198 Wolverine Dr · Evergreen, MT 59901

$259,900

3 bd · 2.0 ba · 1,279 sqft · Land · 588 Days on market

Built 2022 7,405 sqft lot ↓ 10% since listing

---

Why this score? — see what drove the D 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 +13.8/30.0
• ARV discount +7.5/15.0
• DSCR +4.2/10.0
• 1% rule +3.9/10.0
• Schools +3.5/10.0
• Livability +3.4/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Key facts

• Fenced yard
• Landscaped yard
• Modern kitchen

Tags

• MOUNTAIN VIEWS
• MODERN KITCHEN
• FENCED YARD
• LANDSCAPED YARD

Property features AI

Finance

• Financial info: Land is leased

Exterior

• Utilities: Public sewer
• Home design: Manufactured (double wide); Residential property
• Construction: Double wide manufactured home
• Exterior features: Back yard fencing; Asphalt roof

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning
• Interior features: Dryer; Dishwasher; Microwave; Range; Refrigerator; Washer; Crawl space and concrete basement
• Laundry & utility: Washer; Dryer; Washer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath land listed at $260k.

Deal economics

• At list price, monthly cash flow is $23 ($276/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $230k (11.4% below list).
• Recommended offer: $229k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.4% 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 38% 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 $2k of loan paydown is wiped out by about $8k 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.

Negotiation context

• It's been on market 588 days — a 12% lower offer ($229k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $30k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $228,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 588 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.89% ✗
• Cap rate: 6.40%
• Cash-on-cash: 0.38%
• DSCR: 1.02
• GRM: 9.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.41% rent growth · sell at horizon

5-year hold

• IRR: -16.3%
• Equity multiple: 0.42×
• Total profit: $-41,974
• Equity at exit: $38,752

10-year hold

• IRR: -9.1%
• Equity multiple: 0.45×
• Total profit: $-40,034
• Equity at exit: $22,471

Cash invested: $72,772 (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: 9.4×

Monthly cashflow live

• Estimated rent: $2,303 medium
• Mortgage (P&I): −$1,363
• Tax est. 1.5%: −$325 /mo · $3,898/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$484
• Net cashflow: $23

Break-even live

Break-even rent $2,274

Max offer price $259,900

Occupancy floor 94%

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: $64,975
• Closing costs: $7,797
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-19
   days on market $259,900 Active 588 DOM
2. 2026-06-18
   days on market $259,900 Active 587 DOM
3. 2026-06-17
   days on market $259,900 Active 586 DOM
4. 2026-06-16
   days on market $259,900 Active 585 DOM
5. 2026-06-15
   days on market $259,900 Active 584 DOM
6. 2026-06-14
   days on market $259,900 Active 582 DOM
7. 2026-06-13
   days on market $259,900 Active 581 DOM
8. 2026-06-10
   days on market $259,900 Active 579 DOM
9. 2026-06-09
   days on market $259,900 Active 578 DOM
10. 2026-06-08
    days on market $259,900 Active 577 DOM
11. 2026-06-07
    days on market $259,900 Active 576 DOM
12. 2026-06-05
    days on market $259,900 Active 573 DOM
13. 2026-06-03
    days on market $259,900 Active 572 DOM
14. 2026-06-02
    days on market $259,900 Active 571 DOM
15. 2026-06-01
    days on market $259,900 Active 570 DOM
16. 2026-05-31
    days on market $259,900 Active 569 DOM
17. 2026-05-30
    days on market $259,900 Active 568 DOM
18. 2026-04-29
    price $259,900
19. 2026-03-27
    status Active
20. 2026-03-24
    historical Active Under Contract
21. 2026-02-14
    price $265,000
22. 2025-12-12
    price $275,000
23. 2025-06-12
    price $285,000
24. 2024-11-08
    listed $290,000 Active

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

Taxation est. · year 1

• Rental income: $27,632
• − Mortgage interest: −$14,558
• − Property taxes: −$3,898
• − Insurance: −$1,300
• − Repairs & maintenance: −$2,211
• − Management: −$2,211
• − Depreciation: −$7,561
• Taxable loss: −$4,106
• Est. tax savings @ 24.0%: +$986
• After-tax cash flow: $1,261/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: 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
• 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

-10.4% since first listed

7 events — show timeline

• 2026-04-29 Price Changed $259,900 MRMLS
• 2026-03-27 Relisted — MRMLS
• 2026-03-24 Contingent — MRMLS
• 2026-02-14 Price Changed $265,000 MRMLS
• 2025-12-12 Price Changed $275,000 MRMLS
• 2025-06-12 Price Changed $285,000 MRMLS
• 2024-11-08 Listed $290,000 MRMLS

Property tax history

-6.6%/yr

Latest (2025): $373 · -22.8% YoY. Source: county tax records.