4-Unit Multifamily
For Sale
$649,000
105 Turner Court, Missoula, MT 59802
Spacious four-unit building requiring significant updates and repairs, with functional layouts throughout.
Property Size3,472 SF
Price / SF$186.92
Days on Market109
Property Features for 105 Turner Court
General Information
Standard status
Active
Size
3,472 SF
Property subtype
Multi Family Home
Property Condition
Severity
Major Repairs Needed
Evidence
needs significant updates and repairs
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$4,232
Amenities
Garage Spaces: 0
Style: Split Level
Split Level
Building Details
Year Built
1979
Listing Agency:
Berkshire Hathaway HomeServices - Missoula
Listed By:
Scott R Smith · License #3761
Source:
Clearwaterproperties
Added: May 14
Changed: Aug 30
Last Checked: Apr 23 at 2:28AM
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 Berkshire Hathaway HomeServices - Missoula
Investment Insights
Based on property information with market context.
Built in 1979, this four-unit multifamily property offers spacious residences with functional layouts. The building requires significant updating and repair work, making its current physical condition an important consideration for prospective purchasers.
The property is located at 105 Turner Court in Missoula, near downtown and multiple city parks. It is designated under zoning code 1. Showings are planned for one unit, with access to the remaining units subject to an offer contingent on inspection.
The property is located at 105 Turner Court in Missoula, near downtown and multiple city parks. It is designated under zoning code 1. Showings are planned for one unit, with access to the remaining units subject to an offer contingent on inspection.
Key Highlights
- Four‑unit multifamily property at 105 Turner Court, Missoula, MT 59802
- Built in 1979
- Spacious units with functional layouts
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
$37,064
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
5.71%
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%
$741,280
$741.3K
Cap Rate 7%
$529,486
$529.5K
Cap Rate 9%
$411,822
$411.8K
Market Conditions
NOI Build-Up for 3,472 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
$73.3K $21.12/SF
− Vacancy
−$5.9K −$1.71/SF
EGI
$67.4K $19.41/SF
− OpEx
−$30.3K −$8.73/SF
NOI
$37.1K $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%
$741,280
Cap Rate 7%
$529,486
Cap Rate 9%
$411,822
Alternative Uses
Best Use
Apartment 5plus
$529.5K
$463.3K – $617.7K
NOI $37,064 @ 7.0% cap · market cap 5.71%
Second Best
Multifamily LT 5
$496.3K
$434.3K – $579.1K
NOI $34,743 @ 7.0% cap · market cap 5.35%
Theoretical Best
Specialty Retail
$1.00M
$875.9K – $1.17M
NOI $70,074 @ 7.0% cap · market cap 10.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
296
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Spacious four-unit building requiring significant updates and repairs, with functional layouts throughout.
Where is this quadplex located?
The property is located at 105 Turner Court Missoula, MT.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: Four‑unit multifamily property at 105 Turner Court, Missoula, MT 59802; Built in 1979; Spacious units with functional layouts
