Single-Level Duplex With Covered
For Sale
$769,800
1127 - 1129 Buffalo Crossing Drive, Billings, MT 59106
Residential, Billings, MT
Property Size3,104 SF
Lot Size0.21 Acres
Price / SF$248
Days on Market39
Property Features for 1127 - 1129 Buffalo Crossing Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Zoning description
N2 - Mid-Century Neighborhood Residential
Bedrooms
6
Full bathrooms
4
Half bathrooms
2
Rooms
Bedroom 4, Bedroom 2, Bathroom 2, Bathroom 3, Bedroom 3, Bedroom 6, Bedroom 1, Bathroom 5, Bathroom 6, Bathroom 4, Bedroom 5, Bathroom 1
Parking
2
Parking features
Open
Exterior features
Fence
Fencing
Fenced
Subdivision
Buffalo Crossing Sub
Lot features
Landscaped, Level
Elementary school
Meadowlark
Middle school
Ben Steele
High school
West
Standard status
Active
APN
A38206V
Size
3,104 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Description
BUFFALO CROSSING TOWNHOMES (26), S05, T01 S, R25 E, UNIT 1127 & 1129, 4.167% COMMON AREA INTEREST, LOC @ LTS 7-9, BLK 1;LTS 1-6,BLK 2;LTS 4-6, BLK 3
Legal Description
BUFFALO CROSSING TOWNHOMES (26), S05, T01 S, R25 E, UNIT 1127 & 1129, 4.167% COMMON AREA INTEREST, LOC @ LTS 7-9, BLK 1;LTS 1-6,BLK 2;LTS 4-6, BLK 3
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Water source
Public
Amenities
fireplace
stainless steel appliances
master suite
walk-in closet
private bath
dual sinks
laundry
front porch
covered back patio
Building Details
Year built
2025
Floors in Building
1
Number of units
2
Building materials
AluminumSiding, VinylSiding
Roof type
Shingle, Asphalt
Architectural style
Ranch
Listing Agency:
Metro, REALTORS L.L.P
(406) 245-9300
Listed By:
Polly Kovash · License #RRE-BRO-LIC-4133
(406) 591-5555
Added: Jul 20
Changed: Aug 26
Last Checked: Aug 27 at 1:06AM
MLS# 358285
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.
Investment Insights
Based on property information with market context.
This 3,104-square-foot duplex is under construction and planned with single-level ranch-style interiors. The property includes two residential layouts with bright living areas, vaulted ceilings, fireplaces, kitchens equipped with stainless-steel appliances, bedrooms, bathrooms, laundry areas, and mud rooms. Primary suites include walk-in closets and private bathrooms with dual sinks. Covered rear patios and front porches extend the usable living space, while fencing provides defined outdoor areas.
Built in 2025, the property features aluminum and vinyl siding, asphalt-shingle roofing, forced-air natural gas heating, central air conditioning, public water, and public sewer. Open parking is provided on the 0.2123-acre parcel. The property is located in Billings near a newer school, restaurants, a modern grocery store, and indoor golf facilities.
Built in 2025, the property features aluminum and vinyl siding, asphalt-shingle roofing, forced-air natural gas heating, central air conditioning, public water, and public sewer. Open parking is provided on the 0.2123-acre parcel. The property is located in Billings near a newer school, restaurants, a modern grocery store, and indoor golf facilities.
Key Highlights
- Duplex under construction on a 0.2123‑acre parcel
- 3,104 square feet of single‑level ranch‑style living space
- Built in 2025 with forced‑air natural gas heat and central air
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
$28,335
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
3.68%
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%
$566,700
$566.7K
Cap Rate 7%
$404,786
$404.8K
Cap Rate 9%
$314,833
$314.8K
Market Conditions
NOI Build-Up for 3,104 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
$42.8K $13.80/SF
− Vacancy
−$2.4K −$0.76/SF
EGI
$40.5K $13.04/SF
− OpEx
−$12.1K −$3.91/SF
NOI
$28.3K $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 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%
$566,700
Cap Rate 7%
$404,786
Cap Rate 9%
$314,833
Alternative Uses
Best Use
Multifamily LT 5
$404.8K
$354.2K – $472.3K
NOI $28,335 @ 7.0% cap · market cap 3.68%
Second Best
Apartment 5plus
$375.3K
$328.4K – $437.9K
NOI $26,274 @ 7.0% cap · market cap 3.41%
Theoretical Best
Office A
$677.3K
$592.6K – $790.2K
NOI $47,409 @ 7.0% cap · market cap 6.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
22
Businesses Nearby
Explore this area
Business Placement
Demographics for 59106, MT
20,681
Population
8,164
Households
2.5
Avg Household Size
40
Median Age
52%
College-Educated
98%
High-School Grad
112.0 sq mi
ZIP Area
185
Density / Sq Mi
$122,374
Median Household Income
$52,380
Median Earnings
$1,380
Median Rent
$483,100
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 - Ranch-style duplex with fenced outdoor areas, public utilities, and efficient residential layouts designed for comfortable daily living.
Where is this duplex located?
The property is located at 1127 - 1129 Buffalo Crossing Drive Billings, MT.
What is the asking price?
The asking price for this property is $769,800.
What are key features of this property?
This property features: Duplex under construction on a 0.2123‑acre parcel; 3,104 square feet of single‑level ranch‑style living space; Built in 2025 with forced‑air natural gas heat and central air
