Well-Maintained Duplex with Rental
For Sale
$400,000
Pending
130-132 Stillwater Ln, Billings, MT 59105
Ranch-style duplex on a large lot with recent improvements.
Property Size2,368 SF
Days on Market93
Property Features for 130-132 Stillwater Ln
General Information
Standard status
Pending
Size
2,368 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$2,455
Amenities
Style: Ranch
0.00
Ranch
Building Details
Year Built
1977
Listing Agency:
Real Estate Hub LLLP
(406) 671-6690
Listed By:
Heather Kavran · License #RRE-BRO-LIC-32411
Source:
Clearwaterproperties
Added: May 26
Changed: Aug 24
Last Checked: Aug 26 at 8:49AM
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 Real Estate Hub LLLP
Investment Insights
Based on property information with market context.
This well-maintained ranch-style side-by-side duplex features a proven rental history. Situated on a large lot in a quiet Billings location, the property includes open space behind it, adding privacy and a peaceful setting. Recent improvements include a newer roof, paint, and flooring. The property also features an attached garage, extra driveway parking, street parking, spacious patios, and a generous backyard space. With a property size of 2368 square feet, this duplex is suitable for investors or owner-occupants seeking income potential. It presents an opportunity to expand an investment portfolio or offset living expenses with rental income.
Key Highlights
- Proven rental history makes this an ideal investment property or for owner‑occupants seeking income.
- Recent improvements include a newer roof, paint, and flooring.
- Large lot in a quiet location with open space behind for added privacy.
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
$21,617
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
5.40%
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%
$432,340
$432.3K
Cap Rate 7%
$308,814
$308.8K
Cap Rate 9%
$240,189
$240.2K
Market Conditions
NOI Build-Up for 2,368 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
$32.7K $13.80/SF
− Vacancy
−$1.8K −$0.76/SF
EGI
$30.9K $13.04/SF
− OpEx
−$9.3K −$3.91/SF
NOI
$21.6K $9.13/SF
Area
Billings, 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%
$432,340
Cap Rate 7%
$308,814
Cap Rate 9%
$240,189
Alternative Uses
Best Use
Multifamily LT 5
$308.8K
$270.2K – $360.3K
NOI $21,617 @ 7.0% cap · market cap 5.40%
Second Best
Apartment 5plus
$286.3K
$250.6K – $334.1K
NOI $20,044 @ 7.0% cap · market cap 5.01%
Theoretical Best
Office A
$516.7K
$452.1K – $602.8K
NOI $36,168 @ 7.0% cap · market cap 9.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
179
Businesses Nearby
Explore this area
Business Placement
Demographics for 59105, MT
33,310
Population
14,198
Households
2.3
Avg Household Size
37
Median Age
30%
College-Educated
96%
High-School Grad
95.9 sq mi
ZIP Area
347
Density / Sq Mi
$74,572
Median Household Income
$44,359
Median Earnings
$1,261
Median Rent
$314,900
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Ranch-style duplex on a large lot with recent improvements.
Where is this duplex located?
The property is located at 130-132 Stillwater Ln Billings, MT.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Proven rental history makes this an ideal investment property or for owner‑occupants seeking income.; Recent improvements include a newer roof, paint, and flooring.; Large lot in a quiet location with open space behind for added privacy.
