Updated Duplex with Private
For Sale
$319,900
Pending
334 & 334 1/2 Yellowstone, Billings, MT 59101
Front-to-back configuration offers separate living spaces, outdoor areas, and garage capacity for dual-unit occupancy.
Property Size2,014 SF
Days on Market30
Property Features for 334 & 334 1/2 Yellowstone
General Information
Standard status
Pending
Size
2,014 SF
Property subtype
Duplex
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,650
Amenities
Style: Backsplit,Ranch
0.00
Backsplit,Ranch
Building Details
Year Built
1910
Buildings
1
Listing Agency:
Western Skies Real Estate
(406) 794-8660
Listed By:
Kimberly Ehrlich · License #RRE-RBS-LIC-70881
Source:
Clearwaterproperties
Added: Aug 1
Changed: Aug 29
Last Checked: Aug 29 at 9:05PM
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 Western Skies Real Estate
Investment Insights
Based on property information with market context.
Built in 1910, this 2,014-square-foot front-to-back duplex combines refreshed finishes with established residential character. The front residence includes two bedrooms, one bathroom, a bonus room, and basement laundry. The rear apartment has a separate entrance, new carpeting, fresh paint, a renovated bathroom, and updated kitchen countertops.
Both units have individual porches and dedicated outdoor space. Additional property improvements include a recently painted deck, enhanced landscaping, and mature trees. Garage space provides storage and parking capacity for the occupants. Located at 334 & 334 1/2 Yellowstone in Billings, the layout supports either investor ownership or an owner-occupant arrangement with one unit rented.
Both units have individual porches and dedicated outdoor space. Additional property improvements include a recently painted deck, enhanced landscaping, and mature trees. Garage space provides storage and parking capacity for the occupants. Located at 334 & 334 1/2 Yellowstone in Billings, the layout supports either investor ownership or an owner-occupant arrangement with one unit rented.
Key Highlights
- Front‑to‑back duplex totaling 2,014 square feet
- Front unit includes 2 bedrooms, 1 bath, bonus room, and basement laundry
- Rear apartment features a private entry, new carpet, fresh paint, remodeled bath, and updated countertops
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
$18,385
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
5.75%
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%
$367,700
$367.7K
Cap Rate 7%
$262,643
$262.6K
Cap Rate 9%
$204,278
$204.3K
Market Conditions
NOI Build-Up for 2,014 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
$27.8K $13.80/SF
− Vacancy
−$1.5K −$0.76/SF
EGI
$26.3K $13.04/SF
− OpEx
−$7.9K −$3.91/SF
NOI
$18.4K $9.13/SF
Area
Billings, 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%
$367,700
Cap Rate 7%
$262,643
Cap Rate 9%
$204,278
Alternative Uses
Best Use
Multifamily LT 5
$262.6K
$229.8K – $306.4K
NOI $18,385 @ 7.0% cap · market cap 5.75%
Second Best
Apartment 5plus
$243.5K
$213.1K – $284.1K
NOI $17,048 @ 7.0% cap · market cap 5.33%
Theoretical Best
Office A
$439.4K
$384.5K – $512.7K
NOI $30,761 @ 7.0% cap · market cap 9.62%
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
820
Businesses Nearby
Explore this area
Business Placement
Demographics for 59101, MT
41,522
Population
18,864
Households
2.2
Avg Household Size
37
Median Age
22%
College-Educated
91%
High-School Grad
590.8 sq mi
ZIP Area
70
Density / Sq Mi
$58,165
Median Household Income
$36,258
Median Earnings
$930
Median Rent
$243,000
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 - Front-to-back configuration offers separate living spaces, outdoor areas, and garage capacity for dual-unit occupancy.
Where is this duplex located?
The property is located at 334 & 334 1/2 Yellowstone Billings, MT.
What is the asking price?
The asking price for this property is $319,900.
What are key features of this property?
This property features: Front‑to‑back duplex totaling 2,014 square feet; Front unit includes 2 bedrooms, 1 bath, bonus room, and basement laundry; Rear apartment features a private entry, new carpet, fresh paint, remodeled bath, and updated countertops
