1320 Greenwood Ct

Bonner-West Riverside, MT 59802

$39,500B-

2 bd · 1.0 ba · 744 sqft · Built 1973 · Manufactured · Active · 4 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,356/mo
• Mortgage (P&I): −$207
• Tax + insurance: −$132
• HOA: −$0
• Vac / Maint / Mgmt: −$285
• Net cashflow: $732/mo
• Annual: $8,782/yr
• Cap rate: 30.54%
• Cash-on-cash: 86.61%
• DSCR: 4.85
• 1% rule: 3.43%
• Cash to close: $11,060

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $40k.
• At list price, monthly cash flow is $732 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $40k).
• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $273 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Missoula H S (urban): math 31% / reading 52% proficiency, ranked #53 of 116 in MT (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: flood insurance adds $66/mo.
• Market conditions: Rents rising fast (+5.9%/yr); 144 active listings in the ZIP; 773 units permitted in Missoula County in 2024 (354 in 5+ unit buildings).
• Missoula County population projected at +23% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts since 2y 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.
• At projected returns (-3.0% appreciation + 5.9% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.
• Climate carrying-cost: severe flood risk; severe wildfire risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.