 51 DOM
43. 2026-06-05
    statusdays on market $500,000 Active 48 DOM
44. 2026-06-03
    days on market $500,000 Active Under Contract 47 DOM
45. 2026-06-02
    days on market $500,000 Active Under Contract 46 DOM
46. 2026-06-01
    days on market $500,000 Active Under Contract 45 DOM
47. 2026-05-31
    days on market $500,000 Active Under Contract 44 DOM
48. 2026-05-30
    days on market $500,000 Active Under Contract 43 DOM
49. 2026-05-22
    historical Active Under Contract
50. 2026-04-17
    listed $500,000 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: $4,012 · $334/mo
• Projected year-2 tax: $4,284 · $357/mo
• Expected delta: +$272/yr (+$23/mo · 6.8%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 2/10 Low

Taxation est. · year 1

• Rental income: $49,128
• − Mortgage interest: −$28,568
• − Property taxes: −$4,012
• − Insurance: −$2,550
• − Repairs & maintenance: −$3,930
• − Management: −$3,930
• − Depreciation: −$14,836
• Taxable loss: −$8,699
• Est. tax savings @ 24.0%: +$2,088
• After-tax cash flow: $2,243/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

Fair 45/100 Moderate rehab Est. rehab $51,750–$93,150 screening

The home is in fair condition with some minor repairs and maintenance needed. Painting, landscaping, and reorganizing the interior can significantly increase its value.

Repairs flagged

• Minor Kitchen cabinets — Slight wear on the cabinet doors.
• Minor Bathroom fixtures — Some discoloration on the shower curtain rod.
• Minor Landscaping — Some weeds and overgrown grass in the front yard.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint can improve the curb appeal and interior aesthetics. ↑
• Both Landscaping the front yard — A well-maintained front yard can enhance the home's curb appeal and attract potential buyers/tenants. ↑
• Both Reorganizing the bedrooms and living room — A tidy and organized space can make the home more appealing to potential buyers/tenants and increase its value. ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 44/100

Zoned Schools

Elementary Elrod School F MT #166/293 Nat'l #19,648/41,679 Middle Kalispell Middle School B- MT #13/146 Nat'l #2,418/14,009 High Flathead High School F MT #50/132 Nat'l #9,405/17,239

Schools (NCES district)

• District: Flathead H S
• NCES district ID: 3015420
• Math proficiency: 29% ▼ -6.00%
• Reading proficiency: 52% ▼ -3.00%
• Median HH income: $49,712
• Composite: 34.79/100
• National rank: #5115
• State rank: #55 of 116 in MT

B Composite livability gradescore 72/100

Livability — Kalispell

• Score: 72/100
• State rank: #61
• US rank: #6399

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kalispell, MT
• County: Flathead County · 108,002 people
• City population: 63,161
• Metro: Kalispell, MT
• Population (ZIP): 63,161
• Household income: $72,523
• Rent vs Own: 30.0% rent · 70.0% own
• Severe rent burden: 7% of renters

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Population outlook (Flathead County) Hauer SSP2

• Today (2025): 108,002 people
• By 2030: 113,362 · +5.0%
• By 2040: 122,245 · +13.2%
• By 2050: 129,517 · +19.9%
• By 2075: 146,737 · +35.9%
• By 2100: 155,045 · +43.6%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 6% Hispanic / Latino 4% Native American 1% Asian 1%
• Common ancestry: Portuguese 9% Slovak 3% Lithuanian 3%
• Foreign-born: 3% · Canada, China
• Languages at home: 96% English-only · Spanish 1% German/W. Germanic 0%

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Political lean MEDSL · Flathead

• 2024 margin: Solid R (+33.8) · D 31.8% · R 65.5% · Other 2.7%
• 2008→2024 swing: -12.2pp toward R · 2008: -21.6pp · 2024: -33.8pp
• All cycles: 2024: R+33.8 2020: R+29.9 2016: R+36.5 2012: R+33.4 2008: R+21.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -698.78%
• Current HPI: 225.6792
• Rent YoY: ▲ 2.41%
• Metro: Kalispell, MT
• State GDP YoY: ▲ 3.41%
• F500 in state: 2

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Industry mix (Fortune 500 HQ in MT)

Industry	F500 HQs	Revenue
▸Technology / Analytics	1	$2B

Property features AI

Finance

• Financial info: Property is a duplex with two units producing rent: Unit A currently $1,800, Unit B currently $1,700

Exterior

• Parking: Alley access for parking/garage
• Utilities: Public waterPublic sewerNatural gas available and connected
• Home design: Duplex (residential income property)
• Construction: Finished concrete basement
• Exterior features: Alley accessResidential zoning (WR-4)

Interior

• Kitchen: RangeRefrigerator
• Bedrooms: Unit A: 3 bedrooms (1 on main level, 2 on lower level)Unit B: 3 bedrooms (2 on main level, 1 on lower level)
• Bathrooms: Unit A: 2 full bathroomsUnit B: 2 bathrooms (1 full on main level, 1 three-quarter on lower level)
• Heating & cooling: Natural gas forced-air heating
• Interior features: High-speed internet
• Laundry & utility: Washer hookupWasherDryer

Price history

+195.9% since first listed

14 events — show timeline

• 2026-06-13 Contingent — MRMLS
• 2026-06-03 Relisted — MRMLS
• 2026-05-22 Contingent — MRMLS
• 2026-04-17 Listed $500,000 MRMLS
• 2025-07-30 Sold (Public Records) — Public Records
• 2024-02-10 Rental Removed $1,995 RENT.
• 2024-01-10 Listed for Rent $1,995 RENT.
• 2024-01-03 Rental Removed $1,995 RENT.
• 2023-12-19 Price Changed $1,995 RENT.
• 2023-12-04 Listed for Rent $2,150 RENT.
• 2023-07-21 Sold (Public Records) — Public Records
• 2022-02-23 Listed $591,500 MRMLS
• 2020-03-09 Sold (MLS) — MRMLS
• 2020-02-19 Listed $169,000 MRMLS

Property tax history

+19.9%/yr

Latest (2025): $4,012 · -14.2% YoY. Source: county tax records.