Building Details

Year Built 1942

Listing Agency: Heavenly Homes, Inc. j*@jlorang.com Show Phone

Listed By: Jacque Lorang · License #RRE-BRO-LIC-16393

Source: Clearwaterproperties

Added: Aug 19 Changed: Aug 29 Last Checked: Aug 29 at 8:51PM

Report an Issue

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 Heavenly Homes, Inc.

Investment Insights

Based on property information with market context.

This four-residence property occupies 0.43 acres in Absarokee and includes a one-bedroom cottage, a two-bedroom house, a one-bedroom cabin, and a three-bedroom, two-bathroom mobile home. The cottage measures 336 sqft and dates to 1943, while the house provides 1,104 sqft and was built in 1942. The cabin was completed in 2020. The cottage and cabin operate as Airbnb rentals, with guest ratings of 4.88 and 4.97 stars, respectively; the house and mobile home are identified as long-term rentals. The Airbnb units may be sold fully furnished.

The property includes additional parking and is positioned near the Stillwater River, Absarokee Beartooth Wilderness, Red Lodge Ski Resort, and Stillwater Mine. The four-unit configuration combines multiple residential formats within one Absarokee holding.

Key Highlights

• Four‑unit property on 0.43 acres in Absarokee
• Unit mix includes a 1BR cottage, 2BR/1BA house, 1BR cabin, and 3BR/2BA mobile home
• Cottage offers 336 sqft and was built in 1943

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

$24,100

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

6.43%

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%

$482,000 $482.0K

Cap Rate 7%

$344,286 $344.3K

Cap Rate 9%

$267,778 $267.8K

Market Conditions

NOI Build-Up for 2,640 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

$36.4K $13.80/SF

− Vacancy

−$2.0K −$0.76/SF

EGI

$34.4K $13.04/SF

− OpEx

−$10.3K −$3.91/SF

NOI

$24.1K $9.13/SF

Area

Stillwater County, 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%

$482,000

Cap Rate 7%

$344,286

Cap Rate 9%

$267,778

Alternative Uses

Best Use

Multifamily LT 5

$344.3K

$301.3K – $401.7K (±1% cap)

NOI $24,100 @ 7.0% cap · market cap 6.43%

Second Best

Apartment 5plus

$319.2K

$279.3K – $372.4K (±1% cap)

NOI $22,346 @ 7.0% cap · market cap 5.96%

Theoretical Best

Office A

$576.0K

$504.0K – $672.0K (±1% cap)

NOI $40,322 @ 7.0% cap · market cap 10.75%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Quadplexes

Suggested Use

Top Pick Plumbing Service (Bike/Boat/Book/etc) Store Auto Repair Shop Storage Facility Dental Office Big Box & Wholesale Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

4

Residential units

Location Intelligence

Trade Area within ½ mile

130

Businesses Nearby

Explore this area Business Placement

Demographics for 59001, MT

1,392

Population

807

Households

1.7

Avg Household Size

51

Median Age

34%

College-Educated

95%

High-School Grad

142.8 sq mi

ZIP Area

10

Density / Sq Mi

$75,938

Median Household Income

$33,200

Median Earnings

$1,011

Median Rent

$312,400

Median Home Value

Market

Vacancy Rate% for Multifamily in West region

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this quadplexes located? What is the asking price? Find similar properties ... What are key features of this property?

Ask Rey about this property ...

Similar For Sale Nearby

Newly Renovated 5-Plex Apartment Building

117 E Church Street, Absarokee, MT 59001

$788,500

6,240 SF

View details

Renovated 5-Plex Income Property

117 Church, Absarokee, MT 59001

$788,500

6,240 SF

View details

Bungalow Quadplex with Rental Mix

12, 14, 16, 18 Montana Avenue, Absarokee, MT 59001

$375,000

2,640 SF

View details

Frequently Asked Questions

What type of property is this?

Quadplex - Four separate residences combine short-term and long-term rental formats in Absarokee.

Where is this quadplex located?

The property is located at 12 14 16 18 Montana Absarokee, MT.

What is the asking price?

The asking price for this property is $375,000.

What are key features of this property?

This property features: Four‑unit property on 0.43 acres in Absarokee; Unit mix includes a 1BR cottage, 2BR/1BA house, 1BR cabin, and 3BR/2BA mobile home; Cottage offers 336 sqft and was built in 1943