1413 7th Ave NW

Great Falls, MT 59404

$85,000B+

2 bd · 1.0 ba · 938 sqft · Built 1974 · Manufactured · Pending · 4 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,724/mo
• Mortgage (P&I): −$446
• Tax + insurance: −$58
• HOA: −$0
• Vac / Maint / Mgmt: −$362
• Net cashflow: $858/mo
• Annual: $10,296/yr
• Cap rate: 18.41%
• Cash-on-cash: 43.26%
• DSCR: 2.92
• 1% rule: 2.03%
• Cash to close: $23,800

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $85k.
• At list price, monthly cash flow is $858 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $85k).
• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $588 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• 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: 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.
• Zoned schools: Valley View School (math 32% / reading 42%, grade F, #182 of 293 statewide, top 66%, 296 students, 0% FRL); North Middle School (math 43% / reading 55%, grade C-, #34 of 146 statewide, top 24%, 724 students, 0% FRL); C M Russell High School (math 32% / reading 43%, grade F, #47 of 132 statewide, top 35%, 1,454 students, 0% FRL).
• Market conditions: 131 active listings in the ZIP; solid renter incomes; 223 units permitted in Cascade County in 2024 (37 in 5+ unit buildings).
• Cascade County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~3 years — after that, you're playing with house money.
• Cap rate 18.4% 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.

Questions for listing agent

• Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.