35 Gallahad Way · King Arthur Park, MT 59718

$200,000

4 bd · 2.0 ba · 1,716 sqft · Manufactured · 40 Days on market

Built 2000 Poor condition Est $196k · at est.

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +6.5/15.0
• Schools +5.2/10.0
• Livability +3.9/5.0
• Rent growth +2.3/5.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This is one of the most stunning mobiles I have been in. Very well maintained with extra large rooms. 3 Bedrooms have huge walk in closets. Fresh paint in and out . Almost new windows and roof. Spacious work shop with electricity and extra storage shed, also carport. You will be surprised at the space.

Key facts

• Spacious kitchen
• Large dining area
• Great bridge views

Tags

• CORNER LOT
• NEXT TO A SMALL CREEK
• GREAT BRIDGE VIEWS
• FULLY FENCED BACKYARD
• SPACIOUS KITCHEN
• LARGE DINING AREA

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath manufactured listed at $200k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $200k).
• Recommended offer: $194k (3.0% below list) — sets the bar for market timing.
• Cap rate 13.5% vs local median 2.8% in King Arthur Park — 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 78/100 on livability (#18 in MT, #2,457 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: health & safety C-, amenities F.
• Bozeman Elementary (town): math 56% / reading 66% proficiency, ranked #7 of 116 in MT (top 6%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 18% free/reduced lunch — higher-income household profile.
• Zoned schools: Meadowlark Elementary (math 64% / reading 64%, grade B, #32 of 293 statewide, top 11%, 495 students, 0% FRL); Sacajawea Middle School (math 49% / reading 67%, grade B, #11 of 146 statewide, top 7%, 826 students, 0% FRL); Bozeman High School (math 50% / reading 81%, grade B, #3 of 132 statewide, top 2%, 1,280 students, 0% FRL) — zoned schools average 0% FRL vs 18% district-wide (18 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents soft (-0.6%/yr); 522 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,706 units permitted in Gallatin County in 2024 (533 in 5+ unit buildings).
• This rent runs 40% of the median local income ($99k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Gallatin County population projected at +61% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $56k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($194k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 12y 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.

Recommended offer $194,000 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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. 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.
6. 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.
7. 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: 1.63% ✓
• Cap rate: 13.47%
• Cash-on-cash: 25.65%
• DSCR: 2.14
• GRM: 5.1

CMA / ARV

• ARV (on-the-fly): $195,624
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
47 Merlin Dr	0.09mi	3/2.0 (-1)	1,496 (-13%)	10mo	$170,000	$114	61

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 15.8%
• Equity multiple: 1.61×
• Total profit: $34,307
• Equity at exit: $29,821

10-year hold

• IRR: 22.2%
• Equity multiple: 2.63×
• Total profit: $91,262
• Equity at exit: $17,292

Cash invested: $56,000 (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 59718

• Rents YoY: -0.6%
• Active inventory: 522
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $3,265 medium
• Mortgage (P&I): −$1,049
• Tax est. 1.5%: −$250 /mo · $3,000/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$686
• Net cashflow: $1,197

Break-even live

Break-even rent $1,750

Max offer price $200,000

Occupancy floor 58%

Sensitivity live

Price	-10% $1,335	-5% $1,266	+0% $1,197	+5% $1,128	+10% $1,059
Rent	-10% $939	-5% $1,068	+0% $1,197	+5% $1,326	+10% $1,455
Rate	-1.0pp $1,298	-0.5pp $1,248	base $1,197	+0.5pp $1,145	+1.0pp $1,092

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
410 Pond Lily Dr Unit 418 Pond Lily Bozeman, MT	3.0	2.5	1630	$3,200	$1.96	22d	1	0.72mi
1620 Victory St Bozeman, MT	3.0	2.0	1190	$3,325	$2.79	22d	1	0.80mi
4650 W Garfield St Bozeman, MT	1.0–3.0	1.0–2.0	920	$3,206	$3.48	22d	18	0.92mi
4555 Fallon St Bozeman, MT	1.0–3.0	1.0–2.0	987	$3,342	$3.39	22d	25	1.16mi

Listing history 20 events

1. 2026-06-21
   days on market $200,000 Active 40 DOM
2. 2026-06-19
   days on market $200,000 Active 38 DOM
3. 2026-06-18
   days on market $200,000 Active 37 DOM
4. 2026-06-17
   days on market $200,000 Active 36 DOM
5. 2026-06-16
   days on market $200,000 Active 35 DOM
6. 2026-06-15
   days on market $200,000 Active 34 DOM
7. 2026-06-14
   days on market $200,000 Active 32 DOM
8. 2026-06-13
   days on market $200,000 Active 31 DOM
9. 2026-06-10
   days on market $200,000 Active 29 DOM
10. 2026-06-09
    days on market $200,000 Active 28 DOM
11. 2026-06-08
    days on market $200,000 Active 27 DOM
12. 2026-06-07
    days on market $200,000 Active 26 DOM
13. 2026-06-05
    days on market $200,000 Active 23 DOM
14. 2026-06-02
    days on market $200,000 Active 21 DOM
15. 2026-06-01
    days on market $200,000 Active 20 DOM
16. 2026-05-31
    days on market $200,000 Active 19 DOM
17. 2026-05-30
    days on market $200,000 Active 18 DOM
18. 2026-05-12
    listed $200,000 Active
19. 2014-08-01
    soldstatus 303-char remark

    Show marketing remark (303 chars)

    This is one of the most stunning mobiles I have been in. Very well maintained with extra large rooms. 3 Bedrooms have huge walk in closets. Fresh paint in and out . Almost new windows and roof. Spacious work shop with electricity and extra storage shed, also carport. You will be surprised at the space.

20. 2014-05-21
    listed $54,000 303-char remark

    Show marketing remark (303 chars)

    This is one of the most stunning mobiles I have been in. Very well maintained with extra large rooms. 3 Bedrooms have huge walk in closets. Fresh paint in and out . Almost new windows and roof. Spacious work shop with electricity and extra storage shed, also carport. You will be surprised at the space.

ⓘ 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 4/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥88°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 5/10 Major 8 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $39,176
• − Mortgage interest: −$11,203
• − Property taxes: −$3,000
• − Insurance: −$1,000
• − Repairs & maintenance: −$3,134
• − Management: −$3,134
• − Depreciation: −$5,818
• Taxable income: $11,887
• Est. tax owed @ 24.0%: −$2,853
• After-tax cash flow: $11,510/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 · 1 photo

Poor 20/100 Extensive rehab

This manufactured home requires extensive repairs and renovations to bring it up to a livable condition. Significant work is needed on the exterior, interior, and mechanical systems.

Repairs flagged

• Major exterior siding — Significant wear and tear
• Major roof — Siding condition suggests potential leak
• Major flooring — No visible flooring, but overall condition suggests need for replacement
• Major interior walls/paint — No visible interior, but overall condition suggests need for repainting
• Major kitchen — No visible kitchen, but overall condition suggests need for renovation
• Major bathrooms — No visible bathrooms, but overall condition suggests need for renovation
• Major HVAC/mechanicals — No visible HVAC/mechanicals, but overall condition suggests need for replacement
• Major windows — No visible windows, but overall condition suggests need for replacement
• Major foundation/structure — No visible foundation/structure, but overall condition suggests need for inspection

Value-add opportunities

• Both exterior siding replacement — Improves curb appeal and structural integrity
• Both roof replacement — Fixes potential leak and enhances structural integrity
• Both flooring replacement — Enhances living space and improves comfort
• Both interior painting — Enhances interior aesthetics and value
• Both kitchen renovation — Modernizes space and increases functionality
• Both bathroom renovation — Modernizes space and increases functionality
• Both HVAC/mechanical replacement — Improves comfort and energy efficiency
• Both window replacement — Enhances energy efficiency and aesthetics
• Both foundation inspection — Ensures structural integrity and safety

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Significant wear and tear	Major	$15,000–50,000
roof · Siding condition suggests potential leak	Major	$15,000–50,000
flooring · No visible flooring, but overall condition suggests need for replacement	Major	$15,000–50,000
interior walls/paint · No visible interior, but overall condition suggests need for repainting	Major	$15,000–50,000
kitchen · No visible kitchen, but overall condition suggests need for renovation	Major	$15,000–50,000
bathrooms · No visible bathrooms, but overall condition suggests need for renovation	Major	$15,000–50,000
HVAC/mechanicals · No visible HVAC/mechanicals, but overall condition suggests need for replacement	Major	$15,000–50,000
windows · No visible windows, but overall condition suggests need for replacement	Major	$15,000–50,000
foundation/structure · No visible foundation/structure, but overall condition suggests need for inspection	Major	$15,000–50,000
Total estimated repair cost · 9 items		$135,000–450,000

Value-add ROI direction

• Both exterior siding replacement — Improves curb appeal and structural integrity ↑
• Both roof replacement — Fixes potential leak and enhances structural integrity ↑
• Both flooring replacement — Enhances living space and improves comfort ↑
• Both interior painting — Enhances interior aesthetics and value ↑
• Both kitchen renovation — Modernizes space and increases functionality ↑
• Both bathroom renovation — Modernizes space and increases functionality ↑
• Both HVAC/mechanical replacement — Improves comfort and energy efficiency ↑
• Both window replacement — Enhances energy efficiency and aesthetics ↑
• Both foundation inspection — Ensures structural integrity and safety ↑

ⓘ 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: Bozeman Elementary
• NCES district ID: 3004560
• Math proficiency: 56% ▼ -5.00%
• Reading proficiency: 66% ▼ -4.00%
• Median HH income: $51,664
• Composite: 52.03/100
• National rank: #1635
• State rank: #7 of 116 in MT

Livability — King Arthur Park

• Score: 78/100
• State rank: #18
• US rank: #2457

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: King Arthur Park, MT
• County: Gallatin County · 108,510 people
• Metro: Bozeman, MT
• Population (ZIP): 44,585
• Household income: $99,123
• Rent vs Own: 44.5% rent · 55.5% own
• Severe rent burden: 1786.0

Population outlook (Gallatin County) Hauer SSP2

• Today (2025): 129,625 people
• By 2030: 144,940 · +11.8%
• By 2040: 176,266 · +36.0%
• By 2050: 209,250 · +61.4%
• By 2075: 294,207 · +127.0%
• By 2100: 360,558 · +178.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 5% Hispanic / Latino 5% Asian 1%
• Common ancestry: Portuguese 7% Slovak 4% Italian 3%
• Foreign-born: 4% · Canada, China
• Languages at home: 95% English-only · Spanish 3% Chinese 1%

Political lean MEDSL · Gallatin

• 2024 margin: Toss-up / Even · D 50.0% · R 46.8% · Other 3.2%
• 2008→2024 swing: -0.2pp no change · 2008: 3.4pp · 2024: 3.2pp
• All cycles: 2024: D+3.2 2020: D+7.5 2016: D+1.0 2012: R+5.3 2008: D+3.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -316.82%
• Current HPI: 272.8072
• Rent YoY: ▼ -0.61%
• Metro: Bozeman, 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

+270.4% since first listed

3 events — show timeline

• 2026-05-12 Listed $200,000 FSBO.com
• 2014-08-01 Sold (MLS) — BSCMLS
• 2014-05-21 Listed $54,000 BSCMLS