Duplex With Separate Carriage
For Sale
$995,000
340 South Avenue W, Missoula, MT 59801
ResidentialIncome, Missoula, MT
Property Size3,388 SF
Lot Size0.19 Acres
Price / SF$293.68
Days on Market112
Property Features for 340 South Avenue W
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Residential
Zoning description
1
Rooms
Laundry Room, Basement
Parking features
Garage, On Street, Open
Security features
Security
Interior features
Fireplace, MainLevelPrimary
Exterior features
RainGutters
Fireplace
1
Appliances
Dryer, Dishwasher, Range, Refrigerator, Washer
Lot features
Back Yard, Front Yard, Landscaped, Level, Sprinklers In Ground
Directions
Google/Apple Maps will get you there. SW corner of South Ave West and Park Street.
Standard status
Active
APN
04220028404010000
Lot size
0.19 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
HOMEVALE ADDITION, S28, T13,R19W, BLOCK 44. LOT 13-14
Tax Annual Amount
6967
Legal Description
HOMEVALE ADDITION, S28, T13,R19W, BLOCK 44. LOT 13-14
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Water source
Public
Building Details
Year built
1951
Floors in Building
2
Number of units
2
Listing Agency:
Engel & Volkers Western Frontier - Missoula · Engel & Völkers
(406) 926-3322
Listed By:
Beth Baumstark · License #RRE-RBS-LIC-119411
(406) 370-3562
Added: Jun 3
Changed: Sep 22
Last Checked: Sep 22 at 9:06AM
MLS# 30072597
Copyright © 2026 Montana Regional MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1951, this duplex includes a 3,068-square-foot main residence and a separate 320-square-foot carriage house on a 0.186-acre lot. The primary home offers five bedrooms, two bathrooms, an eat-in kitchen, original cabinetry, refinished hardwood floors, a gas fireplace, updated windows and trim, and a finished basement with two conforming bedrooms, a living room, and a three-quarter bathroom. The basement can be secured separately from the main living areas.
The 1910 carriage house is a studio residence with its own entrance, fenced yard, separate water and power, and a history of long-term rental use. Property improvements include roof replacement, exterior and interior paint, bathroom updates, a new furnace, fence and patio work, and refinished hardwood floors. A true two-car garage, rebuilt driveway, public water, and public sewer complete the property.
The 1910 carriage house is a studio residence with its own entrance, fenced yard, separate water and power, and a history of long-term rental use. Property improvements include roof replacement, exterior and interior paint, bathroom updates, a new furnace, fence and patio work, and refinished hardwood floors. A true two-car garage, rebuilt driveway, public water, and public sewer complete the property.
Key Highlights
- Two residences totaling 3,388 sq ft: 3,068 sq ft main home and 320 sq ft carriage house
- Main residence includes 5 bedrooms, 2 bathrooms, and a finished basement with 2 conforming bedrooms
- 1910 carriage house studio has independent access, separate water and power, and a fenced yard
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$36,167
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.63%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$723,340
$723.3K
Cap Rate 7%
$516,671
$516.7K
Cap Rate 9%
$401,856
$401.9K
Market Conditions
NOI Build-Up for 3,388 SF
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.
Gross rent
$71.6K $21.12/SF
− Vacancy
−$5.8K −$1.71/SF
EGI
$65.8K $19.41/SF
− OpEx
−$29.6K −$8.73/SF
NOI
$36.2K $10.68/SF
Area
Missoula County, MT
Vacancy
8.10%
Lease Rate
$21.12 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$723,340
Cap Rate 7%
$516,671
Cap Rate 9%
$401,856
Alternative Uses
Best Use
Apartment 5plus
$516.7K
$452.1K – $602.8K
NOI $36,167 @ 7.0% cap · market cap 3.63%
Second Best
Multifamily LT 5
$484.3K
$423.8K – $565.0K
NOI $33,902 @ 7.0% cap · market cap 3.41%
Theoretical Best
Specialty Retail
$976.8K
$854.7K – $1.14M
NOI $68,378 @ 7.0% cap · market cap 6.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,009
Businesses Nearby
Explore this area
Business Placement
Demographics for 59801, MT
30,629
Population
15,814
Households
1.9
Avg Household Size
34
Median Age
51%
College-Educated
97%
High-School Grad
7.7 sq mi
ZIP Area
3,978
Density / Sq Mi
$55,022
Median Household Income
$34,320
Median Earnings
$1,086
Median Rent
$393,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two independently accessed residences offer flexible living arrangements and an established rental component.
Where is this duplex located?
The property is located at 340 South Avenue W Missoula, MT.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Two residences totaling 3,388 sq ft: 3,068 sq ft main home and 320 sq ft carriage house; Main residence includes 5 bedrooms, 2 bathrooms, and a finished basement with 2 conforming bedrooms; 1910 carriage house studio has independent access, separate water and power, and a fenced yard
