Mansion District Fourplex
New
For Sale
$675,000
407 Madison Avenue, Helena, MT 59601
Four units in a converted Victorian with separate meters and rear off-street parking; owner pays water service.
Property Size3,500 SF
Price / SF$192.86
Days on Market5
Property Features for 407 Madison Avenue
General Information
Standard status
Active
Size
3,500 SF
Property subtype
Multi Family Home
Additional Details
Multifamily Units
4
Amenities
Garage Spaces: 0
Building Details
Year Built
1880
Construction
Victorian
Tenancy
Multi
Listing Agency:
Keller Williams Capital Realty
(406) 422-6647
Listed By:
Jeff Barber · License #RRE-BRO-LIC-109439
Source:
Clearwaterproperties
Added: Jul 26
Changed: Jul 27
Last Checked: Jul 30 at 4:35AM
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 Keller Williams Capital Realty
Investment Insights
Based on property information with market context.
This converted fourplex features four separately metered units within a classic Victorian structure. The property is described as well-maintained and includes off-street parking available in the rear. According to the provided information, each unit is separately metered and the owner covers water service.
The property is located in Helena’s Mansion District, and the remarks note it is just minutes from downtown Helena amenities, including shopping, dining, entertainment, and trails.
The generously sized lot is noted as having potential for future infill development. The listing also references a strong rental history, including one long-term tenant of more than a decade.
The property is located in Helena’s Mansion District, and the remarks note it is just minutes from downtown Helena amenities, including shopping, dining, entertainment, and trails.
The generously sized lot is noted as having potential for future infill development. The listing also references a strong rental history, including one long-term tenant of more than a decade.
Key Highlights
- Converted Victorian fourplex with 4 separate units
- Each unit is separately metered; owner pays water service
- Off‑street parking available in the rear
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $48.3k | $13.80 |
| − Vacancy | −$3.1k | −$0.90 |
| EGI | $45.2k | $12.90 |
| − OpEx | −$13.5k | −$3.87 |
| NOI | $31.6k | $9.03 |
3,500 SF · lease $13.80/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$451.6K
$395.2K – $526.9K
NOI $31,612 @ 7.0% cap · market cap 4.68%
Second Best
Apartment 5plus
$423.2K
$370.3K – $493.8K
NOI $29,626 @ 7.0% cap · market cap 4.39%
Theoretical Best
Office A
$760.3K
$665.3K – $887.0K
NOI $53,222 @ 7.0% cap · market cap 7.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,682
Businesses Nearby
Explore this area
Business Placement
Demographics for 59601, MT
30,848
Population
15,937
Households
1.9
Avg Household Size
41
Median Age
51%
College-Educated
96%
High-School Grad
130.2 sq mi
ZIP Area
237
Density / Sq Mi
$70,502
Median Household Income
$44,000
Median Earnings
$1,023
Median Rent
$355,000
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?
Quadplex - Four units in a converted Victorian with separate meters and rear off-street parking; owner pays water service.
Where is this quadplex located?
The property is located at 407 Madison Avenue Helena, MT.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Converted Victorian fourplex with 4 separate units; Each unit is separately metered; owner pays water service; Off‑street parking available in the rear
