Newer Duplex with Attached
New
For Sale
$750,000
2213 9th, Missoula, MT 59801
Two residential units offer attached garages, private outdoor areas, and flexible three- or four-bedroom layouts.
Property Size2,629 SF
Price / SF$285.28
Days on Market6
Property Features for 2213 9th
General Information
Standard status
Active
Size
2,629 SF
Property subtype
Duplex
Additional Details
Road Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,268
Amenities
Garage Spaces: 2
Style: Other
Other
2
Building Details
Year Built
2018
Buildings
1
Listing Agency:
ERA Lambros Real Estate Missoula
(406) 880-8679
Listed By:
Tory Dailey · License #RRE-BRO-LIC-10074
Source:
Clearwaterproperties
Added: Aug 25
Changed: Aug 30
Last Checked: Aug 30 at 4:11AM
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 ERA Lambros Real Estate Missoula
Investment Insights
Based on property information with market context.
Built in 2018, this 2,629 SF duplex contains two residential units with separate, home-style layouts. Each unit includes an open main level, an attached single-car garage, 2.5 bathrooms, a covered front porch, and a private patio. Unit configurations include three or four bedrooms, with each primary suite offering a private ensuite bath and walk-in closet. One unit adds flexible space, while the other provides four dedicated bedrooms.
The property sits on a dead-end street near Franklin Park and within walking distance of Franklin School. Downtown Missoula, shopping, parks, trail systems, and the Reserve Street corridor are readily accessible. Exterior improvements include landscaping, underground sprinklers, additional off-street parking, and differing outdoor setups, including a fenced backyard at one unit. Both units have been freshly painted and are currently vacant.
The property sits on a dead-end street near Franklin Park and within walking distance of Franklin School. Downtown Missoula, shopping, parks, trail systems, and the Reserve Street corridor are readily accessible. Exterior improvements include landscaping, underground sprinklers, additional off-street parking, and differing outdoor setups, including a fenced backyard at one unit. Both units have been freshly painted and are currently vacant.
Key Highlights
- 2,629 SF duplex built in 2018
- Two units with three- or four‑bedroom layouts and 2.5 baths each
- Attached single‑car garage for each unit
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
$28,065
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
3.74%
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%
$561,300
$561.3K
Cap Rate 7%
$400,929
$400.9K
Cap Rate 9%
$311,833
$311.8K
Market Conditions
NOI Build-Up for 2,629 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
$55.5K $21.12/SF
− Vacancy
−$4.5K −$1.71/SF
EGI
$51.0K $19.41/SF
− OpEx
−$23.0K −$8.73/SF
NOI
$28.1K $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%
$561,300
Cap Rate 7%
$400,929
Cap Rate 9%
$311,833
Alternative Uses
Best Use
Apartment 5plus
$400.9K
$350.8K – $467.8K
NOI $28,065 @ 7.0% cap · market cap 3.74%
Second Best
Multifamily LT 5
$375.8K
$328.8K – $438.5K
NOI $26,307 @ 7.0% cap · market cap 3.51%
Theoretical Best
Specialty Retail
$758.0K
$663.3K – $884.3K
NOI $53,060 @ 7.0% cap · market cap 7.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
557
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 residential units offer attached garages, private outdoor areas, and flexible three- or four-bedroom layouts.
Where is this duplex located?
The property is located at 2213 9th Missoula, MT.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 2,629 SF duplex built in 2018; Two units with three- or four‑bedroom layouts and 2.5 baths each; Attached single‑car garage for each unit
