Updated Duplex With Carriage
For Sale
$995,000
340 South Avenue W, Missoula, MT 59801
Missoula, MT
Property Size3,388 SF
Price / SF$293.68
Days on Market23
Property Features for 340 South Avenue W
General Information
Property type
Residential Multi Family
Property subtype
Other
Standard status
Active
Building Details
Year built
1951
Listing Agency:
Engel & Volkers Missoula · Engel & Völkers
(406) 926-3322
Listed By:
Beth Baumstark · License #RRE-RBS-LIC-119411
Added: Jul 30
Changed: Aug 19
Last Checked: Aug 21 at 5:06AM
MLS# 30072597
Copyright © 2026 Engel & Völkers. 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 340 South Avenue W includes a 3,068-square-foot main residence and a separate 320-square-foot carriage house, totaling 3,388 square feet. The primary home contains five bedrooms and two bathrooms, with an eat-in kitchen, original cabinetry, refinished hardwood floors, a gas fireplace, updated windows and trim, and interior and exterior painting. A finished basement adds two conforming bedrooms, a living area, a 3/4 bathroom, a TV room, and utility storage.
The detached studio residence has its own fenced yard, separate access, and independent water and power service. Property improvements include a replaced roof, upgraded bathrooms, refinished hardwood floors, a new furnace, a rebuilt driveway, and an improved fence and patio. A true two-car garage features a reinforced beam, sheetrock, full interior paint, and a new side entrance. The property was built in 1951 and is located in Missoula, Montana.
The detached studio residence has its own fenced yard, separate access, and independent water and power service. Property improvements include a replaced roof, upgraded bathrooms, refinished hardwood floors, a new furnace, a rebuilt driveway, and an improved fence and patio. A true two-car garage features a reinforced beam, sheetrock, full interior paint, and a new side entrance. The property was built in 1951 and is located in Missoula, Montana.
Key Highlights
- 3,388 sq ft total: 3,068 sq ft main house plus 320 sq ft carriage house
- Main residence includes 5 bedrooms and 2 bathrooms
- Separate studio dwelling with independent access, water, and power
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
$36,167
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
3.63%
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%
$723,340
$723.3K
Cap Rate 7%
$516,671
$516.7K
Cap Rate 9%
$401,856
$401.9K
Market Conditions
NOI Build-Up for 3,388 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
$71.6K $21.12/SF
− Vacancy
−$5.8K −$1.71/SF
EGI
$65.8K $19.41/SF
− OpEx
−$29.6K −$8.73/SF
NOI
$36.2K $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 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%
$723,340
Cap Rate 7%
$516,671
Cap Rate 9%
$401,856
Alternative Uses
Best Use
Apartment 5plus
$516.7K
$452.1K – $602.8K
NOI $36,167 @ 7.0% cap · market cap 3.63%
Second Best
Multifamily LT 5
$484.3K
$423.8K – $565.0K
NOI $33,902 @ 7.0% cap · market cap 3.41%
Theoretical Best
Specialty Retail
$976.8K
$854.7K – $1.14M
NOI $68,378 @ 7.0% cap · market cap 6.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,009
Businesses Nearby
Explore this area
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
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 independent dwellings offer separate access, utilities, and flexible residential income use.
Where is this duplex located?
The property is located at 340 South Avenue W Missoula, MT.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: 3,388 sq ft total: 3,068 sq ft main house plus 320 sq ft carriage house; Main residence includes 5 bedrooms and 2 bathrooms; Separate studio dwelling with independent access, water, and power
