43 Prince Charles Dr · Billings, MT 59105

$25,000

2 bd · 1.0 ba · 910 sqft · Manufactured · 22 Days on market

Built 1981 Fair condition Est $49k · 49% under $600/mo HOA · 52% of rent

---

Why this score? — see what drove the C- 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 +15.0/30.0
• ARV discount +15.0/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +4.5/5.0
• Livability +4.0/5.0
• Schools +3.2/10.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Key facts

• New hot water heater
• 2 driveways
• New central air

Tags

• 2 DRIVEWAYS
• NEW CENTRAL AIR
• NEW HOT WATER HEATER
• NEAR AMENITIES

Property features AI

Finance

• HOA & community: Homeowners association with $600 monthly fee

Exterior

• Parking: No designated parking
• Utilities: Public water; Public sewer
• Home design: Single-story mobile home (residential); One level
• Construction: Mobile home construction
• Exterior features: No fencing

Interior

• Kitchen: Includes oven, range, refrigerator
• Bedrooms: 2 main-level bedrooms
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Central air conditioning; Natural gas heating; Hot water heat
• Interior features: Oven, Range, Refrigerator

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $25k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $141 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $25k).
• Recommended offer: $25k (1.5% below list) — sets the bar for market timing.
• Cap rate 13.0% vs local median 3.0% in Billings — 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 80/100 on livability (#10 in MT, #1,830 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+; Watch: crime F.
• Billings H S (urban): math 29% / reading 45% proficiency, ranked #69 of 116 in MT (top 60%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Skyview High School (math 26% / reading 39%, grade F, #56 of 132 statewide, top 42%, 1,602 students, 0% FRL).
• Market conditions: Rents rising fast (+7.8%/yr); 335 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,401 units permitted in Yellowstone County in 2024 (281 in 5+ unit buildings).
• This rent is only 18% of the median local income ($78k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $173 of loan paydown is wiped out by about $750 of value loss. Plan a longer hold.
• Yellowstone County population projected at +26% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 7.8% rent growth), your $7k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($25k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 52% of rent.

Recommended offer $24,625 (1.5% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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 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: 4.62% ✓
• Cap rate: 13.04%
• Cash-on-cash: 24.09%
• DSCR: 2.07
• GRM: 1.8

CMA / ARV

• ARV (on-the-fly): $49,140
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
26 Prince of Wales Dr	0.05mi	2/1.0	952 (+5%)	6mo	$40,000	$42	85
13 Prince of Wales Dr	0.08mi	3/2.0 (+1)	929 (+2%)	0mo	$55,000	$59	84
21 King Henry Pl	0.14mi	2/2.0	924 (+2%)	12mo	$50,000	$54	76
57 Prince Charles Dr	0.04mi	2/2.0	924 (+2%)	20mo	$49,500	$54	75
18 Prince Charles Dr	0.14mi	2/1.0	960 (+6%)	13mo	$49,500	$52	74
53 Prince of Wales Dr	0.18mi	3/1.5 (+1)	938 (+3%)	23mo	$74,900	$80	61
16 Prince of Wales Dr	0.07mi	2/1.0	784 (-14%)	18mo	$49,900	$64	59

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 · 7.8% rent growth · sell at horizon

5-year hold

• IRR: 32.1%
• Equity multiple: 2.59×
• Total profit: $11,140
• Equity at exit: $3,728

10-year hold

• IRR: 45.0%
• Equity multiple: 8.05×
• Total profit: $49,326
• Equity at exit: $2,162

Cash invested: $7,000 (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 59105

• Rents YoY: 7.8%
• Active inventory: 335
• Price-to-rent: 1.8×

Monthly cashflow live

• Estimated rent: $1,156 high
• Mortgage (P&I): −$131
• Tax est. 1.5%: −$31 /mo · $375/yr
• Insurance: −$10
• HOA: −$600
• Vacancy / Maint / Mgmt: −$243
• Net cashflow: $141

Break-even live

Break-even rent $978

Max offer price $25,000

Occupancy floor 83%

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: $6,250
• Closing costs: $750
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
504 Josephine Dr Billings, MT	2.0	2.0	1070	$1,075	$1.00	13d	1	0.35mi
66 W Antelope Trl Billings, MT	2.0	1.0	900	$1,195	$1.33	13d	1	0.46mi
611 Samuel Ct Billings, MT	1.0	1.0	650	$1,150	$1.77	13d	1	0.64mi
856 Dreamers Loop Billings, MT	1.0	1.0	650	$1,250	$1.92	13d	1	0.77mi
828 Yellowstone River Rd Unit 828YYR4 Billings, MT	2.0	1.0	925	$1,095	$1.18	44d	1	0.78mi
836 Yellowstone River Rd Billings, MT	2.0	1.0	800	$995	$1.24	44d	1	0.79mi

HOA detail

• Monthly dues: $600 · $7,200/yr

Listing history 17 events

1. 2026-06-19
   days on market $25,000 Active 22 DOM
2. 2026-06-18
   days on market $25,000 Active 21 DOM
3. 2026-06-17
   days on market $25,000 Active 20 DOM
4. 2026-06-16
   days on market $25,000 Active 19 DOM
5. 2026-06-15
   days on market $25,000 Active 18 DOM
6. 2026-06-14
   days on market $25,000 Active 16 DOM
7. 2026-06-13
   days on market $25,000 Active 15 DOM
8. 2026-06-10
   days on market $25,000 Active 13 DOM
9. 2026-06-09
   days on market $25,000 Active 12 DOM
10. 2026-06-08
    days on market $25,000 Active 11 DOM
11. 2026-06-07
    days on market $25,000 Active 10 DOM
12. 2026-06-05
    days on market $25,000 Active 7 DOM
13. 2026-06-02
    days on market $25,000 Active 5 DOM
14. 2026-06-01
    days on market $25,000 Active 4 DOM
15. 2026-05-31
    days on market $25,000 Active 3 DOM
16. 2026-05-30
    days on market $25,000 Active 2 DOM
17. 2026-05-27
    listed $25,000 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

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 5 d/yr ≥95°F today · 11 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,873
• − Mortgage interest: −$1,400
• − Property taxes: −$375
• − Insurance: −$125
• − Repairs & maintenance: −$1,110
• − Management: −$1,110
• − HOA: −$7,200
• − Depreciation: −$727
• Taxable income: $1,826
• Est. tax owed @ 24.0%: −$438
• After-tax cash flow: $1,248/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 · 5 photos

Fair 45/100 Moderate rehab

This manufactured home requires moderate renovations, including painting, flooring, and landscaping, to improve its condition and value.

Repairs flagged

• Major siding — Severe weathering and peeling
• Major paint — Peeling and chipping
• Major flooring — Worn carpet
• Major interior walls — Painted walls show significant wear

Value-add opportunities

• Both Painting and repainting — Enhances curb appeal and interior aesthetics
• Both New flooring — Improves living space and adds value
• Both Landscaping and curb appeal — Enhances property's visual appeal and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
siding · Severe weathering and peeling	Major	$15,000–50,000
paint · Peeling and chipping	Major	$15,000–50,000
flooring · Worn carpet	Major	$15,000–50,000
interior walls · Painted walls show significant wear	Major	$15,000–50,000
Total estimated repair cost · 4 items		$60,000–200,000

Value-add ROI direction

• Both Painting and repainting — Enhances curb appeal and interior aesthetics ↑
• Both New flooring — Improves living space and adds value ↑
• Both Landscaping and curb appeal — Enhances property's visual appeal and value ↑

ⓘ 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: Billings H S
• NCES district ID: 3003900
• Math proficiency: 29% ▼ -4.00%
• Reading proficiency: 45% ▲ 2.00%
• Median HH income: $49,863
• Composite: 31.93/100
• National rank: #5848
• State rank: #69 of 116 in MT

Livability — Billings

• Score: 80/100
• State rank: #10
• US rank: #1830

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Billings, MT
• County: Yellowstone County · 159,426 people
• City population: 147,124
• Metro: Billings, MT
• Population (ZIP): 35,480
• Household income: $78,014
• Rent vs Own: 24.1% rent · 75.9% own
• Severe rent burden: 788.0

Population outlook (Yellowstone County) Hauer SSP2

• Today (2025): 176,227 people
• By 2030: 185,619 · +5.3%
• By 2040: 203,543 · +15.5%
• By 2050: 221,100 · +25.5%
• By 2075: 266,931 · +51.5%
• By 2100: 301,141 · +70.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Hispanic / Latino 7% Two or more races 5% Native American 4%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Portuguese 10% Slovak 3% Lithuanian 3%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 1%

Political lean MEDSL · Yellowstone

• 2024 margin: Strong R (+27.1) · D 34.9% · R 62.0% · Other 3.1%
• 2008→2024 swing: -20.8pp toward R · 2008: -6.3pp · 2024: -27.1pp
• All cycles: 2024: R+27.1 2020: R+24.0 2016: R+27.1 2012: R+20.6 2008: R+6.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -314.00%
• Current HPI: 217.0836
• Rent YoY: ▲ 7.80%
• Metro: Billings, 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

1 event — show timeline

• 2026-05-27 Listed $25,000 BMTMLS