Residential Income
For Sale
$545,000
1016 Worden Avenue, Missoula, MT 59802
Built in 1910 with varied heating systems and basic kitchen appliances.
Property Size2,060 SF
Days on Market50
Property Features for 1016 Worden Avenue
General Information
Standard status
Active
Size
2,060 SF
Property subtype
Residential Income
Zoning
U-R3
Taxes and HOA fees
Annual Taxes
$2,807
Amenities
Sidewalks
Natural Gas, Baseboard, Electric, Forced Air
Partially Finished, Concrete
Range, Refrigerator
Building Details
Building Size
2,060 SF
Year Built
1910
Listing Agency:
Ink Realty Group
(406) 880-3797
Listed By:
Russell Talmo · License #RRE-RBS-LIC-89783
(406) 880-3797
Source:
Evrealestate
Added: Jul 3
Changed: Aug 20
Last Checked: Aug 20 at 4:39AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Ink Realty Group
Investment Insights
Based on property information with market context.
This residential income property dates to 1910 and includes a range, refrigerator, and several heating-related features. The interior information identifies natural gas, baseboard, electric, and forced-air systems, along with a partially finished concrete area.
The property is located at 1016 Worden Avenue in Missoula, Montana, within U-R3 zoning. Access directions reference Orange Street, 5th Street, and Worden Avenue.
The property is located at 1016 Worden Avenue in Missoula, Montana, within U-R3 zoning. Access directions reference Orange Street, 5th Street, and Worden Avenue.
Key Highlights
- 1910 construction
- U‑R3 zoning
- Natural gas, baseboard, electric, and forced‑air features
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
$21,991
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
4.04%
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%
$439,820
$439.8K
Cap Rate 7%
$314,157
$314.2K
Cap Rate 9%
$244,344
$244.3K
Market Conditions
NOI Build-Up for 2,060 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
$43.5K $21.12/SF
− Vacancy
−$3.5K −$1.71/SF
EGI
$40.0K $19.41/SF
− OpEx
−$18.0K −$8.73/SF
NOI
$22.0K $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%
$439,820
Cap Rate 7%
$314,157
Cap Rate 9%
$244,344
Alternative Uses
Best Use
Apartment 5plus
$314.2K
$274.9K – $366.5K
NOI $21,991 @ 7.0% cap · market cap 4.04%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$593.9K
$519.7K – $692.9K
NOI $41,576 @ 7.0% cap · market cap 7.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,541
Businesses Nearby
Explore this area
Business Placement
Demographics for 59802, MT
19,892
Population
10,416
Households
1.9
Avg Household Size
37
Median Age
52%
College-Educated
96%
High-School Grad
45.4 sq mi
ZIP Area
438
Density / Sq Mi
$65,054
Median Household Income
$36,541
Median Earnings
$1,021
Median Rent
$420,200
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Built in 1910 with varied heating systems and basic kitchen appliances.
Where is this residential income property located?
The property is located at 1016 Worden Avenue Missoula, MT.
What is the asking price?
The asking price for this property is $545,000.
What are key features of this property?
This property features: 1910 construction; U‑R3 zoning; Natural gas, baseboard, electric, and forced‑air features
