Up-Down Duplex Investment
For Sale
$350,000
Pending
3415 Poly, Billings, MT 59102
Income-producing duplex with fenced yard, garage, and parking pad.
Property Size2,519 SF
Days on Market90
Property Features for 3415 Poly
General Information
Standard status
Pending
Size
2,519 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$1,854
Amenities
Garage: Additional Parking
Style: Two Story
0.00
Two Story
Additional Parking
Building Details
Year Built
1955
Listing Agency:
4 Seasons Real Estate
(406) 670-9799
Listed By:
Lanissa Fortner · License #RRE-BRO-LIC-13590
Source:
Clearwaterproperties
Added: May 24
Changed: Aug 7
Last Checked: Aug 21 at 7:14AM
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 4 Seasons Real Estate
Investment Insights
Based on property information with market context.
This up-down duplex presents an investment opportunity. The upper unit includes a living area, a kitchen with outdoor access to a covered deck, two bedrooms, and a full bathroom with dual sinks, plus two additional bedrooms upstairs. The basement unit features a living area, kitchen, bathroom, bedroom, shared storage, and coin-operated laundry. Exterior features include a fenced yard with mature trees, a two-car garage, and an additional parking pad. The property is also listed as a single family. The upstairs was previously rented for $1,850 per month, and the basement tenant currently pays $850 per month. The property size is 2519 square feet.
Key Highlights
- Income‑producing duplex with existing tenants.
- Upper unit: 2 bedrooms, full bathroom with dual sinks, kitchen with deck access.
- Basement unit: 1 bedroom, kitchen, bathroom, shared storage, coin‑operated laundry.
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
$22,995
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
6.57%
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%
$459,900
$459.9K
Cap Rate 7%
$328,500
$328.5K
Cap Rate 9%
$255,500
$255.5K
Market Conditions
NOI Build-Up for 2,519 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
$34.8K $13.80/SF
− Vacancy
−$1.9K −$0.76/SF
EGI
$32.9K $13.04/SF
− OpEx
−$9.9K −$3.91/SF
NOI
$23.0K $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%
$459,900
Cap Rate 7%
$328,500
Cap Rate 9%
$255,500
Alternative Uses
Best Use
Multifamily LT 5
$328.5K
$287.4K – $383.3K
NOI $22,995 @ 7.0% cap · market cap 6.57%
Second Best
Apartment 5plus
$304.6K
$266.5K – $355.4K
NOI $21,322 @ 7.0% cap · market cap 6.09%
Theoretical Best
Office A
$549.6K
$480.9K – $641.2K
NOI $38,474 @ 7.0% cap · market cap 10.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
178
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Income-producing duplex with fenced yard, garage, and parking pad.
Where is this duplex located?
The property is located at 3415 Poly Billings, MT.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Income‑producing duplex with existing tenants.; Upper unit: **2 bedrooms, full bathroom with dual sinks, kitchen with deck access.**; Basement unit: 1 bedroom, kitchen, bathroom, shared storage, coin‑operated laundry.
