Two-Home Multifamily
For Sale
$550,000
3828 Mallard Drive, Billings, MT 59101
Two manufactured homes accompany garages, storage buildings, private wells, and septic systems outside city limits.
Property Size4,324 SF
Lot Size2.51 Acres
Days on Market193
Property Features for 3828 Mallard Drive
General Information
Standard status
Active
Size
4,324 SF
Total Parking Spaces
5
Lot size
2.51 Acres
Property subtype
Multifamily
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 4BR/2BA (1,620 SF), 1 x 3BR/1.5BA (1,216 SF)
Multifamily Units
2
Amenities
heated garage
storage sheds
Building Details
Building Size
4,324 SF
Year Built
2014
Construction
manufactured
Listing Agency:
NAI Business Properties
Listed By:
Jake Hedge, CCIM · License #88041
(406) 696-0395
Source:
Naiglobal
Added: Apr 8
Changed: Oct 3
Last Checked: Oct 16 at 7:06AM
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 NAI Business Properties
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Investment Insights
Based on property information with market context.
This multifamily property includes two manufactured homes on 2.51 acres outside city limits. The 3828 Mallard Drive residence was built in 2014 and offers 4 bedrooms, 2 bathrooms, 1,620 SF, and a permanent foundation slab. The 3846 Mallard Drive home dates to 1980 and contains 3 bedrooms, 1.5 bathrooms, and 1,216 SF.
Improvements include a heated 3-car garage/shop, a separate 2-car garage, and three storage sheds. The property is served by two wells and two septic systems, and the source information identifies no restrictions outside city limits. Duck Creek is approximately one mile from Canyon Creek School and the South Frontage Road along Interstate 90.
Improvements include a heated 3-car garage/shop, a separate 2-car garage, and three storage sheds. The property is served by two wells and two septic systems, and the source information identifies no restrictions outside city limits. Duck Creek is approximately one mile from Canyon Creek School and the South Frontage Road along Interstate 90.
Key Highlights
- 2.51 acres outside city limits with no restrictions
- Two manufactured homes: 1,620 SF built 2014 and 1,216 SF built 1980
- 3828 Mallard Dr includes 4bd/2ba and a permanent foundation slab
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,600
Cap Rate
6.65%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$732,000
$732.0K
Cap Rate 7%
$522,857
$522.9K
Cap Rate 9%
$406,667
$406.7K
Market Conditions
NOI Build-Up for 4,324 SF
Gross rent
$70.0K $16.20/SF
− Vacancy
−$3.5K −$0.81/SF
EGI
$66.5K $15.39/SF
− OpEx
−$29.9K −$6.93/SF
NOI
$36.6K $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 Rate 5%
$732,000
Cap Rate 7%
$522,857
Cap Rate 9%
$406,667
Alternative Uses
Best Use
Apartment 5plus
$522.9K
$457.5K – $610.0K
NOI $36,600 @ 7.0% cap · market cap 6.65%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$943.5K
$825.5K – $1.10M
NOI $66,043 @ 7.0% cap · market cap 12.01%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
46
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Multifamily property - Two manufactured homes accompany garages, storage buildings, private wells, and septic systems outside city limits.
Where is this multifamily property located?
The property is located at 3828 Mallard Drive Billings, MT.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: 2.51 acres outside city limits with no restrictions; Two manufactured homes: 1,620 SF built 2014 and 1,216 SF built 1980; 3828 Mallard Dr includes 4bd/2ba and a permanent foundation slab
