702 Fergus Ave · Lewistown, MT 59457

$59,000

2 bd · 1.5 ba · 1,050 sqft · Manufactured · 10 Days on market

Built 1983 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
• Schools +4.1/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Key facts

• Open floor plan
• Walk up tub
• Shed

Tags

• OPEN FLOOR PLAN
• PELLET STOVE
• WALK UP TUB
• DOUBLE SINK
• ISLAND COUNTER
• SHED

Property features AI

Exterior

• Parking: Attached garage with 2 spaces
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer
• Home design: Manufactured home; One level; New construction
• Construction: Masonite siding
• Exterior features: Patio; Shed(s); Paved road access

Interior

• Kitchen: Gas range; Refrigerator; Microwave
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Natural gas forced-air heating
• Interior features: 6 total rooms; Basement: none; Smoke detectors
• Laundry & utility: Washer; Dryer; Main level laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath manufactured listed at $59k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $461 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $59k).

Location & tenants

• Location reads 67/100 on livability (#111 in MT) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: crime F, amenities F, commute F.
• Lewistown Elementary (town): math 44% / reading 54% proficiency, ranked #37 of 116 in MT (top 32%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Highland Park School (math 42% / reading 47%, grade F, #117 of 293 statewide, top 44%, 304 students, 0% FRL); Lewis & Clark School (math 52% / reading 57%, grade B-, #15 of 146 statewide, top 14%, 210 students, 0% FRL); Fergus High School (math 17% / reading 27%, grade F, #108 of 132 statewide, top 83%, 356 students, 0% FRL) — zoned schools average 0% FRL vs 32% district-wide (32 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 136 active listings in the ZIP; 4 units permitted in Fergus County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $408 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Fergus County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

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

Recommended offer $59,000

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: 1.86% ✓
• Cap rate: 15.66%
• Cash-on-cash: 33.45%
• DSCR: 2.49
• GRM: 4.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 28.7%
• Equity multiple: 2.20×
• Total profit: $19,789
• Equity at exit: $8,797

10-year hold

• IRR: 36.1%
• Equity multiple: 4.33×
• Total profit: $55,070
• Equity at exit: $5,101

Cash invested: $16,520 (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 59457

• Active inventory: 136
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $1,099 medium
• Mortgage (P&I): −$309
• Tax est. 1.5%: −$74 /mo · $885/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$231
• Net cashflow: $461

Break-even live

Break-even rent $516

Max offer price $59,000

Occupancy floor 53%

Sensitivity live

Price	-10% $501	-5% $481	+0% $461	+5% $440	+10% $420
Rent	-10% $374	-5% $417	+0% $461	+5% $504	+10% $547
Rate	-1.0pp $490	-0.5pp $476	base $461	+0.5pp $445	+1.0pp $430

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: $14,750
• Closing costs: $1,770
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-21
   days on market $59,000 Active 10 DOM
2. 2026-06-21
   days on market $59,000 Active 9 DOM
3. 2026-06-18
   days on market $59,000 Active 7 DOM
4. 2026-06-17
   days on market $59,000 Active 6 DOM
5. 2026-06-16
   days on market $59,000 Active 5 DOM
6. 2026-06-15
   days on market $59,000 Active 4 DOM
7. 2026-06-13
   days on market $59,000 Active 2 DOM
8. 2026-06-12
   listed $59,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥90°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 5/10 Major 6 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,189
• − Mortgage interest: −$3,305
• − Property taxes: −$885
• − Insurance: −$295
• − Repairs & maintenance: −$1,055
• − Management: −$1,055
• − Depreciation: −$1,716
• Taxable income: $4,878
• Est. tax owed @ 24.0%: −$1,171
• After-tax cash flow: $4,356/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 · 14 photos

Fair 45/100 Moderate rehab

The home is in fair condition with significant wear and tear. It requires major repairs to the exterior siding and interior carpeting, as well as an HVAC system upgrade. Painting and landscaping improvements can also enhance its appeal.

Repairs flagged

• Major exterior siding — The siding appears to be weathered and in need of replacement.
• Major interior carpeting — The carpeting is worn and in need of replacement.
• Major HVAC system — The HVAC system appears to be outdated and may need replacement.

Value-add opportunities

• Both painting the interior and exterior — Painting can refresh the home's appearance and make it more appealing to potential buyers or renters.
• Both upgrading the HVAC system — An updated HVAC system can improve the home's comfort and energy efficiency, making it more attractive to buyers and renters.
• Both replacing the carpeting — New carpeting can improve the home's appearance and comfort, making it more appealing to potential buyers or renters.

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · The siding appears to be weathered and in need of replacement.	Major	$15,000–50,000
interior carpeting · The carpeting is worn and in need of replacement.	Major	$15,000–50,000
HVAC system · The HVAC system appears to be outdated and may need replacement.	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both painting the interior and exterior — Painting can refresh the home's appearance and make it more appealing to potential buyers or renters. ↑
• Both upgrading the HVAC system — An updated HVAC system can improve the home's comfort and energy efficiency, making it more attractive to buyers and renters. ↑
• Both replacing the carpeting — New carpeting can improve the home's appearance and comfort, making it more appealing to potential buyers or renters. ↑

ⓘ 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: Lewistown Elementary
• NCES district ID: 3016490
• Math proficiency: 44% ▼ -4.00%
• Reading proficiency: 54% ▼ -4.00%
• Median HH income: $40,237
• Composite: 40.99/100
• National rank: #3593
• State rank: #37 of 116 in MT

Livability — Lewistown

• Score: 67/100
• State rank: #111
• US rank: #11132

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lewistown, MT
• Population (ZIP): 9,215

Population outlook (Fergus County) Hauer SSP2

• Today (2025): 10,955 people
• By 2030: 10,722 · -2.1%
• By 2040: 10,274 · -6.2%
• By 2050: 9,993 · -8.8%
• By 2075: 10,766 · -1.7%
• By 2100: 10,922 · -0.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Hispanic / Latino 3% Two or more races 2% Native American 2% Asian 1%
• Common ancestry: Portuguese 8% Slovak 6% Lithuanian 2%
• Foreign-born: 2% · Canada, South Korea
• Languages at home: 96% English-only · Spanish 3% German/W. Germanic 1%

Political lean MEDSL · Fergus

• 2024 margin: Solid R (+51.3) · D 22.7% · R 74.0% · Other 3.4%
• 2008→2024 swing: -16.4pp toward R · 2008: -34.9pp · 2024: -51.3pp
• All cycles: 2024: R+51.3 2020: R+51.6 2016: R+52.6 2012: R+43.3 2008: R+34.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -137.83%
• Current HPI: 210.4278
• 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

1 event — show timeline

• 2026-06-11 Listed $59,000 HHLMLS