Residential Income Duplex
For Sale
$520,000
Pending
1231 Eaton, Missoula, MT 59801
Duplex-style home with separate upper and lower living spaces, two baths, and dedicated covered parking for each unit.
Property Size2,112 SF
Days on Market20
Property Features for 1231 Eaton
General Information
Standard status
Pending
Size
2,112 SF
Property subtype
Duplex
Additional Details
Fenced Yard
Yes
Taxes and HOA fees
Annual Taxes
$4,427
Amenities
Garage: Additional Parking
Garage Spaces: 1
Additional Parking
1
Building Details
Year Built
1974
Listing Agency:
Big Sky Brokers, LLC
(406) 241-6626
Listed By:
Rose Chadwell · License #RRE-RBS-LIC-118630
Source:
Clearwaterproperties
Added: Jul 24
Changed: Aug 8
Last Checked: Aug 12 at 4:38AM
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 Big Sky Brokers, LLC
Investment Insights
Based on property information with market context.
This residential income duplex-style home offers two separate living spaces with a total of five bedrooms and two baths. The main floor features a refreshed 3-bedroom, 1-bath layout with a bright living room highlighted by a large picture window. An eat-in kitchen includes a dining area overlooking a covered back patio and a private, mature fenced backyard.
The finished lower level includes 2 bedrooms and 1 bath, with a separate rear entrance and dedicated covered parking. It currently serves as a non-conforming apartment and includes a full kitchen, welcoming living and dining space, egress windows, and access to a shared laundry, utility, and storage room.
The property also includes a yard with established gardens and fruit trees, providing outdoor space for entertaining.
The finished lower level includes 2 bedrooms and 1 bath, with a separate rear entrance and dedicated covered parking. It currently serves as a non-conforming apartment and includes a full kitchen, welcoming living and dining space, egress windows, and access to a shared laundry, utility, and storage room.
The property also includes a yard with established gardens and fruit trees, providing outdoor space for entertaining.
Key Highlights
- Duplex‑style 5‑bedroom, 2‑bath home with two separate upper and lower living spaces totaling 2,112 sq. ft.
- Main level offers 3 bedrooms, 1 bath, a bright living room with a large picture window, and an eat‑in kitchen with dining area.
- Kitchen/dining area overlooks a covered back patio and a private, mature fenced backyard with established gardens and fruit trees.
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
$22,546
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
4.34%
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%
$450,920
$450.9K
Cap Rate 7%
$322,086
$322.1K
Cap Rate 9%
$250,511
$250.5K
Market Conditions
NOI Build-Up for 2,112 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
$44.6K $21.12/SF
− Vacancy
−$3.6K −$1.71/SF
EGI
$41.0K $19.41/SF
− OpEx
−$18.4K −$8.73/SF
NOI
$22.5K $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%
$450,920
Cap Rate 7%
$322,086
Cap Rate 9%
$250,511
Alternative Uses
Best Use
Apartment 5plus
$322.1K
$281.8K – $375.8K
NOI $22,546 @ 7.0% cap · market cap 4.34%
Second Best
Multifamily LT 5
$301.9K
$264.2K – $352.2K
NOI $21,134 @ 7.0% cap · market cap 4.06%
Theoretical Best
Specialty Retail
$608.9K
$532.8K – $710.4K
NOI $42,625 @ 7.0% cap · market cap 8.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
587
Businesses Nearby
Explore this area
Business Placement
Demographics for 59801, MT
30,629
Population
15,814
Households
1.9
Avg Household Size
34
Median Age
51%
College-Educated
97%
High-School Grad
7.7 sq mi
ZIP Area
3,978
Density / Sq Mi
$55,022
Median Household Income
$34,320
Median Earnings
$1,086
Median Rent
$393,400
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 - Duplex-style home with separate upper and lower living spaces, two baths, and dedicated covered parking for each unit.
Where is this duplex located?
The property is located at 1231 Eaton Missoula, MT.
What is the asking price?
The asking price for this property is $520,000.
What are key features of this property?
This property features: Duplex‑style 5‑bedroom, 2‑bath home with two separate upper and lower living spaces totaling 2,112 sq. ft.; Main level offers 3 bedrooms, 1 bath, a bright living room with a large picture window, and an eat‑in kitchen with dining area.; Kitchen/dining area overlooks a covered back patio and a private, mature fenced backyard with established gardens and fruit trees.
