South Hills Duplex with
For Sale
$660,000
123 Grandview, Missoula, MT 59803
Two independent units each feature a private garage, fireplaces, and in-unit laundry, with one 2-bedroom and one 3-bedroom layout.
Property Size2,584 SF
Price / SF$255.42
Days on Market34
Property Features for 123 Grandview
General Information
Standard status
Active
Size
2,584 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$4,713
Amenities
Garage Spaces: 2
Style: Other
Other
2
Building Details
Year Built
1994
Listing Agency:
Engel & Völkers Western Frontier - Missoula
(406) 550-4131
Listed By:
Dawn Maddux · License #RRE-BRO-LIC-31860
Source:
Clearwaterproperties
Added: Jul 21
Changed: Aug 23
Last Checked: Aug 23 at 8:10AM
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 Engel & Völkers Western Frontier - Missoula
Investment Insights
Based on property information with market context.
This duplex offers two independently lived-in units, each with its own garage and a multi-level layout. One side is configured as a 2-bedroom, 2-bath home, while the other provides a 3-bedroom, 2-bath arrangement. Both units include fireplaces and in-unit laundry, and the entry doors have been freshly painted.
The property sits in the South Hills area of Missoula and is described as set among mature trees with fenced backyards on each side, supported by underground sprinklers. Recent exterior improvements include new aluminum siding.
With a functional, separated duplex layout and exterior updates already in place, the interior is presented as having an opportunity for cosmetic improvements.
The property sits in the South Hills area of Missoula and is described as set among mature trees with fenced backyards on each side, supported by underground sprinklers. Recent exterior improvements include new aluminum siding.
With a functional, separated duplex layout and exterior updates already in place, the interior is presented as having an opportunity for cosmetic improvements.
Key Highlights
- 1994‑built South Hills duplex with two independent units, each with its own private garage.
- Unit mix: one 2‑bed/2‑bath layout and one 3‑bed/2‑bath layout for rental flexibility.
- Both units include fireplaces and in‑unit laundry.
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
$27,584
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
4.18%
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%
$551,680
$551.7K
Cap Rate 7%
$394,057
$394.1K
Cap Rate 9%
$306,489
$306.5K
Market Conditions
NOI Build-Up for 2,584 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
$54.6K $21.12/SF
− Vacancy
−$4.4K −$1.71/SF
EGI
$50.2K $19.41/SF
− OpEx
−$22.6K −$8.73/SF
NOI
$27.6K $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%
$551,680
Cap Rate 7%
$394,057
Cap Rate 9%
$306,489
Alternative Uses
Best Use
Apartment 5plus
$394.1K
$344.8K – $459.7K
NOI $27,584 @ 7.0% cap · market cap 4.18%
Second Best
Multifamily LT 5
$369.4K
$323.2K – $431.0K
NOI $25,857 @ 7.0% cap · market cap 3.92%
Theoretical Best
Specialty Retail
$745.0K
$651.9K – $869.2K
NOI $52,152 @ 7.0% cap · market cap 7.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
55
Businesses Nearby
Explore this area
Business Placement
Demographics for 59803, MT
17,203
Population
6,813
Households
2.5
Avg Household Size
40
Median Age
53%
College-Educated
97%
High-School Grad
97.0 sq mi
ZIP Area
177
Density / Sq Mi
$108,992
Median Household Income
$49,831
Median Earnings
$1,194
Median Rent
$492,900
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?
Duplex - Two independent units each feature a private garage, fireplaces, and in-unit laundry, with one 2-bedroom and one 3-bedroom layout.
Where is this duplex located?
The property is located at 123 Grandview Missoula, MT.
What is the asking price?
The asking price for this property is $660,000.
What are key features of this property?
This property features: 1994‑built South Hills duplex with two independent units, each with its own private garage.; Unit mix: one 2‑bed/2‑bath layout and one 3‑bed/2‑bath layout for rental flexibility.; Both units include fireplaces and in‑unit laundry.
