Two-Home Short-Term Rental
New
For Sale
$749,900
121 & 135 Boon Road, Somers, MT 59932
Two residences offer flexible layouts, separate outdoor areas, and access to Flathead Lake recreation.
Property Size4,295 SF
Days on Market2
Property Features for 121 & 135 Boon Road
General Information
Standard status
Active
Size
4,295 SF
Property subtype
Residential Income
Zoning
Scenic Corridor
Units
Unit Mix
1 x 4BR/3BA, 1 x 1BR/1BA
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$4,339
Amenities
private fenced yard
covered patio
dedicated storage
wraparound deck
patios
beautifully landscaped grounds
Building Details
Building Size
4,295 SF
Year Built
1912
Buildings
2
Stories
2
Units
2
Listing Agency:
Performance Real Estate, Inc.
(406) 217-5705
Listed By:
Mark Jason Kuhl · License #45209
(406) 217-5705
Source:
Avatarrealtymt
Added: Aug 9
Changed: Aug 10
Last Checked: Aug 10 at 3:59AM
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 Performance Real Estate, Inc.
Investment Insights
Based on property information with market context.
This property includes two residences on one lot. The primary home contains 4 bedrooms and 3 bathrooms, with an open living arrangement, a main-level primary suite, office, laundry room, upper-level suite, bonus space, wraparound deck, and patios. The detached guest house has been fully remodeled and includes a kitchen, living area, loft bedroom, full bathroom, private fenced yard, covered patio, and dedicated storage. Both homes have fresh interior paint, while the grounds include landscaping and natural rock outcroppings.
The property is within walking distance of Somers Beach State Park, a public boat launch, and the Great Northern Rails to Trails. Flathead Lake, Kalispell, Lakeside, and Blacktail Mountain Ski Area are also identified as nearby destinations. Zoning is Scenic Corridor, and the property has a shared well, private septic, no covenants, and short-term rentals are allowed.
The property is within walking distance of Somers Beach State Park, a public boat launch, and the Great Northern Rails to Trails. Flathead Lake, Kalispell, Lakeside, and Blacktail Mountain Ski Area are also identified as nearby destinations. Zoning is Scenic Corridor, and the property has a shared well, private septic, no covenants, and short-term rentals are allowed.
Key Highlights
- Two residences on one lot, including a 4‑bedroom, 3‑bath main home
- Detached guest house with remodeled interiors, loft bedroom, kitchen, full bathroom, and private fenced yard
- Main residence includes a main‑level primary suite, office, laundry room, upper‑level suite, and bonus space
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
$40,087
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
5.35%
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%
$801,740
$801.7K
Cap Rate 7%
$572,671
$572.7K
Cap Rate 9%
$445,411
$445.4K
Market Conditions
NOI Build-Up for 4,295 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
$75.8K $17.64/SF
− Vacancy
−$2.9K −$0.67/SF
EGI
$72.9K $16.97/SF
− OpEx
−$32.8K −$7.64/SF
NOI
$40.1K $9.33/SF
Area
Flathead County, MT
Vacancy
3.80%
Lease Rate
$17.64 /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%
$801,740
Cap Rate 7%
$572,671
Cap Rate 9%
$445,411
Alternative Uses
Best Use
Apartment 5plus
$572.7K
$501.1K – $668.1K
NOI $40,087 @ 7.0% cap · market cap 5.35%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$958.9K
$839.1K – $1.12M
NOI $67,126 @ 7.0% cap · market cap 8.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
45
Businesses Nearby
Explore this area
Business Placement
Demographics for 59932, MT
1,558
Population
1,033
Households
1.5
Avg Household Size
47
Median Age
37%
College-Educated
83%
High-School Grad
27.2 sq mi
ZIP Area
57
Density / Sq Mi
$57,325
Median Household Income
$49,146
Median Earnings
$1,122
Median Rent
$617,500
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?
Short term rental property - Two residences offer flexible layouts, separate outdoor areas, and access to Flathead Lake recreation.
Where is this short term rental property located?
The property is located at 121 & 135 Boon Road Somers, MT.
What is the asking price?
The asking price for this property is $749,900.
What are key features of this property?
This property features: Two residences on one lot, including a 4‑bedroom, 3‑bath main home; Detached guest house with remodeled interiors, loft bedroom, kitchen, full bathroom, and private fenced yard; Main residence includes a main‑level primary suite, office, laundry room, upper‑level suite, and bonus space
