Duplex with Two Rental
For Sale
$225,000
22 Jefferson Street, Billings, MT 59101
Two tenant-occupied homes on one lot, including a 2-bedroom unit with bonus room and a 1-bedroom unit with attached two-stall garage.
Property Size1,328 SF
Price / SF$169.43
Days on Market13
Property Features for 22 Jefferson Street
General Information
Standard status
Active
Size
1,328 SF
Property subtype
Multi Family Home
Additional Details
Multifamily Units
2
Building Details
Year Built
1939
Listing Agency:
LPT Realty
(406) 839-6428
Listed By:
Shonna Ruble · License #RRE-BRO-LIC-39364
Source:
Clearwaterproperties
Added: Jul 18
Changed: Jul 22
Last Checked: Jul 29 at 9:02AM
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 LPT Realty
Investment Insights
Based on property information with market context.
This duplex property includes two separate homes on one lot, currently tenant occupied. The front home offers two bedrooms plus an upstairs bonus room, with a minor remodel that includes newer flooring and mechanical updates such as a furnace and hot water heater approximately six years old. The second home features one bedroom and a bonus room, along with a newer hot water heater and an attached two-stall garage.
Located at 22 Jefferson Street, Billings, MT 59101. Information is deemed reliable but not guaranteed, and buyers should verify all details, including the exact condition and any dates of improvements, during due diligence.
Offered for sale as a dual-income, two-residence setup, this property provides two independent living spaces within the same lot configuration.
Located at 22 Jefferson Street, Billings, MT 59101. Information is deemed reliable but not guaranteed, and buyers should verify all details, including the exact condition and any dates of improvements, during due diligence.
Offered for sale as a dual-income, two-residence setup, this property provides two independent living spaces within the same lot configuration.
Key Highlights
- Two tenant‑occupied homes on one lot: front home (2BR + upstairs bonus room) and second home (1BR + bonus room)
- Front home includes a minor remodel with newer flooring, plus a furnace and hot water heater (about 6 years old)
- Second home features a newer hot water heater and an attached two‑stall garage
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 | $18.3k | $13.80 |
| − Vacancy | −$1.0k | −$0.76 |
| EGI | $17.3k | $13.04 |
| − OpEx | −$5.2k | −$3.91 |
| NOI | $12.1k | $9.13 |
1,328 SF · lease $13.80/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$173.2K
$151.5K – $202.1K
NOI $12,123 @ 7.0% cap · market cap 5.39%
Second Best
Apartment 5plus
$160.6K
$140.5K – $187.4K
NOI $11,241 @ 7.0% cap · market cap 5.00%
Theoretical Best
Office A
$289.8K
$253.5K – $338.1K
NOI $20,283 @ 7.0% cap · market cap 9.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
228
Businesses Nearby
Explore this area
Business Placement
Demographics for 59101, MT
41,522
Population
18,864
Households
2.2
Avg Household Size
37
Median Age
22%
College-Educated
91%
High-School Grad
590.8 sq mi
ZIP Area
70
Density / Sq Mi
$58,165
Median Household Income
$36,258
Median Earnings
$930
Median Rent
$243,000
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 tenant-occupied homes on one lot, including a 2-bedroom unit with bonus room and a 1-bedroom unit with attached two-stall garage.
Where is this duplex located?
The property is located at 22 Jefferson Street Billings, MT.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Two tenant‑occupied homes on one lot: front home (2BR + upstairs bonus room) and second home (1BR + bonus room); Front home includes a minor remodel with newer flooring, plus a furnace and hot water heater (about 6 years old); Second home features a newer hot water heater and an attached two‑stall garage
