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    419 S 3Rd Ave Bozeman, MT 59715

    Sponsored
    For Sale
    $2,695,000

    MULTI_FAMILY - Contemporary, Victorian - Bozeman, MT

    Days on Market:
    1
    Last Refresh:
    Feb 2 at 8:06 pm

    Property Features for 419 S 3Rd Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    APN
    RGG2194
    Parking features
    Garage, On Street
    Patio and Porch features
    Porch
    Interior features
    Fireplace
    Exterior features
    ConcreteDriveway, Landscaping
    Fireplace
    1
    Appliances
    Dryer, Washer

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Baseboard, Radiant, Other (Heating), Radiant Floor, Electric (Heating)
    Cooling system
    Ceiling Fan(s)
    Water source
    Public

    Building Details

    Year built
    1981
    Number of units
    3
    Flooring type
    Laminate, Carpet, Hardwood
    Building materials
    Hardboard, ShingleSiding, ShakeSiding, WoodSiding
    Roof type
    Asphalt
    Architectural style
    Contemporary, Victorian

    We can help!

    Listing Contact
    Marcie Hahn-Knoff

    Knoff Group Real Estate @ Estate House (406) 599-3530

    Listing agent Marcie Hahn-Knoff (406) 924-9559 License #BRO-16921

    Listing date Feb 2, 2026

    MLS# 408321 Listing URL

    Copyright © 2026 Big Sky Country MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Bozeman Triplex: Historic Charm, Income

    This triplex in Bozeman offers a historic footprint and a location near Main Street shopping, dining, and amenities, as well as Montana State University. The property, on the market for the first time in over 25 years, is fully rented and features three intentionally built units. The front unit, known as the Susan Kirk Residence, is a Queen Anne style two-story home with up to 5 beds, including 4 conventional beds plus a walk-through flex/office, and two baths. The main floor includes living areas, a kitchen, and a bath. The home has been maintained and includes a side driveway for parking, enclosed front and rear entryways, and historic charm with colorful paint and gingerbread elements, including scalloped shingles and exterior siding textures. An attached duplex features Piping Plovers from the Craigshead Institute's Murals of threatened and Endangered Species Project. The duplex consists of two side-by-side units, each with 5 bedrooms and 2.5 bathrooms, spacious living and kitchen areas, and additional flex space. An expandable rooftop solar array is connected to the north duplex unit and features EV charging. A concrete parking area features parking for 4 vehicles. A 2-car detached garage is currently used by the owners and includes space for a shop/storage. There are communal bike storage areas, including a covered pavilion. Yard spaces have native landscaping and raised garden planters. Mature trees and shrubs allow for privacy and shade. The property is located minutes from Montana State University, the hospital, shopping, breweries, music venues, grocery stores, restaurants, services, and amenities. It is also located 25 minutes from Bridger Bowl, 30 minutes from blue ribbon fly-fishing and river recreation, and 1 hour from Big Sky.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Bozeman
    County
    Gallatin
    State
    Montana
    Longitude
    -111.041869
    Latitude
    45.674486

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    FAQs

    What type of property is this?
    Triplex - Unique triplex in historic Bozeman, near Main Street and MSU.
    Where is this triplex located?
    The property is located at 419 S 3Rd Ave Bozeman, MT.
    What is the asking price?
    The asking price for this property is $2,695,000.
    What are key features of this property?
    This property features: - High-performing triplex in a coveted historic Bozeman location, blocks from Main Street and minutes from Montana State University.; - Proven income stream for over 25 years with a 5.8% cap rate, fully rented.; - Unique property consisting of a charming Queen Anne style home (Susan Kirk Residence) and an attached duplex.
    (406) 924-9559
    Request Owner's contact information
    419 S 3Rd Ave Bozeman, MT 59715
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    Bozeman, MT 59715
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    419 S 3Rd Ave Bozeman, MT 59715
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    We can help!
    Listing Contact
    Marcie Hahn-Knoff
    Real Estate License ID: BRO-16921
    (406) 924-9559
    Learn more
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