Renovated Duplex with Gas
New
For Sale
$498,000
243-245 1st Ave S, Hungry Horse, MT 59919
Two updated residential units offer separate kitchens, laundry hookups, off-street parking, and flexible rental use.
Property Size1,560 SF
Price / SF$319.23
Days on Market4
Property Features for 243-245 1st Ave S
General Information
Standard status
Active
Size
1,560 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
gas fireplace
spacious yard
Building Details
Year Built
1976
Buildings
1
Listing Agency:
Engel & Völkers Western Frontier - Whitefish
Listed By:
Patti Lynn Singer · License #RRE-BRO-LIC-98913
(800) 551-3184
Source:
Flatheadvalleybrokers
Added: Sep 5
Changed: Sep 6
Last Checked: Sep 7 at 12:34PM
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 Engel & Völkers Western Frontier - Whitefish
Investment Insights
Based on property information with market context.
This 1,560-square-foot duplex, built in 1976, contains two units of approximately 780 square feet each. Both layouts include two bedrooms, one bathroom, an eat-in kitchen, and a gas fireplace in the living room. Recent work includes a new roof, fascia, soffit, drip edge, flooring, bathroom updates, trim, and interior and exterior paint. The right unit is complete and includes a refrigerator, range, range hood, microwave, dishwasher, and hookups for a stackable washer and dryer. The left unit has a refrigerator, electric range, range hood, and laundry hookups and is in the final stage of renovation.
The property at 243-245 1st Ave S in Hungry Horse includes a spacious yard and off-street parking directly in front of the units. It is located 12 miles from Glacier National Park and provides access to town, shopping, dining, and local amenities.
The property at 243-245 1st Ave S in Hungry Horse includes a spacious yard and off-street parking directly in front of the units. It is located 12 miles from Glacier National Park and provides access to town, shopping, dining, and local amenities.
Key Highlights
- 1,560‑square‑foot duplex with two approximately 780‑square‑foot units
- Each unit has 2 bedrooms, 1 bathroom, an eat‑in kitchen, and a gas fireplace
- Built in 1976; improvements include a new roof, flooring, bathroom updates, and interior and exterior paint
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
$15,643
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
3.14%
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%
$312,860
$312.9K
Cap Rate 7%
$223,471
$223.5K
Cap Rate 9%
$173,811
$173.8K
Market Conditions
NOI Build-Up for 1,560 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
$23.4K $15.00/SF
− Vacancy
−$1.1K −$0.68/SF
EGI
$22.3K $14.33/SF
− OpEx
−$6.7K −$4.30/SF
NOI
$15.6K $10.03/SF
Area
Flathead County, MT
Vacancy
4.50%
Lease Rate
$15.00 /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%
$312,860
Cap Rate 7%
$223,471
Cap Rate 9%
$173,811
Alternative Uses
Best Use
Multifamily LT 5
$223.5K
$195.5K – $260.7K
NOI $15,643 @ 7.0% cap · market cap 3.14%
Second Best
Apartment 5plus
$208.0K
$182.0K – $242.7K
NOI $14,560 @ 7.0% cap · market cap 2.92%
Theoretical Best
Office A
$348.3K
$304.8K – $406.4K
NOI $24,381 @ 7.0% cap · market cap 4.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
82
Businesses Nearby
Explore this area
Business Placement
Demographics for 59919, MT
828
Population
524
Households
1.6
Avg Household Size
46
Median Age
26%
College-Educated
90%
High-School Grad
2.3 sq mi
ZIP Area
360
Density / Sq Mi
$47,188
Median Earnings
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 updated residential units offer separate kitchens, laundry hookups, off-street parking, and flexible rental use.
Where is this duplex located?
The property is located at 243-245 1st Ave S Hungry Horse, MT.
What is the asking price?
The asking price for this property is $498,000.
What are key features of this property?
This property features: 1,560‑square‑foot duplex with two approximately 780‑square‑foot units; Each unit has 2 bedrooms, 1 bathroom, an eat‑in kitchen, and a gas fireplace; Built in 1976; improvements include a new roof, flooring, bathroom updates, and interior and exterior paint
