Duplex with Second
For Sale
Under Contract
$450,000
1727 Augsburg Drive, Billings, MT 59105
Residential, Billings, MT
Property Size2,828 SF
Lot Size0.32 Acres
Price / SF$159.12
Days on Market79
Property Features for 1727 Augsburg Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
N2 - Mid-Century Neighborhood Residential
Bedrooms
5
Full bathrooms
3
Rooms
Bedroom 1, Bathroom 3, Bedroom 5, Bedroom 4, Bedroom 3, Bathroom 2, Bedroom 2, Bathroom 1
Parking features
Open
Patio and Porch features
Deck, Patio
Interior features
SecondKitchen
Exterior features
Fence, Storage
Fencing
Fenced
Subdivision
VISTA HEIGHTS
Lot features
Cul De Sac, Interior Lot, Landscaped
Elementary school
Bench
Middle school
Medicine Crow
High school
Skyview
Standard status
Active Under Contract
APN
C01560
Size
2,828 SF
Lot size
0.32 Acres
Taxes and HOA fees
Tax Description
VISTA HEIGHTS SUBD, S15, T01 N, R26 E, BLOCK 1, Lot 23
Tax Annual Amount
793
Legal Description
VISTA HEIGHTS SUBD, S15, T01 N, R26 E, BLOCK 1, Lot 23
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Electric (Heating), Natural Gas, Baseboard
Cooling system
Central Air
Water source
Public
Amenities
patio
grape arbor
fruit trees
fenced yard
Building Details
Year built
1984
Floors in Building
2
Number of units
2
Building materials
WoodSiding
Roof type
Shingle, Asphalt
Architectural style
Other
Additional Structures
Storage
Listing Agency:
PureWest Real Estate - Billings
(406) 601-4210
Listed By:
Mary Dobrowsky · License #rre-rbs-lic-88470
(406) 606-0233
Added: Jul 19
Changed: Sep 19
Last Checked: Oct 5 at 10:06AM
MLS# 360747
Copyright © 2026 Billings Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This duplex-style property provides 2,828 square feet across two distinct living areas. The upper residence includes a living room with bay window, kitchen, pantry, dining space, primary suite, second bedroom, two bathrooms, laundry, and patio access. A separately accessed lower level adds a second kitchen, living and dining areas, three bedrooms, a bathroom, laundry, and substantial storage.
Built in 1984 on 0.3167 acres, the property includes an oversized two-car garage, additional parking, and a fenced outdoor area with terraced landscaping, a patio, grape arbor, and fruit trees. Interior and building features include wood siding, central air, natural gas and electric heating systems, public water, public sewer, and an asphalt shingle roof. Appliances, a radon system, and a home warranty are included.
Built in 1984 on 0.3167 acres, the property includes an oversized two-car garage, additional parking, and a fenced outdoor area with terraced landscaping, a patio, grape arbor, and fruit trees. Interior and building features include wood siding, central air, natural gas and electric heating systems, public water, public sewer, and an asphalt shingle roof. Appliances, a radon system, and a home warranty are included.
Key Highlights
- 2,828 SF duplex‑style property with two separate living areas
- Upper level includes 2 bedrooms, primary suite, 2 bathrooms, kitchen, dining area, and laundry
- Lower level offers a second kitchen, 3 bedrooms, bathroom, laundry, storage, and private access
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
$25,816
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
5.74%
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%
$516,320
$516.3K
Cap Rate 7%
$368,800
$368.8K
Cap Rate 9%
$286,844
$286.8K
Market Conditions
NOI Build-Up for 2,828 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
$39.0K $13.80/SF
− Vacancy
−$2.1K −$0.76/SF
EGI
$36.9K $13.04/SF
− OpEx
−$11.1K −$3.91/SF
NOI
$25.8K $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%
$516,320
Cap Rate 7%
$368,800
Cap Rate 9%
$286,844
Alternative Uses
Best Use
Multifamily LT 5
$368.8K
$322.7K – $430.3K
NOI $25,816 @ 7.0% cap · market cap 5.74%
Second Best
Apartment 5plus
$342.0K
$299.2K – $399.0K
NOI $23,938 @ 7.0% cap · market cap 5.32%
Theoretical Best
Office A
$617.1K
$539.9K – $719.9K
NOI $43,194 @ 7.0% cap · market cap 9.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
478
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
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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?
Duplex - Separate living areas support multigenerational use or a two-household rental arrangement.
Where is this duplex located?
The property is located at 1727 Augsburg Drive Billings, MT.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 2,828 SF duplex‑style property with two separate living areas; Upper level includes 2 bedrooms, primary suite, 2 bathrooms, kitchen, dining area, and laundry; Lower level offers a second kitchen, 3 bedrooms, bathroom, laundry, storage, and private access
