Two-Home Duplex
New
For Sale
$500,000
331 & 333 N Quarry Street, Columbus, MT 59019
MULTI_FAMILY - Columbus, MT
Property Size2,464 SF
Lot Size0.17 Acres
Price / SF$202.92
Days on Market4
Property Features for 331 & 333 N Quarry Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
7
Full bathrooms
4
Rooms
Bathroom 3, Bedroom 5, Bedroom 2, Bedroom 6, Bedroom 4, Bathroom 1, Bathroom 4, Bathroom 2, Bedroom 7, Bedroom 1, Bedroom 3
Parking
5
Parking features
Open
Patio and Porch features
Deck, Patio
Exterior features
Fence, Storage
Fencing
Fenced
Subdivision
Mountain View Add
Lot features
Corner Lot, Landscaped
Elementary school
Columbus
Middle school
Columbus
High school
Columbus
Standard status
Active
APN
30030
Size
2,464 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Description
MOUNTAIN VIEW ADD (COLUMBUS), S21, T02 S, R20 E, BLOCK 1, Lot 21 - 23, & LOT 20 AMENDED PL 336034
Tax Annual Amount
3000
Legal Description
MOUNTAIN VIEW ADD (COLUMBUS), S21, T02 S, R20 E, BLOCK 1, Lot 21 - 23, & LOT 20 AMENDED PL 336034
Utilities
Sewer type
Public Sewer
Heating system
Radiant, Electric (Heating), Natural Gas
Cooling system
Wall Unit(s)
Water source
Public
Amenities
main-floor laundry
fenced backyard
patio
Building Details
Year built
1978
Floors in Building
1
Number of units
2
Roof type
Metal
Additional Structures
Storage
Listing Agency:
Parks Real Estate
(406) 322-4115
Listed By:
Jill Exner · License #RRE-BRO-LIC-32240
(406) 321-0832
Added: Aug 14
Last Checked: Aug 17 at 3:06PM
MLS# 361293
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.
Investment Insights
Based on property information with market context.
This duplex property at 331 & 333 N Quarry Street comprises two residences on a 0.171-acre parcel with 2,464 square feet of property size. The primary home offers 5 bedrooms and 3 bathrooms, along with an updated kitchen, newer flooring, fresh paint, main-floor laundry, radiant and electric heating, a wall unit for cooling, and an attached 2-car garage. A metal roof, fenced backyard, deck, and patio add to the improvements.
The second residence contains 2 bedrooms and 1 bathroom and includes an additional garage. One of the homes is occupied by a long-term tenant. The property is near schools, parks, tennis courts, ball fields, shopping, and other conveniences, with open space on three sides and a city park, track, and football complex nearby. Public water and public sewer serve the property.
The second residence contains 2 bedrooms and 1 bathroom and includes an additional garage. One of the homes is occupied by a long-term tenant. The property is near schools, parks, tennis courts, ball fields, shopping, and other conveniences, with open space on three sides and a city park, track, and football complex nearby. Public water and public sewer serve the property.
Key Highlights
- Two residences on a 0.171‑acre parcel with 2,464 square feet of property size
- Primary home includes 5 bedrooms, 3 bathrooms, an updated kitchen, and main‑floor laundry
- Second home offers 2 bedrooms and 1 bathroom
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
$22,493
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
4.50%
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%
$449,860
$449.9K
Cap Rate 7%
$321,329
$321.3K
Cap Rate 9%
$249,922
$249.9K
Market Conditions
NOI Build-Up for 2,464 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
$34.0K $13.80/SF
− Vacancy
−$1.9K −$0.76/SF
EGI
$32.1K $13.04/SF
− OpEx
−$9.6K −$3.91/SF
NOI
$22.5K $9.13/SF
Area
Stillwater County, MT
Vacancy
5.50%
Lease Rate
$13.80 /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%
$449,860
Cap Rate 7%
$321,329
Cap Rate 9%
$249,922
Alternative Uses
Best Use
Multifamily LT 5
$321.3K
$281.2K – $374.9K
NOI $22,493 @ 7.0% cap · market cap 4.50%
Second Best
Apartment 5plus
$298.0K
$260.7K – $347.6K
NOI $20,857 @ 7.0% cap · market cap 4.17%
Theoretical Best
Office A
$537.6K
$470.4K – $627.2K
NOI $37,634 @ 7.0% cap · market cap 7.53%
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
263
Businesses Nearby
Explore this area
Business Placement
Demographics for 59019, MT
4,047
Population
1,905
Households
2.1
Avg Household Size
46
Median Age
27%
College-Educated
92%
High-School Grad
306.8 sq mi
ZIP Area
13
Density / Sq Mi
$86,905
Median Household Income
$42,813
Median Earnings
$921
Median Rent
$352,900
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 separate residences provide flexible living arrangements, with one home currently occupied by a long-term tenant.
Where is this duplex located?
The property is located at 331 & 333 N Quarry Street Columbus, MT.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Two residences on a 0.171‑acre parcel with 2,464 square feet of property size; Primary home includes 5 bedrooms, 3 bathrooms, an updated kitchen, and main‑floor laundry; Second home offers 2 bedrooms and 1 bathroom
