22 Jefferson Street, Billings, MT 59101
MULTI_FAMILY - Bungalow, Ranch - Billings, MT
- Added:
- Jun 12, 2026
- Days on Market:
- 16
- Last Refresh:
- Jun 27 at 5:06 pm
Property Features for 22 Jefferson Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Single Family Residence
- Bedrooms
- 3
- Rooms
- Bedroom 1, Bedroom 3, Bathroom 1, Bathroom 2, Bedroom 2
- Standard status
- Active
- APN
- A14622
- Size
- 1,328 SF
- Lot size
- 0.14 Acres
Taxes and HOA fees
- Tax Description
- STATE REALTY ADD, S10, T01 S, R26 E, BLOCK 2, Lot 13 - 14
- Tax Annual Amount
- 1397
Utilities
- Sewer type
- Public Sewer
- Heating system
- Natural Gas, Forced Air
- Cooling system
- Wall Unit(s)
- Water source
- Public
Building Details
- Year built
- 1939
- Floors in Building
- 1
- Number of units
- 2
- Roof type
- Asphalt, Shingle
- Architectural style
- Ranch, Bungalow
Listing agent Shonna Ruble License #RRE-BRO-LIC-39364 (406) 839-6428
Listing office LPT Realty 2550 Enterprise Avenue, Billings, MT (406) 591-0955
Listing date Jun 12, 2026
Copyright © 2026 Billings Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Two homes on one lot, tenant occupied with a strong rental history
- Front home has 2 bedrooms plus an upstairs bonus room; minor remodel includes newer flooring plus a furnace and hot water heater about 6 years old
- Second home has 1 bedroom plus a bonus room and a newer hot water heater
- Second home includes an attached two‑stall garage
- Heating: natural gas forced air; cooling: wall units
- Public utilities: public water and public sewer
Overview
The site is located at 22 Jefferson Street in Billings, Montana, within Yellowstone County. The offering is described as tenant occupied, supporting a turnkey transition for qualified buyers.
For investors, the key practical advantage is having two separate dwelling units already in place on a single lot, with multiple bedroom configurations and on-site utility improvements noted for each home. A buyer or buyer’s agent should verify all details and confirm the condition and age of mechanicals and finishes during due diligence, as information is deemed reliable but not guaranteed.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $18.3k | $13.80 |
| − Vacancy | −$1.0k | −$0.76 |
| EGI | $17.3k | $13.04 |
| − OpEx | −$5.2k | −$3.91 |
| NOI | $12.1k | $9.13 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Billings
- County
- Yellowstone
- State
- Montana
- Longitude
- -108.512842
- Latitude
- 45.769014
