Remodeled Duplex
For Sale
$550,000
1322 Babcock, Billings, MT 59105
A split-level duplex with remodeled interiors, private fenced backyards, and leases in place through July.
Property Size3,276 SF
Price / SF$167.89
Days on Market45
Property Features for 1322 Babcock
General Information
Standard status
Active
Size
3,276 SF
Property subtype
Duplex
Additional Details
Fenced Yard
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,313
Amenities
Style: Split-Foyer
0.00
Split-Foyer
Building Details
Year Built
1979
Listing Agency:
Western Skies Real Estate
Listed By:
SaraBeth Owens
Source:
Clearwaterproperties
Added: Jul 20
Changed: Aug 31
Last Checked: Sep 1 at 6:22PM
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 Western Skies Real Estate
Investment Insights
Based on property information with market context.
This remodeled duplex features two split-level units with updated fixtures, appliances, and LVP flooring. Each unit includes an upper-level open living and dining area with a wood fireplace, a kitchen with stainless appliances and granite counters, two bedrooms, and a full bath. The lower level adds a family room with a wood fireplace, a large walk-in laundry room, an additional bedroom and a 3/4 bath, along with an access door to the attached one-car garage.
Both units have private fenced backyards. The property is located in the Eagles Nest subdivision in the Heights within a cul-de-sac. The units are currently under leases through July.
From a configuration standpoint, the duplex provides distinct in-unit living spaces across two levels, with dedicated outdoor areas and attached garage access for each unit.
Both units have private fenced backyards. The property is located in the Eagles Nest subdivision in the Heights within a cul-de-sac. The units are currently under leases through July.
From a configuration standpoint, the duplex provides distinct in-unit living spaces across two levels, with dedicated outdoor areas and attached garage access for each unit.
Key Highlights
- Split‑foyer duplex built in 1979 with two split‑level units
- Both units remodeled a few years back with fixtures, appliances, and LVP flooring
- Upper level features open living/dining room with wood fireplace, kitchen with stainless appliances and granite counters, 2 bedrooms and full bath
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
$29,906
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
5.44%
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%
$598,120
$598.1K
Cap Rate 7%
$427,229
$427.2K
Cap Rate 9%
$332,289
$332.3K
Market Conditions
NOI Build-Up for 3,276 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
$45.2K $13.80/SF
− Vacancy
−$2.5K −$0.76/SF
EGI
$42.7K $13.04/SF
− OpEx
−$12.8K −$3.91/SF
NOI
$29.9K $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%
$598,120
Cap Rate 7%
$427,229
Cap Rate 9%
$332,289
Alternative Uses
Best Use
Multifamily LT 5
$427.2K
$373.8K – $498.4K
NOI $29,906 @ 7.0% cap · market cap 5.44%
Second Best
Apartment 5plus
$396.1K
$346.6K – $462.2K
NOI $27,730 @ 7.0% cap · market cap 5.04%
Theoretical Best
Office A
$714.8K
$625.5K – $833.9K
NOI $50,036 @ 7.0% cap · market cap 9.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
166
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
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Frequently Asked Questions
What type of property is this?
Duplex - A split-level duplex with remodeled interiors, private fenced backyards, and leases in place through July.
Where is this duplex located?
The property is located at 1322 Babcock Billings, MT.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Split‑foyer duplex built in 1979 with two split‑level units; Both units remodeled a few years back with fixtures, appliances, and LVP flooring; Upper level features open living/dining room with wood fireplace, kitchen with stainless appliances and granite counters, 2 bedrooms and full bath
