602 Caledonia St · Butte-Silver Bow (balance), MT 59701

$150,000

2 bd · 1.0 ba · 936 sqft · SingleFamily public records · 9 Days on market

Built 1900 2,919 sqft lot Est $153k · at est.

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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 +15.9/30.0
• ARV discount +8.3/15.0
• Rent growth +5.0/5.0
• DSCR +4.9/10.0
• 1% rule +3.8/10.0
• Schools +3.1/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Remarks: Turnkey house, completely remodeled with 2 bedrooms, living/dining room and a large kitchen. New flooring and newer stainless steel appliances and washer/dryer included. Close to Montana Tech and St. James hospital. Great home or investment property.

Key facts

• Manageable yard
• Natural light
• Uptown amenities

Tags

• UPTOWN AMENITIES
• FUNCTIONAL FLOOR PLAN
• NATURAL LIGHT
• MANAGEABLE YARD

Property features AI

Exterior

• Home design: Single family residence; Residential property
• Construction: Pillar/Post/Pier and stone foundation
• Exterior features: Lot zoned R-2

Interior

• Kitchen: Range; Refrigerator
• Bathrooms: 1 full bathroom
• Interior features: Range, Refrigerator; Unfinished basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $71 ($851/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 $132k (12.1% below list).
• Recommended offer: $132k (12.1% below list) — sets the bar for 1% rule.
• Cap rate 6.9% vs local median 2.9% in Butte-Silver Bow (balance) — 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: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Butte H S (town): math 24% / reading 50% proficiency, ranked #73 of 116 in MT (top 63%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Kennedy School (math 22% / reading 37%, grade F, #223 of 293 statewide, top 79%, 246 students, 0% FRL); East Middle School (math 26% / reading 44%, grade F, #85 of 146 statewide, top 59%, 660 students, 0% FRL); Butte High School (math 24% / reading 50%, grade F, #48 of 132 statewide, top 37%, 1,317 students, 0% FRL).
• Market conditions: Rents rising fast (+10.4%/yr); 325 active listings in the ZIP; 109 units permitted in Silver Bow County in 2024 (25 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Silver Bow County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 9y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $131,787 (12.1% below list)

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.88% ✗
• Cap rate: 6.86%
• Cash-on-cash: 2.03%
• DSCR: 1.09
• GRM: 9.5

CMA / ARV

• ARV (on-the-fly): $152,568
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
407 W Quartz St	0.12mi	1/1.0 (-1)	1,000 (+7%)	10mo	$118,500	$119	70
730 W Quartz St	0.18mi	1/1.0 (-1)	857 (-8%)	14mo	$69,900	$82	61
76 Missoula Ave	0.59mi	2/1.0	920 (-2%)	12mo	$150,000	$163	59
43 Missoula Ave	0.67mi	2/1.0	908 (-3%)	6mo	$179,000	$197	59
115 Minah St	0.59mi	1/1.0 (-1)	897 (-4%)	4mo	$219,000	$244	58
601 S Idaho St	0.69mi	2/1.0	931 (-0%)	12mo	$210,000	$226	57
935 Zarelda St	0.48mi	2/1.0	882 (-6%)	15mo	$139,000	$158	55
145 Missoula Ave	0.55mi	1/1.0 (-1)	901 (-4%)	11mo	$130,000	$144	54
961 N Main St	0.74mi	2/1.0	901 (-4%)	8mo	$249,000	$276	53
525 S Main St	0.75mi	2/1.0	897 (-4%)	11mo	$75,000	$84	49
149 Missoula Ave	0.55mi	2/1.0	805 (-14%)	9mo	$139,900	$174	44
27 W La Platte St	0.73mi	3/1.0 (+1)	992 (+6%)	17mo	$60,000	$60	37

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -7.9%
• Equity multiple: 0.69×
• Total profit: $-12,844
• Equity at exit: $22,365

10-year hold

• IRR: 6.9%
• Equity multiple: 1.62×
• Total profit: $26,248
• Equity at exit: $12,969

Cash invested: $42,000 (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 59701

• Home prices YoY: -30.7%
• Rents YoY: 10.4%
• Active inventory: 325
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,318 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$121 /mo · $1,453/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$277
• Net cashflow: $71

Break-even live

Break-even rent $1,228

Max offer price $150,000

Occupancy floor 90%

Sensitivity live

Price	-10% $156	-5% $113	+0% $71	+5% $28	+10% $-14
Rent	-10% $-33	-5% $19	+0% $71	+5% $123	+10% $175
Rate	-1.0pp $146	-0.5pp $109	base $71	+0.5pp $32	+1.0pp $-7

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-22
   days on market $150,000 Active 9 DOM
2. 2026-06-21
   days on market $150,000 Active 8 DOM
3. 2026-06-19
   days on market $150,000 Active 6 DOM
4. 2026-06-18
   days on market $150,000 Active 5 DOM
5. 2026-06-17
   days on market $150,000 Active 4 DOM
6. 2026-06-16
   days on market $150,000 Active 3 DOM
7. 2026-06-15
   days on market $150,000 Active 2 DOM
8. 2026-06-14
   listing id $150,000 Active 1 DOM
9. 2026-06-13
   listed $150,000 Active 1 DOM

ⓘ 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: $1,453 · $121/mo
• Projected year-2 tax: $1,453 · $121/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 5/10 Major
• 🌡 Heat 1/10 Low 6 d/yr ≥86°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 19 unhealthy d/yr today · 26 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,814
• − Mortgage interest: −$8,402
• − Property taxes: −$1,453
• − Insurance: −$750
• − Repairs & maintenance: −$1,265
• − Management: −$1,265
• − Depreciation: −$4,364
• Taxable loss: −$1,684
• Est. tax savings @ 24.0%: +$404
• After-tax cash flow: $1,256/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: Butte H S
• NCES district ID: 3005310
• Math proficiency: 24% ▼ -7.00%
• Reading proficiency: 50% ▲ 1.00%
• Median HH income: $37,852
• Composite: 30.74/100
• National rank: #6162
• State rank: #73 of 116 in MT

Livability — Butte-Silver Bow (balance)

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Butte-Silver Bow (balance), MT
• County: Silver Bow County · 34,232 people
• City population: 35,306
• Metro: Butte-Silver Bow, MT
• Population (ZIP): 34,232
• Household income: $60,437
• Rent vs Own: 30.3% rent · 69.7% own
• Severe rent burden: 1060.0

Population outlook (Silver Bow County) Hauer SSP2

• Today (2025): 35,745 people
• By 2030: 36,359 · +1.7%
• By 2040: 37,490 · +4.9%
• By 2050: 38,593 · +8.0%
• By 2075: 43,773 · +22.5%
• By 2100: 48,513 · +35.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 6% Hispanic / Latino 5% Native American 2%
• Common ancestry: Portuguese 5% Lithuanian 3% Slovak 2%
• Foreign-born: 1%
• Languages at home: 97% English-only · Korean 1% Arabic 1%

Political lean MEDSL · Silver Bow

• 2024 margin: Lean D (+7.0) · D 51.5% · R 44.5% · Other 4.0%
• 2008→2024 swing: -33.4pp toward R · 2008: 40.4pp · 2024: 7.0pp
• All cycles: 2024: D+7.0 2020: D+14.1 2016: D+14.2 2012: D+32.5 2008: D+40.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -119.08%
• Current HPI: 268.4972
• Rent YoY: ▲ 10.44%
• Metro: Butte-Silver Bow, 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

+400.0% since first listed

9 events — show timeline

• 2026-06-12 Listed $150,000 MRMLS
• 2024-03-24 Rental Removed $1,100 APPFOLIO
• 2024-03-13 Listed for Rent $1,100 APPFOLIO
• 2021-06-18 Sold (MLS) — MRMLS
• 2021-03-29 Listed $107,500 MRMLS
• 2020-10-12 Listed $110,000 MRMLS
• 2017-10-23 Sold (MLS) — MRMLS
• 2017-09-01 Listed $30,000 MRMLS
• 2002-08-30 Sold (Public Records) — Public Records

Property tax history

+9.3%/yr

Latest (2025): $1,453 · -8.8% YoY. Source: county tax records.