Four-Unit Victorian
For Sale
$630,000
407 Madison Avenue, Helena, MT 59601
ResidentialIncome, Helena, MT
Property Size3,500 SF
Lot Size0.17 Acres
Price / SF$180
Days on Market100
Property Features for 407 Madison Avenue
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning description
R-3
Directions
407 Madison, follow google
Standard status
Active
APN
05188725425050000
Size
3,500 SF
Lot size
0.17 Acres
Tenancy & Operations
Currently Operating
Yes
Tenant in Place
Yes
Additional Details
Individually Metered Utilities
electricity
Taxes and HOA fees
Tax Year
2025
Tax Description
STOREY, S25, T10 N, R04 W, BLOCK 22, Lot 3
Tax Annual Amount
4040
Legal Description
STOREY, S25, T10 N, R04 W, BLOCK 22, Lot 3
Building Details
Year built
1880
Number of units
4
Buildings
1
Listing Agency:
Keller Williams Capital Realty · Keller Williams Realty
(406) 449-2181
Listed By:
Jeff Barber · License #RRE-BRO-LIC-109439
(406) 422-6647
Added: Jul 24
Changed: Oct 29
Last Checked: Oct 31 at 3:06AM
MLS# 30075490
Copyright © 2026 Montana Regional MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
Built in 1880, this Victorian residence contains four rental units across 3,500 square feet. The configuration offers the option to rent all four units or combine two as an owner’s residence while leasing the other two. Each unit has its own electric meter, while water and gas are paid by the owner.
The 0.172-acre property is in Helena’s Mansion District, a short distance from downtown. Off-street parking is located at the rear. The rental history includes a tenant with more than ten years at the property.
The 0.172-acre property is in Helena’s Mansion District, a short distance from downtown. Off-street parking is located at the rear. The rental history includes a tenant with more than ten years at the property.
Key Highlights
- Four‑unit Victorian residence built in 1880
- 3,500 square feet on a 0.172‑acre lot
- Separate electric meters for each unit; owner pays water and gas
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,612
Cap Rate
5.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$632,240
$632.2K
Cap Rate 7%
$451,600
$451.6K
Cap Rate 9%
$351,244
$351.2K
Market Conditions
NOI Build-Up for 3,500 SF
Gross rent
$48.3K $13.80/SF
− Vacancy
−$3.1K −$0.90/SF
EGI
$45.2K $12.90/SF
− OpEx
−$13.5K −$3.87/SF
NOI
$31.6K $9.03/SF
Area
Lewis and Clark County, MT
Vacancy
6.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$632,240
Cap Rate 7%
$451,600
Cap Rate 9%
$351,244
Alternative Uses
Best Use
Multifamily LT 5
$451.6K
$395.2K – $526.9K
NOI $31,612 @ 7.0% cap · market cap 5.02%
Second Best
Apartment 5plus
$423.2K
$370.3K – $493.8K
NOI $29,626 @ 7.0% cap · market cap 4.70%
Theoretical Best
Office A
$760.3K
$665.3K – $887.0K
NOI $53,222 @ 7.0% cap · market cap 8.45%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
4
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,827
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
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?
Quadplex - Separate electric meters serve each residence; the owner covers water and gas.
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 $630,000.
What are key features of this property?
This property features: Four‑unit Victorian residence built in 1880; 3,500 square feet on a 0.172‑acre lot; Separate electric meters for each unit; owner pays water and gas
