Two-Home Multifamily
For Sale
$227,500
1512 6th Avenue N, Great Falls, MT 59401
Two separate residences share one lot with a detached garage, fenced yard areas, and storage improvements.
Property Size2,230 SF
Days on Market25
Property Features for 1512 6th Avenue N
General Information
Standard status
Active
Size
2,230 SF
Total Parking Spaces
1
Property subtype
Residential Income
Zoning
1
Units
Unit Mix
1 x 3BR/1.5BA, 1 x 2BR/1BA
Multifamily Units
2
Amenities
yard
garden area
Building Details
Building Size
2,230 SF
Year Built
1910
Buildings
2
Units
2
Listing Agency:
Dahlquist Realtors
Listed By:
Paula Brandon Fry · License #RRE-BRO-LIC-25121
(406) 788-3430
Source:
Purewestrealestate
Added: Sep 21
Changed: Oct 15
Last Checked: Oct 14 at 7:41PM
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 Dahlquist Realtors
Investment Insights
Based on property information with market context.
This multifamily property at 1512 6th Avenue N includes two separate homes on one lot. The front residence was built in 1910 and has three bedrooms and 1.5 bathrooms, with one main-level bedroom and two non-conforming basement bedrooms without egress windows. The basement also includes laundry, a half bathroom, and a mechanical room. Built in 1953, the rear home offers two bedrooms, one bathroom, a laundry area, a living room, and a kitchen.
An oversized one-car garage adds a workbench, storage, and workspace. The rear home and garage have updated metal roofs, while the rear residence includes new exterior paint, new living-room and main-level bedroom carpet, and new kitchen vinyl flooring. The front home's deck also has new exterior paint. Fenced yard areas provide separation between the backyards, each with a garden area, and the property has street parking plus off-alley parking.
An oversized one-car garage adds a workbench, storage, and workspace. The rear home and garage have updated metal roofs, while the rear residence includes new exterior paint, new living-room and main-level bedroom carpet, and new kitchen vinyl flooring. The front home's deck also has new exterior paint. Fenced yard areas provide separation between the backyards, each with a garden area, and the property has street parking plus off-alley parking.
Key Highlights
- Two separate homes located on one lot at 1512 6th Avenue N
- Front home built in 1910 with 3 bedrooms and 1.5 bathrooms
- Rear home built in 1953 with 2 bedrooms and 1 bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,053
Cap Rate
7.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$341,060
$341.1K
Cap Rate 7%
$243,614
$243.6K
Cap Rate 9%
$189,478
$189.5K
Market Conditions
NOI Build-Up for 2,230 SF
Gross rent
$32.9K $14.76/SF
− Vacancy
−$1.9K −$0.86/SF
EGI
$31.0K $13.90/SF
− OpEx
−$14.0K −$6.26/SF
NOI
$17.1K $7.65/SF
Area
Cascade County, MT
Vacancy
5.80%
Lease Rate
$14.76 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$341,060
Cap Rate 7%
$243,614
Cap Rate 9%
$189,478
Alternative Uses
Best Use
Apartment 5plus
$243.6K
$213.2K – $284.2K
NOI $17,053 @ 7.0% cap · market cap 7.50%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$434.0K
$379.7K – $506.3K
NOI $30,379 @ 7.0% cap · market cap 13.35%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
717
Businesses Nearby
Explore this area
Business Placement
Demographics for 59401, MT
13,030
Population
6,921
Households
1.9
Avg Household Size
39
Median Age
27%
College-Educated
93%
High-School Grad
3.0 sq mi
ZIP Area
4,343
Density / Sq Mi
$53,750
Median Household Income
$33,209
Median Earnings
$767
Median Rent
$206,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Multifamily property - Two separate residences share one lot with a detached garage, fenced yard areas, and storage improvements.
Where is this multifamily property located?
The property is located at 1512 6th Avenue N Great Falls, MT.
What is the asking price?
The asking price for this property is $227,500.
What are key features of this property?
This property features: Two separate homes located on one lot at 1512 6th Avenue N; Front home built in 1910 with 3 bedrooms and 1.5 bathrooms; Rear home built in 1953 with 2 bedrooms and 1 bathroom
