Updated Duplex With Carriage
For Sale
$995,000
340 South Avenue W, Missoula, MT 59801
Missoula, MT
Property Size3,388 SF
Price / SF$293.68
Days on Market41
Property Features for 340 South Avenue W
General Information
Property type
Residential Multi Family
Property subtype
Other
Standard status
Active
Building Details
Year built
1951
Listing Agency:
Engel & Volkers Missoula · Engel & Völkers
(406) 926-3322
Listed By:
Beth Baumstark · License #RRE-RBS-LIC-119411
(406) 370-3562
Added: Aug 13
Changed: Aug 24
Last Checked: Sep 22 at 9:06AM
MLS# 30072597
Copyright © 2026 Engel & Völkers. 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.
This duplex property includes a 1951 main residence and a separate 1910 carriage house studio. The primary home contains 3,068 square feet, five bedrooms, two bathrooms, an eat-in kitchen with original cabinetry, refinished hardwood flooring, a gas fireplace, updated windows, and a finished basement. The lower level adds two conforming bedrooms, a living room, a three-quarter bathroom, a television room, and storage, with a layout that can be locked off for added flexibility.
The 320-square-foot carriage house has independent access, separate water and power, a fenced yard, and upgraded bathroom finishes, flooring, roof, furnace, patio, fence, and exterior paint. Site improvements include a true two-car garage with a reinforced beam, sheetrock, full paint, and a newer side entrance, along with a rebuilt driveway. Combined finished area totals 3,388 square feet at 340 South Avenue W in Missoula.
The 320-square-foot carriage house has independent access, separate water and power, a fenced yard, and upgraded bathroom finishes, flooring, roof, furnace, patio, fence, and exterior paint. Site improvements include a true two-car garage with a reinforced beam, sheetrock, full paint, and a newer side entrance, along with a rebuilt driveway. Combined finished area totals 3,388 square feet at 340 South Avenue W in Missoula.
Key Highlights
- Two independent dwellings totaling 3,388 sq ft
- Main residence measures 3,068 sq ft with 5 bedrooms and 2 bathrooms
- Original 1910 carriage house includes 320 sq ft of finished space
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
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Two separately accessed residences offer flexible occupancy, dedicated utilities, and a detached-style studio with its own fenced yard.
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 independent dwellings totaling 3,388 sq ft; Main residence measures 3,068 sq ft with 5 bedrooms and 2 bathrooms; Original 1910 carriage house includes 320 sq ft of finished space
