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    West End Duplex with Private Yards Title is generated by Realmo AI

    2324 Canyon Drive, Billings, MT 59102

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    For Sale
    $415,000

    MULTI_FAMILY - Ranch - Billings, MT

    Type:Single Family Residence
    Property size:
    2,454 SF
    Lot size:
    0.21 Acres
    Price / SF:
    $169/SF
    Added:
    Jun 6, 2026
    Days on Market:
    1
    Last Refresh:
    Jun 6 at 9:06 pm

    Property Features for 2324 Canyon Drive

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Single Family Residence
    Bedrooms
    6
    Rooms
    Bedroom 5, Bedroom 3, Bedroom 1, Bedroom 4, Bathroom 1, Bathroom 2, Bedroom 2, Bedroom 6
    Parking
    2
    Parking features
    Open
    Patio and Porch features
    Patio, Deck
    Exterior features
    Fence
    Fencing
    Fenced
    Standard status
    Active
    APN
    C01728
    Size
    2,454 SF
    Lot size
    0.21 Acres

    Taxes and HOA fees

    Tax Description
    VALLEY VIEW ACRES SUBD, S07, T01 S, R26 E, BLOCK 4, Lot 5, AMD BLK 2 (57)
    Tax Annual Amount
    2261

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Natural Gas, Forced Air
    Cooling system
    Wall Unit(s)
    Water source
    Public

    Building Details

    Year built
    1984
    Floors in Building
    1
    Number of units
    2
    Building materials
    ModularPrefab
    Roof type
    Asphalt
    Architectural style
    Ranch

    We can help!

    Listing Contact
    Kellie Saville
    Kellie Saville

    Listing agent Kellie Saville License #RRE-BRO-LIC-53832

    Listing office Meridian Real Estate LLC 2116 Broadwater Ave., Ste. 205, Billings, MT

    Listing date Jun 6, 2026

    MLS# 359726 Listing URL

    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.

    HighLights

    • Ranch‑style duplex built in 1984 with two 3‑bedroom, 1‑bath units
    • Each unit includes an attached single‑car garage
    • Private washer and dryer in each unit
    • Large fenced yard with patio and deck, plus additional off‑street parking
    • Month‑to‑month rentals—currently rented on month‑to‑month leases
    • Utilities/services: natural gas forced‑air heat, wall A/C, public water and public sewer

    Overview

    This duplex offers two spacious, independently living 3-bedroom, 1-bath units. Each unit includes an attached single-car garage and private washer and dryer. The upper unit features bright interior windows and a private deck. The daylight lower unit provides direct access to the patio and backyard and offers yard views. Both units are positioned back from the street, supporting added privacy and off-street parking. A large fenced yard supports outdoor use for both residents.

    The property is located on Canyon Drive in Billings, within Yellowstone County. The listing notes a convenient West End location and an established residential setting.

    For investors or owner-occupants, the layout supports flexible occupancy with both units currently rented on month-to-month leases. The two separate outdoor spaces, attached garages, and in-unit laundry are practical features for tenant comfort and day-to-day convenience, while the set-back configuration can help reduce street-facing exposure and improve privacy for each unit.

    Local Financial Insights For Multifamily LT 5

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $33.9k $13.80
    − Vacancy −$1.9k −$0.76
    EGI $32.0k $13.04
    − OpEx −$9.6k −$3.91
    NOI $22.4k $9.13
    2,454 SF · lease $13.80/SF/yr · vacancy 5.50% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $320.0K
    $280.0K – $373.4K (±1% cap)
    NOI $22,402 @ 7.0% cap · market cap 5.40%
    Second Best
    Apartment 5plus
    $296.7K
    $259.7K – $346.2K (±1% cap)
    NOI $20,772 @ 7.0% cap · market cap 5.01%
    Theoretical Best
    Office A
    $535.4K
    $468.5K – $624.7K (±1% cap)
    NOI $37,481 @ 7.0% cap · market cap 9.03%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Mary's StoryBook Photography Media Distribution

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Billings
    County
    Yellowstone
    State
    Montana
    Longitude
    -108.5747
    Latitude
    45.760435

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    FAQs

    What type of property is this?
    Duplex - Two separately set-back 3-bedroom units each include garage, in-unit laundry, and private outdoor space.
    Where is this duplex located?
    The property is located at 2324 Canyon Drive Billings, MT.
    What is the asking price?
    The asking price for this property is $415,000.
    What are key features of this property?
    This property features: Ranch‑style duplex built in 1984 with two 3‑bedroom, 1‑bath units; Each unit includes an attached single‑car garage; Private washer and dryer in each unit
    (406) 671-6955
    We can help!
    Listing Contact
    Kellie Saville
    Kellie Saville
    Real Estate License ID: RRE-BRO-LIC-53832
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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