45 Jackson St · Billings, MT 59101

$99,900

2 bd · 1.0 ba · 966 sqft · SingleFamily public records · 61 Days on market

Built 1930 3,275 sqft lot

---

Why this score? — see what drove the C+ 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 +25.9/30.0
• DSCR +8.7/10.0
• ARV discount +7.5/15.0
• 1% rule +6.6/10.0
• Livability +4.0/5.0
• Rent growth +3.5/5.0
• Schools +3.2/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Key facts

• Porch
• Fenced yard
• Corner lot

Tags

• CORNER LOT
• PORCH
• FENCED YARD

Property features AI

Exterior

• Parking: No on-site parking
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property; Above-grade finished area reported
• Exterior features: Corner lot; No fencing

Interior

• Bedrooms: 1 bedroom on the main level
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Heating present (type listed as Other); No cooling
• Interior features: Partial basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $246 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $94k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.2% 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: schools D+, 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.
• Market conditions: Rents rising (+4.0%/yr); 279 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 1,401 units permitted in Yellowstone County in 2024 (281 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k 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 + 4.0% rent growth), your $28k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 61 days — a 6% lower offer ($94k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $93,906 (6.0% below list)

Questions for the listing agent

1. It's been on market 61 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.16% ✓
• Cap rate: 9.25%
• Cash-on-cash: 10.55%
• DSCR: 1.47
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $227,010
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4107 Roosevelt Ave	0.04mi	2/1.0	988 (+2%)	10mo	$99,000	$100	86
118 Monroe St	0.06mi	1/1.0 (-1)	904 (-6%)	4mo	$219,900	$243	78
36 Monroe St	0.05mi	2/2.0	864 (-11%)	0mo	$238,000	$275	76
137 Jefferson	0.17mi	2/1.0	866 (-10%)	3mo	$195,000	$225	72
412 S 34th St	0.46mi	2/1.0	1,000 (+4%)	6mo	$245,000	$245	68
449 Orchard Ln	0.70mi	2/1.0	971 (+0%)	2mo	$145,000	$149	65
608 S 34th St	0.46mi	2/1.0	1,040 (+8%)	2mo	$189,900	$183	64
4232 Bruce Ave	0.42mi	3/1.0 (+1)	1,028 (+6%)	11mo	$282,500	$275	56
612 S 32nd St	0.61mi	2/1.5	1,066 (+10%)	7mo	$225,000	$211	47
506 S 30th St	0.75mi	3/1.0 (+1)	1,040 (+8%)	2mo	$259,000	$249	46
212 S 31st St	0.71mi	3/1.0 (+1)	852 (-12%)	1mo	$200,000	$235	42
507 S 31st St	0.70mi	2/1.0	837 (-13%)	6mo	$149,900	$179	40

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 · 3.96% rent growth · sell at horizon

5-year hold

• IRR: 0.6%
• Equity multiple: 1.02×
• Total profit: $603
• Equity at exit: $14,895

10-year hold

• IRR: 11.1%
• Equity multiple: 1.91×
• Total profit: $25,424
• Equity at exit: $8,638

Cash invested: $27,972 (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 59101

• Rents YoY: 4.0%
• Active inventory: 279
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,157 high
• Mortgage (P&I): −$524
• Tax from tax record: −$103 /mo · $1,230/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$243
• Net cashflow: $246

Break-even live

Break-even rent $846

Max offer price $99,900

Occupancy floor 74%

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3707 2nd Ave S Billings, MT	2.0	1.0	650	$850	$1.31	20d	1	0.37mi
613 S 34th St Billings, MT	1.0	1.0	714	$1,100	$1.54	20d	1	0.51mi
238 Terry Ave Unit 2 Billings, MT	2.0	1.0	768	$1,275	$1.66	13d	1	0.60mi
238 Terry Ave Unit 1 Billings, MT	2.0	1.0	768	$1,475	$1.92	13d	1	0.60mi
129 Broadwater Ave Unit B Billings, MT	1.0	1.0	850	$885	$1.04	13d	1	0.68mi
3409 1st Ave N Billings, MT	1.0	1.0	600	$895	$1.49	13d	1	0.72mi
115 N 35th St Billings, MT	1.0	1.0	1000	$1,500	$1.50	13d	1	0.73mi
421 5th St W Billings, MT	1.0	1.0	778	$975	$1.25	13d	1	0.78mi
318 Yellowstone Ave Billings, MT	2.0	1.0	1000	$950	$0.95	13d	1	0.87mi
635 Cook Ave Billings, MT	2.0	1.0	894	$975	$1.09	13d	1	0.89mi
715 S 28th St Billings, MT	1.0–2.0	1.0	617	$1,343	$2.17	13d	6	0.95mi
414 1/2 7th St W Billings, MT	2.0	1.0	832	$955	$1.15	13d	1	1.00mi
743 Cook Ave Apt B Billings, MT	2.0	1.0	900	$1,400	$1.56	13d	1	1.02mi
107 N Broadway Billings, MT	2.0	1.0	626	$1,021	$1.63	13d	1	1.10mi
634 1/2 Lewis Ave Billings, MT	1.0	1.0	668	$850	$1.27	13d	1	1.22mi
708 N 31st St Billings, MT	1.0	1.0	700	$995	$1.42	13d	1	1.22mi
828 Broadwater Ave Billings, MT	2.0	1.0	650	$1,095	$1.68	13d	1	1.24mi
300 N 25th St Apt 505 Billings, MT	2.0	1.0	1000	$1,250	$1.25	13d	1	1.32mi
520 Avenue B Unit B Billings, MT	2.0	1.0	936	$1,195	$1.28	13d	1	1.35mi
2403 2nd Ave N Billings, MT	1.0	1.0	600	$1,150	$1.92	20d	1	1.35mi
2310 1st Ave N Billings, MT	2.0	1.0–2.0	915	$2,025	$2.21	13d	1	1.37mi
115 N 24th St Billings, MT	1.0	1.0	587	$1,112	$1.89	13d	2	1.37mi

Listing history 19 events

1. 2026-06-19
   days on market $99,900 Active 61 DOM
2. 2026-06-18
   days on market $99,900 Active 60 DOM
3. 2026-06-17
   days on market $99,900 Active 59 DOM
4. 2026-06-16
   days on market $99,900 Active 58 DOM
5. 2026-06-15
   days on market $99,900 Active 57 DOM
6. 2026-06-14
   days on market $99,900 Active 55 DOM
7. 2026-06-13
   days on market $99,900 Active 54 DOM
8. 2026-06-10
   days on market $99,900 Active 52 DOM
9. 2026-06-09
   days on market $99,900 Active 51 DOM
10. 2026-06-08
    days on market $99,900 Active 50 DOM
11. 2026-06-07
    days on market $99,900 Active 49 DOM
12. 2026-06-05
    pricedays on market $99,900 Active 46 DOM
13. 2026-06-02
    days on market $109,900 Active 44 DOM
14. 2026-06-01
    days on market $109,900 Active 43 DOM
15. 2026-05-31
    days on market $109,900 Active 42 DOM
16. 2026-05-30
    days on market $109,900 Active 41 DOM
17. 2026-04-20
    listed $109,900 Active
18. 2025-09-15
    price $109,900
19. 1996-12-13
    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: $1,230 · $103/mo
• Projected year-2 tax: $1,230 · $103/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 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥95°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: $13,882
• − Mortgage interest: −$5,596
• − Property taxes: −$1,230
• − Insurance: −$500
• − Repairs & maintenance: −$1,111
• − Management: −$1,111
• − Depreciation: −$2,906
• Taxable income: $1,429
• Est. tax owed @ 24.0%: −$343
• After-tax cash flow: $2,607/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: 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): 42,250
• Household income: $58,598
• Rent vs Own: 43.6% rent · 56.4% own
• Severe rent burden: 1534.0

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 (75%)
• Race & ethnicity: White 75% Hispanic / Latino 9% Native American 9% Two or more races 8% Black 1%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Portuguese 6% Italian 2% Lithuanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 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: ▼ -191.74%
• Current HPI: 201.7039
• Rent YoY: ▲ 3.96%
• 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

+0.0% since first listed

3 events — show timeline

• 2026-04-20 Listed $109,900 BMTMLS
• 2025-09-15 Price Changed $109,900 BMTMLS
• 1996-12-13 Sold (Public Records) — Public Records

Property tax history

+16.5%/yr

Latest (2025): $1,230 · -7.2% YoY. Source: county tax records.