Historic Two-Unit
For Sale
$600,000
238 & 242 S 5th Street E, Missoula, MT 59801
ResidentialIncome, Missoula, MT
Property Size4,098 SF
Lot Size0.18 Acres
Price / SF$146.41
Days on Market51
Property Features for 238 & 242 S 5th Street E
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
U-R4
Rooms
Basement
Parking features
On Street
Interior features
WalkInClosets
Appliances
Range, Refrigerator
Directions
Corner of S 5th St. E and Ronald Ave. Behind The Reed Condominiums.
Standard status
Active
APN
04220022314050000
Size
4,098 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Lot 21 - 22, BLOCK 12, MONTANA ADDITION, S22, T13 N, R19 W
Tax Annual Amount
6701
Legal Description
Lot 21 - 22, BLOCK 12, MONTANA ADDITION, S22, T13 N, R19 W
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Water source
Public
Building Details
Year built
1910
Floors in Building
2
Number of units
2
Roof type
Composition
Listing Agency:
Keller Williams Western MT · Keller Williams Realty
(406) 926-3434
Listed By:
Kris Hawkins · License #RRE-BRO-LIC-12537
(406) 396-6542
Added: Aug 31
Changed: Oct 17
Last Checked: Oct 20 at 7:06PM
MLS# 30077525
Copyright © 2026 Montana Regional MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
Built in 1910, this 4,098-square-foot duplex contains two 2-bedroom, 1-bathroom units. Wood flooring appears throughout, and each residence has walk-in closets, an oven, and a refrigerator. The main-floor apartment includes high ceilings, pocket doors between the living and dining rooms, and a mudroom near its side entrance. An unfinished basement is accessed through this unit. Upstairs, the living room is spacious, and the bathroom has a clawfoot tub and shower. The 0.179-acre corner parcel includes a shared yard, mature trees, and an underground sprinkler system.
The units have separate water, gas, and electric meters. The main-floor unit is leased through August 2027; the upstairs unit is occupied month-to-month. Water billing for the main-floor residence covers interior use, while the upstairs unit is billed for underground sprinklers and stormwater.
The units have separate water, gas, and electric meters. The main-floor unit is leased through August 2027; the upstairs unit is occupied month-to-month. Water billing for the main-floor residence covers interior use, while the upstairs unit is billed for underground sprinklers and stormwater.
Key Highlights
- Two apartments, each with 2 bedrooms and 1 bathroom
- 4,098‑square‑foot building on a 0.179‑acre corner lot
- Built in 1910
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$43,747
Cap Rate
7.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$874,940
$874.9K
Cap Rate 7%
$624,957
$625.0K
Cap Rate 9%
$486,078
$486.1K
Market Conditions
NOI Build-Up for 4,098 SF
Gross rent
$86.5K $21.12/SF
− Vacancy
−$7.0K −$1.71/SF
EGI
$79.5K $19.41/SF
− OpEx
−$35.8K −$8.73/SF
NOI
$43.7K $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 Rate 5%
$874,940
Cap Rate 7%
$624,957
Cap Rate 9%
$486,078
Alternative Uses
Best Use
Apartment 5plus
$625.0K
$546.8K – $729.1K
NOI $43,747 @ 7.0% cap · market cap 7.29%
Second Best
Multifamily LT 5
$585.8K
$512.6K – $683.5K
NOI $41,007 @ 7.0% cap · market cap 6.83%
Theoretical Best
Specialty Retail
$1.18M
$1.03M – $1.38M
NOI $82,708 @ 7.0% cap · market cap 13.78%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,221
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Separate utility meters, original wood floors, and a shared yard serve the two residences.
Where is this duplex located?
The property is located at 238 & 242 S 5th Street E Missoula, MT.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Two apartments, each with 2 bedrooms and 1 bathroom; 4,098‑square‑foot building on a 0.179‑acre corner lot; Built in 1910
