Duplex with Three-Car
New
For Sale
$950,000
3700 Rattlesnake Dr, Missoula, MT 59802
Two-level income property with flexible living arrangements, updated lower-unit finishes, and a wooded setting near Missoula amenities.
Property Size3,978 SF
Lot Size1.00 Acre
Price / SF$238.81
Days on Market6
Property Features for 3700 Rattlesnake Dr
General Information
Standard status
Active
Size
3,978 SF
Lot size
1.00 Acre
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR/1BA, 1 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1982
Listing Agency:
Real Broker, LLC
Listed By:
Diana Filkins · License #RRE-RBS-LIC-109423
(406) 926-5452
Source:
Toporealestate
Added: Sep 5
Changed: Sep 8
Last Checked: Sep 9 at 9:39PM
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 Real Broker, LLC
Investment Insights
Based on property information with market context.
This 1982 duplex offers a three-bedroom, one-bath upper residence and a two-bedroom, one-bath lower residence. Both units feature open floor plans, bathroom laundry hookups, tub-and-shower combinations, double-pane windows installed approximately 6 years ago, and gas baseboard heat. The lower unit received a major remodel in 2020. Cedar siding, a shingle roof replaced approximately 10 years ago, and a three-car garage add durable exterior and storage features.
The property occupies 1 acre at 3700 Rattlesnake Dr in Missoula’s Upper Rattlesnake neighborhood. Mature trees and abundant wildlife create a private outdoor setting, with mountain views extending east. A long driveway provides additional parking, while the unit configuration supports owner occupancy, multigenerational living, guest use, or rental income potential.
The property occupies 1 acre at 3700 Rattlesnake Dr in Missoula’s Upper Rattlesnake neighborhood. Mature trees and abundant wildlife create a private outdoor setting, with mountain views extending east. A long driveway provides additional parking, while the unit configuration supports owner occupancy, multigenerational living, guest use, or rental income potential.
Key Highlights
- 1‑acre duplex property in Missoula’s Upper Rattlesnake neighborhood
- Upper unit has 3 bedrooms and 1 bathroom; lower unit has 2 bedrooms and 1 bathroom
- Lower unit received a major remodel in 2020
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
$42,466
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
4.47%
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%
$849,320
$849.3K
Cap Rate 7%
$606,657
$606.7K
Cap Rate 9%
$471,844
$471.8K
Market Conditions
NOI Build-Up for 3,978 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
$84.0K $21.12/SF
− Vacancy
−$6.8K −$1.71/SF
EGI
$77.2K $19.41/SF
− OpEx
−$34.7K −$8.73/SF
NOI
$42.5K $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%
$849,320
Cap Rate 7%
$606,657
Cap Rate 9%
$471,844
Alternative Uses
Best Use
Apartment 5plus
$606.7K
$530.8K – $707.8K
NOI $42,466 @ 7.0% cap · market cap 4.47%
Second Best
Multifamily LT 5
$568.7K
$497.6K – $663.4K
NOI $39,806 @ 7.0% cap · market cap 4.19%
Theoretical Best
Specialty Retail
$1.15M
$1.00M – $1.34M
NOI $80,286 @ 7.0% cap · market cap 8.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
69
Businesses Nearby
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Business Placement
Demographics for 59802, MT
19,892
Population
10,416
Households
1.9
Avg Household Size
37
Median Age
52%
College-Educated
96%
High-School Grad
45.4 sq mi
ZIP Area
438
Density / Sq Mi
$65,054
Median Household Income
$36,541
Median Earnings
$1,021
Median Rent
$420,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-level income property with flexible living arrangements, updated lower-unit finishes, and a wooded setting near Missoula amenities.
Where is this duplex located?
The property is located at 3700 Rattlesnake Dr Missoula, MT.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: 1‑acre duplex property in Missoula’s Upper Rattlesnake neighborhood; Upper unit has 3 bedrooms and 1 bathroom; lower unit has 2 bedrooms and 1 bathroom; Lower unit received a major remodel in 2020
