14 Sheri Ln · Billings, MT 59102

$29,900

2 bd · 1.0 ba · 684 sqft · Other · 9 Days on market

Built 1985 Fair condition

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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 +3.8/5.0
• Schools +3.2/10.0
• Condition / age +2.0/5.0
• Appreciation +0.0/10.0

Key facts

• Good sized carport
• Built in hutch
• Front kitchen

Tags

• FRONT KITCHEN
• BUILT IN HUTCH
• SEPARATE UTILITY ROOM
• GOOD SIZED CARPORT
• CENTRAL LOCATION

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $30k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $652 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $30k).
• Cap rate 32.4% 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: Burlington School (math 27% / reading 32%, grade F, #223 of 293 statewide, top 79%, 277 students, 0% FRL); Lewis & Clark Middle School (math 26% / reading 47%, grade F, #82 of 146 statewide, top 57%, 667 students, 0% FRL); Billings Sr High School (math 25% / reading 43%, grade F, #55 of 132 statewide, top 41%, 1,739 students, 0% FRL).
• Market conditions: Rents rising fast (+5.0%/yr); 197 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,401 units permitted in Yellowstone County in 2024 (281 in 5+ unit buildings).
• This rent is only 17% of the median local income ($76k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $207 of loan paydown is wiped out by about $897 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 + 5.0% rent growth), your $8k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $29,900

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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: 3.63% ✓
• Cap rate: 32.45%
• Cash-on-cash: 93.40%
• DSCR: 5.16
• GRM: 2.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.03% rent growth · sell at horizon

5-year hold

• IRR: 96.5%
• Equity multiple: 5.65×
• Total profit: $38,937
• Equity at exit: $4,458

10-year hold

• IRR: 99.6%
• Equity multiple: 12.60×
• Total profit: $97,097
• Equity at exit: $2,585

Cash invested: $8,372 (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 59102

• Rents YoY: 5.0%
• Active inventory: 197
• Price-to-rent: 2.3×

Monthly cashflow live

• Estimated rent: $1,086 high
• Mortgage (P&I): −$157
• Tax est. 1.5%: −$37 /mo · $448/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$228
• Net cashflow: $652

Break-even live

Break-even rent $262

Max offer price $29,900

Occupancy floor 35%

Sensitivity live

Price	-10% $672	-5% $662	+0% $652	+5% $641	+10% $631
Rent	-10% $566	-5% $609	+0% $652	+5% $695	+10% $737
Rate	-1.0pp $667	-0.5pp $659	base $652	+0.5pp $644	+1.0pp $636

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: $7,475
• Closing costs: $897
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2024 Alderson Ave Billings, MT	1.0	1.0	500	$795	$1.59	15d	1	0.77mi
828 Broadwater Ave Billings, MT	2.0	1.0	650	$1,095	$1.68	15d	1	0.81mi
634 1/2 Lewis Ave Billings, MT	1.0	1.0	668	$850	$1.27	15d	1	1.00mi
2339 Alderson Ave Billings, MT	1.0	1.0	425	$750	$1.76	15d	1	1.10mi
305 S 12th St W Billings, MT	1.0	1.0	500	$795	$1.59	22d	1	1.22mi
2014 Woody Dr Billings, MT	1.0–2.0	1.0	587	$1,175	$2.00	15d	5	1.22mi

Listing history 7 events

1. 2026-06-21
   days on market $29,900 Active 9 DOM
2. 2026-06-19
   days on market $29,900 Active 7 DOM
3. 2026-06-18
   days on market $29,900 Active 6 DOM
4. 2026-06-17
   days on market $29,900 Active 5 DOM
5. 2026-06-16
   days on market $29,900 Active 4 DOM
6. 2026-06-15
   days on market $29,900 Active 3 DOM
7. 2026-06-13
   listed $29,900 Active 1 DOM

ⓘ 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 3/10 Moderate 7 d/yr ≥96°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: $13,037
• − Mortgage interest: −$1,675
• − Property taxes: −$448
• − Insurance: −$150
• − Repairs & maintenance: −$1,043
• − Management: −$1,043
• − Depreciation: −$870
• Taxable income: $7,808
• Est. tax owed @ 24.0%: −$1,874
• After-tax cash flow: $5,946/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 · 1 photo

Fair 40/100 Moderate rehab

This mobile home requires significant repairs and maintenance, including exterior painting, HVAC replacement, and landscaping improvements. These updates would significantly increase its resale and rental value.

Repairs flagged

• Major exterior siding — Significant wear and tear
• Major roof — Age and potential leaks
• Major interior walls/paint — Paint wear and potential damage
• Major windows — Age and potential leaks
• Major HVAC/mechanicals — Age and potential inefficiency
• Major landscaping — Overgrown and unkempt appearance

Value-add opportunities

• Resale exterior painting — Fresh paint can significantly improve curb appeal
• Rental HVAC replacement — Modern HVAC can improve tenant satisfaction and reduce utility costs
• Both landscaping — A well-maintained yard can increase both resale and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Significant wear and tear	Major	$15,000–50,000
roof · Age and potential leaks	Major	$15,000–50,000
interior walls/paint · Paint wear and potential damage	Major	$15,000–50,000
windows · Age and potential leaks	Major	$15,000–50,000
HVAC/mechanicals · Age and potential inefficiency	Major	$15,000–50,000
landscaping · Overgrown and unkempt appearance	Major	$15,000–50,000
Total estimated repair cost · 6 items		$90,000–300,000

Value-add ROI direction

• Resale exterior painting — Fresh paint can significantly improve curb appeal ↑
• Rental HVAC replacement — Modern HVAC can improve tenant satisfaction and reduce utility costs ↑
• Both landscaping — A well-maintained yard can increase both resale and rental value ↑

ⓘ 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: 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): 47,977
• Household income: $76,141
• Rent vs Own: 31.5% rent · 68.5% own
• Severe rent burden: 1584.0

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 (88%)
• Race & ethnicity: White 88% Hispanic / Latino 6% Two or more races 5% Native American 2% Asian 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Portuguese 10% Slovak 3% Lithuanian 3%
• Foreign-born: 2% · Canada, Vietnam
• Languages at home: 96% English-only · Spanish 2% Vietnamese 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: ▼ -364.20%
• Current HPI: 205.0915
• Rent YoY: ▲ 5.03%
• 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

• 2026-06-13 Listed $29,900 FSBO.com