TBD Iowa Ave · Butte-Silver Bow (balance), MT 59701

$60,000

2 bd · 1.0 ba · 1,027 sqft · Land · 28 Days on market

Built 1889 5,994 sqft lot

---

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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +5.0/5.0
• Schools +3.1/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Two city lots for sale in town, level ground with water, sewer, and electricity in the area

Key facts

• Sewer close by
• Leveled
• Fenced

Tags

• POWER CLOSE BY
• WATER CLOSE BY
• SEWER CLOSE BY
• FENCED
• LEVELED
• READY TO BUILD

Property features AI

Finance

• Other: Lot size approximately 5,994 sq ft (0.1376 acres); Directions: From Front Street turn south onto Kaw Avenue, turn east on George to Iowa Avenue

Exterior

• Utilities: Electricity available; Natural gas available
• Home design: Land (Unimproved); Zoning: R1
• Exterior features: Chain link fencing; Paved road access

Interior

• Bathrooms: 1 full bathroom
• Interior features: Level topography

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath land listed at $60k.

Deal economics

• At list price, monthly cash flow is $643 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $59k (1.5% below list) — sets the bar for market timing.
• Cap rate 19.2% vs local median 2.9% in Butte-Silver Bow (balance) — 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: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Butte H S (town): math 24% / reading 50% proficiency, ranked #73 of 116 in MT (top 63%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+10.4%/yr); 320 active listings in the ZIP; 109 units permitted in Silver Bow County in 2024 (25 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $415 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Silver Bow County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $17k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($59k) is reasonable based on typical stale-listing flexibility.
• 2 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.

Risks & watch-outs

• Watch-outs: built in 1889 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $59,100 (1.5% below list)

Questions for the listing agent

1. Built in 1889 — 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. 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.
4. 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.
5. 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.

Investment metrics

• 1% rule: 2.23% ✓
• Cap rate: 19.16%
• Cash-on-cash: 45.95%
• DSCR: 3.04
• GRM: 3.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 48.8%
• Equity multiple: 3.28×
• Total profit: $38,351
• Equity at exit: $8,946

10-year hold

• IRR: 56.4%
• Equity multiple: 8.05×
• Total profit: $118,454
• Equity at exit: $5,188

Cash invested: $16,800 (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 59701

• Home prices YoY: -30.7%
• Rents YoY: 10.4%
• Active inventory: 320
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $1,339 medium
• Mortgage (P&I): −$315
• Tax est. 1.5%: −$75 /mo · $900/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$281
• Net cashflow: $643

Break-even live

Break-even rent $525

Max offer price $60,000

Occupancy floor 47%

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-19
   days on market $60,000 Active 28 DOM
2. 2026-06-18
   days on market $60,000 Active 27 DOM
3. 2026-06-17
   days on market $60,000 Active 26 DOM
4. 2026-06-16
   days on market $60,000 Active 25 DOM
5. 2026-06-15
   days on market $60,000 Active 24 DOM
6. 2026-06-14
   days on market $60,000 Active 22 DOM
7. 2026-06-12
   days on market $60,000 Active 21 DOM
8. 2026-06-09
   days on market $60,000 Active 18 DOM
9. 2026-06-08
   days on market $60,000 Active 17 DOM
10. 2026-06-07
    days on market $60,000 Active 16 DOM
11. 2026-06-05
    days on market $60,000 Active 13 DOM
12. 2026-06-03
    days on market $60,000 Active 12 DOM
13. 2026-06-02
    days on market $60,000 Active 11 DOM
14. 2026-06-01
    days on market $60,000 Active 10 DOM
15. 2026-05-31
    days on market $60,000 Active 9 DOM
16. 2026-05-30
    days on market $60,000 Active 8 DOM
17. 2026-05-22
    listed $60,000 Active

    Show marketing remark (91 chars)

    Two city lots for sale in town, level ground with water, sewer, and electricity in the area

18. 2026-05-22
    listed $60,000 Active 91-char remark

    Show marketing remark (91 chars)

    Two city lots for sale in town, level ground with water, sewer, and electricity in the area

ⓘ 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

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 10% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 2/10 Low 7 d/yr ≥86°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 19 unhealthy d/yr today · 26 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,071
• − Mortgage interest: −$3,361
• − Property taxes: −$900
• − Insurance: −$300
• − Repairs & maintenance: −$1,286
• − Management: −$1,286
• − Depreciation: −$1,745
• Taxable income: $7,193
• Est. tax owed @ 24.0%: −$1,726
• After-tax cash flow: $5,994/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: Butte H S
• NCES district ID: 3005310
• Math proficiency: 24% ▼ -7.00%
• Reading proficiency: 50% ▲ 1.00%
• Median HH income: $37,852
• Composite: 30.74/100
• National rank: #6162
• State rank: #73 of 116 in MT

Livability — Butte-Silver Bow (balance)

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Butte-Silver Bow (balance), MT
• County: Silver Bow County · 34,232 people
• City population: 35,306
• Metro: Butte-Silver Bow, MT
• Population (ZIP): 34,232
• Household income: $60,437
• Rent vs Own: 30.3% rent · 69.7% own
• Severe rent burden: 1060.0

Population outlook (Silver Bow County) Hauer SSP2

• Today (2025): 35,745 people
• By 2030: 36,359 · +1.7%
• By 2040: 37,490 · +4.9%
• By 2050: 38,593 · +8.0%
• By 2075: 43,773 · +22.5%
• By 2100: 48,513 · +35.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 6% Hispanic / Latino 5% Native American 2%
• Common ancestry: Portuguese 5% Lithuanian 3% Slovak 2%
• Foreign-born: 1%
• Languages at home: 97% English-only · Korean 1% Arabic 1%

Political lean MEDSL · Silver Bow

• 2024 margin: Lean D (+7.0) · D 51.5% · R 44.5% · Other 4.0%
• 2008→2024 swing: -33.4pp toward R · 2008: 40.4pp · 2024: 7.0pp
• All cycles: 2024: D+7.0 2020: D+14.1 2016: D+14.2 2012: D+32.5 2008: D+40.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -119.08%
• Current HPI: 268.4972
• Rent YoY: ▲ 10.44%
• Metro: Butte-Silver Bow, 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

+0.0% since first listed

2 events — show timeline

• 2026-05-22 Listed $60,000 MRMLS
• 2026-05-22 Listed $60,000 BSCMLS