4308 Brockton Ave SW · Billings, MT 59101

$55,000

2 bd · 2.0 ba · 1,120 sqft · Other · 29 Days on market

Built 1989 $500/mo HOA · 36% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Rent growth +3.5/5.0
• Schools +3.2/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Key facts

• Private well
• Storage shed
• Covered front deck

Tags

• OPEN KITCHEN
• COVERED FRONT DECK
• FULLY FENCED DOUBLE LOT
• STORAGE SHED
• PRIVATE WELL

Property features AI

Finance

• HOA & community: Homeowners association with a $500 monthly fee

Exterior

• Parking: No dedicated parking
• Utilities: Public water; Public sewer
• Home design: Manufactured home (single family residence); One story
• Construction: Masonite exterior; Asphalt shingle roof
• Exterior features: Front porch; Fenced yard; Shed(s) on the property

Interior

• Kitchen: Includes dishwasher, microwave, oven, range, refrigerator
• Bedrooms: 2 bedrooms on the main level
• Bathrooms: 2 full bathrooms (both on the main level)
• Heating & cooling: Natural gas forced air heating; Window unit cooling
• Interior features: Dishwasher; Microwave; Oven; Range; Refrigerator

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath other listed at $55k.

Deal economics

• At list price, monthly cash flow is $256 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Recommended offer: $54k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.9% 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: Billings West High School (math 34% / reading 52%, grade F, #35 of 132 statewide, top 27%, 2,269 students, 0% FRL).
• Market conditions: Rents rising (+4.0%/yr); 279 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 1,401 units permitted in Yellowstone County in 2024 (281 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $380 of loan paydown is wiped out by about $2k 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 + 4.0% rent growth), your $15k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($54k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 36% of rent.

Recommended offer $54,175 (1.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 2.56% ✓
• Cap rate: 11.88%
• Cash-on-cash: 19.96%
• DSCR: 1.89
• GRM: 3.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.96% rent growth · sell at horizon

5-year hold

• IRR: 14.4%
• Equity multiple: 1.59×
• Total profit: $9,082
• Equity at exit: $8,201

10-year hold

• IRR: 24.6%
• Equity multiple: 3.33×
• Total profit: $35,918
• Equity at exit: $4,755

Cash invested: $15,400 (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 59101

• Rents YoY: 4.0%
• Active inventory: 279
• Price-to-rent: 3.3×

Monthly cashflow live

• Estimated rent: $1,406 high
• Mortgage (P&I): −$288
• Tax from tax record: −$43 /mo · $517/yr
• Insurance: −$23
• HOA: −$500
• Vacancy / Maint / Mgmt: −$295
• Net cashflow: $256

Break-even live

Break-even rent $1,082

Max offer price $55,000

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4239 Phillip St Billings, MT	3.0	1.0	1500	$1,950	$1.30	21d	1	0.33mi
635 Cook Ave Billings, MT	2.0	1.0	894	$975	$1.09	13d	1	1.34mi
743 Cook Ave Apt B Billings, MT	2.0	1.0	900	$1,400	$1.56	13d	1	1.40mi
238 Terry Ave Unit 2 Billings, MT	2.0	1.0	768	$1,275	$1.66	13d	1	1.45mi
238 Terry Ave Unit 1 Billings, MT	2.0	1.0	768	$1,475	$1.92	13d	1	1.45mi
421 5th St W Billings, MT	1.0	1.0	778	$975	$1.25	13d	1	1.46mi
613 S 34th St Billings, MT	1.0	1.0	714	$1,100	$1.54	21d	1	1.47mi
5331 Frontier Dr Billings, MT	2.0	1.0	800	$1,095	$1.37	13d	1	1.48mi

HOA detail

• Monthly dues: $500 · $6,000/yr

Listing history 17 events

1. 2026-06-19
   days on market $55,000 Active 29 DOM
2. 2026-06-18
   days on market $55,000 Active 28 DOM
3. 2026-06-17
   days on market $55,000 Active 27 DOM
4. 2026-06-16
   days on market $55,000 Active 26 DOM
5. 2026-06-15
   days on market $55,000 Active 25 DOM
6. 2026-06-14
   days on market $55,000 Active 23 DOM
7. 2026-06-13
   days on market $55,000 Active 22 DOM
8. 2026-06-10
   days on market $55,000 Active 20 DOM
9. 2026-06-09
   days on market $55,000 Active 19 DOM
10. 2026-06-08
    days on market $55,000 Active 18 DOM
11. 2026-06-07
    days on market $55,000 Active 17 DOM
12. 2026-06-05
    days on market $55,000 Active 14 DOM
13. 2026-06-02
    days on market $55,000 Active 12 DOM
14. 2026-06-01
    days on market $55,000 Active 11 DOM
15. 2026-05-31
    days on market $55,000 Active 10 DOM
16. 2026-05-30
    days on market $55,000 Active 9 DOM
17. 2026-05-21
    listed $55,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast MT · Resets to sale price

• Current annual tax: $517 · $43/mo
• Projected year-2 tax: $517 · $43/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥95°F today · 15 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: $16,868
• − Mortgage interest: −$3,081
• − Property taxes: −$517
• − Insurance: −$275
• − Repairs & maintenance: −$1,349
• − Management: −$1,349
• − HOA: −$6,000
• − Depreciation: −$1,600
• Taxable income: $2,697
• Est. tax owed @ 24.0%: −$647
• After-tax cash flow: $2,426/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.

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): 42,250
• Household income: $58,598
• Rent vs Own: 43.6% rent · 56.4% own
• Severe rent burden: 1534.0

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 (75%)
• Race & ethnicity: White 75% Hispanic / Latino 9% Native American 9% Two or more races 8% Black 1%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Portuguese 6% Italian 2% Lithuanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% 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: ▼ -191.74%
• Current HPI: 201.7039
• Rent YoY: ▲ 3.96%
• 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

• 2026-05-21 Listed $55,000 BMTMLS

Property tax history

-1.5%/yr

Latest (2025): $517 · -19.5% YoY. Source: county tax records.