Duplex with Separate
For Sale
$500,000
3320 Ravalli Pl, Billings, MT 59102
MULTI_FAMILY - Billings, MT
Property Size5,144 SF
Lot Size0.21 Acres
Price / SF$97.20
Days on Market35
Property Features for 3320 Ravalli Pl
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
N2 - Mid-Century Neighborhood Residential
Bedrooms
8
Full bathrooms
3
Half bathrooms
3
Rooms
Bedroom 6, Bedroom 1, Bedroom 4, Bathroom 4, Bathroom 2, Bedroom 8, Bedroom 3, Bathroom 6, Bedroom 5, Bathroom 5, Bathroom 1, Bedroom 7, Bathroom 3, Bedroom 2
Parking
6
Interior features
SecondKitchen
Exterior features
Fence
Fencing
Fenced
Subdivision
Patricia
Lot features
Level
Elementary school
Meadowlark
Middle school
Will James
High school
West
Directions
Broadwater to Ravalli - across from Peter Yegen Golf Course
Standard status
Active
APN
C02157
Size
5,144 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Description
PATRICIA SUBD, S02, T01 S, R25 E, BLOCK 1, Lot 2 - 3
Tax Annual Amount
2810
Legal Description
PATRICIA SUBD, S02, T01 S, R25 E, BLOCK 1, Lot 2 - 3
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Hot Water(Heating)
Water source
Public
Building Details
Year built
1964
Floors in Building
2
Number of units
2
Building materials
Brick
Roof type
Asphalt
Listing Agency:
Meridian Real Estate LLC
(406) 671-6955
Listed By:
Christy Fenno · License #RRE-BRO-LIC-16037
(406) 256-7252
Added: Jul 18
Changed: Aug 4
Last Checked: Aug 21 at 1:06AM
MLS# 357784
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 is currently set up for a turn-key sober living use, with a configuration that could also function as an up/down duplex. The home offers 8 bedrooms, 2 full kitchens, and 2 fireplaces, along with interior support for a SecondKitchen layout. Separate entrances provide added flexibility for living arrangements, and the property is 100% fully furnished and ready for immediate use.
Set on a cul-de-sac with alley access, the property also includes a fenced exterior and brick construction. Utilities are provided through public water and public sewer, and the home is heated with natural gas and hot water systems. The roof is asphalt, and the property was built in 1964.
Additional rooms and bathrooms are available throughout the home, including multiple bedroom and bathroom spaces to support group living or duplex-style occupancy.
Set on a cul-de-sac with alley access, the property also includes a fenced exterior and brick construction. Utilities are provided through public water and public sewer, and the home is heated with natural gas and hot water systems. The roof is asphalt, and the property was built in 1964.
Additional rooms and bathrooms are available throughout the home, including multiple bedroom and bathroom spaces to support group living or duplex-style occupancy.
Key Highlights
- 8 bedrooms with 2 full kitchens
- Separate entrances for added living flexibility
- 2 fireplaces
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
$43,541
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
8.71%
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%
$870,820
$870.8K
Cap Rate 7%
$622,014
$622.0K
Cap Rate 9%
$483,789
$483.8K
Market Conditions
NOI Build-Up for 5,144 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
$83.3K $16.20/SF
− Vacancy
−$4.2K −$0.81/SF
EGI
$79.2K $15.39/SF
− OpEx
−$35.6K −$6.93/SF
NOI
$43.5K $8.46/SF
Area
Billings, MT
Vacancy
5.00%
Lease Rate
$16.20 /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%
$870,820
Cap Rate 7%
$622,014
Cap Rate 9%
$483,789
Alternative Uses
Best Use
Multifamily LT 5
$670.8K
$587.0K – $782.6K
NOI $46,958 @ 7.0% cap · market cap 9.39%
Second Best
Apartment 5plus
$622.0K
$544.3K – $725.7K
NOI $43,541 @ 7.0% cap · market cap 8.71%
Theoretical Best
Office A
$1.12M
$982.1K – $1.31M
NOI $78,567 @ 7.0% cap · market cap 15.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
240
Businesses Nearby
Explore this area
Business Placement
Demographics for 59102, MT
48,133
Population
22,706
Households
2.1
Avg Household Size
41
Median Age
43%
College-Educated
97%
High-School Grad
15.0 sq mi
ZIP Area
3,209
Density / Sq Mi
$75,140
Median Household Income
$43,203
Median Earnings
$1,148
Median Rent
$307,400
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 - Duplex offering 8 bedrooms, 2 full kitchens, and separate entrances, located on a cul-de-sac with alley access.
Where is this duplex located?
The property is located at 3320 Ravalli Pl Billings, 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: 8 bedrooms with 2 full kitchens; Separate entrances for added living flexibility; 2 fireplaces
