602 Clark St · Deer Lodge, MT 59722

$599,000

8 bd · 4.0 ba · 3,984 sqft · MultiFamily public records · 18 Days on market

Built 1994 0.27 ac lot

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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
• DSCR +10.0/10.0
• 1% rule +9.2/10.0
• ARV discount +7.5/15.0
• Appreciation +6.8/10.0
• Livability +3.7/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 11 units. estimate disagrees with records

Key facts

• Well manicured lawn
• Central location
• Split level units

Tags

• WELL MAINTAINED FOURPLEX
• SPLIT LEVEL UNITS
• WELCOMING LIVING AREA
• PRIVATE ONE CAR GARAGE
• WELL MANICURED LAWN
• CENTRAL LOCATION

Property features AI

Finance

• Other: Property is listed as residential income (quadruplex)
• Financial info: Actual rent reported: $3,250

Exterior

• Parking: Garage with 4 spaces
• Utilities: Public water; Public sewer; Electricity connected; Natural gas connected / available
• Home design: Quadruplex (residential income property); Two levels
• Construction: Wood siding construction
• Exterior features: Asphalt roof; Level and sloping topography; Front yard; Gentle sloping areas; Asphalt road frontage on a city street; Publicly maintained road

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: Total of 8 bedrooms across units (property described as 2 bed / 1 bath units in a 4-plex)
• Bathrooms: Total of 4 bathrooms across units
• Interior features: Range; Refrigerator; Concrete basement
• Laundry & utility: Washer hookup; Additional laundry notes: Other / see remarks

What this means for you Summary

Snapshot

• This is a 11 × 1-bed/?-bath units multifamily listed at $599k.

Deal economics

• At list price, monthly cash flow is $3k ($37k/yr) — positive. Per door: $277/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $599k).
• Recommended offer: $590k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.4% vs local median 2.3% in Deer Lodge — 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 73/100 on livability (#50 in MT) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: crime C-, amenities F, commute F.
• Powell County H S (town): math 30% / reading 30% proficiency, ranked #220 of 339 in MT (top 65%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: O D Speer School (math 27% / reading 47%, grade F, #182 of 293 statewide, top 66%, 336 students, 0% FRL); E F Duvall 7-8 (math 27% / reading 47%, grade F, #78 of 146 statewide, top 55%, 90 students, 0% FRL); Powell County High School (math 15% / reading 34%, grade F, #77 of 132 statewide, top 60%, 186 students, 0% FRL).
• Market conditions: 77 active listings in the ZIP; 53 units permitted in Powell County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $26k of equity ($4k loan paydown + $22k appreciation (3.7% local appreciation)).
• Powell County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.7% appreciation + 3.0% rent growth), your $168k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$42k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($590k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $590,015 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.42% ✓
• Cap rate: 12.40%
• Cash-on-cash: 21.82%
• DSCR: 1.97
• GRM: 5.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.67% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 29.3%
• Equity multiple: 2.72×
• Total profit: $287,662
• Equity at exit: $292,169

10-year hold

• IRR: 29.2%
• Equity multiple: 5.33×
• Total profit: $725,906
• Equity at exit: $468,888

Cash invested: $167,720 (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 59722

• Home prices YoY: 1.3%
• Active inventory: 77
• Price-to-rent: 64.7×

Monthly cashflow live

• Estimated rent: $8,486 medium
• Mortgage (P&I): −$3,141
• Tax from tax record: −$264 /mo · $3,166/yr
• Insurance: −$250
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,782
• Net cashflow: $3,049

Break-even live

Break-even rent $4,626

Max offer price $599,000

Occupancy floor 59%

Sensitivity live

Price	-10% $3,388	-5% $3,219	+0% $3,049	+5% $2,880	+10% $2,710
Rent	-10% $2,379	-5% $2,714	+0% $3,049	+5% $3,384	+10% $3,720
Rate	-1.0pp $3,351	-0.5pp $3,202	base $3,049	+0.5pp $2,894	+1.0pp $2,736

11-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 11× units	1	—	$8,481
Total (11 units)			$8,486

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: $149,750
• Closing costs: $17,970
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-22
   days on market $599,000 Active 18 DOM
2. 2026-06-21
   days on market $599,000 Active 17 DOM
3. 2026-06-19
   days on market $599,000 Active 15 DOM
4. 2026-06-18
   days on market $599,000 Active 14 DOM
5. 2026-06-17
   days on market $599,000 Active 13 DOM
6. 2026-06-16
   days on market $599,000 Active 12 DOM
7. 2026-06-15
   days on market $599,000 Active 11 DOM
8. 2026-06-14
   days on market $599,000 Active 9 DOM
9. 2026-06-12
   days on market $599,000 Active 8 DOM
10. 2026-06-10
    days on market $599,000 Active 6 DOM
11. 2026-06-09
    days on market $599,000 Active 5 DOM
12. 2026-06-08
    days on market $599,000 Active 4 DOM
13. 2026-06-07
    days on market $599,000 Active 3 DOM
14. 2026-06-05
    pricedays on marketlisting id $599,000 Active 1 DOM
15. 2026-06-03
    days on market $525,000 Active 15 DOM
16. 2026-06-02
    days on market $525,000 Active 14 DOM
17. 2026-06-01
    days on market $525,000 Active 13 DOM
18. 2026-05-31
    days on market $525,000 Active 12 DOM
19. 2026-05-30
    days on market $525,000 Active 11 DOM
20. 2026-05-20
    listed $525,000 Active
21. 1995-01-13
    soldstatus
22. 1990-03-01
    soldstatus

ⓘ 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: $3,166 · $264/mo
• Projected year-2 tax: $5,032 · $419/mo
• Expected delta: +$1,866/yr (+$155/mo · 58.9%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 2/10 Low 7 d/yr ≥87°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 25 unhealthy d/yr today · 28 by 30 yrs out

Taxation est. · year 1

• Rental income: $101,832
• − Mortgage interest: −$33,553
• − Property taxes: −$3,166
• − Insurance: −$2,995
• − Repairs & maintenance: −$8,147
• − Management: −$8,147
• − Depreciation: −$17,425
• Taxable income: $28,399
• Est. tax owed @ 24.0%: −$6,816
• After-tax cash flow: $29,776/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: Powell County H S
• NCES district ID: 3021450
• Math proficiency: 30% ▼ -10.00%
• Reading proficiency: 30% ▼ -20.00%
• Median HH income: $42,148
• Composite: 28.29/100
• National rank: #12156
• State rank: #220 of 339 in MT

Livability — Deer Lodge

• Score: 73/100
• State rank: #50
• US rank: #5543

Category grades

Amenities F Commute F Cost of living A+ Crime C- Employment D- Housing A Health & safety A+ User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Deer Lodge, MT
• Population (ZIP): 5,698

Population outlook (Powell County) Hauer SSP2

• Today (2025): 6,617 people
• By 2030: 6,451 · -2.5%
• By 2040: 6,137 · -7.3%
• By 2050: 5,888 · -11.0%
• By 2075: 5,348 · -19.2%
• By 2100: 4,467 · -32.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Native American 6% Two or more races 4% Hispanic / Latino 3% Asian 2% Black 2%
• Common ancestry: Portuguese 4% Slovak 4% Iranian 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Tagalog/Filipino 1%

Political lean MEDSL · Powell

• 2024 margin: Solid R (+53.5) · D 21.6% · R 75.1% · Other 3.2%
• 2008→2024 swing: -30.0pp toward R · 2008: -23.5pp · 2024: -53.5pp
• All cycles: 2024: R+53.5 2020: R+50.2 2016: R+53.0 2012: R+33.1 2008: R+23.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.67%
• Current HPI: 277.6052
• Rent YoY: —
• Metro: —
• 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

3 events — show timeline

• 2026-06-04 Listed $599,000 MRMLS
• 1995-01-13 Sold (Public Records) — Public Records
• 1990-03-01 Sold (Public Records) — Public Records

Property tax history

+1.1%/yr

Latest (2025): $3,166 · -14.0% YoY. Source: county tax records.