405 W 4th St

Fairview, MT 59221

$52,000B+

5 bd · 1.0 ba · 1,494 sqft · Built 1916 · SingleFamily · Active · 19 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,716/mo
• Mortgage (P&I): −$273
• Tax + insurance: −$134
• HOA: −$0
• Vac / Maint / Mgmt: −$360
• Net cashflow: $949/mo
• Annual: $11,393/yr
• Cap rate: 28.20%
• Cash-on-cash: 78.25%
• DSCR: 4.48
• 1% rule: 3.30%
• Cash to close: $14,560

Investor read

• This is a 5-bed/1.0-bath single-family listed at $52k.
• At list price, monthly cash flow is $949 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $52k).
• It's been on market 19 days — a 2% lower offer ($51k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $51k (1.5% below list) — sets the bar for market timing.
• In year one you build about $3k of equity ($360 loan paydown + $2k appreciation (4.7% local appreciation)).
• Location reads 72/100 on livability (#58 in MT) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D, amenities F, commute F.
• Fairview H S (rural): math 60% / reading 40% proficiency, ranked #69 of 339 in MT (top 20%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Fairview School (math 37% / reading 37%, grade F, #182 of 293 statewide, top 66%, 146 students, 0% FRL); Fairview 7-8 (math 15% / reading 44%, grade F, #102 of 146 statewide, top 72%, 36 students, 0% FRL); Fairview High School (math 30% / reading 30%, grade F, #61 of 132 statewide, top 49%, 116 students, 0% FRL).
• Zoned-school proficiency averages 32% at this address vs 50% district-wide (-18 pts) — the specific schools serving this property underperform the Fairview H S average; the district grade overstates school quality for this exact location.
• Watch-outs: property tax is 2.6% of price; built in 1916 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 7 active listings in the ZIP.
• Richland County population projected at +93% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (4.7% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~2 years — after that, you're playing with house money.

Questions for listing agent

• Built in 1916 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Crime grade is D 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?
• 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.