Renovated Duplex with
For Sale
Contact for pricing
1021 Leslie Avenue, Helena, MT 59601
Updated duplex with a separate-entry lower unit, fenced yard, and detached garage with additional upper-level space.
Property Size3,036 SF
Lot Size0.21 Acres
Price / SF$174.54
Days on Market149
Property Features for 1021 Leslie Avenue
General Information
Standard status
Active
Size
3,036 SF
Total Parking Spaces
2
Lot size
0.21 Acres
Property subtype
Multifamily
Additional Details
Multifamily Units
2
Amenities
fireplace
hot tub
fenced backyard
Building Details
Year Built
1951
Buildings
1
Units
2
Listing Agency:
Ahmann Brothers Real Estate
Listed By:
Flannery Herbert · License #RRE-RBS-LIC-17209
(406) 431-2337
Source:
Crexi
Added: Apr 7
Changed: Aug 31
Last Checked: Sep 2 at 2:38AM
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 Ahmann Brothers Real Estate
Investment Insights
Based on property information with market context.
This 3,036-square-foot duplex was built in 1951 and includes a renovated primary residence with four bedrooms, updated bathrooms, and a kitchen featuring granite countertops, a backsplash, crown molding, a bar, and a peninsula. A fireplace anchors the living room, while recently replaced windows, solid-surface flooring, and a separate-entry lower level add practical appeal. The lower level provides sleeping space, living space, a kitchen, and a renovated bathroom.
The 9,365-square-foot lot includes a fenced backyard with hedges, mature trees, and a hot tub. A detached two-car garage offers upper-level storage space that may also serve as a studio or workshop. The property is located at 1021 Leslie Avenue in Helena, Montana, with Mount Helena views.
The 9,365-square-foot lot includes a fenced backyard with hedges, mature trees, and a hot tub. A detached two-car garage offers upper-level storage space that may also serve as a studio or workshop. The property is located at 1021 Leslie Avenue in Helena, Montana, with Mount Helena views.
Key Highlights
- 3,036 SF duplex built in 1951
- Separate‑entry lower level with sleeping, living, kitchen, and renovated bath areas
- Primary residence includes four bedrooms and renovated bathrooms
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
$27,421
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
5.17%
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%
$548,420
$548.4K
Cap Rate 7%
$391,729
$391.7K
Cap Rate 9%
$304,678
$304.7K
Market Conditions
NOI Build-Up for 3,036 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
$41.9K $13.80/SF
− Vacancy
−$2.7K −$0.90/SF
EGI
$39.2K $12.90/SF
− OpEx
−$11.8K −$3.87/SF
NOI
$27.4K $9.03/SF
Area
Lewis and Clark County, MT
Vacancy
6.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
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%
$548,420
Cap Rate 7%
$391,729
Cap Rate 9%
$304,678
Alternative Uses
Best Use
Multifamily LT 5
$391.7K
$342.8K – $457.0K
NOI $27,421 @ 7.0% cap · market cap 5.17%
Second Best
Apartment 5plus
$367.1K
$321.2K – $428.3K
NOI $25,698 @ 7.0% cap · market cap 4.85%
Theoretical Best
Office A
$659.5K
$577.1K – $769.5K
NOI $46,167 @ 7.0% cap · market cap 8.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
363
Businesses Nearby
Explore this area
Business Placement
Demographics for 59601, MT
30,848
Population
15,937
Households
1.9
Avg Household Size
41
Median Age
51%
College-Educated
96%
High-School Grad
130.2 sq mi
ZIP Area
237
Density / Sq Mi
$70,502
Median Household Income
$44,000
Median Earnings
$1,023
Median Rent
$355,000
Median Home Value
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 - Updated duplex with a separate-entry lower unit, fenced yard, and detached garage with additional upper-level space.
Where is this duplex located?
The property is located at 1021 Leslie Avenue Helena, MT.
What is the asking price?
The asking price for this property is $529,900.
What are key features of this property?
This property features: 3,036 SF duplex built in 1951; Separate‑entry lower level with sleeping, living, kitchen, and renovated bath areas; Primary residence includes four bedrooms and renovated bathrooms
