5 Ridgewood Dr · Evergreen, MT 59901

$57,500

2 bd · 1.0 ba · 784 sqft · Manufactured · 49 Days on market

Built 1977 Fair condition Est $82k · 29% under $735/mo HOA · 39% of rent

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +3.5/10.0
• Livability +3.4/5.0
• Rent growth +3.1/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Affordable, Move-In Ready Montana Living in Ridgewood Terrace — Furnished & Pet Friendly! Welcome home to this charming & extensively updated 2-bedroom, 1-bathroom home in the sought-after Ridgewood Terrace community. Built in 1977 by Fleetwood & offering ~784 square feet of single-level living, this well-cared-for property is a fantastic opportunity for first-time buyers, downsizers, or anyone seeking a budget-friendly foothold in beautiful Northwest Montana. Step onto the covered front porch & into a functional floor plan featuring the primary bedroom & all utilities on the main floor. The kitchen comes equipped w/ a refrigerator, range, microwave, & a dedicated laundry hookup adds everyday ease. Durable smart board siding & a metal roof mean low-maintenance living, while electric forced-air heat keeps things cozy through Montana winters. This home has been thoughtfully improved from top to bottom. CAP went through the entire home & completed numerous upgrades in 2023, including new blown-in insulation in the roof & redone floor insulation, new windows, new water heater insulation and door, new back door & frame, new dryer vent, & a furnace inspection confirming it is in good condition. The owner has added many additional improvements, including a new bathtub & bathroom countertops (2021), new kitchen base cabinets & countertops (2024), & new flooring throughout, installed 2022–2026. Set on a large lot, the property offers wooded surroundings w/ quick access to Highway 2. Residents of Ridgewood Terrace enjoy community amenities including a park, RV/boat storage, road snow removal/maintenance, & on-site management—all covered by the monthly fee on this leased-land community. Furniture included. Bonus: Owner financing is available w/ a negotiable down payment, making homeownership within reach. W/ annual taxes of just $140, this turn-key home is hard to beat at the price. Please note: Buyers must be approved by park before closing.

Key facts

• Covered front porch
• Metal roof
• Built 1977

Tags

• COVERED FRONT PORCH
• FUNCTIONAL FLOOR PLAN
• DEDICATED LAUNDRY HOOKUP
• DURABLE SMART BOARD SIDING
• METAL ROOF
• ELECTRIC FORCED-AIR HEAT

🏷️ Possibly a rental listed for sale. The $57,500 price doesn't fit this home's estimated sale value (~$81,536) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $58k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $344 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $58k).
• Recommended offer: $56k (3.0% below list) — sets the bar for market timing.
• Cap rate 13.5% vs local median 2.1% in Evergreen — 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 68/100 on livability (#89 in MT) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A; Watch: schools C-, crime C-, amenities F.
• 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.
• Market conditions: Rents rising (+2.4%/yr); 683 active listings in the ZIP; 281 units permitted in Flathead County in 2024 (80 in 5+ unit buildings).
• This rent runs 31% of the median local income ($73k/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 $398 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 2.4% rent growth), your $16k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($56k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 39% of rent.

Recommended offer $55,775 (3.0% below list)

Questions for the listing agent

1. It's been on market 49 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. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 3.25% ✓
• Cap rate: 13.47%
• Cash-on-cash: 25.62%
• DSCR: 2.14
• GRM: 2.6

CMA / ARV

• ARV (on-the-fly): $81,536
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4 Ridgewood Dr	0.01mi	2/1.0	672 (-14%)	22mo	$70,000	$104	57
86 Ridgewood Dr	0.17mi	2/2.0	880 (+12%)	14mo	$90,000	$102	56

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: 18.5%
• Equity multiple: 1.74×
• Total profit: $11,951
• Equity at exit: $8,573

10-year hold

• IRR: 26.4%
• Equity multiple: 3.24×
• Total profit: $36,074
• Equity at exit: $4,972

Cash invested: $16,100 (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: 683
• Price-to-rent: 2.6×

Monthly cashflow live

• Estimated rent: $1,868 medium
• Mortgage (P&I): −$302
• Tax est. 1.5%: −$72 /mo · $862/yr
• Insurance: −$24
• HOA: −$735
• Vacancy / Maint / Mgmt: −$392
• Net cashflow: $344

Break-even live

Break-even rent $1,433

Max offer price $57,500

Occupancy floor 77%

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: $14,375
• Closing costs: $1,725
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $735 · $8,820/yr
• Likely covers: waterelectricsnow removal

Listing history 19 events

1. 2026-06-19
   days on market $57,500 Active 49 DOM
2. 2026-06-18
   days on market $57,500 Active 48 DOM
3. 2026-06-17
   days on market $57,500 Active 47 DOM
4. 2026-06-17
   price $57,500 Active 46 DOM
5. 2026-06-16
   days on market $59,900 Active 46 DOM
6. 2026-06-15
   days on market $59,900 Active 45 DOM
7. 2026-06-14
   days on market $59,900 Active 43 DOM
8. 2026-06-13
   days on market $59,900 Active 42 DOM
9. 2026-06-10
   days on market $59,900 Active 40 DOM
10. 2026-06-09
    days on market $59,900 Active 39 DOM
11. 2026-06-08
    days on market $59,900 Active 38 DOM
12. 2026-06-07
    days on market $59,900 Active 37 DOM
13. 2026-06-05
    days on market $59,900 Active 34 DOM
14. 2026-06-03
    days on market $59,900 Active 33 DOM
15. 2026-06-02
    days on market $59,900 Active 32 DOM
16. 2026-06-01
    days on market $59,900 Active 31 DOM
17. 2026-05-31
    days on market $59,900 Active 30 DOM
18. 2026-05-30
    days on market $59,900 Active 29 DOM
19. 2026-04-30
    listed $59,900 Active 2069-char remark

    Show marketing remark (2069 chars)

    Affordable, Move-In Ready Montana Living in Ridgewood Terrace — Furnished & Pet Friendly! Welcome home to this charming & extensively updated 2-bedroom, 1-bathroom home in the sought-after Ridgewood Terrace community. Built in 1977 by Fleetwood & offering ~784 square feet of single-level living, this well-cared-for property is a fantastic opportunity for first-time buyers, downsizers, or anyone seeking a budget-friendly foothold in beautiful Northwest Montana. Step onto the covered front porch & into a functional floor plan featuring the primary bedroom & all utilities on the main floor. The kitchen comes equipped w/ a refrigerator, range, microwave, & a dedicated laundry hookup adds everyday ease. Durable smart board siding & a metal roof mean low-maintenance living, while electric forced-air heat keeps things cozy through Montana winters. This home has been thoughtfully improved from top to bottom. CAP went through the entire home & completed numerous upgrades in 2023, including new blown-in insulation in the roof & redone floor insulation, new windows, new water heater insulation and door, new back door & frame, new dryer vent, & a furnace inspection confirming it is in good condition. The owner has added many additional improvements, including a new bathtub & bathroom countertops (2021), new kitchen base cabinets & countertops (2024), & new flooring throughout, installed 2022–2026. Set on a large lot, the property offers wooded surroundings w/ quick access to Highway 2. Residents of Ridgewood Terrace enjoy community amenities including a park, RV/boat storage, road snow removal/maintenance, & on-site management—all covered by the monthly fee on this leased-land community. Furniture included. Bonus: Owner financing is available w/ a negotiable down payment, making homeownership within reach. W/ annual taxes of just $140, this turn-key home is hard to beat at the price. Please note: Buyers must be approved by park before closing.

ⓘ 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 4/10 Moderate FEMA zone X (shaded) · 22% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥90°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 8/10 Severe 14 unhealthy d/yr today · 17 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,422
• − Mortgage interest: −$3,221
• − Property taxes: −$862
• − Insurance: −$288
• − Repairs & maintenance: −$1,794
• − Management: −$1,794
• − HOA: −$8,820
• − Depreciation: −$1,673
• Taxable income: $3,971
• Est. tax owed @ 24.0%: −$953
• After-tax cash flow: $3,172/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

This manufactured home requires moderate repairs and updates to improve its condition and value. Painting, updating cabinets, and landscaping are key areas for investment.

Repairs flagged

• Minor Kitchen cabinets — Worn appearance
• Minor Kitchen countertops — Need updating
• Minor Paint touch-up — Faded in some areas
• Minor Landscaping — Could be improved with some landscaping

Value-add opportunities

• Both Painting and updating kitchen cabinets — Improves appearance and value
• Both Landscaping — Enhances curb appeal and value
• Both Window cleaning — Improves home's appearance and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Worn appearance	Minor	$500–3,000
Kitchen countertops · Need updating	Minor	$500–3,000
Paint touch-up · Faded in some areas	Minor	$500–3,000
Landscaping · Could be improved with some landscaping	Minor	$500–3,000
Total estimated repair cost · 4 items		$2,000–12,000

Value-add ROI direction

• Both Painting and updating kitchen cabinets — Improves appearance and value ↑
• Both Landscaping — Enhances curb appeal and value ↑
• Both Window cleaning — Improves home's appearance 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: 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

Livability — Evergreen

• Score: 68/100
• State rank: #89
• US rank: #9272

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Evergreen, MT
• County: Flathead County · 94,027 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: 1577.0

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%

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%

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

Industry mix (Fortune 500 HQ in MT)

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

Price history

1 event — show timeline

• 2026-04-30 Listed $59,900 MRMLS