113/115 Alderson Avenue Billings, MT 59101
MULTI_FAMILY - Billings, MT
- Added:
- Jul 12, 2026
- Days on Market:
- 1
- Last Refresh:
- Jul 12 at 6:06 pm
Property Features for 113/115 Alderson Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 6
- Rooms
- Bedroom 3, Bedroom 5, Bedroom 2, Bedroom 4, Bathroom 1, Bathroom 2, Bedroom 6, Bedroom 1
- Parking
- 5
- Standard status
- Active
- APN
- A17776
- Size
- 2,949 SF
- Lot size
- 0.16 Acres
Taxes and HOA fees
- Tax Description
- WEST SIDE ADD, S04, T01 S, R26 E, BLOCK 8, Lot 7 - 8
- Tax Annual Amount
- 2912
Utilities
- Sewer type
- Public Sewer
- Heating system
- Natural Gas, Forced Air
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1916
- Number of units
- 2
Listing agent Todd Harp License #RRE-BRO-LIC-136388 (406) 591-2999
Listing office Century 21 Americana 1605 Shiloh Rd, Billings, MT (406) 294-2121
Listing date Jul 12, 2026
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.
The listing describes the property as providing quick access to downtown, hospitals, shopping, dining, and everyday amenities.
Set on a 0.1607-acre lot, the property totals 2,949 square feet across the existing home and the new ADU, with the on-site improvements intended to broaden practical options for long-term living or rental use.
Key Highlights
- 1916 bungalow plus a newly constructed ADU
- Central air conditioning with forced air heating and natural gas
- Public water and public sewer
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $40.7k | $13.80 |
| − Vacancy | −$2.2k | −$0.76 |
| EGI | $38.5k | $13.04 |
| − OpEx | −$11.5k | −$3.91 |
| NOI | $26.9k | $9.13 |
