Side-by-Side Duplex with Fenced
For Sale
$635,000
1824 Hollis St, Missoula, MT 59801
Two rented units combine varied layouts, basement space, laundry areas, covered parking, and outdoor storage.
Property Size2,912 SF
Price / SF$218.06
Days on Market38
Property Features for 1824 Hollis St
General Information
Standard status
Active
Size
2,912 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 1BR/1BA, 1 x 4BR/1BA
Multifamily Units
2
Amenities
covered parking
outdoor storage areas
fenced backyard with raised garden beds
Building Details
Year Built
1971
Listing Agency:
Ink Realty Group
(406) 240-9545
Listed By:
Maggie Springer · License #RRE-RBS-LIC-71615
Source:
Jasonbakerteam
Added: Jul 24
Changed: Aug 29
Last Checked: Aug 29 at 9:34PM
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 Ink Realty Group
Investment Insights
Based on property information with market context.
This 2,912-SF duplex includes two side-by-side residences with distinct layouts. The home at 1824 Hollis is a one-bedroom, one-bath bungalow with bonus rooms and basement laundry. The residence at 370 Kensington offers four bedrooms and one bath, along with additional basement space and a dedicated laundry room. Both units feature new living-room carpet and fresh interior paint, while the larger home includes woodwork and custom cabinetry. A new roof is planned before closing.
Outdoor features include covered off-street parking, multiple storage areas, a fenced backyard, and raised garden beds. The property was built in 1971 and is located in Missoula’s Rose Park neighborhood. Both residences are rented through 10/31/2026, providing an existing lease term for the duplex’s two-unit configuration.
Outdoor features include covered off-street parking, multiple storage areas, a fenced backyard, and raised garden beds. The property was built in 1971 and is located in Missoula’s Rose Park neighborhood. Both residences are rented through 10/31/2026, providing an existing lease term for the duplex’s two-unit configuration.
Key Highlights
- Two side‑by‑side units totaling 2,912 SF
- Unit at 1824 Hollis: 1 BD/1 BA bungalow with bonus rooms and basement laundry
- Unit at 370 Kensington: 4 BD/1 BA home with basement space and dedicated laundry
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
$31,086
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
4.90%
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%
$621,720
$621.7K
Cap Rate 7%
$444,086
$444.1K
Cap Rate 9%
$345,400
$345.4K
Market Conditions
NOI Build-Up for 2,912 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
$61.5K $21.12/SF
− Vacancy
−$5.0K −$1.71/SF
EGI
$56.5K $19.41/SF
− OpEx
−$25.4K −$8.73/SF
NOI
$31.1K $10.68/SF
Area
Missoula County, MT
Vacancy
8.10%
Lease Rate
$21.12 /SF/Yr
Expense Ratio
45.00%
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%
$621,720
Cap Rate 7%
$444,086
Cap Rate 9%
$345,400
Alternative Uses
Best Use
Apartment 5plus
$444.1K
$388.6K – $518.1K
NOI $31,086 @ 7.0% cap · market cap 4.90%
Second Best
Multifamily LT 5
$416.3K
$364.2K – $485.7K
NOI $29,139 @ 7.0% cap · market cap 4.59%
Theoretical Best
Specialty Retail
$839.6K
$734.6K – $979.5K
NOI $58,771 @ 7.0% cap · market cap 9.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,039
Businesses Nearby
Explore this area
Business Placement
Demographics for 59801, MT
30,629
Population
15,814
Households
1.9
Avg Household Size
34
Median Age
51%
College-Educated
97%
High-School Grad
7.7 sq mi
ZIP Area
3,978
Density / Sq Mi
$55,022
Median Household Income
$34,320
Median Earnings
$1,086
Median Rent
$393,400
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 rented units combine varied layouts, basement space, laundry areas, covered parking, and outdoor storage.
Where is this duplex located?
The property is located at 1824 Hollis St Missoula, MT.
What is the asking price?
The asking price for this property is $635,000.
What are key features of this property?
This property features: Two side‑by‑side units totaling 2,912 SF; Unit at 1824 Hollis: 1 BD/1 BA bungalow with bonus rooms and basement laundry; Unit at 370 Kensington: 4 BD/1 BA home with basement space and dedicated laundry
