1301/1303 6th Ave S · Great Falls, MT 59405

$448,000

9 bd · 3.9 ba · 3,091 sqft · MultiFamily · 45 Days on market

Built 1900 Fair condition 5,009 sqft lot Est $352k · 27% over

---

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 +24.0/30.0
• DSCR +7.7/10.0
• 1% rule +6.2/10.0
• Livability +3.9/5.0
• Rent growth +3.4/5.0
• Schools +2.8/10.0
• Condition / age +2.2/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Key facts

• Remodeled
• Up down duplex
• Close to downtown

Tags

• CLOSE TO DOWNTOWN
• UP DOWN DUPLEX
• SINGLE FAMILY RESIDENCE
• REMODELED

Property features AI

Finance

• Financial info: Property type: Residential income (Triplex); Unit 1301 (lower): projected rent $950 when completed; Unit 1303: projected rent (actual rent listed for one unit at $2,000); 524 House unit: actual rent $1,100; Three rental units total

Exterior

• Parking: On-street parking
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Electricity connected; Natural gas connected / available; Cable available
• Home design: Triplex residential income property; Private entrances; One- and two-level layout
• Construction: Vinyl siding; Composition roof; Foundation: slab and stone; Built/updated and remodeled condition
• Exterior features: Patio; Level lot; Asphalt road frontage on a city street; Publicly maintained road

Interior

• Kitchen: Dishwasher; Range; Refrigerator
• Bedrooms: Lower unit: 2 bedrooms; Unit 1303: 5 bedrooms; 524 House unit: 1 bedroom
• Bathrooms: Lower unit: 1 bathroom; Unit 1303: 2 bathrooms; 524 House unit: 1 bathroom
• Interior features: Updated/remodeled condition; Dishwasher; Range; Refrigerator; Smoke detector(s)
• Laundry & utility: Washer hookup in multiple locations

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/?-bath units multifamily listed at $448k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $878 ($11k/yr) — positive. Per door: $293/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $448k).
• Recommended offer: $435k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.6% vs local median 3.5% in Great Falls — 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 (#19 in MT, #2,473 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, housing A+; Watch: schools C-, employment C-, crime F.
• Great Falls H S (urban): math 27% / reading 39% proficiency, ranked #79 of 116 in MT (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+3.6%/yr); 111 active listings in the ZIP; 223 units permitted in Cascade County in 2024 (37 in 5+ unit buildings).
• At $5,031/mo this rent would consume 102% of the median local household income ($59k/yr) (locally 1123% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $13k of value loss. Plan a longer hold.
• Cascade County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($435k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $434,560 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.12% ✓
• Cap rate: 8.65%
• Cash-on-cash: 8.40%
• DSCR: 1.37
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $352,374
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1011 6th Ave S Unit 1009-1011	0.23mi	8/5.0 (-1)	3,302 (+7%)	22mo	$375,000	$114	50

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 · 3.64% rent growth · sell at horizon

5-year hold

• IRR: -2.8%
• Equity multiple: 0.89×
• Total profit: $-13,309
• Equity at exit: $66,798

10-year hold

• IRR: 7.6%
• Equity multiple: 1.59×
• Total profit: $74,317
• Equity at exit: $38,735

Cash invested: $125,440 (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 59405

• Rents YoY: 3.6%
• Active inventory: 111
• Price-to-rent: 22.3×

Monthly cashflow live

• Estimated rent: $5,031 medium
• Mortgage (P&I): −$2,349
• Tax est. 1.5%: −$560 /mo · $6,720/yr
• Insurance: −$187
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,057
• Net cashflow: $878

Break-even live

Break-even rent $3,919

Max offer price $448,000

Occupancy floor 78%

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	3	—	$5,031
Total (3 units)			$5,031

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: $112,000
• Closing costs: $13,440
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-19
   days on market $448,000 Active 45 DOM
2. 2026-06-18
   days on market $448,000 Active 44 DOM
3. 2026-06-17
   days on market $448,000 Active 43 DOM
4. 2026-06-16
   days on market $448,000 Active 42 DOM
5. 2026-06-15
   days on market $448,000 Active 41 DOM
6. 2026-06-14
   days on market $448,000 Active 39 DOM
7. 2026-06-13
   days on market $448,000 Active 38 DOM
8. 2026-06-10
   days on market $448,000 Active 36 DOM
9. 2026-06-09
   days on market $448,000 Active 35 DOM
10. 2026-06-08
    days on market $448,000 Active 34 DOM
11. 2026-06-07
    days on market $448,000 Active 33 DOM
12. 2026-06-05
    days on market $448,000 Active 30 DOM
13. 2026-06-03
    days on market $448,000 Active 29 DOM
14. 2026-06-03
    price $448,000 Active 28 DOM
15. 2026-06-02
    days on market $460,000 Active 28 DOM
16. 2026-06-01
    days on market $460,000 Active 27 DOM
17. 2026-05-31
    days on market $460,000 Active 26 DOM
18. 2026-05-30
    days on market $460,000 Active 25 DOM
19. 2026-05-05
    listed $460,000 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 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥92°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 5/10 Major 8 unhealthy d/yr today · 9 by 30 yrs out

Taxation est. · year 1

• Rental income: $60,372
• − Mortgage interest: −$25,095
• − Property taxes: −$6,720
• − Insurance: −$2,240
• − Repairs & maintenance: −$4,830
• − Management: −$4,830
• − Depreciation: −$13,033
• Taxable income: $3,625
• Est. tax owed @ 24.0%: −$870
• After-tax cash flow: $9,672/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 · 13 photos

Fair 45/100 Moderate rehab

The property requires moderate renovations to its kitchen, bathrooms, and flooring, as well as some maintenance to the exterior and landscaping. These updates will significantly increase its resale and rental value.

Repairs flagged

• Major Kitchen appliances — Older and outdated
• Major Bathroom fixtures — Older and outdated
• Major Flooring — Older and outdated
• Minor Paint — Faded

Value-add opportunities

• Resale New kitchen appliances — Modern appliances will attract more buyers
• Resale New bathroom fixtures — Modern fixtures will attract more buyers
• Resale New flooring — New flooring will make the home more appealing
• Resale Painting — Fresh paint will make the home more appealing
• Both Landscaping — Well-maintained landscaping will improve curb appeal and attract more tenants

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen appliances · Older and outdated	Major	$15,000–50,000
Bathroom fixtures · Older and outdated	Major	$15,000–50,000
Flooring · Older and outdated	Major	$15,000–50,000
Paint · Faded	Minor	$500–3,000
Total estimated repair cost · 4 items		$45,500–153,000

Value-add ROI direction

• Resale New kitchen appliances — Modern appliances will attract more buyers ↑
• Resale New bathroom fixtures — Modern fixtures will attract more buyers ↑
• Resale New flooring — New flooring will make the home more appealing ↑
• Resale Painting — Fresh paint will make the home more appealing ↑
• Both Landscaping — Well-maintained landscaping will improve curb appeal and attract more tenants ↑

ⓘ 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: Great Falls H S
• NCES district ID: 3013050
• Math proficiency: 27% ▼ -6.00%
• Reading proficiency: 39% ▼ -3.00%
• Median HH income: $43,586
• Composite: 28.03/100
• National rank: #6846
• State rank: #79 of 116 in MT

Livability — Great Falls

• Score: 78/100
• State rank: #19
• US rank: #2473

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Great Falls, MT
• County: Cascade County · 75,427 people
• City population: 75,427
• Metro: Great Falls, MT
• Population (ZIP): 33,350
• Household income: $59,449
• Rent vs Own: 43.0% rent · 57.0% own
• Severe rent burden: 1123.0

Population outlook (Cascade County) Hauer SSP2

• Today (2025): 81,936 people
• By 2030: 81,376 · -0.7%
• By 2040: 79,435 · -3.1%
• By 2050: 77,906 · -4.9%
• By 2075: 78,595 · -4.1%
• By 2100: 79,997 · -2.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Two or more races 10% Hispanic / Latino 6% Native American 4% Black 2% Asian 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Portuguese 8% Italian 3% Romanian 2%
• Foreign-born: 2%
• Languages at home: 95% English-only · Spanish 2% German/W. Germanic 1%

Political lean MEDSL · Cascade

• 2024 margin: Strong R (+22.3) · D 37.3% · R 59.6% · Other 3.0%
• 2008→2024 swing: -24.6pp toward R · 2008: 2.3pp · 2024: -22.3pp
• All cycles: 2024: R+22.3 2020: R+19.7 2016: R+21.6 2012: R+9.1 2008: D+2.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -121.87%
• Current HPI: 213.0016
• Rent YoY: ▲ 3.64%
• Metro: Great Falls, 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

• 2026-05-05 Listed $460,000 MRMLS