2226 Central Ave W · Great Falls, MT 59404

$35,000

3 bd · 2.0 ba · 1,072 sqft · Land · 1 Days on market

Built 1985

---

Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.9/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Remarks: Nice 2 bedroom, 2 bath Manufactured Home in Shade Tree Mobile Home Park

Key facts

• Newer tin roof
• Attached mudroom
• Built 1985

Tags

• ATTACHED MUDROOM
• NEWER TIN ROOF
• ALL APPLIANCES INCLUDED

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath land listed at $35k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $35k).
• Cap rate 52.1% vs local median 3.5% in Great Falls — 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 78/100 on livability (#19 in MT, #2,473 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, housing A+; Watch: schools C-, employment C-, crime F.
• Great Falls H S (urban): math 27% / reading 39% proficiency, ranked #79 of 116 in MT (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 131 active listings in the ZIP; solid renter incomes; 223 units permitted in Cascade County in 2024 (37 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $242 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Cascade County population projected to shrink 5% 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 $10k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 11y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

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

Recommended offer $35,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 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: 5.70% ✓
• Cap rate: 52.06%
• Cash-on-cash: 163.46%
• DSCR: 8.27
• GRM: 1.5

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: —
• Equity multiple: 9.10×
• Total profit: $79,381
• Equity at exit: $5,219

10-year hold

• IRR: —
• Equity multiple: 19.24×
• Total profit: $178,726
• Equity at exit: $3,026

Cash invested: $9,800 (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 59404

• Active inventory: 131
• Price-to-rent: 1.5×

Monthly cashflow live

• Estimated rent: $1,996 medium
• Mortgage (P&I): −$184
• Tax est. 1.5%: −$44 /mo · $525/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$419
• Net cashflow: $1,335

Break-even live

Break-even rent $306

Max offer price $35,000

Occupancy floor 28%

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: $8,750
• Closing costs: $1,050
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-05-26
   listed $35,000 Active
2. 2022-04-11
   soldstatus 80-char remark

   Show marketing remark (80 chars)

   Remarks: Nice 2 bedroom, 2 bath Manufactured Home in Shade Tree Mobile Home Park

3. 2021-11-15
   listed $50,000 80-char remark

   Show marketing remark (80 chars)

   Remarks: Nice 2 bedroom, 2 bath Manufactured Home in Shade Tree Mobile Home Park

4. 2021-02-18
   soldstatus 491-char remark

   Show marketing remark (491 chars)

   Remarks: VERY NICE 2 bedroom 2 bath home, great windows giving you a light and bright living area. Vaulted ceiling, dishwasher, air conditioning, washer/dryer, microwave, an office area, very roomy master bedroom with full bath and a walk-in closet. Electric budget billing $69 each month and gas ranged $7 - $40 depending upon the season. Secluded west side location and reasonable monthly lot rent includes water and trash. Call Jerry Wilda: 406-868-9805, or your real estate professional.

5. 2021-01-15
   listed $53,000 491-char remark

   Show marketing remark (491 chars)

   Remarks: VERY NICE 2 bedroom 2 bath home, great windows giving you a light and bright living area. Vaulted ceiling, dishwasher, air conditioning, washer/dryer, microwave, an office area, very roomy master bedroom with full bath and a walk-in closet. Electric budget billing $69 each month and gas ranged $7 - $40 depending upon the season. Secluded west side location and reasonable monthly lot rent includes water and trash. Call Jerry Wilda: 406-868-9805, or your real estate professional.

6. 2017-09-29
   soldstatus
7. 2017-08-09
   listed $21,000
8. 2015-12-15
   soldstatus
9. 2015-07-24
   listed $18,000
10. 2005-12-21
    soldstatus

ⓘ 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 6/10 Major FEMA zone X · 70% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 2/10 Low 6 d/yr ≥92°F today · 12 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 8 unhealthy d/yr today · 11 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,952
• − Mortgage interest: −$1,961
• − Property taxes: −$525
• − Insurance: −$175
• − Repairs & maintenance: −$1,916
• − Management: −$1,916
• − Depreciation: −$1,018
• Taxable income: $16,441
• Est. tax owed @ 24.0%: −$3,946
• After-tax cash flow: $12,073/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: Great Falls H S
• NCES district ID: 3013050
• Math proficiency: 27% ▼ -6.00%
• Reading proficiency: 39% ▼ -3.00%
• Median HH income: $43,586
• Composite: 28.03/100
• National rank: #6846
• State rank: #79 of 116 in MT

Livability — Great Falls

• Score: 78/100
• State rank: #19
• US rank: #2473

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Great Falls, MT
• County: Cascade County · 75,427 people
• City population: 75,427
• Metro: Great Falls, MT
• Population (ZIP): 28,822
• Household income: $83,867
• Rent vs Own: 15.1% rent · 84.9% own
• Severe rent burden: 280.0

Population outlook (Cascade County) Hauer SSP2

• Today (2025): 81,936 people
• By 2030: 81,376 · -0.7%
• By 2040: 79,435 · -3.1%
• By 2050: 77,906 · -4.9%
• By 2075: 78,595 · -4.1%
• By 2100: 79,997 · -2.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Two or more races 5% Hispanic / Latino 3% Native American 2% Asian 1% Black 1%
• Common ancestry: Portuguese 8% Slovak 3% Lithuanian 3%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · German/W. Germanic 1% Spanish 1%

Political lean MEDSL · Cascade

• 2024 margin: Strong R (+22.3) · D 37.3% · R 59.6% · Other 3.0%
• 2008→2024 swing: -24.6pp toward R · 2008: 2.3pp · 2024: -22.3pp
• All cycles: 2024: R+22.3 2020: R+19.7 2016: R+21.6 2012: R+9.1 2008: D+2.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -126.73%
• Current HPI: 208.7527
• Rent YoY: —
• Metro: Great Falls, 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

+94.4% since first listed

10 events — show timeline

• 2026-05-26 Listed $35,000 FSBO.com
• 2022-04-11 Sold (MLS) — MRMLS
• 2021-11-15 Listed $50,000 MRMLS
• 2021-02-18 Sold (MLS) — MRMLS
• 2021-01-15 Listed $53,000 MRMLS
• 2017-09-29 Sold (MLS) — MRMLS
• 2017-08-09 Listed $21,000 MRMLS
• 2015-12-15 Sold (MLS) — MRMLS
• 2015-07-24 Listed $18,000 MRMLS
• 2005-12-21 Sold (Public Records) — Public Records

Property tax history

+10.7%/yr

Latest (2025): $27,969 · -9.4% YoY. Source: county tax records.