Furnished Duplex with
New
For Sale
$375,000
1011 N 22nd Street, Billings, MT 59101
Residential, Billings, MT
Property Size1,952 SF
Lot Size0.16 Acres
Price / SF$192.11
Days on Market2
Property Features for 1011 N 22nd Street
General Information
Property type
Residential Multi Family
Property subtype
Single Family Residence
Zoning description
N1 - First Neighborhood Residential
Bedrooms
3
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1, Bedroom 3, Bedroom 2, Bedroom 1
Subdivision
Burnstead
Elementary school
Mckinley
Middle school
Riverside
High school
Senior High
Standard status
Active
APN
D05782
Size
1,952 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Description
BURNSTEAD SUBD, S33, T01 N, R26 E, Lot 7, S50 FT OF N340 FT
Tax Annual Amount
1745
Legal Description
BURNSTEAD SUBD, S33, T01 N, R26 E, Lot 7, S50 FT OF N340 FT
Utilities
Sewer type
Public Sewer
Cooling system
Central Air
Water source
Public
Amenities
shared laundry
secluded backyard
Building Details
Year built
1953
Floors in Building
1
Number of units
2
Architectural style
Ranch
Listing Agency:
eXp Realty, LLC - Billings
(406) 578-4399
Listed By:
Michael Fisher · License #RRE-RBS-LIC-108995
(406) 861-9190
Added: Oct 21
Changed: Oct 22
Last Checked: Oct 22 at 9:06PM
MLS# 362460
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.
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Investment Insights
Based on property information with market context.
This 1,952-square-foot duplex has an upper unit with two bedrooms and one bathroom, and a lower unit with one bedroom and one bathroom. Each residence has its own entrance, and laundry is shared. Furnishings are included. The property also has a single-car garage and a backyard. Renovation work was completed within the past year; central air is installed.
The upstairs unit operates as a short-term rental, while the downstairs is occupied on a month-to-month basis. Billings Best Properties currently manages the property. The 0.1607-acre parcel is served by public water and public sewer and is located in Billings, Montana.
The upstairs unit operates as a short-term rental, while the downstairs is occupied on a month-to-month basis. Billings Best Properties currently manages the property. The 0.1607-acre parcel is served by public water and public sewer and is located in Billings, Montana.
Key Highlights
- 1,952‑square‑foot duplex with a two‑bedroom upper unit and a one‑bedroom lower unit
- Renovation completed within the past year; furnishings included
- Separate entrances for both units, with shared laundry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,819
Cap Rate
4.75%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$356,380
$356.4K
Cap Rate 7%
$254,557
$254.6K
Cap Rate 9%
$197,989
$198.0K
Market Conditions
NOI Build-Up for 1,952 SF
Gross rent
$26.9K $13.80/SF
− Vacancy
−$1.5K −$0.76/SF
EGI
$25.5K $13.04/SF
− OpEx
−$7.6K −$3.91/SF
NOI
$17.8K $9.13/SF
Area
Billings, MT
Vacancy
5.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$356,380
Cap Rate 7%
$254,557
Cap Rate 9%
$197,989
Alternative Uses
Best Use
Multifamily LT 5
$254.6K
$222.7K – $297.0K
NOI $17,819 @ 7.0% cap · market cap 4.75%
Second Best
Apartment 5plus
$236.0K
$206.5K – $275.4K
NOI $16,523 @ 7.0% cap · market cap 4.41%
Theoretical Best
Office A
$425.9K
$372.7K – $496.9K
NOI $29,814 @ 7.0% cap · market cap 7.95%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,236
Businesses Nearby
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Business Placement
Demographics for 59101, MT
41,522
Population
18,864
Households
2.2
Avg Household Size
37
Median Age
22%
College-Educated
91%
High-School Grad
590.8 sq mi
ZIP Area
70
Density / Sq Mi
$58,165
Median Household Income
$36,258
Median Earnings
$930
Median Rent
$243,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Two separate living units support distinct rental arrangements, with laundry shared between them.
Where is this duplex located?
The property is located at 1011 N 22nd Street Billings, MT.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: 1,952‑square‑foot duplex with a two‑bedroom upper unit and a one‑bedroom lower unit; Renovation completed within the past year; furnishings included; Separate entrances for both units, with shared laundry
