120 Illinois St

Chinook, MT 59523

$76,500B-

3 bd · 1.0 ba · 880 sqft · Built 1935 · SingleFamily · Pending

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,075/mo
• Mortgage (P&I): −$401
• Tax + insurance: −$216
• HOA: −$0
• Vac / Maint / Mgmt: −$226
• Net cashflow: $232/mo
• Annual: $2,783/yr
• Cap rate: 9.93%
• Cash-on-cash: 12.99%
• DSCR: 1.58
• 1% rule: 1.41%
• Cash to close: $21,420

Investor read

• This is a 3-bed/1.0-bath single-family listed at $76k.
• At list price, monthly cash flow is $232 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $76k).
• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-1.8%/yr); year-one equity from $529 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads 73/100 on livability (#44 in MT) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime C-, employment D+, amenities F.
• Chinook H S (rural): math 0% / reading 21% proficiency, ranked #278 of 339 in MT (top 82%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Meadowlark School (math 22% / reading 27%, grade F, #237 of 293 statewide, top 86%, 167 students, 0% FRL); Chinook 7-8 (math 15% / reading 34%, grade F, #118 of 146 statewide, top 81%, 57 students, 0% FRL); Chinook High School (math 10% / reading 30%, grade F, #111 of 132 statewide, top 88%, 114 students, 0% FRL).
• Zoned-school proficiency averages 23% at this address vs 10% district-wide (+13 pts) — the actual schools serving this property are materially stronger than the Chinook H S average implies; a family-tenant draw the district grade alone would hide.
• Watch-outs: property tax is 2.9% of price; built in 1935 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 22 active listings in the ZIP.
• Blaine County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-1.8% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~8 years — after that, you're playing with house money.

Questions for listing agent

• Built in 1935 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.